27-Jul-2022 | Facts and Factors
According to Facts and Factors, the global waterborne coatings market size was valued at USD 78.3 billion in 2021 and is predicted to increase at a CAGR of 3.2% to USD 94.5 billion by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.
Rising infrastructural activity across the world is anticipated to boost the demand for multiple coatings and paints. High demand for sustainable alternatives and government subsidies for utilization of the same is projected to boost the use of waterborne coatings over the forecast period. Waterborne coatings are eco-friendly coatings that protect the structure from multiple aspects like heat, corrosion, high temperature, chemicals, etc., and are expected to find a good scope of application in multiple end-use industries as their popularity increases.
Browse the full “Waterborne Coatings Market Size, Share, Growth Analysis Report By Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, Polytetrafluoroethylene, Polyvinylidene Fluoride, Polyvinylidene Chloride, Others), By Application (Architectural, Industrial), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/waterborne-coatings-market
Increasing demand for sustainable construction alternatives and stringent regulations against the use of toxic chemicals are other factors that will boost the demand for waterborne coatings over the years to come. However, a longer time for drying taken by these waterborne coatings is expected to have a hindering effect on the global waterborne coatings market growth over the forecast period.
Segmental Overview
The market is segmented into resin type and application of which the alkyl resin type segment is expected to emerge as a lucrative one over the forecast period. Increasing the use of alkyl resins owing to their characteristic green chemistry and enhanced properties will drive waterborne coatings market growth over the forecast period. Innovation of novel alkyl technologies is also expected to boost the market potential via this segment in the coming years.
The architectural segment holds a lucrative outlook but the industrial segment is expected to rise at a faster growth rate in the coming years. This can be attributed to the increasing use of waterborne coatings in multiple industrial applications to save the components from rust, high temperature, and chemical exposure in order to reduce maintenance and operational costs.
Regional Overview
Asia Pacific region is expected to lead the global waterborne coatings market in terms of demand and will also hold a dominant market share through the forecast period. The rising number of construction projects and rising industrialization are expected to be the most prominent drivers of the waterborne coatings market through 2028. India and China are expected to be the most notable markets for waterborne coatings in this region through 2028. Supportive government initiatives to boost the adoption of sustainable construction products will also boost the waterborne coatings market potential in this region over the forecast period.
The market for waterborne coatings in Europe will also exhibit a lucrative outlook owing to rising sustainability trends and incentivization of the use of sustainable products. In June 2021, PPG a leading name in industrial products announced the expansion of its coating manufacturing facilities in Europe in order to meet rising demand in the region.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 78.3 Billion |
Projected Market Size in 2028 |
USD 94.5 Billion |
CAGR Growth Rate |
3.2% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
BASF SE (Germany), AkzoNobel N.V. (Netherlands), PPG Industries Inc. (US), RPM International Inc. (US), The Sherwin-Williams Company (US), Asian Paints Limited (India), Axalta Coating Systems LLC (US), Nippon Paint Holdings Co. Ltd. (Japan), Kansai Paint Co. Ltd. (Japan), Jotun Group (Norway), and others |
Key Segment |
By Resin Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Competitive Landscape
The report contains qualitative and quantitative research on the global Waterborne coatings Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the major companies operating in the waterborne coatings market are BASF SE (Germany), AkzoNobel N.V. (Netherlands), PPG Industries Inc. (US), RPM International Inc. (US), The Sherwin-Williams Company (US), Asian Paints Limited (India), Axalta Coating Systems LLC (US), Nippon Paint Holdings Co. Ltd. (Japan), Kansai Paint Co. Ltd. (Japan), Jotun Group (Norway), and others.
The Global Waterborne Coating Market is segmented as follows:
By Resin Type
- Acrylic
- Polyester
- Alkyd
- Epoxy
- Polyurethane
- Polytetrafluoroethylene
- Polyvinylidene Fluoride
- Polyvinylidene Chloride
- Others
By Application
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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