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(EstateNewsWire.com, June 28, 2024 ) The report " Waterborne Coatings Market by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC), Application (Architectural and Industrial), and Region (Asia Pacific, North America, Europe, ME&A, South America) - Global Forecast to 2030 " The global waterborne coatings market size was valued at USD 99.2 billion in 2021 and is projected to reach USD 124.3 billion by 2027, growing at a cagr 3.8% during the forecast period.
Browse in-depth TOC on "Waterborne Coatings Market”
454 - Market Data Tables
61 - Figures
386 - Pages
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The Alkyd resin of resin type segment is projected to account for the second-largest share in the waterborne coatings market, in 2030, in terms of volume.
Alkyd waterborne coating is used in a large number of applications, including architectural coatings, furniture coatings, and insulating enamels. Asia Pacific is expected to drive the demand for these coatings due to the steady construction activities in the region. China has witnessed an infrastructural boom in the past two decades, leading to the rapid advancement of building construction activities. The country has various small- and large-scale projects under review, which are expected to boost the demand for alkyd waterborne coatings.
The automotive segment of the industrial application is projected to account for the second-largest share in the waterborne coatings market, in 2030, in terms of volume.
Automotive coatings are an important part of automotive manufacturing since they improve the quality and durability of automobiles. They have excellent mechanical properties that guard against scratches, the environment, and chemical exposure. Interior automotive coatings increase a vehicle’s surface area. The growth of the automotive industry is expected to remain stable over the next two years. Automakers are planning to significantly increase investments in alternative fuels and other technologies, for instance, electric vehicles (EVs) that comply with environmental regulations. These trends are expected to lead to the growth of the automotive industry over the next few years and, in turn, increase the demand for waterborne coatings in automotive applications.
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The waterborne coatings market in Asia Pacific expected to account for the largest share of in the waterborne coatings market during the forecast period, in terms of value and volume.
In this report, the Asia Pacific region is segmented into China, India, Japan, Indonesia, Thailand, and Rest of Asia Pacific. Considered the most promising market, Asia Pacific is expected to continue on these lines during the forecast period. The continuous rise in the manufacturing of products for consumption and also for exports is driving the demand for waterborne coatings in the region. Asia Pacific is an industry hub, with increasing demand for quality products, rising population, and growing end-use industries. The rapid growth of the economy, increasing innovation, and industry consolidations are expected to contribute to the high growth of the waterborne coatings market in the region.
Waterborne Coatings Market Key Players
PPG Industries Inc. (US), Sherwin-Williams Company (US) are some of the players operating in the global waterborne coatings market.
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