Press release
Waterborne Coatings Market worth $95 bn by 2024 Top key players profiled Axalta, AkzoNobel, PPG Industries, BASF, Sherwin-Williams, Berger Paints, Valspar
Waterborne Coatings Market demand from automotive refinish applications may exceed to USD 1.5 billion at end of forecast timeframe. Growing demand from automotive repairs to enhance aesthetic appeal and recover damages including scratches & fading body paint caused by extreme climatic effects and accident should propel product demand.
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Increasing application outlook in automotive industry owing to compliance with low emission standards set forth by automotive emission control agencies mainly in the U.S. and Europe should propel product demand. These products also provide additional benefits which include protection from harsh weather, UV rays, discoloration and acid rain, thereby promoting waterborne coatings demand.
Waterborne Coatings Market size should exceed USD 95 billion by 2024. Shifting trends towards environment friendly products to reduce harmful effects on surroundings should favor waterborne coatings market size. These coatings are categorized as eco-friendly products containing, low VOC & HAP content which pose potentially less risk to human as well as living environment thereby promoting product demand.
Waterborne Coatings Market, By Application
• Architectural
• Automotive OEM
• General Industrial
• Protective Coatings
• Industrial Wood
• Metal Packaging
• Automotive Refinish
• Coil
• Marine
• Others
Waterborne Coatings Market, By Product
• Acrylic
• Epoxy
• Polyester
• Alkyd
• Polyurethane
• PVDF
• PVDC
• PTFE
• Others
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Architectural applications may witness gains at above 5.5% during forecast timeframe. Increase in living standards has led to rise in renovation, interior decoration and remodeling activities in both residential and commercial construction which should drive waterborne coatings market size. Government initiatives and financial assistance in restoration activities and public infrastructure development mainly in India and China should contribute towards industry growth.
Polyester waterborne coatings market size will surpass USD 1 billion during forecast timeframe due to its excellent film forming properties and pigment dispensability, along with its self-emulsifying type waterborne resin should boost product demand. Recent product developments including waterborne UV coatings synthesized by bio based polyester resins should drive industry growth.
France waterborne coatings market size may surpass USD 6.5 billion in sales by 2024. Presence of major manufacturing companies investing in technological innovations to develop new products with additional properties may favor regional growth.
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Global waterborne coatings industry share is fragmented with industry players including PPG Industries, AkzoNobel, Valspar, Kansai Paints, Sherwin Williams, Axalta and BASF. Key industry participants strategize to expand is production capacity, adopt new production technology and expand its distribution network to other regions.
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