The market size of waterborne coatings to be around US$ 142.7 billion by 2030

priority research

priority research

According to Presidency Research, the global waterborne coatings market size is estimated to be around USD 142.7 billion by 2030 and is expected to expand at a CAGR of 6.96% during the forecast period 2022 to 2030.

TOKYO, August 01, 2022 (Globe Newswire) — GLOBAL Waterborne Coatings Market Size It was valued at US$ 83.32 billion in 2022. A waterborne coating is an environmentally acceptable surface treatment that disperses the resin used to make a coating or paint using water as a solvent: 80 percent of the solvent is dissolved in water. The coating or paint should be simple to apply and environmentally friendly. The premise that waterborne coatings contain some volatile organic component makes them very popular. It can be used on substrates made of wood and plastic. There are many applications for waterborne coatings.

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Most common applications of waterborne coatings: Teflon extenders or Teflon extenders to cover leather or permeable objects for use as a rapid release coating inside trucks, garbage cans, fly ash hoppers, plastic pellet hoppers, and coal cars. Filled with PE. paper.

key takeaways:

  • Global waterborne acrylic coatings segment to register USD 44.7 billion in 2021

  • The architectural application segment is projected to reach US$15 billion by 2030

  • North America market is projected to reach US$42 billion by 2030

  • Asia Pacific to achieve 40.5% revenue share in 2021

Report Highlights

  • depending on resin typeThe alkyd sector, one of the market leaders, is estimated to contribute the most to the waterborne coatings industry. Waterborne alkyd coatings are popular due to their advanced properties, ecologically benign chemistry and low VOC levels. Waterborne alkyd coatings, like most resins, require specific defoamers to function at their peak. Several companies are offering a revolutionary water-alkyd resin technology. Modern processing methods are used to produce aqueous emulsions stabilized by surfactants with alkyd formulations devoid of solvents. It is a soy-based resin with an alkyd latex base that offers the benefits of a waterborne carrier with very low VOC levels.

  • depending on the applicationThe architectural security segment is expected to be the largest segment during the forecast period. Materials’ surfaces are coated with these types of protective coatings that protect them from things like severe temperature swings, light, water, chemicals, oils, and more. These coatings have advantages including thermal insulation, waterproofing and chemical abrasion. The boom in growth, especially in the developing countries of Asia-Pacific, is driving the market for architectural coatings across the world. The market is also influenced by changes in consumer tastes and increased public knowledge about the dangers of VOC emissions from architectural coatings. Furthermore, it is predicted that during the forecast period, the switch from solvent-borne to water-borne coating formulations will support the expansion of the architectural coatings market across the globe.

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scope of report

report properties

description

Market size in 2021

USD 77.9 billion

Revenue Forecast to 2030

142.7 billion US dollars

CAGR

6.96% from 2022 to 2030

base year

2021

forecast year

2022 to 2030

Key Players

BASF SE, AkzoNobel NV, PPG Industries Inc., RPM International Inc., Sherwin-Williams Company and others.

regional snapshot

Asia-Pacific holds the dominant position and holds the largest share of the waterborne coating market. The Asia Pacific region includes many economies in various stages of development and in a wide range of industries. High growth rates and heavy investments in the automotive, consumer goods and appliances, building and construction, and furniture industries are largely responsible for economic growth.

Based on the production and demand for waterborne coatings, it is one of the places with the fastest growing population. The Asia Pacific market is anticipated to expand rapidly over the next five years and offer great business potential for global participants in waterborne coatings.

market Ddynamics

drivers

The increase in the demand for ecologically friendly properties has been one of the most important trends in the coatings industry. Stringent EU regulations limiting the reduction of volatile organic compound emissions from coatings have had a significant impact on this trend. New laws and regulations, such as the Eco-Product Certification Scheme, are being implemented by the European Commission and other federal government entities. These requirements guarantee a green and sustainable environment, with minimal hazardous VOC emissions. Additionally, it is anticipated that Western European and US government regulations, particularly those dealing with air pollution, will continue to support the use of innovative, low-pollution coating technologies.

The popularity of waterborne coatings, which contain fewer solvents that evaporate during the curing process than solvent-borne coatings, has increased gradually as a result of increasing awareness of the negative effects of VOC emissions. According to estimates, Asia Pacific will be the largest and fastest growing market for waterborne coatings. This may be due to the region’s booming construction and automobile industry.

Helplessness

Waterborne coatings require longer drying and curing times than solvent-borne coatings. The excellent flow characteristics of waterborne coatings fluctuate with humidity and have an effect on how the coating is applied. Water does not evaporate easily in high-humidity environments, leading to poor curing and reduced effectiveness. Additionally susceptible to freezing conditions, waterborne coatings often become unusable after freezing.

opportunity

Emerging economies are investing heavily in long-term initiatives and infrastructure development. As a result of large investments made by top corporations to take advantage of the potential in these economies, the markets in these countries are growing faster than those in North America and Western Europe. Manufacturers of resin and waterborne coatings have great potential in the Asia Pacific region, especially China and India.

The increasing income and purchasing power of people in Asia Pacific and other emerging regions has resulted in increasing investment in the building, automotive, electrical and electronics, consumer goods and appliance industries. Growing economies such as China, India, Russia and Brazil are seeing rising spending in the construction, automotive, electrical and other industrial sectors, offering possibilities for manufacturers of waterborne coating resin.

challenges

  • As a result of the increasing number of regulatory policies being enacted by various governments, coatings manufacturers are bound to continuously enhance their processes to comply with the new laws. Countries that have severe environmental regulations, especially in Western Europe and North America, are not allowed to use products that do not comply with the law.

  • The low atmospheric emissions resulting from the use of low-VOC coatings are similarly disregarded by a concentration approach. This problem is expected to be one of the major challenges of the waterborne coating market.

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recent developments

  • With Korean Hyundai Heavy Industries, Jotun signed a Memorandum of Understanding. With this agreement, the corporation will be able to use the new marine paint. The collaboration will support efforts to reduce solvent emissions and comply with environmental standards.

market segmentation

by resin type

  • acrylic

  • polyester

  • alkido

  • epoxy

  • polyurethane

  • other

by application

  • building construction

  • motor vehicle

  • Automotive OEM

  • Automotive Refinish

  • furniture and flooring

  • Electronics

  • Marine

  • paper and printing

  • other

by region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

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