Report Summary
The market for waterborne coatings was estimated to be worth 78.24 (USD Billion) in 2021 and is projected to grow at a CAGR of 5.7% from 2020 to 2025. The market is expected to be driven by rising expenditure on building and restoration operations in emerging economies of Latin America and Asia Pacific.
The expanding economic climate and the low environmental impact of waterborne coatings are the main reasons why they have achieved so much popularity and recognition around the world. More than 50% of the total volume consumed globally is made up of waterborne formulations, which occupy a significant market share.
The Environment Protection Act, the U.S. EPA, and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), among other laws, set the rules for the regulation of aqueous coatings. The general guidelines for labelling, storage, and use of these raw ingredients are outlined by these regulatory authorities, together with the chemical and physical dangers connected with their usage in the production of aqueous coatings.
Transport, use, and storage of the product and associated raw materials are allowed as long as the safety guidelines are strictly followed. Also expected to help the business are government attempts to boost the amount of water used as a solvent.
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Trends in the Waterborne Coatings Market
Increased construction spending and the need for better infrastructure, particularly in Asia Pacific, are expected to boost the waterborne coatings market over the projected period. The industrialised nations of North America and Europe are expected to have a decline in construction investment, while developing nations in Asia and the Pacific are expected to experience growth.
China, one of the major nations in the Asia-Pacific region, is expected to see the most growth in construction spending, followed by India and Indonesia. The market share of waterborne coatings will certainly increase as a result, particularly in Asia Pacific. The residential and commercial building sectors dominate the Asia Pacific construction market. Due to this aspect, the waterborne coatings market in Asia Pacific has more room to grow throughout the course of the projected period.
Resin Perspectives
The market’s highest share was acrylic coatings, and it is anticipated that this dominance would last throughout the projected period. Due to acrylic coatings’ improved colour and gloss retention under external exposure, the automotive and infrastructure sectors are likely to see increasing demand. The outstanding external durability of acrylic modified polyurethane coatings makes them a popular choice for car refinishing.
Alkyd owned a sizeable portion of the market and is predicted to increase at the quickest rate. Over the projected period, demand is expected to be driven by rising demand in a number of end-use industries, including industrial wood and metal packaging. Because they may be made in a variety of ways, alkyd-based coatings are frequently utilised in caulks, fillers, and sealants for wood finishing.
insights into applications
In 2017, the market’s highest market share belonged to the architectural application sector. Demand for this application area is anticipated to increase because to rising infrastructure spending in the Middle East and Asia Pacific. In architectural applications such as doors, trimmings, window frames, interior & exterior walls, and wood varnishes, waterborne coatings are employed as ornamental coatings.
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By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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