Global Waterborne Coatings Market

Waterborne Coatings Market Size, Share, Growth Analysis, By Resin Type(Acrylic Coatings, Polyester Coatings, ALKYD Coatings, EPOXY Coatings), By Application(Architectural, Automotive, General Industrial, Protective), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15E2123 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 73 | Figures: 75

Waterborne Coatings Market Regional Insights

Asia Pacific dominated the Global Waterborne Coatings Market share in 2021. As major automakers move to countries in the Asia Pacific region, including China, India, and Indonesia, demand is expected to increase. The establishment of new industries in the region as a result of the region's cheap labour costs and government tax incentives is projected to fuel the boom in the region. The automobile and furniture industries have had rapid growth rates and significant investment, which is substantially to blame for economic expansion. It is one of the regions with the fastest growing populations based on the production and demand for waterborne coatings.

Asia Pacific is also expected to grow the fastest during the forecast period. This region includes several economies at various stages of development and across a wide variety of sectors. High growth rates and huge investments throughout the automobile, consumer goods & appliances, building & construction, and furniture industries are largely responsible for economic development. The top market participants for waterborne coatings are well-established in the Asia Pacific region and are investing in organic expansion tactics including joint ventures and licencing agreements.

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Waterborne Coatings Market size was valued at USD 99.2 billion in 2022 and is poised to grow from USD 102.97 billion in 2023 to USD 144.04 billion by 2031, growing at a CAGR of 3.8% in the forecast period (2024-2031).

Global Waterborne Coatings Market is competitive and fragmented due to the presence of several prominent players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Major players include AkzoNobel N.V., BASF SE, and Axalta Coating Systems LLC among others. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'PPG Industries Inc.', 'AkzoNobel NV', 'The Sherwin-Williams Company', 'BASF SE', 'Axalta Coating Systems LLC', 'RPM International Inc.', 'Jotun A/S', 'Kansai Paint Co. Ltd.', 'Nippon Paint Holdings Co. Ltd.', 'Asian Paints Ltd.', 'Tikkurila Oyj', 'Hempel A/S', 'Berger Paints India Ltd.', 'DAW SE', 'Sika AG', 'Benjamin Moore & Co.', 'DuluxGroup Ltd.', 'Dyrup A/S', 'J.W. Ostendorf GmbH & Co. KG', 'Brillux GmbH & Co. KG'

Several end-use industries, including the automotive, industrial, and infrastructure sectors, are anticipated to boost their need for waterborne coatings in the future years. Due to their near to 80% water content, which makes them ideal solvents with minimal VOC emissions, these coatings are frequently selected over other conventional ones. The most frequently used raw materials in the manufacture of aqueous coatings are synthetic resins, surfactants, additives, and pigments. The aforementioned basic ingredients help produce different aqueous coating types, which are subsequently utilised in a range of applications, including general industrial, architectural, wood, automotive OEM, coil, protective coatings, marine, industrial wood, metal packaging, and automobile refinishing.

Anticorrosive polymeric coatings now have greater flexibility and potential against protecting metals compared to non-polymeric ones, polymeric ones are better because they can be developed and formed to accomplish many protective mechanisms. Anticorrosive polymeric coatings have the potential to be cost-effective, technically effective, and ecologically responsible solutions. Therefore, the necessity to combat the financial losses brought on by the corrosion phenomenon has led to the creation of a number of coating technologies. By utilising various and concurrent modes of corrosion inhibition, anticorrosive polymeric coatings provide a versatile and efficient solution against corrosion.

Asia Pacific dominated the Global Waterborne Coatings Market share in 2021. As major automakers move to countries in the Asia Pacific region, including China, India, and Indonesia, demand is expected to increase. The establishment of new industries in the region as a result of the region's cheap labour costs and government tax incentives is projected to fuel the boom in the region. The automobile and furniture industries have had rapid growth rates and significant investment, which is substantially to blame for economic expansion. It is one of the regions with the fastest growing populations based on the production and demand for waterborne coatings.

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Global Waterborne Coatings Market

Report ID: SQMIG15E2123

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