Description:Global Water-Based Coatings Market was valued at USD 57.15 Bn in 2019 and is expected to reach at USD 96.59 Bn by 2027 at a CAGR of 6.78% over the forecast period 2020-2027.
... moreGlobal Water-Based Coatings Market was valued at USD 57.15 Bn in 2019 and is expected to reach at USD 96.59 Bn by 2027 at a CAGR of 6.78% over the forecast period 2020-2027.
Global Water-Based Coatings Market
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The report covers an in-depth analysis of COVID 19 pandemic impact on Global Water-Based Coatings Market by region and on the key players revenue affected till April 2020 and expected short term and long-term impact on the market.
Global Water-Based Coatings Market Dynamics
Water-borne coatings have various benefits such as such as good adhesion, ease of application, lower volatile organic compounds, low cost, high corrosion resistance, and improved weathering. Ecological concerns are playing important role in the coatings industry. Growing awareness pertaining to environment and stringent legislation resulting from environmental concerns are the main reasons behind the increasing use of water-based coatings. The development of environmentally friendly water-based coatings is the greatest achievement of coatings industry. Various factors such as stringent environment regulations on solvent based coatings, growing demand from various end user industries such as paper packaging, building & construction, automotive, and electronics among others, rapid urbanisation and infrastructure development in emerging economies and increasing spending on construction and restoration activities in developed countries are mainly driving the water based coatings market growth over the forecast period.
However, factors such as lack of universal enforcement directives about use of water-based coatings, availability of substitutes and some limitations of water born coatings are restraining the market growth over the forecast period.
Global Water-Based Coatings Market is segmented by product type, resin type, end user and by region. By resin type, the acrylic segment held the highest market share in 2019 and is expected to keep its dominance over the forecast period. These coatings are applicable in many end user industries such as automotive, medical, general industrial and construction industries due to their good adhesive and aesthetic properties. Acrylic coatings protects the printing ink against abrasion, corrosion. Acrylic resin coatings protect the printed product in processes where large levels of heat arises. By application, the building and construction industries held the highest market share in 2019 and is expected to keep its dominance over the forecast period owing to increasing spending on building and construction projects across the globe. Water based coatings are used in doors, window frames and in others to protect from extremes of rain, sunlight, and wind. Building and construction end user is followed by Automotive and Electronics. Automotive end-user segment is expected to hold xx% of market share over the forecast period. The Automotive OEMs are using water-based coatings for aesthetic purpose.
By geography, the APAC held the highest market share in 2019 and is expected to keep its dominance over the forecast period. Factors such as rapidly expanding automotive industry in China, India, South Korea, and Japan, favourable government policies, growing building and construction sector, changing lifestyle with increasing disposable incomes are driving the market growth over in this region. China is leading the APAC water borne coatings market owing to less taxes on water based coatings manufacturers and increased income level. APAC is followed by North America and Europe. North America held 26.67% of global market share in 2019 and is expected to keep its dominance over the forecast period. Developed economies such as United Sates and Canada are driving the market growth in this region. Well-developed automotive sector is the largest consumer of water-based coasting in this region. Europe is expected to hold xx% of market share owing to growing renovation of old buildings and increasing demand from electronics end user.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Water-Based Coatings Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers,... less
