The increasing demand for construction in emerging economies with rising population and increased production of automobiles are driving the demand for the market.
Waterborne Coatings Market Size – USD 60.59 Billion in 2019, Market Growth – CAGR of 4.9%, Market Trends – High demand from the construction sector.
The Global Waterborne Coatings Market is projected to reach USD 90.11 billion in 2027. The global market for waterborne coating is driven by growth in architectural and industrial applications, especially in residential and general industry.
Prices of raw materials used in the manufacture of waterborne coatings will have a considerable effect on the finished product’s production cost. The demands for these raw materials from other industrial applications will affect their accessibility to waterborne coatings for manufacture.
Increased construction and infrastructure requirements are expected to drive the waterborne coating market over the forecast period, especially in the Asia Pacific region. Building investment moves from developed North America and Europe regions to emerging Asia Pacific regions.
Increased capability and launch of new car models is expected to remain a key driver for the demand in waterborne automotive coatings. The major driving factor for the waterborne coating market is expected to be a rising automotive industry in emerging markets of Asia-Pacific, central and South America and the Middle East & Africa.
During the forecast period the Automotive OEM segment is projected to rise at the highest rate. A rising level of income in the middle class, along with an growing lifestyle, is expected to boost car sales in emergent economies in Asia Pacific, Central and South America. The market for these coatings will be driven by low cost of producing waterborne coatings combined with long durability in this application segment.
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Key players in the market include Kansai Paint Co., Ltd., AkzoNobel N.V., Axalta Coating System, BASF, Berger Paints India Limited, Nippon Paint Company Limited, PPG Industries Inc., Tikkurila Oyj, The Sherwin Williams Company, and RPM International Inc, among others.
Further key findings from the report suggest
- Despite a majority share in the industry and expected to retain its dominance over the projected period, acrylic resin led the market in terms of revenue.
- The architecture market is the most rapidly growing field of applications. A rapid population increase and increased movement into urban zones were needed for a new commercial, residential and industrial infrastructure.
- With policy incentives and low-cost skilled labor available, car manufacturers are moving their production bases to these countries.
- The higher supply incomes and population growth in emerging economies would gradually increase the market for transport with epoxy layers.
- Europe is the largest waterborne coating market. Construction market growth driven by post-recession recovery would likely drive the market
- In June 2019, Jotun signed with Korean Hyundai Heavy Industries (HHI) a memorandum of understanding specifying that it will use the new marine paint by Jotun, which decreases solvent emissions by 90 percent. The partnership will help HHI to better equip and comply with environmental standards to reduce solvent emissions.
For the purpose of this report, Reports and data has segmented into the global Waterborne Coatings Market on the basis of Resin Type, Application, and region:
Resin Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- General Industrial
- Automotive OEM
- Metal Packaging
- Protective Coatings
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- Latin America
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Table of Content:
Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Waterborne Coatings Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
Chapter 5. Competitive Landscape
5.1. Market Revenue Share By Manufacturers
5.2. Manufacturing Cost Breakdown Analysis
5.3. Mergers & Acquisitions
5.4. Market positioning
5.5. Strategy Benchmarking
5.6. Vendor Landscape
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