What's driving the Waterborne Coatings Market Trends? Axalta, PPG Industries, BASF, Sherwin-Williams, Berger Paints, Valspar
Polyurethane, PTFE, polyester, polyvinylidene fluoride and chloride are major raw materials used in commercial manufacturing. Volatile raw material cost owing to growing applications in polymer, packaging and automotive industries may hamper industry profitability and widen demand supply gap thereby affecting waterborne coatings market price trends.
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Waterborne Coating Market may surpass USD 95 billion by 2024; according to a new research report. Growing consumer adoption toward green ecofriendly coatings owing to less HAP & VOC content which reduces environmental impacts should drive waterborne coatings market. These coating contains high water content which makes them less toxic and help reducing air emissions thereby promoting product demand.
Strict government standards by EU Commission regarding harmful emission due to VOC content in coatings supported by initiatives including green building program is likely to have positive influence on industry growth. Shifting preferences of architectural profession towards waterborne coatings in compliance with green building standards may favor industry growth.
Germany acrylic coatings market may witness strong gains at over 4.5%. Positive application outlook in road marking, furniture, high traffic interior surfaces including frames, doors and, wall surfaces owing to quick drying, easy cleaning, impact resistance, good gloss & color retention which is likely to drive industry growth.
- 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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U.S. waterborne coatings market from architectural application market may surpass USD 15.5 billion by 2024. These coatings possess excellent adhesion, good abrasion and heat resistance ease of application along with cost effectiveness and protects building structure which is likely to stimulate waterborne coatings market growth.
Waterborne coatings from industrial wood applications may witness steady gains over the foreseeable timeframe. Growing technological developments to develop UV cured waterborne coating for industrial wood applications with high performance and chemical & stain resistance should contribute towards industry growth.
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Global waterborne coatings market share is competitive and moderately fragmented with major player present in this industry includes AkzoNobel, Sherwin Williams, Kansai Paints, PPG Industries BASF and Axalta. Companies are investing in research to develop novel products and technologies including UV technologies which may further drive industry growth.
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