Water Soluble Paints Market Size, Share | Industry Report 2023 by AkzoNobel N.V., Axalta Coating Systems, BASF SE, Berger Paints India, Kansai Paint, Nippon Paint Company, The Sherwin-Williams, asian paints, Chenyang Waterborne Paint, Jotun and Sika

Regional Analysis

The Global Water Soluble Paints Market is segmented into five regions Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The Asia Pacific is expected to dominate the Global Water-Soluble Paints Market due to the growing demand from construction and automotive sector. The increasing population along with the growing industrialization are the major factors driving the growth of the regional market. Furthermore, the increasing demand for the product in the making of wooden furniture is driving the growth of the regional market. According to World Bank Study, the organized furniture industry is expected to grow by 20% every year, and a major part of this growth is likely to come from growing consumer markets in Asia.

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The high demand for Water-Soluble Paints from building & construction and automotive drives the market in the North American region.

Europe is another substantial region in the Global Water-Soluble Paints Market due to increasing sustainable infrastructural activities and automotive industries, especially from Western European countries such as Italy, France, the U.K, and others.

Latin America is expected to witness a considerable market growth due to the huge demand for the water-soluble paints from the automotive industries, majorly located in Mexico.

Lastly, the Middle East & Africa is anticipated to showcase a significant growth on account of the increasing demand from infrastructural activities in countries such as Saudi Arabia and the UAE.

Industry Overview

Water-Soluble Paints consist of water-soluble resins whose molecules dissolve completely in water. These resins are usually synthesized using polycondensation or polymerization in an organic medium. These paints contain 30%-40% of solid dissolved in the water-based dispersion media and around 15% of water-miscible organic solvents such as alcohol, glycol ethers, etc. Water-soluble paints contain water as a solvent, which makes them easy to apply and eco-friendly.

The Global Water Soluble Paints Market is majorly driven by its use in building & construction and automotive sector due to their good corrosion protection and high gloss properties. The growing population coupled with the increasing demand for residential and commercial buildings is likely to drive the growth of the Global Water-Soluble Paints Market. The demand for automotive mingled with high disposable income and changing lifestyle is another factor driving the market growth. Furthermore, Water-Soluble Paints are used for painting wood furniture as they allow the wood to shrink and expand without cracking. Collectively, the above-mentioned reasons, are expected to boost the growth of the market in the coming years. Although the Water-Soluble Paints are expensive and of low drying rate, they have several advantages such as low toxicity, low VOC emission, and low fire hazard. Recently, the Dow Chemical Company has introduced a product named AVANSE MV-100 and 200 which are primarily used to coat metallic surfaces. Moreover, the increasing awareness about health and environment-friendly paints amongst consumer and manufacturers is projected to further fuel the Global Water-Soluble Paints Market during the assessment period.

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