The ****** Waterborne Coatings Market size is estimated to reach USD 146.11 billion by 2022 and is anticipated to grow substantially owing to infrastructure development in commercial and residential sector. Demand for waterborne coatings was the highest from the ****** architectural industry for various applications such as floor finishes, wood vanishes, and facade paints.
Growing demand for eco-friendly, non-hazardous and low Volatile Organic Compounds (VOC) are expected to drive demand for these products. Owing to presence of stringent regulations in the U.S. and European region for these products, VOC content is one of the major issue for the manufacturers.
Also, owing to the increasing disposable income in Latin-America, Middle East & Africa, and Asia-Pacific, demand has grown for decorative paints, renovation activities, and construction sector, projecting to drive the market over the forecast period.
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These coatings contain 80% of water with solvents and glycol ether. The market is expected to upsurge moderately owing to its remarkable Superior properties such as non-corrosive, hardness, stain resistant, adhesion, and flexibility of these products compared to its substitutes are an added advantage. Growing market for copiers, fax machines, computers, and printers are also some of the major drivers for the industrial sector.
In cold climatic condition, adhesive properties of the coatings minimize which a major drawback where its substitutes have an advantage. However, the industry players have been focusing in research and development activities to find solution for these. Another factor hampering the growth of the market is excessive foam production, which occurs mainly in manufacturing and transportation of the coatings.
Resin Outlook (Volume, Kilo Tons; Revenue, USD Million; 2012 – 2022)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2012 – 2022)
- General Industrial
- Automotive OEM
- Metal Packaging
- Protective Coatings
- Automotive Refinish
- Industrial Wood
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The ****** market is highly competitive with many industrial participants in U.S., Europe, Asia-pacific and The Middle East. Key market players are BASF, Axalta, Berger Paints India Ltd, Akzo Nobel NV, The Sherwin-Williams Company, The Valspar Corporation, and Nippon Paint Holdings Company Ltd.
Asian Paints Limited, Hempel A/S, Masco Corporation, Meffert AG Farbwerke, Kansai Paint Co., Ltd., Diamond Vogel, Brillux GmbH & Co, DAW Caparol, Tikkurila Oyj are the other market participants in the industry.
BASF offers the wide range of application including household paints, coil coatings, powder coatings, road marking coatings, architectural finishes, pigment pastes, and paints for vehicles, machinery, & non-ferrous materials.
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