Waterborne Coatings Market By Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC), By Application (Architectural and Industrial)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Waterborne Coatings Market held USD 76.7  billion in 2020 and is to grow with a CAGR of 4.5% from 2020-2030. Waterborne coatings are eco-friendly and can easily be applied using water as a solvent for vehicle, aerospace, architectural, marine, plastic , wood, industrial and other applications. They deliver durability, adhesion, resistance to blemishes, hardness and resistance to corrosion. These properties will fuel the waterborne coatings market growth. Waterborne coatings have gained global recognition mainly as a result of improving economic conditions and the low environmental impact of these coatings. Waterborne formulations have a large market share, representing over 50 % of global consumption.

Market Dynamics and Factors:

Many end-use industries including architectural, automotive, wood & packaging, general industrial and construction industry demands various types of coatings such as water-soluble paints, latex paints, water based alkys and water-dispersible paints, which will be fuelling the waterborne coatings market demand. The demand from other applications industry for these raw materials is expected to affect the waterborne coatings market size. The growing building industry is expected to have a positive effect on waterborne coatings market growth during the forecast era. Recent change from low- or high-volatile organic solvent coatings to less-emission solvent-free coats is expected to increase the global waterborne coatings market demand in residential and commercial coating applications.

Market Segmentation:

Based on the type, the global waterborne coatings industry is segmented epoxy, polyester, alkyd, polyurethane, acrylic, PVDF, PVDC PTFE. On the basis of application, the waterborne coatings market is segmented into industrial  and architectural. Geographic bifurcation of waterborne coatings market share includes North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Improved production ability and the introduction of new car models is expected to remain an significant driving force for the waterborne automotive industry. Another major driving factor for the waterborne coating market is expected to become the growing automotive industry in emerging Asia Pacific, Central & South America and the Middle East & Africa. During the forecast era, APAC is projected to account for the largest proportion of the waterborne coating market share. The growing demand for waterborne coating is expected in the region to boost the waterborne coating market growth in the region, from industries such as manufacturing, automotive, marine, new construction and remodeling and repainting, countries such as India ,China, Taiwan, Malaysia, Indonesia, Vietnam and South Korea. During the forecast period, China is expected to lead the APAC waterborne coatings market. Lenient environmental regulations on manufacturers' emission rates and lower taxes have contributed to growing waterborne coating market size in China.

Competitive Scenario:

The global waterborne coatings market, which is highly competitive, consists of a few major players. In terms of market share, few of the major players currently dominate the market. The key players of Global Waterborne Coatings are AkzoNobel N.V. Axalta Coating Systems LLC (US), (Netherlands), BASF SE (Germany), RPM International Inc. (US), PPG Industries Inc. (US), Asian Paints Limited (India), TNippon Paint Holdings Co. Ltd. (Japan), Kansai Paint Co. Ltd. (Japan), he Sherwin-Williams Company (US), Tikkurila OYJ (Finland) and Jotun Group (Norway) 

Waterborne Coatings Market Report Scope