Water-Based Coatings Market Forecast - Size, Share, Trends, Growth, Analysis, Overview and Research 2023

Market Research Future Published a Half-Cooked Research Report on Global Water-Based Coatings Market Research Report- Forecast to 2023

Segmentation:

Global Water-Based Coatings Market Forecast is segmented on the basis of Product Type, Resin Type, End Use and Region.

By Product Type, the Global Water-Based Coatings Market is segmented into water-soluble paints, colloidal coatings, emulsions/latex paints, and water-based alkyds.

By Resin Type, the Global Water-Based Coatings Market is segmented into acrylic, polyurethane, formaldehyde, epoxy, alkyds, and others.

By End Use, the Global Water-Based Coatings Market is segmented into building and construction, electronics, automotive, marine, paper and packaging, and others. The construction industry holds the largest share in the Global Water-Based Coatings Market and is likely to remain the leading revenue generator over the forecast period.

Regional Analysis:

Asia Pacific is likely to dominate the Global Water-Based Coatings Market over the forecast period, followed by North America. The growing automotive and construction industries in Asia Pacific are likely to remain the major contributors to the Global Water-Based Coatings Market over the forecast period. The electronics and marine sectors are also likely to play a key role in the growth of the Water-Based Coatings Market in Asia Pacific over the forecast period, with China playing a leading role.

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Market Outlook:

Global Water-Based Coatings Market is profiled in great detail in the latest research report from Market Research Future (MRFR). The Global Water-Based Coatings Market is mainly analyzed from the point of view of understanding the market's previous growth trajectory and then make studied forecasts and projections about the market's likely growth trajectory over the forecast period from 2016 to 2023. The major drivers and restraints affecting the Global Water-Based Coatings Market are also analyzed in detail in the report.

Water-Based Coatings are widely used in the construction, automotive, marine, electronics and other industries due to their benefits in terms of environmental viability. The conventional solvent-based coatings are still widely used in the industrial sector. However, the growing demand for Water-Based Coatings is majorly driven by the growing demand for environment-friendly alternatives. Water-Based Coatings do not emit poisonous substances into the ecology and are also biodegradable, which means that they have no major impact on the global ecosphere. This has been the major driver for the Global Water-Based Coatings Market.

The growing construction industry is likely to remain a major driver for the Global Water-Based Coatings Market over the forecast period. The construction industry has been driven by the growing urbanization in developing countries, which has driven the demand for new residential construction. As more and more workers migrate from rural areas to cities in search of better employment opportunities, the demand for residential construction is likely to grow at a rapid rate in the coming years. This, allied to the construction industry's increasing efforts to become more environmentally sustainable, has led to a growing demand from the Water-Based Coatings Market in the last few years. The construction industry has taken several steps to go green in the last few years, driven by political motivation as well as the increasing public will. The adoption of Water-Based Coatings is just one of many measures taken by the construction industry to reduce its environmental footprint. This is likely to remain a major driver for the Global Water-Based Coatings Market over the forecast period, as the construction industry is a major end-use application for Water-Based Coatings and is likely to play an important role in the market's development in the coming years.

Browse Key Industry Insights spread across 100 pages with 47 market data tables & 13 figures & charts from the report, “Water-Based Coatings Market Information: By Product Type (Water-Soluble Paints, Emulsions Paints, Water-Based Alkyds), Resin Type (Acrylic, Polyurethane), End-Use Industries (Building & Construction, Automotive, Electronics, Paper & Packaging) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/water-based-coatings-market-5742

Competitive Analysis:

Leading players in the Global Water-Based Coatings Market include Sika AG, Jotun, Chenyang Waterborne Paint, Tikkurila Oyj, The Valspar Corporation, Asian Paints, The Sherwin-Williams Company, RPM International Inc., PPG Industries Inc., Nippon Paint Company Limited, Kansai Paint Co. Ltd., Berger Paints India Limited, BASF SE, Axalta Coating Systems, and AkzoNobel NV.

In October 2019, WEILBURGER Graphics GmbH announced the launch of a new, state-of-the-art production facility for water-based coatings in Gerhardshofen, Germany. The plant is expected to have a production capacity of 30,000 tons once its full capacity is reached.

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Water-Based Coatings Market 2018 Development Trends, Competitive Landscape and Key Regions 2023

MRFR Published Half Cooked Research Report on “Global Water-Based Coatings Market Research Report - Forecast to 2023”.

Nippon Paint Company Limited, PPG Industries Inc., Rpm International Inc., The Sherwin-Williams Company, asian paints, AkzoNobel N.V., Axalta Coating Systems, BASF SE, Berger Paints India Limited, Kansai Paint Co.,Ltd., The Valspar Corporation, Tikkurila Oyj, Chenyang Waterborne Paint, Jotun, and Sika AG among others are the prominent market players at the forefront of competition in the Global Water-Based Coatings Market and are profiled in MRFR Analysis.

