Waterborne Coatings Market Expected to Reach $ 142.7 Bn by 2030
Waterborne Coatings Market Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030
The global waterborne coatings market size accounted for US$ 77.9 billion in 2021 and is projected to surpass around USD 142.7 billion by 2030, growing at a CAGR of 6.96% from 2022 to 2030. The increase in demand for ecologically friendly qualities has been one of the most important trends in the coatings industry
A waterborne coating is an environmentally acceptable surface treatment that disperses the resin used to create the coating or paint using water as a solvent: 80 percent of the solvent is dissolved in water. The coating or paint should be simple to apply and environmentally friendly. The premise that waterborne coatings contain few volatile organic components makes them very popular. It can be used on substrates made of wood and plastic. There are several applications for waterborne coatings.
The most common applications of waterborne coatings: to use as a rapid release coating for the inside of trucks, garbage cans, fly ash hoppers, plastic pellet hoppers, and coal cars that are filled with teflon extenders or PE to cover permeable objects like leather or paper.
Waterborne Coatings Market Key Takeaways:
- Global waterborne acrylic coatings segment registered USD 44.7 billion in 2021
- The architectural applications segment is anticipated to hit USD 15 billion by 2030
- North America market is predicted to hit USD 42 billion by 2030
- Asia Pacific has hit revenue share of 40.5% in 2021
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- On the basis of resin type, the alkyd sector, one of the market leaders, is anticipated to contribute most to the waterborne coatings industry. Waterborne alkyd coatings are popular because of their enhanced properties, ecologically benign chemistry, and low VOC levels. Waterborne alkyd coatings, like the most of resins, require specific defoamers in order to function at their peak. Several companies are introducing a revolutionary watery alkyd resin technology. Modern processing methods are used to produce an aqueous emulsion stabilized by surfactants with an alkyd formulation devoid of solvents. It is a soy-based resin with an alkyd latex base that provides the benefits of a waterborne carrier with a very low VOC level.
- On the basis of application, the architectural protective segment is expected to be the largest segment during forecast period. Materials’ surfaces are coated with these types of protective coatings that shield them from things like severe temperature swings, light, water, chemicals, oil, and more. These coatings have advantages including thermal insulation, waterproofing, and chemical abrasion. The development boom, particularly in the developing nations of Asia-Pacific, is driving the market for architectural coatings worldwide. The market is also influenced by shifting consumer tastes and an increase in public knowledge of the dangers of VOC emissions from architectural coatings. In addition, it is predicted that during the forecast period, the switch from solvent-borne to water-borne coating formulations would support the expansion of the worldwide architectural coatings market.
Waterborne Coatings Market Scope
|Market Size in 2022||USD 83.32 Billion
|Market Size by 2030||USD 142.7 Billion|
|Growth Rate from 2022 to 2030||CAGR of 6.96%|
|Forecast Period||2022 to 2030|
|By Resin Type||
Asia-Pacific held dominant position and has largest share of waterborne coating market. The Asia Pacific region includes numerous economies at different phases of development and across a wide range of industries. High growth rates and huge investments across the automotive, consumer goods & appliances, building & construction, and furniture industries are largely responsible for economic development.
Based on the production and demand for waterborne coatings, it is one of the locations with the fastest rising populations. The Asia Pacific market is anticipated to expand rapidly over the next five years and present considerable business prospects for global participants in waterborne coatings.
Waterborne Coatings Market Dynamics
The increase in demand for ecologically friendly qualities has been one of the most important trends in the coatings industry. The stringent European Union regulations limiting the decrease of volatile organic compound emissions from coatings have had a significant impact on this trend. New laws and rules, such as the Eco-product Certification Scheme, are being implemented by the European Commission and other federal government entities. With low to no hazardous VOC emissions, these requirements guarantee a green and sustainable environment. Additionally, it is projected that Western European and American government regulations, especially those that deal with air pollution, will continue to support the use of innovative, low-pollution coating technologies.
The popularity of waterborne coatings, which contain fewer solvents that evaporate during the curing process than solvent-borne coatings, has gradually increased as a result of growing awareness of the negative impacts of VOC emissions. According to projections, the Asia Pacific region will have the largest and fastest-growing market for waterborne coatings. This can be attributable to the region’s fast expanding construction and automobile industry.
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Waterborne coatings require more drying and curing time than solvent-borne coatings do. Excellent flow characteristics of waterborne coatings fluctuate with humidity and have an impact on how the coating is applied. Water does not readily evaporate in high humidity environments, which leads to poor cure and decreased effectiveness. Additionally susceptible to cold conditions, waterborne coatings frequently become unusable after freezing.
Emerging economies are making large investments in long-term initiatives and infrastructure development. As a result of major investments made by top corporations to take advantage of the prospects in these economies, markets in these nations are growing faster than those in North America and Western Europe. Manufacturers of resin and waterborne coatings have a lot of prospects in the Asia Pacific region, particularly in China and India.
Investments in the building, automotive, electrical & electronics, consumer goods, and appliances industries are rising as a result of rising income and purchasing power of the people in the Asia Pacific and other emerging regions. The construction, automotive, electrical, and other industrial sectors are seeing increasing spending in growing economies like China, India, Russia, and Brazil, providing prospects for manufacturers of waterborne coating resin.
- Coatings producers are obliged to continuously enhance their processes to comply with the new laws as a result of the increasing number of regulatory policies being enacted by various governments. In nations that have severe environmental rules, particularly in Western Europe and North America, products that don’t comply with the law aren’t allowed to be used.
- The reduced atmospheric emissions that result from the use of low-VOC coatings are likewise disregarded by the concentration approach. This problem is expected to be one of the major challenges of waterborne coating market.
Why should you invest in this report?
If you are aiming to enter the global waterborne coatings market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for waterborne coatings are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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