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Waterborne Coatings Market

Waterborne Coatings Market Size And Segment by Type (Acrylic, Polyurethane, Epoxy, Alkyd, Polyester, PTFE, PVDC, PVDF, Others), By Application (Architectural, General Industrial, Automotive OEM, Metal Packaging, Protective Coatings, Automotive Refinish, Industrial Wood, Marine, Coil, Others), and by Regions | Global Market Forecast 2022-2028

Report Id: SNS/C&M/1735 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Waterborne Coatings Market Size was valued at USD 79.35 billion in 2021, and is expected to reach USD 117.74 billion by 2028, and grow at a CAGR of 5.8 % over the forecast period 2022-2028.  Waterborne coatings are environmentally beneficial since they use water as a solvent and can be sprayed quickly. They can be used in appliances, architecture, marine, packaging, wood, general industrial, and other applications. Flexibility, adhesion, stain resistance, hardness, and corrosion resistance are some of the features they have.

Waterborne Coatings Market Revenue Graph

Waterborne coatings contain up to 80% water to dissolve additives, resin, pigments, and resin before applying the mixture to the material to be painted's body surface. These eco-friendly coatings are utilised for a wide range of applications, including protective coatings, coils, maritime, and industrial wood. Because of its low toxicity, aqueous coating is in great demand in the automotive industry, and its expanding use in a variety of applications, such as metal packaging and architectural applications, will boost industry growth in the near future.

Market Dynamics:

Drivers:

  • Waterborne coatings are becoming more popular in OEM vehicle applications.

  • Infrastructural development spending should be increased.

  • Demand for VOC-free coatings is increasing as a result of new environmental legislation.

Restraints:

  • Waterborne coatings must have a longer drying time.

  • The cost of aqueous coatings is rising.

  • A lower level of performance than solvent-based coatings

Opportunity:

  • Emerging economies have plenty of potential to grow.

  • Automobile production and sales are increasing.

Challenge:

  • The government is enacting a growing number of regulatory policies.

  • Waterborne coating technology's drawbacks

Impact of Covid-19:

The installation of lockdowns across the globe to reduce the spread of COVID-19 is having a cascading effect on the global waterborne coatings sector. The epidemic has posed various hurdles for waterborne coatings producers and suppliers, including disruption in the supply chain, a halt in the manufacturing process, and ongoing transportation and shipment issues for both raw materials and completed goods. To avoid the spread of coronavirus, some testing laboratories were shut down. However, many manufacturing facilities are currently attempting to increase production capacity by refining COVID-19 standards and adjusting to the increasing challenges of product and process innovation. By the end of 2022, the market is predicted to have overcome this position.

Key Players:

Nippon Paint Holdings Co. Ltd,  Kansai Paint Co. Ltd,Tikkurila OYJ, AkzoNobel N.V. , Sherwin-Williams Company, RPM International Inc., Asian Paints Limited, BASF SE, Jotun Group (Norway, , PPG Industries Inc., Axalta Coating Systems LLC, and other players.

Market Segmentation:

By Type

  • Acrylic

  • Polyurethane

  • Epoxy

  • Alkyd

  • Polyester

  • PTFE

  • PVDC

  • PVDF

  • Others

By Application

  • Architectural

  • General Industrial

  • Automotive OEM

  • Metal Packaging

  • Protective Coatings

  • Automotive Refinish

  • Industrial Wood

  • Marine

  • Coil

  • Others

Waterborne Coatings Market Segment Pie Chart

Regional Analysis:

The Asia-Pacific waterborne coatings market is expected to account for the greatest share of the waterborne coatings industry and have the highest CAGR over the projected period. The growing demand for these coatings from various end-use industries, such as general industrial, automotive, new construction, marine, and remodel & repaint, in countries such as India, China, Malaysia, Taiwan, Indonesia, South Korea, and Vietnam, is expected to drive the region's waterborne coating market.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Waterborne Coatings Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 79.35 Billion
Market Size by 2028 US$ 117.74 Billion
CAGR CAGR of 5.8% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Acrylic, Polyurethane, Epoxy, Alkyd, Polyester, PTFE, PVDC, PVDF, Others),
• By Application (Architectural, General Industrial, Automotive OEM, Metal Packaging, Protective Coatings, Automotive Refinish, Industrial Wood, Marine, Coil, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Nippon Paint Holdings Co. Ltd,  Kansai Paint Co. Ltd,Tikkurila OYJ, AkzoNobel N.V. , Sherwin-Williams Company, RPM International Inc., Asian Paints Limited, BASF SE, Jotun Group (Norway, , PPG Industries Inc., Axalta Coating Systems LLC, and other players.
DRIVERS • Waterborne coatings are becoming more popular in OEM vehicle applications.
• Infrastructural development spending should be increased.
• Demand for VOC-free coatings is increasing as a result of new environmental legislation.
Restraints • Waterborne coatings must have a longer drying time.
• The cost of aqueous coatings is rising.
• A lower level of performance than solvent-based coatings


Frequently Asked Questions (FAQ) :

Ans: Nippon Paint Holdings Co. Ltd (Japan),  Kansai Paint Co. Ltd (Japan),Tikkurila OYJ (Finland), AkzoNobel N.V. (The Netherlands), Sherwin-Williams Company (US), RPM International Inc. (US), Asian Paints Limited (India), BASF SE (Germany), Jotun Group (Norway, PPG Industries Inc. (US) and Axalta Coating Systems LLC (US) are the major key players of  Waterborne Coatings Market.

 

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

 

Ans: Primary or secondary type of research done by this reports.

Ans: Waterborne coatings must have a longer drying time, The cost of aqueous coatings is rising and a lower level of performance than solvent-based coatings are the restraints for Waterborne Coatings Market.

 

Ans: Waterborne Coatings Market Size was valued at USD 79.35 billion in 2021, and expected to reach USD 117.74 billion by 2028, and grow at a CAGR of 5.8  % over the forecast period 2022-2028.  

 


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8.Waterborne Coatings Market Segment, By Type

8.1 Acrylic

8.2 Polyurethane

8.3 Epoxy

8.4 Alkyd

8.5 Polyester

8.6 PTFE

8.7 PVDC

8.8 PVDF

8.9 Others

 

9.Waterborne Coatings Market Segment, By Application

9.1 Architectural

9.2 General Industrial

9.3 Automotive OEM

9.4 Metal Packaging

9.5 Protective Coatings

9.6 Automotive Refinish

9.7 Industrial Wood

9.8 Marine

9.9 Coil

9.10 Others

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

11. Company Profile

11.1  Axalta Coating Systems LLC

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Nippon Paint Holdings Co. Ltd

11.3 Tikkurila OYJ

11.4 AkzoNobel N.V.

11.5 Sherwin-Williams Company

11.6 RPM International Inc.

11.7  Asian Paints Limited

11.8 Kansai Paint Co. Ltd

11.9 BASF SE

11.10 Jotun Group (Norway)

11.11 PPG Industries Inc.

 

12.Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

 

13. Conclusion

 

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Secondary Research

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