Reduction in house repainting cycle is increasing the consumption of waterborne coatings
- Vikas Kumar
- April 1, 2022
- CHEMICAL, NEWS
- Waterborne coatings market Growth, Waterborne coatings market news, Waterborne coatings market share, Waterborne coatings market Size, Waterborne coatings market Trend
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The global waterborne coatings market was stood around USD 70 billion and is expected to showcase growth of ~5% during the forecast period (2021-2027). The global coating industry witnessing a gradual shift towards painting the house for aesthetic purpose rather than waiting for the paint to get damage completely, this in turn reduces the house repainting cycle. Thereby increasing the consumption of waterborne coatings.
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Waterborne coating is increasing replacing the market of solvent-based coating owing to its lower VOC content. In many cases, waterborne coatings contain up to 80% water with small quantities of other solvents, such as glycol ethers. Further, in countries like US and European Union, waterborne coatings need to have a VOC content of less than 3.5 pounds per gallon, thus making it an environment friendly option also. Moreover, increasing awareness regarding the benefits of waterborne coatings over solvent-based like low toxicity and flammability, low-cost, and longer pot life are increasing the adoption of waterborne coating. Further, over the years, the industrial production has increased manifolds owing to growing population, urbanization, and improving standard of living. This has created demand of product which are not only suffice the general requirement but also safe and provide high-performance. Owing to which companies are focusing on fluoropolymer coatings in order to meet the consumer expectation and provide value addition in the final product. Fluoropolymer coating has non-stick, chemical resistance, non-wetting, corrosion resistance properties. It also has very low dielectric and dissipation factors that provide superior signal insulation to data transmission networks.
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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. Demand of fluoropolymer coating like PTFE is also growing owing to large and growing application areas. Due to its vast range of properties, it is widely used in aerospace and defense, industrial, cookware, and automotive. Further, advancement in digital technology resulted in the requirement of low-latency network in order to deal with large sets of intricate data.
Based on end-user, the market is categorized into architectural and industrial. Among both, 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. Moreover, reduction in house-repainting cycle has resulted in more frequent consumption of paints in house. In addition, industry is witnessing a gradual shift in consumer preference from traditional whitewash to better, value for quality and value for money paint.
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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.
Global Waterborne Coatings Market Segmentation
Market Insight, by Type
- Polytetrafluoroethylene (PTFE)
- Polyvinylidene Fluoride (PVDF)
- Polyvinylidene Chloride (PVDC)
Market Insight, by End-User
- New Construction
- Remodel & Repaint
- General Industrial
Market Insight, by Region
- North America Waterborne Coatings Market
- United States
- Rest of North America
- Europe Waterborne Coatings Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Waterborne Coatings Market
- Rest of Asia-Pacific
- Rest of World Waterborne Coatings Market
Top Company Profiles
- Akzo Nobel N.V.
- PPG Industries Inc.
- The Sherwin-Williams Company
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co. Ltd.
- BASF SE
- Asian Paints Ltd.
- Axalta Coating Systems Ltd.
- Jotun A/S
- The Chemours Company