According to TechSci Research report, “Waterborne Coatings Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Waterborne Coatings Market stood at USD 103.03 billion in 2022 and is anticipated to grow with a CAGR of 4.20% in the forecast period, 2023-2028. The initiatives taken by the government based on Waterborne Coatings have led to favorable market conditions for the Global Waterborne Coatings Market.
Several factors contribute to the growth of various Waterborne Coatings products. In some regions, governments are recognizing the importance of reducing the environmental impact of educational institutes and are taking action by providing specific funding for the use of waterborne coatings. By adopting these coatings, schools not only contribute to a more sustainable future but also set a positive example for other sectors to follow.
One interesting case that showcases the commitment of both the government and industry is the “New Paint for a New Start” initiative announced by PPG, a leading player in the coatings industry, in Hungary. This initiative focuses on transforming primary schools across the country, promoting the use of waterborne coatings, and aligning with government objectives to create a more environmentally friendly educational environment.
By investing in such initiatives, governments and companies are not only addressing environmental concerns but also fostering a culture of sustainability and innovation. This collaborative effort paves the way for a greener future, where educational institutes play a crucial role in leading the transition towards eco-friendly practices.
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The waterborne coatings industry is currently experiencing remarkable advancements in coating technologies, particularly in the area of self-healing and self-cleaning properties. These cutting-edge coatings possess the remarkable ability to repair themselves when damaged, thereby reducing the need for frequent maintenance and repainting. Moreover, they also exhibit a unique resistance to dirt and grime, making them an exceptional choice for various applications, both indoors and outdoors.
Furthermore, the introduction of innovative formulations and technologies is revolutionizing the waterborne coatings industry. For instance, the continuous advancements in waterborne technology have paved the way for the development of coatings that offer superior performance characteristics. These include enhanced resistance to corrosion, improved adhesion to surfaces, and even better gloss retention, resulting in coatings that not only protect but also maintain their aesthetic appeal for extended periods. With such advancements, the waterborne coatings industry is poised for significant growth and transformation, as these new developments continue to push the boundaries of performance, durability, and sustainability in the coating sector.
The Global Waterborne Coatings Market is segmented into resin type, application, regional distribution, and company
Based on its resin type, the alkyd segment held the largest share in the market. Certain paints and transparent coatings utilize alkyd resin, a complex oil-modified polyester, as a key film-forming component. The typical components of alkyd paint include an oil-modified polyester for coating, a solvent like hexane or mineral spirits for application, metal naphthenates for catalyzing the drying reaction, and pigments for color and surface concealment.
Epoxy coatings hold a significant position in the waterborne coating market. They are valued for their ability to produce a durable, long-lasting, and chemically resistant substance. With applications ranging from industrial production facilities to electrical, automotive, and marine sectors, they provide robust and quick-drying protective coatings for metals and other materials.
Their exceptional resistance to corrosion and harsh chemicals makes them excellent choices for safeguarding high-load concrete constructions, pipes, poles, pillars, and reinforcement steel. Subterranean structural foundations and naval vessels also benefit from the numerous advantages of epoxy coatings in corrosion prevention. Additionally, epoxy flooring coatings are commonly utilized in factories and warehouses for their mechanical strength, aesthetic appeal, and resistance to corrosive substances such as oil, chemicals, and weak acids.
Based on region, the Asia Pacific segment is expected to grow during the forecast period. The demand for waterborne coatings is anticipated to rise significantly in the Asia Pacific region, particularly in nations such as China, India, and Indonesia. This surge in demand can be attributed to the relocation of major automakers to these countries, leading to the formation of new sectors and industries.
The region’s low labor costs and government tax incentives further fuel this expansion. With high growth rates and substantial investments in the automotive and furniture industries, the Asia Pacific region is experiencing notable economic development. As a result, the population in this region is rapidly increasing, making it one of the locations with the fastest-rising populations in the world. The production and demand for waterborne coatings play a crucial role in driving this growth and further contributing to the region’s economic progress.
Major companies operating in the Global Waterborne Coatings Market are:
- AkzoNobel NV
- BASF SE
- Axalta Coating Systems LLC
- Berger Paints India Ltd
- Kansai Paint Co., Ltd.
- Nippon Paint Holdings Company Ltd
- PPG Industries Inc.
- RPM International Inc.,
- The Sherwin-Williams Company
- The Valspar Corporation
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“Growing application of Waterborne Coatings in various end user industries are key drivers of the Waterborne Coatings market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of Waterborne Coatings with every passing year are anticipated to register an impressive growth to Global Waterborne Coatings Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Waterborne Coatings Market By Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, Polytetrafluoroethylene (PTFE), Polyvinylidene Fluoride (PVDF), Polyvinylidene Chloride (PVDC), Others), By Application (Architectural, General Metals, Automotive and Industrial), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Waterborne Coatings Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Waterborne Coatings Market.
