Home > Chemicals & Materials > Paints and Coatings > Specialty Coatings > Waterborne Coatings Market
Waterborne Coatings Market Size
Global waterborne coatings market size exceeded USD 75 billion in 2020 and is estimated to grow at a CAGR of 6% between 2021 and 2027. Growing product demand from the automotive sector due to low toxicity levels and rising adoption in various applications including metal packaging and coil will drive the industry growth during the forecast period.
Waterborne coatings are surface coatings which contain 80% water and a small quantity of other solvents such as polyvinyl ether and glycol. These coatings are environment friendly and are used across various applications including automotive refinish, coils, protective coatings, marine and industrial wood.
Rise in demand for waterborne coatings in marine applications such as anti-corrosion, anti-fouling and self-cleaning agents should boost market growth. The presence of stringent environmental regulations in the marine industry is anticipated to support business growth. The waterborne coatings market has also witnessed increased consumption in industrial wood applications such as furniture, flooring, specialty wood product and mill work. The product helps protect wood and wood substrates from scratches, chemical abrasion and corrosion.
| Report Attributes | Details |
|---|---|
| Base Year: | 2020 |
| Market Size in 2020: | 78660.4 (USD Million) |
| Forecast Period: | 2021 to 2027 |
| 2027 Value Projection: | 115 Billion (USD) |
| Historical Data for: | 2016 to 2027 |
| No. of Pages: | 259 |
| Tables, Charts & Figures: | 234 |
| Segments covered: | Type, Application |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Waterborne Coatings Market Analysis
Global waterborne acrylic coatings segment surpassed USD 45 billion in 2020 and is anticipated to witness significant gains over the forecast timeframe. The product provides excellent flexibility, adhesion, good resistance to heat and requires less amount of coating to cover a particular surface as compared to other solvent-borne coatings. Acrylic coating is widely used on exterior and interior surfaces such as doors, trim, frames, and wall surfaces.
Acrylic coatings offer benefits of excellent color retention and high gloss and are therefore highly preferred for topcoats and metal finishes. Furthermore, the product is also used for home and architectural paints, direct-to-metal exterior coatings for railroad boxcars and hopper cars, thereby accelerating the waterborne coatings market growth during the forecast time span.
The architectural applications segment is anticipated to surpass USD 10 billion by 2027. The product offers eco-friendly characteristics including low volatile organic content (VOC) levels owing to which it is widely used for architectural applications. Coatings on architectural surfaces are used to protect and decorate the surface features from outer as well as inner surface. Rise in demand for water-based coatings rather than solvent-based coatings for architectural applications should propel the waterborne coatings market growth.
The product offers beneficial characteristics of low-odor, safe and easy clean-up which has promoted product utilization in the architectural sector, thereby stimulating market growth. Growth in usage for interior wall paints, floor finishes, façade paints and wood will augment the market scope.
North America industry is poised to surpass USD 25 billion by the end of 2027. Stringent government regulations for supporting eco-friendly products should boost product demand owing to its non-toxic nature. Increasing vehicle manufacturing in the region presents ample growth opportunities.
Waterborne coatings can protect vehicles against abrasion, acid rain, UV radiation, heat resistant and severe weather. Automotive OEMs’ inclination towards these coatings owing to its superior characteristics along with use of environmentally safe products should foster product demand.
Waterborne Coatings Market Share
The waterborne coatings industry is competitive and includes various players such as:
- Sika AG
- BASF SE
- Arkema S.A
- Hempel
- RPM International Inc
- AkzoNobel N.V
- Teknos
- DuPont
- PPG Industries Inc
- Nippon Paints Co. Ltd
Companies are primarily engaged in business strategies such as production expansion, merger and acquisitions for business expansion.
Global Waterborne Coatings market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD million from 2016 to 2027 for the following segments:
Click here to Buy Section of this Report
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
The above information has been provided for the following regions:
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Thailand
- Malaysia
- Latin America
- Brazil
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Frequently Asked Questions (FAQ) :