Waterborne Coatings Market Latest trends to 2024 By Top Manufacturers Sherwin-Williams, Berger Paints, BASF, Valspar, Kansai Paint Co.,Ltd, Tikkurila Oyj, Cloverdale Paint Inc., Sika, PPG Industries, Axalta
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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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.
These products finds application in furniture, plastic, wood paints and printing inks industry. Polyurethane, polyacrylate and polyvinyl ethers are used as binders while epoxy and alkyd resins are used to formulate product applications. Recent technology advancements including latent crosslinking, core-shell technology & 1K technology enhancing its ease to clean properties and developing green chemistry based resins should stimulate product demand.
- Waterborne Coatings Market, By Application
• Automotive OEM
• General Industrial
• Protective Coatings
• Industrial Wood
• Metal Packaging
• Automotive Refinish
- Waterborne Coatings Market, By Product
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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.
Waterborne coatings 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.
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.
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U.S. waterborne coatings demand may surpass USD 15.5 billion by end of 2024. Positive indicators towards increase in infrastructure spending along with growth of automobile sector should drive regional growth. Stringent norms by EPA & OSHA to minimize VOC content to limit toxicity levels should promote product demand.
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