Acrylic resins are widely used in the manufacturing of the water-borne coatings industry due to their excellent properties of UV and weather resistance.
According to the latest Arizton's market research report, the global waterborne coatings market size to reach USD 105.05 billion by 2026, growing at a CAGR of 5.07% during the forecast period.
Global Waterborne Coatings Market Growth
Increasing activities in the construction and infrastructure sectors and rising demand for aircraft are expected to boost the market for water-borne coatings. The demand for water-borne coatings in China will be driven by increased investments in the construction, marine, and oil & gas industries. Maintenance in the transportation industry is also expected to fuel the sales of water-borne coatings. The infrastructure and construction sector in Europe is expected to grow as the region decided to invest in infrastructure projects. Thus, investments in various infrastructure projects will lead to an increase in demand for water-borne coatings in the region. The global water-borne coatings market is expected to witness sudden traction in demand during 2021 after the downfall of the market in 2020 due to COVID-19.
What’s trending in the market?
- Acrylic resins are widely used in the manufacturing of the water-borne coatings industry due to their excellent properties of UV and weather resistance.
- Rising foreign investments in APAC are expected to create opportunities in many industries, which will drive the market for water-borne coatings.
- Manufacturers are developing new and innovative technology to manufacture paints and coatings.
- The largest project under the pipeline in the APAC region is in Vietnam, with 7,500 rooms in Mui Dinh Eco-Resort, which will be starting in 2022 and will drive the demand for waterborne coatings market.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by resin type, end-user, and geography
- Competitive Landscape – 5 Key Company Profiles and 32 Other Prominent Vendors
Global Waterborne Coatings Market – Geographical Analysis
The development of electric vehicle infrastructure is one of the key highlights in the automobile industry in the North American region and is driving the demand in the waterborne coating market. The US is the major revenue contributor to the North American water-borne coatings market and accounted for a share of around 89.45% in 2020.
In the US, in residential sectors, 666,990 buildings were constructed by November 2020, suggesting that the demand for water-borne coatings segment in the country will increase in the upcoming years. The demand for water-borne coatings in the country is on a rise due to the demand for VOC-free or lead-free coatings. In the US, the demand for eco-friendly coatings is increasing in residential, industrial, and non-residential construction sectors.
What are the Strategies Adopted by the Players in the Global Waterborne Coatings Market?
Several players in the global waterborne coatings market are expected to expand their presence worldwide during the forecast period, especially in the APAC region, to gain more market share. Due to the high competition and volatile environment in the global water-borne coatings market, future growth will be mainly depending on the ability to anticipate, gauge, and adapt to the changing trends across the market. Players will be able to boost profitability through efficient production techniques which in turn, will minimize production costs and mitigate associated risks in the future. Cost-effectiveness is set to become a major point of competition among players to gain an edge over other vendors in the market.
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