The Global Waterborne Coatings Market size is expected to reach USD 115.29 billion in 2028 and register a revenue CAGR of 5.2% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by increasing usage as primers in interior and exterior walls of all kinds of commercial, residential, institutional, and industrial buildings. Besides, Waterborne Coatings are exhibiting high demand for usage in constructional activities. Increased reconstruction and building activities in developed countries is contributing to growing demand for Waterborne Coatings. These coatings also offer elastomeric finishes in various applications such as decks, roofs, and walls. Coupled with this, ability to improve UV resistance of the surface is expected to propel demand for Waterborne Coatings in the upcoming years.

Paint Quality Institute, a paint advising and testing organization declared that water-based paints make up about 80% of household paints. In 2018, more than 484,000 tons of Waterborne Coatings were demanded from the construction infrastructure industries. Furthermore, about one third of these coatings utilized to protect concrete are waterborne. Rising usage of waterborne industrial wood coatings is expected to drive revenue growth of the market during the forecast period. Besides, high demand for eco-friendly coatings is resulting in increasing popularity of Waterborne Coatings. These utilize water as a solvent to disperse a resin, and hence these coatings are eco-friendly and easy to apply.

Moreover, rising demand for polyester coatings among various end-use industries is projected to boost market growth during the forecast period. Industrial and automotive coating industries are increasingly utilizing polyester coatings as these offer high corrosion resistance properties to end-products.

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Top Companies:

Kansai Paint Co., Ltd., Akzo Nobel N.V., Axalta Coating Systems, Ltd., BASF SE, Berger Paints Ltd, Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., RPM International Inc., Sherwin-Williams Company, and Tikkurila Oyj.

Some Key Highlights in the Report

In September 2020, PPG Industries announced that its China-based automotive refinish business developed a new waterborne coating system. This new waterborne coating system comprises of primer surfacer, an epoxy primer, and clearcoat. It is expected to comply with the Volatile Organic Compound (VOC) and environmental standards in China. The advanced system can offer extremely low VOC content, while meeting various properties of traditional systems. Some crucial benefits offered by these new Waterborne Coatings are reduced use of cleaning products, low transportation storage costs, and increased cost savings due to minimal VOC treatment.

Acrylic segment is expected to account for largest revenue share in the global Waterborne Coatings market over the forecast period. Acrylic coatings exhibit superior color and gloss preservation properties during outdoor exposure. Also, high demand for acrylic coatings from the automotive and infrastructure industries is expected to boost revenue growth of the segment.

Architectural segment is expected to account for a considerable revenue share in the global Waterborne Coatings market. These are increasingly utilized as decorative coatings in architectural applications such as window frames, doors, wood varnishes, trims, and interior exterior walls. Rising building and reconstruction activities, especially in developing countries is projected to drive growth of this segment in the near future.

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Market Overview:

The materials and chemicals industry has always employed cutting edge of innovation. It has guided the scientific community as well as individuals to explore new aspects of nature. From medical supplies to paints to perfumes, everything is composed of chemicals. Both new chemical discovery and substance explorations are handled by the materials and chemicals industry. The materials and chemicals industry has always taken a forward-thinking approach, from discovering new compounds to creating new chemical combinations.

This industry includes polymers, dyes, lubricants, surfactants, resins, petrochemicals, bleaches, paints, plastics, soap, detergent, and acids, among other chemicals and chemical products. The materials and chemical industries are known for improving product physical characteristics. Magnetic, optical, structural, and catalytic properties are all altered to increase the product's overall efficacy. Leading players in the materials and chemicals industry have questioned the status quo and produced brilliant inventions that have altered the course of history. Advancement in the materials and chemicals industry can lead other industries in comprehending new types of matter. In this way, it creates a solid foundation for the advancement of society as a whole.

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Resin Type Outlook

Polyurethane

Acrylic

Others

Application Outlook

Industrial

Architectural

Others

Major Regions covered in the report:

North America (U.S.A., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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