Waterborne Coatings Market by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, and PVDC), Application (Building & Construction, Automotive, Furniture & Flooring, Electronics, Marine, Paper & Printing, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026779 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 83.3 billion mark in 2022 and is expected to hit US$ 142.7 billion by 2030, recording a CAGR of 7.0% during the forecast period.

Waterborne coatings market has been significantly growing with the high adoption of these coatings in various end use industries

Rising demand for waterborne coatings due to increasing building & construction activities and infrastructure projects, improving quality of industrial manufacturing in developing countries, and the need for protection of coated products are some of the major factors driving the growth of the market. With the rising awareness regarding the harmful effects of VOC emissions, the demand for solvent borne coatings to environment friendly products such as waterborne coating is surging. These coatings contain fewer solvents which evaporate during the curing phase. All these factors are anticipated to propel the market growth in the forecast period.

Within the report, the market is segmented into resin type, application, and geography. By resin type, the market is further segmented into acrylic, polyester, alkyd, epoxy, polyurethane, PTFE, PVDF, and PVDC. On the basis of application, the market is bifurcated into building & construction, automotive, furniture & flooring, electronics, marine, paper & printing, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Stringent government regulations regarding the reduction of volatile organic compound (VOC) emissions from coatings is bolstering the waterborne coatings market growth

Waterborne coatings are ecofriendly coatings that use water as a solvent and can be applied easily on appliances, marine, building and construction, packaging, and other industries. New rules and regulations such as the Eco-product Certification Scheme (ECS) are implemented by the European Commission and other federal government agencies. These regulations ensure a green and sustainable environment with minimum or zero harmful VOC emissions. Moreover, the government regulations in the US and Western Europe, especially concerning air pollution, are expected to continue to drive the adoption of new, low-polluting coating technologies such as waterborne coatings.

Rising automotive production and increasing construction activities in various emerging economies is one of the major factors accelerating the market growth

The industries for waterborne coatings market are the building & construction, automotive, furniture & flooring, electronics, marine, paper & printing, and others. Within these industries, building and construction industry is one such industry, wherein the use of waterborne coatings is increasing as waterborne coatings are applied on surfaces to protect them from oil, chemicals, light, water, high-temperature fluctuations, etc. These coatings offer benefits such as resistance to corrosion, fire & chemical abrasion, waterproofing, and thermal insulation. The automotive industry is also encouraging the use of waterborne coatings as these coatings contain fewer toxins, which do not populate the air, and are less flammable and less hazardous. Other industries such as furniture & flooring, electronics, marine, and paper & printing are also encouraging the use of waterborne coatings.  

Recent strategic developments in waterborne coatings market

The market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2021, PPG announced the expansion of its coatings manufacturing capacity in Europe for packaging applications. The investment is expected to meet the rising customer demand in the region for the latest generation coatings for aluminum and steel cans used in packaging for beverage, food, and personal care items.
  • In October 2020, Sherwin-Williams launched Pro Industrial Pre-Catalyzed Water-based Urethane, a single-component product but with comparable performance attributes of a two-part coating, helps professionals meet esthetics and performance needs of light industrial or commercial environments.

The waterborne coatings market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. 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., and Jotun Group are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Coatings providers
  • Furniture manufacturers
  • Construction and automotive industry
  • Environment related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Paper, marine, furniture, and electronics manufacturers
  • End users of waterborne coatings
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Resin Type:
    • Acrylic
    • Polyester
    • Alkyd
    • Epoxy
    • Polyurethane
    • PTFE
    • PVDF
    • PVDC
  • Application:
    • Building & Construction
    • Automotive
    • Furniture & Flooring
    • Electronics
    • Marine
    • Paper & Printing
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • 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

The List of Companies
- 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

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