Water-Based Coatings Market – Overview

Water-Based Coatings are widely used as they offer various advantages such as reduction of solvent emission into the atmosphere, superior elasticity, and short processing times. It is widely used in some of the end use industries such as paper & packaging, automotive, building & construction, marine, electronics, and others. The Water-Based Coatings Market is estimated to witness significant growth owing to their unique properties coupled with excellent usage in various end use industries specifically in packaging, automotive, and construction. Among the end use industries segment, in 2016, building & construction holds for the largest end use industries segment and is projected to retain their dominance on account of expanding building & construction activities in emerging economies. The factors attributed to the Water-Based Coatings Market growth are significant growth of automotive industry in developing countries, growing automotive production and sales, and expanding construction sector. Moreover, stringent regulations regarding the volatile emission compounds (VOCs) in developed countries is likely to propel the growth of the market during the forecast period.

Geographically, Asia Pacific is estimated to hold the largest Water-Based Coatings Market share in 2016 which is followed by North America and further trailed by Europe. North American Water-Based Coatings Market is predicted to exhibit healthy growth over the forecast period on account of growing awareness regarding the benefits associated with product along with raised consumption in end use application in this region. Asia Pacific is anticipated to witness tremendous growth during the review period in Water-Based Coatings Market owing to increasing application of Water-Based Coatings in various end use application segment. In Asia Pacific, the demand for Water-Based Coatings is expected to enhance in numerous countries such as Indonesia, the Philippines, Taiwan, Japan, South Korea, India, and China due to growing population coupled with shifting of production units for most of the key manufacturers in this region. In Europe, Water-Based Coatings Market is estimated to register above average growth on account of shifting consumer preference towards the Water-Based Coatings coupled with high adoption rate in automotive, electronics, packaging, and construction specifically in Germany, Poland, France, Italy, Belgium, Spain, UK, and Russia.

Industry/ Innovation/ Related News:

August 2018- The Lubrizol Corporation announced to launch new dispersant Solsperse W200. Solsperse W200 is designed to offer rapid dispersion of organic pigments and high-performance carbon blacks into water-based coatings systems. This product launch will help company to extend its product portfolio.

June 2018- Asian Paints announced to invest around USD 610 million at its Mysuru and Visakhapatnam facilities by adding around 1.1 million kilo litre to its present output. The company will increase its water- based paints production capacity to its plants situated in Mysuru and Visakhapatnam. This capacity expansion will strengthen company’s position among the water-based paints manufacturers.

April 2017- Flint Group increased the manufacturing capacity of water-based coatings at its plant located in Willstaett, Germany. This capacity expansion will help company to expand its range of specialty coatings with numerous new formulations.

February 2017- Cascades Sonoco, a joint venture between Sonocco and Cascades announced to invest around USD 16 million in its Alabama based manufacturing plant to develop water-based alternatives to coatings. The capacity expansion will be capable of producing 40,000-50,000 tons of sustainable coated materials annually.

Competitive Landscape

The Water-Based Coatings Report has examined the level of competition amid the major manufacturers in Water-Based Coatings Market as well as industry growth and market scenario. The Global Water-Based Coatings Market consists broad range of producers operating in the market which involves medium level and large-scale suppliers. Some of the main operating manufacturers of water-based coatings which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high-level suppliers belongs to this province specifically from Japan, Australia, China, South Korea, the Philippines, Malaysia, Taiwan, India, and Thailand. Additionally, the key manufacturers of Water-Based Coatings are observed to follow various strategic plans to enhance their product portfolio such as product launches, strategic acquisition, distribution agreements, joint ventures, and mergers, and exclusive agreements. Some of the key operating players in this market are predicted to enhance their manufacturing capacity of Water-Based Coatings to meet the increasing demand for Water-Based Coatings across the globe.

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Water-Based Coatings Market 2018 | Key Players, Industry Segments, Opportunities, Forecast Report 2023

Market Insights

Water-Based Coatings are an eco-friendly option which along with their strong performance capabilities are expected to be key drivers of growth for the Global Water-Based Coating Market.
Some characteristics include ease of application, high resistance to heat & abrasion, and excellent adhesive capabilities. Market Research Future (MRFR) has just released its latest report on the subject and predicts a steady CAGR during the forecast period of 2017 to 2023.

Water-Based Coatings have a vast number of applications in end-use industries such as construction, automotive and electronics. Incidentally, these are some of the most rapidly growing industries globally, and this affects positive growth for the market.

Oscillating costs of raw materials and the relatively high price-point of Water-Based Coatings is expected to challenge market growth. However, growing concerns for the environment and encouraging government support for the use of eco-friendly alternatives such as Water-Based Coatings is expected to fuel market growth during the forecast period. Several countries have passed laws regulating or banning the use of solvent-based coatings. Additionally, the wide range of application combined with the superior performance of products in the market is expected to facilitate healthy market growth.

