Global Waterborne Coatings Market Size Predicted to Hit $140.7 billion by 2030, At a CAGR of 4.2%, says MarketsandMarkets™
Chicago, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The global "Waterborne Coatings Market is projected to reach USD 124.3 billion by 2027 and USD 140.7 billion by 2030, at a CAGR of 3.8% between 2022 – 2027 and 4.2% between 2028 - 2030, as per the recent study by MarketsandMarkets™. Increasing building & construction activities and infrastructure projects and improving the quality of industrial manufacturing in developing countries are the major growth drivers of the global waterborne coatings market.
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Browse In-Depth TOC On " Waterborne Coatings Market”
454 - Market Data Tables
61 - Figures
386 - Pages
List of Key Players in Waterborne Coatings Market:
- LyondellBasell (US)
- PPG Industries Inc. (US)
- Sherwin-Williams Company (US)
- BASF SE (Germany),
- Akzo Nobel N.V. (Netherlands)
- RPM International Inc. (US)
- Asian Paints Limited (India)
- Axalta Coating Systems, Ltd. (US)
- Nippon Paint Holdings Co. Ltd. (Japan)
- Kansai Paints Co. Ltd. (Japan)
- Jotun Group (Norway)
- Berger Paints India Ltd. (India)
- Teknos Group (Finland)
- Masco Corporation (US)
- Hempel A/S (Denmark)
- DuluxGroup Ltd. (Australia)
- Diamond Vogel Paint Company (US)
- Benjamin Moore & Co. (US)
- Stahl Holdings B.V. (Netherlands)
- Cloverdale Paint Inc. (Canada)
- Brillux GMBH & Co. Kg (Germany)
- Carpoly Chemical Group Co., Ltd. (China)
- Lanco Paints (US)
- KCC Corporation (South Korea)
- Noroo Paints & Coatings Co., Ltd. (South Korea)
- Fujikura Kasei Co., Ltd. (Japan)
Drivers, Restraints, Opportunities and Challenges in Waterborne Coatings Market:
- Drivers: Development of new technologies to enhance the performance of coatings
- Restraints: Expensive waterborne coatings to limit market expansion
- Opportunities: High growth potential in emerging economies
- Challenges: Stringent regulatory policies
Key Findings of the Study:
- The Acrylic resin is expected to account for the largest share of the waterborne coatings market, by resin type, during the forecast period, in terms of value and volume.
- Architectural segment is expected to account for the largest share of in the waterborne coatings market, by application, during the forecast period, in terms of value and volume.
- Asia – Pacific waterborne coatings market is projected to register the largest market share during the forecast period.
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The consumption trend of waterborne coatings depends on growth across various end-use industries, such as industrial and architectural industries. The demand for waterborne coatings is mainly increasing due to their rising applications in the architectural (residential, non-residential), and industrial (automotive, general industries, protective, wood, marine, packaging, coil) industries.
Based on resin type, The acrylic segment is projected to be the largest resin type during the forecast period. Manufacturers are investing in R&D activities to broaden their product portfolio to cater to the consumer market. The growing demand for waterborne coatings also encourages global players to increase their business share and revenue.
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Based on application, the architectural segment is estimated to account for the largest share of the market during the forecast period. Waterborne coatings are majorly used in residential, non-residential, new construction, remodeling & repaint, automotive, general industries, protective, wood, marine, packaging, and coil. Increasing demand from the construction industry is the primary driver of the waterborne coatings market.
Various factors, including environmental regulations & policies against the use of VOCs, increasing public awareness regarding the harmful effects of other coatings, and rising demand for various end-use industries are factors offering growth opportunities for the market.
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