The global waterborne coatings market size is projected to reach USD 83.8 billion by 2027, and market is projected to expand at CAGR of 6.8% over the forecast period 2020 to 2027.
The market is anticipated to be driven by the increasing construction spending and restoration activities in emerging economies of Latin America and Asia Pacific.
Waterborne coatings have gained a significant space and recognition globally predominantly due to the improving economic conditions and low environment impact of these coatings. Waterborne formulations hold a major share of the overall market accounting for over 50% of the total volume consumed globally.
The overall market is expected to grow significantly over the forecast period owing to increasing demand from end-use industries such as infrastructure, automotive and general industrial. These coatings are widely preferred owing to properties such as 80% water content as solvent and low VOC emissions.
Synthetic resins, pigments, surfactants, and additives are the key raw materials used in the manufacturing of waterborne coatings. These raw materials are used to manufacture various types of waterborne coatings that are further used in various applications including architectural, general industrial, automotive OEM, metal packaging, protective coatings, automotive refinishes, industrial wood, marine, wood, coil, and a few others.
The regulatory framework for waterborne coatings is governed by the Environment Protection Act; U.S. Environment Protection Agency (EPA); and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) among others. These regulatory bodies specify the chemical and physical risks associated with the use of the raw materials in the manufacturing of waterborne coatings, and the general requirements for labeling, storage, and the use of these raw materials.
The transport, usage, and storage of the product and related raw materials is permitted, provided the safety regulations are stringently followed. In addition, government initiatives being taken in order to increase water content as a solvent is expected to benefit the market.
Growth of automobile production in China, Mexico, Indonesia, Malaysia, and Germany is expected to augment the use of waterborne coatings. In addition, growing construction activities in emerging economies of the Middle East and Asia Pacific are anticipated to drive the demand for these coatings. Buyers are looking for application-specific, high-performance pigments and additives so as to impart high corrosion resistance and aesthetic properties, this is expected to impact product growth.
The booming construction industry is expected to have a positive influence on the growth of the product market over the forecast period. Recent shift in trend from coatings with low or high volatility organic solvents to solvent-free coatings that have lesser emissions is expected to drive the demand for the product in residential and commercial coating applications.
Acrylic coatings held the largest share of the market and is expected to continue its dominance over the forecast period. Growing demand from the automotive and infrastructure industries owing to superior color and gloss retention in outdoor exposure is expected to drive the demand for acrylic coatings. Acrylic modified polyurethane coatings are widely used in automotive refinishes owing to excellent exterior durability.
Alkyd held a significant share of the market and is expected to be fastest growing segment. Increasing demand in various end-use industries including industrial wood and metal packaging is anticipated to drive demand over the forecast period. Alkyd based coatings are used in caulks, fillers, and sealers for wood finishing due to their formulating flexibility.
Architectural application segment held the largest share of the market in 2017. Increasing infrastructure spending in Asia Pacific and Middle East is expected to drive demand for this application segment. Waterborne coatings are used as decorative coatings in architectural applications such as in doors, trims, window frames, interior & exterior walls and wood vanishes.
Automotive OEM is expected to be the fastest growing application segment over the forecast period. Shift of automotive production facilities to emerging economies of Asia Pacific such as China, Japan, India and Thailand is expected to be the key driving factor for impacting demand in automotive industry.
Stringent government regulations regarding VOC emissions and solvent content specifically in Europe and North America is projected to augment market growth. Rising trend in automotive industry to use waterborne coatings in all repair work as well is expected to further increase demand
Europe represented the largest market for waterborne coatings in 2017. Growth in construction market led by the recovery post-recession is expected to drive market in Europe. Germany’s regulatory body which includes Technische Anleitung (TA) Luft coupled UK’s Environmental Protection Act provides the guideline for lowering VOC content in paints & coatings. This factor is expected to increase the demand for the product by replacing solvent-borne coatings used in construction activities in the region
Asia Pacific held the second largest share of the market in 2017. Shift of major automobile manufactures in Asia Pacific countries such as China, India and Indonesia is also expected to increase the demand. This factor is expected to drive demand from Asia Pacific. Emergence of new industries in Asia Pacific owing to low labor cost and government tax incentives is expected to drive the growth in the region
Waterborne Coatings Market Share Insights
The global market is fragmented in nature with the presence of many key players, such as AkzoNobel N.V., BASF SE, and Axalta Coating Systems LLC among a few others, as well as a few medium and small regional players operating in various parts of the globe.
The competition is primarily driven by the application scope and use of the product in a variety of application industries. The rapid growth of construction and automotive industries, most notably in the emerging economies of Europe, Asia Pacific, and Central & South America, offers various growth opportunities for the manufacturers of these coatings and related raw materials to expand their product portfolios and market reach.
KEY MARKET SEGMENTS:
By Resin Type
The Waterborne Coatings market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Waterborne Coatings market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Waterborne Coatings market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Waterborne Coatings market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Waterborne Coatings market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Waterborne Coatings capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Waterborne Coatings by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Waterborne Coatings market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Waterborne Coatings market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Waterborne Coatings market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Waterborne Coatings industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Waterborne Coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Waterborne Coatings market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Waterborne Coatings market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Waterborne Coatings market. These factors have benefited the growth of the global market for Waterborne Coatings. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Waterborne Coatings. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Microcontroller are as follows:
History Year: 2016-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2020 to 2027
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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