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Waterborne Coatings Market Size, Share Global Analysis Report, 2022 – 2028
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
Industry Insights
[218+ Pages Report] 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.
Market Overview
Waterborne coatings are an environmentally friendly coating solution that is frequently used on surfaces for a multitude of applications. It can be used to disperse resin and can also be used as a solvent for paints or coatings. Increasing demand for sustainable products is projected to boost the waterborne coatings market potential over the forecast period. The rising scope of application in construction and building applications will also favor the waterborne coatings market potential through 2028. Especially developed economies will see high demand for waterborne coatings over the coming years
Rising construction activity in developing economies and an increasing number of construction projects across the world are expected to boost the waterborne coatings market potential through 2028. Increasing demand for sustainable products and the need for better solutions will further bolster market potential in years to come. However, high time taken to dry is expected to have a hampering effect on the waterborne coatings market potential over the forecast period.
Impact of COVID-19
The COVID-19 pandemic led to a downfall in the waterborne coatings market. The world witnessed lockdowns across multiple nations and this led to a substantial change in industrial activity on a global scale. Shuttering of multiple production facilities and slow down of the construction sector majorly led to a drop in demand for waterborne coatings in 2020. During the pandemic, shortage of raw materials, strict restrictions prohibiting outdoor activity, etc., were factors that further made it difficult for the waterborne coatings companies to run their business efficiently. The waterborne coatings market is expected to make a good recovery in the post-pandemic era as the world returns to normal and construction activity resumes to drive the waterborne coatings market potential over the forecast period.
The complete research study looks at both the qualitative and quantitative aspects of the Waterborne coatings market. Both the demand and supply sides of the market have been investigated. The demand side study examines market income in various regions before comparing it to all of the major countries. The supply side research examines the industry's top rivals, as well as their regional and global presence and strategies. Each major country in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is thoroughly investigated.
Segmentation Analysis
The global Waterborne coatings market is segregated based on resin types, application, and region.
In terms of resin types, the alkyl segment is projected to have a bright outlook over the forecast period. This can be attributed to their green chemistry properties and this factor will prominently drive growth via this segment over the forecast period. New alkyl-based technologies are being innovated by key waterborne coatings manufacturers and this is expected to provide lucrative opportunities for market growth over the coming years.
The architectural segment is expected to hold a significant market share throughout the forecast period but the rising trend of sustainability will drive demand in the industrial segment over the coming years. The rising use of these coatings to protect from fire, heat, corrosion, oil, chemicals, etc. is expected to boost the demand for waterborne coatings through 2028.
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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Regional Landscape
Asia Pacific region leads the global waterborne coatings market in terms of share and accounts for more than 40% of the global waterborne coatings industry landscape. The growth in this region for the waterborne coatings market can mainly be attributed to rising urbanization and industrialization which is increasing demand for waterborne coatings in multiple sectors. China and India are projected to be the most notable markets for waterborne coatings owing to the high demand for infrastructural development in these economies. For example, in October 2020, Sherwin-Williams an American coating manufacturer announced the launch of Pro Industrial Pre-catalyzed Water-based Urethane which is a new coating that will meet the demand for high-performance coatings in commercial applications.
List of Key Players in the Global Waterborne Coatings Market:
- 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)
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
- Architectural
- Industrial
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- 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
Table of Content
Industry Major 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)
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