Key Players

Prominent manufacturers in the market have been analyzed to determine the strategies that affect the competitive landscape. Key players in the Global Water-Based Coatings Market who have been profiled in the report include Jotun, Sika AG, Tikkurila Oyj, Chenyang Waterborne Paint, The Valspar Corporation, AkzoNobel N.V., Axalta Coating Systems, BASF SE, Berger Paints India Limited, Kansai Paint Co. Ltd., Nippon Paint Company Limited, PPG Industries Inc., Rpm International Inc., The Sherwin-Williams Company and Asian Paints.

Latest Industry News
Government authorities in various Chinese cities have issued an order for industries to replace solvent-based coatings with water-based alternatives. Cities such as Shanghai, Tianjin, Nanjing, Zhongshan, and Taizhou have either begun planning or have put measures in place to comply with the order. For instance, in Shanghai, solvent-based coatings have been banned in construction projects. Meanwhile, in Tianjin, the vehicle maintenance industry has been ordered to replace solvent-based coatings by 1st October 2018 and Zhongshan have put measures in place which prohibit the production of paints with over 200g/l of VOCs.

Market Segmentation

The global market for Water-Based Coatings is broadly segmented by product type, resin type, end-use industries, and region.

By Product Type, the market has been segregated to include water-soluble paints, colloidal coatings, emulsions/latex paints, and water-based alkyds.

By Resin Type, the market has been divided into acrylic, formaldehyde, polyurethane, alkyds, epoxy, and others.

By End-User Industries, the market has been segmented to include building & construction, automotive, electronics, marine, paper & packaging and others. Building & construction leads with the most significant share of over 30%.

By Region, the global market is divided into North America, Latin America, Europe, the Middle East & Africa and the Asia Pacific.

Regional Analysis

The Asia Pacific is the strongest contender for the market leader during the forecast period due to the increased demand for application in growing construction activities and the automotive industry. The requirement for eco-friendly and efficient products in emerging economies is expected to drive robust growth for this region.

North America and Europe are the second and third largest regional market segments respectively. The demand for eco-friendly products in developed countries of these regions is a key driver of market growth. Moreover, the ongoing development of infrastructure in these regions and globally growing demand for automobiles is expected to encourage market growth during the review period.
The growing automotive industry in Latin America, namely, Mexico, is predicted to motivate growth for the Water-Based Coating Market in the area.

The presence of rapidly developing countries such as Saudi Arabia, U.A.E, and Qatar are driving significant growth for the Water-Based Coatings Market in the Middle East & Africa. These countries have a high level of construction activities which fuel market growth.

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Water-Based Coatings Market 2018: Overview, Top Key Players, Growth and Analysis by Forecast 2023

Market Overview
Water-Based Coatings use water as a solvent for dispersion of pigments. Thus, it is environment-friendly. Water-Based Coatings contain 80% of water and other solvents such as glycol ethers. Water-Based Coatings offer low toxicity and flammability due to the low VOC and HAP emissions.

Water-Based Coatings are used in various end-use industries such as building & construction, automotive, electronics, marine, paper & packaging, and others. Furthermore, use of this coating in waterproofing, crack filling, plaster additive, screed compound, and others in the construction sector drive the Global Water-Based Coatings Market. The increasing demand for better quality automobiles with superior qualities such as durability and anti-corrosion is another major driver of the market.

Moreover, growing demand for these coatings from electronics industries to protect circuitry system from moisture, chemicals, and dust particles is likely to propel the market growth. The other significant drivers include marine and paper & packaging industries are projected to offer substantial growth avenues for the Global Water-Based Coatings Market in the coming years. The water-soluble paints is the leading segment due to its superior properties such as gloss retention, high corrosion resistance, and good pigment wetting & stability. The Acrylic Water-Based Coatings are leading the market growth as require less time to dry as compared to other coatings.

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Market Segmentation
The Global Water-Based Coatings Market is segmented on the basis of the Product Type, Resin Type, End-Use Industries and Region.

On the Basis of the Product Type, the Global Water-Based Coatings Market is categorized into water-soluble paints, colloidal coatings, emulsions/latex paints, and water-based alkyds.

Based on the Resin Type, the Global Water-Based Coatings Market is segregated as acrylic, formaldehyde, polyurethane, alkyds, epoxy, and others.

The End-User Industries is further segmented into building & construction, automotive, electronics, marine, paper & packaging, and others.

Regional Analysis
The Global Water-Based Coatings Market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The Asia Pacific is expected to lead the Global Water-Based Coatings Market owing to the growing demand from the construction and automotive sector. The high demand for efficient electronics along with high income and changing lifestyle is another major driver of the market in this region.

The North American market is majorly driven by the high demand for Waterborne Coatings from various end-use industries such as construction, automotive, and electronics.

Europe is another major region in the Global Water-Based Coating Market on account of the developing infrastructure and automotive industries, especially in Western Europe.

Latin America and the Middle East & Africa are anticipated to showcase a significant growth owing to the increasing demand for automotive and infrastructural activities respectively.

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