Water-Based Coatings Market Global Growth by Manufacturers, Major Application Analysis & Forecast To 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.

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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 are 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.

Competitive Analysis:

Some of the Prominent Manufacturers in the Global Water-Based Coatings Market are AkzoNobel N.V. (Netherlands), Axalta Coating Systems (U.S.), BASF SE (Germany), Berger Paints India Limited (India),  Kansai Paint Co.,Ltd. (Japan), Nippon Paint Company Limited (Japan), PPG Industries Inc. (U.S.), Rpm International Inc. (U.S.), The Sherwin-Williams Company (U.S.), asian paints (India), The Valspar Corporation (U.S.), Tikkurila Oyj (Finland), Chenyang Waterborne Paint (China), Jotun (Norway), and Sika AG (Switzerland).

Market Segmentation:

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

Based on 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 are 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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Water-Based Coatings Market 2019 Size, Trends, Growth, Outlook and Forecast to 2023

Water-Based Coatings, also known as dispersion coatings, use water as a solvent for dispersion of resin, which makes these type of coatings easy to apply and eco-friendly. The Water-Based Coatings contain about 80% of water with small quantities of solvents such as glycol ethers. They possess excellent resistance to heat and abrasion and offers excellent adhesion to the substrate.

The Global Water-Based Coating Market is mainly driven by the increasing demand from major end-use industries such as building & construction, automotive, and electronics among others. The building & construction industry holds a major share of the market in terms of both value and volume, followed by the automotive industry. These coatings are used primarily in the construction activities for waterproofing, damp proofing, crack filling, plaster additive, screed compound, and others. The increasing demand for better physical infrastructures and increasing need for housing coupled with the higher rate of population growth are likely to propel the growth of the market. The use of water-based coatings in the automotive sector provides excellent finishing and durability to the product. 

California Air Resources Board (ARB) suggested Waterborne Coatings for automotive coatings to achieve VOC emission reductions. Additionally, the Water-Based Coating provides conformal coatings to electronic circuitry to protect them from dust, moisture, chemicals, and exceeding temperature. This is expected to fuel the demand for the product from the electronics industry. Furthermore, the demand for the product is increasing from the marine industry due to their superior beneficial properties such as gloss retention, durability, good flow and leveling characteristics, resistance to water, chemical & weather, and good adhesion. Apart from this, they are used in paper & packaging industry for the manufacturing of paper plates, folding cartons, corrugated boxes, roll wrap, and others, which, in turn, is expected to propel the market growth during the assessment period. Stringent regulations against the use of solvent-based coatings such as Clean Air Act, Clean Water Act, etc. are further favoring the market growth. However, fluctuating cost of raw materials and the expensive Water-Based Coatings may challenge the market growth.

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Key Players:

Some of the prominent manufacturers in the Global Water-Based Coatings Market are AkzoNobel N.V. (Netherlands), Axalta Coating Systems (U.S.), BASF SE (Germany), Berger Paints India Limited (India), Kansai Paint Co.,Ltd. (Japan), Nippon Paint Company Limited (Japan), PPG Industries Inc. (U.S.), Rpm International Inc. (U.S.), The Sherwin-Williams Company (U.S.), asian paints (India), The Valspar Corporation (U.S.), Tikkurila Oyj (Finland), Chenyang Waterborne Paint (China), Jotun (Norway), and Sika AG (Switzerland).

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 Segment of the Global Water-Based Coatings Market is further segmented into building & construction, automotive, electronics, marine, paper & packaging, and others.

Geographically, the Global Water-Based Coatings Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

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 anticipated to dominate the Global Water-Based Coatings Market due to the growing demand from the construction and automotive sector. Moreover, the demand for efficient electronics along with the changing lifestyle is likely to drive the market growth.

The high demand for water-based coatings from the construction, automotive, and electronics sectors drives the market of the North American region.

The European market is primarily driven by the demand for robust infrastructural development and automotive industries in Western Europe.

The Latin American market is mainly driven by the growing automotive sector in Mexico.

Lastly, the Middle East & Africa is anticipated to showcase a significant growth on account of increasing demand from the infrastructural activities in countries such as Saudi Arabia, the UAE, and others.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: 

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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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