Water Based Enamel Market Analysis, Forecast, and Assessment 2016 - 2024
The demand for water based enamels is increasing on account of a need for protective coating for safeguarding against external environments. Water based enamels offer glazing, enhanced corrosion protection, superior wear resistance, abrasion resistance. They increase the life span of substrates by offering thermal protection, electrical resistivity, and insulation. Since water based enamel can be customized as per the environment of the substrate to be coated or in accordance to end-user application, their demand is increasing substantially. Some of the other advantages of water based enamel that is giving them a wider adoption rate over oil and solvent based enamel include, swift drying, ease of use, lower volatile organic compounds (VOC) emissions, and ease of application. The fact that water-based enamels can be prepared using a wide range of chemistries such as acrylic, styrene butadiene, and polyurethane will also encourage their adoption.
The report takes into consideration the past and present data to analyze or determine the future of the global water based enamel market. It discusses the various factors driving and hampering the market in detail. The impact of these drivers and restraints are also studied in the report. The degree of competition, threat of new entrants, bargaining power of suppliers, threat of substitutes, and bargaining power of buyers are included in the Porter’s five forces analysis.
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Global Water Based Enamel Market: Drivers and Trends
The global water based enamel market is majorly driven by the growing demand from various end-user industries such as furniture, construction, ancillaries, and automotive, among others. As windows, doors, railings, and other indoor applications such as floor board need a highly effective weather resistant, glossy, and opaque finish, the demand for water based enamel is high. In addition to this, water based enamel is extensively used in the furniture industry for cabinets and various other applications on account of their quick drying ability and lower volatile organic compounds emissions. One of the factors encouraging the use of water based enamel is strict government regulations across the globe regarding the use of chemicals that emit high amounts of volatile organic compounds. This is restricting the use of oil based and solvent based enamels, and promoting the use of water based enamel.
Some of the factors challenging the growth of the water based enamel industry include difficulty in getting good quality water based enamel coating in dry and highly humid conditions and the increased number of coats required as compared to solvent based enamel. Water based enamels do not give the same glossy and hardness as offered by oil based enamels, and this will also hamper the growth of the market in the coming years. However, players in the water based enamel industry are striving hard and introducing products with improved performance even in extreme weather conditions. Players are striving to achieve products that require less number of coats, thus increasing making water based enamel viable.
Global Water Based Enamel Market: Segmentation
By geography, Asia Pacific is expected to be a lucrative market owing to a surge in construction activities and growth in furniture industries. China, India, Indonesia, South Korea, and Malaysia are among the top countries fueling demand for water based enamel. The growing disposable incomes in these countries are also behind the growth of the market in the region. The North American market is also expected to be lucrative after Asia Pacific owing to high support from regulatory authorities for using products with lower emissions.
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Key companies mentioned in the report are:
The report profiles key manufacturers in the global water based enamel industry such as The Dow Chemical Company, AkzoNobel NV, Nippon Paint, Asian Paints, PPG Industries Inc., and BASF SE.
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