Global Market Insights, Inc. has recently added a report on Waterborne Coatings Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.
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.
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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.
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 market from automotive refinish may exceed 1.5 billion at the end of 2024. Polyurethane is widely used in automotive refinishing owing to excellent color retention, pigment wetting, chip stone resistance, and elasticity. Increasing technological developments supported by rising economic standards is likely to fuel product demand.
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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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 from industrial application may witness gains at over 3.5% by 2024. These coating has wide applications in steel and building structures owing to stringent industry norms pertaining to emissions from VOC content which is likely to boost product demand.
Epoxy coatings market is poised to surpass USD 7.5 billion over the forecast timeframe. It is widely used in transportation, industrial maintenance and floor coatings. Key properties include water & chemical resistance, toughness, durability and high performance thereby promoting product demand.
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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.
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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