Waterborne Coatings Market: Current Analysis and Forecast (2021-2027)

Waterborne Coatings Market: Current Analysis and Forecast (2021-2027)

The global Waterborne Coatings market was stood around USD 70 billion and is expected to showcase growth of around 5% during the forecast period (2021-2027). Globally, perception regarding the solvent-based coatings is increasingly getting adverse as consumer are becoming more aware about the harmful effects of volatile organic compounds (VOC). Increasing awareness coupled with stringent government regulation is supporting the market of waterborne coatings which have lower VOC content. In addition, adoption of green technologies and bio-based materials has seen to positively impact waterborne coatings demand, globally. Countries like China and India which are among the largest consumer of paints & coatings, however the per capita consumption is very low compared to countries like United States, Singapore, and Canada. Therefore, with increasing income, urbanization along with regulatory changes, the adoption of waterborne coating would increase, thereby increasing the global market of waterborne coating.

Insights Presented in the Report

“Amongst type, acrylic held prominent share in the market in 2020.”

Based on type, the market is categorized into acrylic, alkyd, polyester, epoxy, polyurethane, PTFE, PVDF, PVDC, and others. Among these, acrylic category held the prominent share in the market owing to its usage in various types of paints & coatings like emulsion and latex paints. Further, increasing residential and non-residential construction activities and growing market of automotive refinish. This type of waterborne coatings are used in a wide range of applications owing to their chemical characteristics and unique aesthetic properties.

“Amongst end-user, architectural accounted for major share in the global waterborne coating market

Based on end-user, the market is categorized into architectural and industrial, Industrial is further sub-categorized into automotive, general industrial, protective, wood, marine, packaging, coil, and other. Among all, architectural coating held the significant share in the market owing to rising new construction and repainting activities. With growing income consumer standard of living is also growing resulting in the renovation activities. This in turn is increasing the consumption of waterborne coating. Further, reduction in house-repainting cycle has resulted in more frequent consumption of paints in house.

“Asia Pacific captured significant position in the Waterborne Coatings market”

For a better understanding of the market adoption of Waterborne Coatings, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for significant share in the market and is expected to showcase substantial growth during the forecast period owing to large and growing base of end-use industry due to improving consumer spending power, rapid urbanization, and growing demand for better quality products. Further, increasing strict environment legislation is increasing the adoption of waterborne coating in the region.

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