Global Waterborne Coatings Market Size, Trends & Growth Opportunity and By Resin Type (Architectural Coating Resins (Vinyl Acetate, Pure Acrylics, Acetates, Styrene Acrylics and Others) (Other Resins (Acrylic based, Epoxy Based, Vinyl Ester, Polyester, and Polyurethane), By End-User (Industrial, Wood, Architectural & Decorative, Automotive, and Others (Packaging & Transportation)), By Region and F

Global Waterborne Coatings Market

The Global Waterborne Coatings Market is expected to grow from US$ 74.5 Billion in 2021 to US$ 113.4 Billion by 2027; it is estimated to grow at a CAGR of 7.24% from 2021 to 2027.

Innovations in waterborne resin are revolutionising the coatings sector. Coatings have one or more solvents as their primary component. The paint's component parts are dissolved by solvents, creating a liquid mixture that may be sprayed. The paint coating is left behind after the solvent has been sprayed to a component and has evaporated. Aqueous coatings frequently use water as a solvent. This coating dissolves completely in water and other solvents since it is made of resin that is water soluble.

Drivers: The increase in demand for aqueous coatings in the automotive and marine industries is the primary driver behind the growth of the global market for these coatings. Due to their excellent performance qualities, such as anti-sealing effects and non-yellowing film, high gloss, and rub resistance, waterborne coatings are becoming more and more popular in the automotive, transportation, and marine industries. This is expected to drive the growth of the global performance coating market over the upcoming years.

Restraints: The drying and cure times for waterborne coatings are longer than for solvent-borne coatings. Waterborne coatings' excellent flow properties change with humidity and have an effect on how the coating is applied. In areas with high humidity, water does not readily evaporate, which results in inadequate treatment and reduced efficacy. Waterborne coatings are typically rendered useless after freezing, making them additionally vulnerable to cold temperatures.

Impact of Covid-19

The pandemic has posed a number of difficulties for producers and suppliers of waterborne coatings, including supply chain interruption, a halt in the production process, and ongoing issues with the transportation and export of both raw materials and finished goods. A number of testing facilities had been shut down to stop the coronavirus from spreading. However, many manufacturing facilities are actively improving COVID-19 protocols and adjusting to the continuous problems with product and process innovation in order to increase their low production capabilities. From this point forward, the market is anticipated to resolve this issue by the end of 2022.

Segmentation By Resin Type: The market is divided into Architectural Coating Resins and Other Resins based on the type of resin used. The majority of the market was occupied by acrylic resins. Because of their superior visual appeal and other chemical attributes, acrylic resins are well suited for employment in a variety of industries, including the construction, automotive, medical, and marine industries, among others. The expansion of these sectors further supports the expansion of the acrylic resin market.

Segmentation By End-User: The market is segmented into Industrial, Wood, Architectural & Decorative, Automotive, and Others based on end-user (Packaging & Transportation). During the forecast period, Architectural & Decorative is anticipated to have the highest CAGR.

Segmentation By Region: Waterborne Coatings Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific will control the largest portion of the market. The demand for waterborne paint has grown as a result of the expansion of industries in the Asia Pacific, including building and construction, automotive, and marine, among others. As a result, this region now holds the greatest market share among all others.

Competitive Landscape: The key players of Waterborne Coatings Market are Akzo Nobel N.V., Arkema, AXALTA, BASF SE, Benjamin Moore & Co., Berger Paints India Limited, Hempel Group, Jotun, Kansai Paint Co., Ltd., KCC CORPORATION, PPG Industries, Inc., The Sherwin-Williams Company, Sika AG, Covestro AG, Dow, Solvay, SILBERLINE MANUFACTURING CO., INC., Hexion., and The Lubrizol Corporation.

Industrial Development

• Laquer and Fontefire WF, a novel watery fire retardant, were introduced by Tikkurila in 2018 suitable for wooden surfaces. The use of coated wood in hospitals and schools, which have the strictest fire safety requirements, is made possible by the fire-retardant Laquer and Fontefire WF, which also increases the appeal of treated surfaces.
• Jotun and Korean Hyundai Heavy Industries have a contract signed in 2019. (HHI). The marine paint from Jotun, which cuts solvent emissions by 90%, will be used in this arrangement by the Korean Hyundai Heavy Industries. Through this alliance, HHI will be able to comply with environmental laws that are designed to cut down on solvent emissions.

Market Taxonomy

By Resin Type

• Architectural Coating Resins
  1. Vinyl Acetate
  2. Pure Acrylics
  3. Acetates
  4. Styrene Acrylics
  5. Others
• Other Resins
  1. Acrylic based
  2. Epoxy Based
  3. Vinyl Ester
  4. Polyester
  5. Polyurethane

By End-User

• Industrial
• Wood
• Architectural & Decorative
• Automotive
• Others (Packaging & Transportation)

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Waterborne Coatings Market?
• What will be the growth rate from 2021 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?