Waterborne Coatings Market by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC), Application (Architectural and Industrial), and Region (Asia Pacific, North America, Europe, ME&A, South America) - Global Forecast to 2030

Waterborne Coatings Market by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC), Application (Architectural and Industrial), and Region (Asia Pacific, North America, Europe, ME&A, South America) - Global Forecast to 2030

The global waterborne coatings market size was USD 99.2 billion in 2021 and is projected to grow at a CAGR of 3.8% during 2022-2027 and 4.2% during 2028-2030 to reach USD 124.3 billion by 2027 and USD 140.7 billion by 2030. waterborne coatings have low VOC content, a longer pot life, and faster curing ability.

“The epoxy type resin is expected to register the highest CAGR of the overall waterborne coatings market during the forecast period, in terms of volume.”

Epoxy resins are used in protective and floor coatings due to their favorable mechanical properties, corrosion protection, and chemical resistance. Over the past few years, waterborne epoxy coatings have been developed to be environment-friendly with the use of waterborne technology during the manufacturing process, similar to the production of high-solid coatings, solvent-free coatings, and powder coatings. Therehas been an increase in the demand for epoxy resins from the coatings industry. This growth can be attributed to the increasing demand from dairies, pharmaceuticals, food processing units, electronics, aircraft hangars, and automobile workshops. This scenario is expected to continue during the forecast period.

“The architecturalsegment of application is projected to register the highest CAGR during the forecast period.”

Market drivers in this segment are infrastructural growth in various countries, and growth in applications, including residential, and non-residential industry. There is strong demand for these applications from the Asia Pacific region, especially from developing countries such as China, India, Thailand, Indonesia, and Malaysia. Global waterborne coating manufacturers are establishing their manufacturing facilities or sales offices in these emerging regions to cater to the increasing demand.

Asia - Pacific waterborne coatings market is projected to register the highest CAGR during the forecast period.

Asia Pacific is an emerging economy with many rapidly developing countries. Various industry players are willing to invest in this region. Most of the leading players in North America and Europe are planning to shift their manufacturing base to Asia Pacific as it offers inexpensive raw materials, low cost of production, and the ability to serve the local emerging market in a better way. The Asia Pacific region is experiencing increased demand for premium and high-quality products due to the increasing disposable income of the middle-class population. This has led to an increased demand for waterborne coatings in the Asia Pacific market.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the waterborne coatings market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments.

By Company Type: Tier 1 – 60%, Tier 2 – 30%, and Tier 3 – 10%

By Designation: C Level – 30%, D Level – 60%, and Others – 10%

By Region: Europe – 20%, North America – 35%, APAC – 30%, South America- 5%, and the Middle East & Africa – 10%

The key companies profiled in this report are PPG Industries Inc. (US), and Sherwin-Williams Company (US).

Research Coverage:

This report provides detailed segmentation of the waterborne coatings market based on resin type, application, and region. Based on resin type, waterborne coatings industry has been segmented into Acrylic

Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC, and Others. Based on application, the market has been segmented into architectural and industrial. Based on region, the market has been segmented into Asia Pacific, Europe, North America, South America, and the Middle East & Africa.

Key Benefits of Buying the Report

From an insights perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high-growth regions; and market drivers, restraints, opportunities, and challenges.