Global waterborne coatings market is expected to grow at a steady CAGR during the forecast period. The key factor responsible for increased demand for waterborne coatings is due to upsurge in the product requirement for numerous applications in end user industries, mainly in residential sector. Additionally, rise in architectural applications is another major factor that is anticipated to bode well for the growth of waterborne coatings market across the globe in the coming years. Moreover, escalating demand for environment friendly, non-toxic, less VOC green coatings is bolstering the market growth across the globe.
The global waterborne coatings market is segmented based on resin type, application, region and company. Based on application, the market can be segmented into architectural, general metals, automotive and industrial. Out of which, the architectural segment dominated the market in terms of largest market share until 2019 and is further anticipated to be the fastest-growing application segment in the waterborne coatings market during the forecast years as well. This growth can be accredited to the its special features including decorative as well as protective features. For instance, these architectural paints & coatings are widely used in decorative interiors like wall paintings, furniture, sculptures, wood flooring, among others. Along with that, such coatings help in building protection from extreme weather conditions such as sunlight, rain and wind. In addition to this, due to rise in awareness among consumers pertaining to environmental concerns, the leading manufacturers are focussing on technological modernisations in coating industry in order to deliver the quality products that are of high quality, affordable and holds value-added features to meet the global trends.
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Major players operating in the global waterborne coatings market include BASF SE, AkzoNobel N.V., PPG Industries Inc, RPM International Inc., The Sherwin-Williams Company, Asian Paints Limited, Axalta Coating Systems LLC, Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd, Jotun Group, Tikkurila OYJ. The companies operating in waterborne coatings market across the globe are focussing more towards the expanding their share in the market. For instance, these key players are making organic strategies such as expansions, mergers and acquisitions, among others in order to make the industry highly competitive.
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Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyse and forecast the market size of global waterborne coatings market.
- To classify and forecast global waterborne coatings market based on resin type, application, company and regional distribution.
- To identify drivers and challenges for global waterborne coatings market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global waterborne coatings market.
- To conduct pricing analysis for global waterborne coatings market.
- To identify and analyse the profile of leading players operating in global waterborne coatings market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the new products, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global waterborne coatings market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Waterborne coatings manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to waterborne coatings
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Global waterborne coatings market can be segmented based on resin type, application, company and region. Considering the resin type, the market is fragmented into Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, Polytetrafluoroethylene (PTFE), Polyvinylidene Fluoride (PVDF), Polyvinylidene Chloride (PVDC) and Others. The acrylic segment dominated the global waterborne coatings market in terms of largest revenue until 2019 and is further anticipated to lead the market during the forecast period, as these acrylic waterborne coatings are widely used owing to its chemical characteristics as well as unique aesthetic properties. Additionally, demand for the product is high in the several industries including medical, construction, automotive and general industrial due to the superior hardness and durability properties of this resin, thereby positively influencing the growth of the segment in the coming years.
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