Water-Based Coatings Market Insights, Leading Players, Industry Statistics, Business Opportunities, Forthcoming Developments and Future Investments 2020 to 2027
Market Synopsis:
Water-based
coatings are anticipated to witness an upsurge in demand over the next couple
of years. The study published by Market Research Future (MRFR) has highlighted
that the global water-based coatings market is anticipated to mark a moderate
growth rate over the assessment period 2016 to 2023. The rising demand for
automobiles is poised to fuel demand for the product in the upcoming years.
The growth of the
construction sector is also projected to catalyze the expansion of the water-based
coatings market in the forthcoming years. It is extensively used for
applications such as crack filling, damp proofing, waterproofing, etc. Rising
applications across different industry vertical are projected to lead the
expansion of the market in the nearby future.
Market
Segmentation:
On the basis of
product type, the global water-based coatings market has been segmented into
colloidal coatings, emulsions/latex paints, water-soluble paints, and
water-based alkyds.
On the basis of resin
type, the water-based coatings market has been segmented into acrylic, alkyds, formaldehyde,
epoxy, polyurethane, and others.
On the basis of
end-user, the global water-based coatings market has been segmented into
automotive, paper & packaging, electronics, building & construction, marine,
and others.
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Regional
Analysis:
The global
water-based coatings market, on the basis of region, has been segmented into Asia
Pacific, North America, Europe, Latin America, and the Middle East & Africa
(MEA). Asia Pacific is projected to dictate the growth of the global market
over the next couple of years. The presence of fast-developing economies such
as China and India that exhibits rapid industrialization and urbanization are
expected to contribute most significantly to the development of the region. Also,
the changing lifestyle in the region coupled with rising disposable income is
anticipated to fuel demand for water-based coatings over the next few years.
The rising demand for automobiles is expected to play a significant role in the
growth of the water-based coatings market in the foreseeable future. Increasing
construction projects is also poised to boost the expansion of the water-based
coatings market over the next couple of years in the region. In addition, the growing
demand for electronics is likely to influence the proliferation of the market
positively in the upcoming years.
North America
region is anticipated to grow substantially over the forecast period. The
growth of the region can be ascribed to the rising demand for water-based
coatings from the end-user industries such as construction, automotive, etc. Rising
investments for the development of these end-user industries is likely to pave
the way for the growth of the water-based coatings market in the region across
the projection period.
The developed
economies in the Western Europe is expected to catalyze revenue creation of the
Europe segment in the forthcoming years. Advancements in the automotive sector
of the region are prognosticated to encourage the pace of growth of the
water-based coatings market in the region over the next couple of years.
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The growth of
Latin America can be primarily ascribed to the developments in the automotive
sector of Mexico. The Middle East & Africa’s expansion is anticipated to be
driven by the expansion of the end-user industries in developed Middle Eastern
nations such as Saudi Arabia, the UAE, etc.
Competitive
Dashboard:
The prominent
players participating in the landscape of the global water-based coatings
market and studied in this MRFR report are Axalta Coating Systems (U.S.), AkzoNobel
N.V. (Netherlands), BASF SE (Germany), Kansai Paint Co., Ltd. (Japan), Berger
Paints India Limited (India), Nippon
Paint Company Limited (Japan), Rpm International Inc. (U.S.), PPG Industries
Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation
(U.S.), Asian Paints (India), Tikkurila Oyj (Finland), Jotun (Norway), Chenyang
Waterborne Paint (China), and Sika AG (Switzerland).
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