Waterborne Coatings Market Analysis by 2024 | With Key Companies Like PPG Industries, Inc, The Valspar Corporation, Sherwin-Williams, Sika, BASF
Waterborne Coatings Market has been gaining mass popularity in recent times, pertaining to the increasing product deployment in several painting applications, driven by their easy usage and quick curing process.
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Having recognized the potential advantages of these coatings, the renowned biggies in waterborne coatings industry are investing heavily to bring about substantial enhancements in their product portfolio.
For instance, the joint venture between Huayi Chemical Ltd and BASF has made an investment of USD 164 million to establish a new automotive coatings facility in China, focusing on the growing automotive sector across Asia Pacific region.
In fact, BASF reported that Asia Pacific region is individually responsible for more than 52% global production of automobiles, owing to which BASF and Huayi Chemicals are jointly planning to manufacture primers, thinners, waterborne and solvent-borne coatings, which will favorably augment the regional waterborne coatings industry share over the years ahead.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
o BASF SE
o Axalta Coatings Systems LLC
o PPG Industries Inc
o Kansai Paint Co. Ltd
o Nippon Paint Holdings Co. Ltd
o The Valspar Corporation
o The Sherwin-Williams Company
o Berger Paints India Ltd
o Rhino Linings Corporation
o Rodda Paint Co
o Cloverdale Paint Inc.
o Astra Chemtech Pvt Ltd
o Blue River Coatings
o Zearaus Products Inc.
o Solvosol Paints Ltd
o Nanofan Industrial Coatings
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The growing environmental concerns about the hazardous impact of volatile organic compounds on the environment can also be credited for the ongoing waterborne coatings market trends, given that these coatings help reduce VOC content. In this regard, leading chemical manufacturers are developing innovative technologies to comply with regulatory norms for curbing VOC content in the environment.
For instance, Dow has recently developed a new Acrylic-Binder Technology, AVANSE(TM), which emits lesser VOC and can be used for various industrial applications such as protective coatings, masonry, and metal finishing. This initiative, it is believed, will encourage the key participants in waterborne coatings industry to innovate new effective and effective technologies, thereby propelling the business expansion.
Waterborne Coatings Market, By Application
o Automotive OEM
o General Industrial
o Protective Coatings
o Industrial Wood
o Metal Packaging
o Automotive Refinish
Waterborne Coatings Market, By Product
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Recently, the Environmental Protection Agency (EPA) has mandated the use of waterborne coatings for several industrial sectors instead of solvent-based coatings, as it does not contain any hazardous compound. Pertaining to the low levels of flammability and toxicity, many environmentally responsive waterborne coatings industry players have been bringing about substantial changes in their product portfolios.
For instance, in October 2017, one of the leading providers of innovative and sustainable coatings solutions, Axalta has considerably expanded its range in waterborne acrylic products. With the formulation of new coatings, the key players in waterborne coatings market are looking forward to fulfilling the surging requirement of numerous end-use domains.
Undeniably, the increasing usage of acrylic coatings for several metal finishing and construction purposes, owing to its toughness, crack resisting, color retention, and long-lasting capability, is slated to influence on waterborne coatings market outlook positively.
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