Press release
Water-Soluble Paints Market Overview 2018-2023 | Growth Rate Analysis by Leading Companies – BASF SE, AkzoNobel N.V., Axalta Coating Systems, Berger Paints India Limited, Kansai Paint Co.,Ltd.
Water soluble paints contain water as a solvent and around 10%-15% of other solvents such as glycol ethers and alcohols. In water soluble paints, resin binders are dispersed in the solvent in molecular form.
The water soluble paints are majorly used in building & construction activities due to their ease of application, anti-corrosive nature, and glossy finish. The increasing population along with the growing need for housing is likely to fuel the demand for the product. The trend for renovation of houses for interiors and better appearance supported by the increasing disposable income is another factor propelling the market growth. Furthermore, they are less toxic and have low VOC content which makes them eco-friendly. They are majorly used in automotive due to the above mentioned reason. The various resins used for manufacturing water soluble paints are acrylic, polyester, alkyd, and others. Among these, the acrylic based water soluble paints are the leading segment due to their comparatively fast drying rate and enhancing the appearance, hardness, and texture of the surface. However, the high cost of these paints and their low drying rate may challenge the market growth during the years to follow.
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Industry/ Innovation/ Related News:
June 2017– The Sherwin-Williams Co. acquired the Valspar Corp. in the U.S. This acquisition helped the company to step-up new strategies and expand its paints & coating business, globally. The development provides world-class brand, wide the product range, increases the overall sales and revenue, multiple technology and innovation. This helped the company to made value added customers.
April 2017- BASF SE and Landa Labs made the long term partnership in Germany. BASF has employed Landa’s nano-pigment technology in easy dispersible ultra-high-transparency pigments under the color & effects business segment. This development helped to provide excellence of color depth in the production of automotive paints & coatings
June 2017– AkzoNobel expand its U.S. based R&D facility in Houston with the investment of USD 3.5 million. The research facility support the company protective coatings, marine coatings, and specialty coatings businesses. This facility of provides the exceptional platform to the company in paints & coating business.
June 2017- PPG made investment of USD 49 million to open its paint & coating manufacturing facility in Russia. This facility has a capacity to produce about 6.6 million gallons of coatings. This facility not only offer paints & coating application for automotive, industrial, packaging, and marine applications but also technical laboratories for better R&D.
August 2017- Axalta Coating Systems acquired Plascoat Systems Limited in Pennsylvania. Plastcoat has expertise in formulation, manufacturing, and applications of thermoplastic polyolefin coatings. This acquisition helped Axalta to build new heights in paints & coatings industry of meet the customer requirement in more with additional benefits.
Key Player:
AkzoNobel N.V.
Axalta Coating Systems
BASF SE
Berger Paints India Limited
Kansai Paint Co.,Ltd.
Nippon Paint Company Limited
PPG Industries Inc.
Rpm International Inc.
The Sherwin-Williams Company
asian paints
The Valspar Corporation
Tikkurila Oy
Chenyang Waterborne Paint
Jotun
Sika AG
Intended Audience
• Water soluble paints Manufacturers
• Traders and distributors of water-soluble paints
• Research and development institutes
• Potential investors
• Raw material suppliers
• Nationalized laboratory
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