APAC to Dominate Waterborne Coatings Market until 2025
According
to TechSci Research report, “Global Waterborne
Coatings Market By Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane,
Polytetrafluoroethylene (PTFE), Polyvinylidene Fluoride (PVDF), Polyvinylidene
Chloride (PVDC) and Others), By Application (Architectural, General Metals,
Automotive and Industrial), By Region, Competition, Forecast &
Opportunities, 2025”, global waterborne coatings market is expected to
grow at steady CAGR during the forecast period. Increasing construction activities across the globe is one
of the major factor accounting for the growth of global
waterborne coatings market. This is because these waterborne coatings are
utilized for improving the appearance and life expectancy of building structures.
Moreover, worldwide growth in automotive and architectural industry is further
expected to bode well for the growth of global waterborne coatings through the
forecast period. In addition to this, increased focus on research and
development activities globally is positively influencing the growth of global waterborne
coatings market in the years to come. Also, stringent environmental regulations
by the governing bodies coupled with booming economic growth in emerging economies
is making headway for the growth of global waterborne coatings market. However,
presence of other better alternatives such as powder coatings is the major factor
that might restrain the growth of global waterborne coatings market through
2025.
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Global
waterborne coatings market can be segmented based on resin type, application, company and
region. Considering the resin type, the market is fragmented into Acrylic,
Polyester, Alkyd, Epoxy, Polyurethane, Polytetrafluoroethylene (PTFE),
Polyvinylidene Fluoride (PVDF), Polyvinylidene Chloride (PVDC) and Others. The acrylic
segment dominated the global waterborne coatings market in terms of largest
revenue until 2019 and is further anticipated to lead the market during the
forecast period, as these acrylic waterborne coatings are widely used owing to
its chemical characteristics as well as unique aesthetic properties.
Additionally, demand for the product is high in the several industries
including medical, construction, automotive and general industrial due to the
superior hardness and durability properties of this resin, thereby positively
influencing the growth of the segment in the coming years.
BASF
SE, AkzoNobel N.V., PPG Industries Inc, RPM International Inc., The
Sherwin-Williams Company, Asian Paints Limited, Axalta Coating Systems LLC,
Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd, Jotun Group, Tikkurila
OYJ. are among others are the leading players operating in global waterborne
coatings market. The leading players are adopting several growth strategies to
enhance the market scenario of waterborne coatings. Other competitive
strategies include mergers & acquisitions to diverse their product portfolio
in order to strengthen their market position. For instance, in June 2019, Jotun
signed an agreement with Korean Hyundai Heavy Industries, so that HHI can use
the Jotun’s new marine paint that minimizes solvent emissions by around 90% in
order to meet the environmental regulations.
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“Asia-Pacific is forecast to dominate the global waterborne coatings market
in the next 5 years on the account of increasing product demand from various
emerging economics in the region such as such as China, India, Malaysia,
Taiwan, South Korea, Indonesia, and Vietnam. Moreover, reduced taxes for the manufacturers
along with increased income level in China are also contributing to the growing
trend. Furthermore, strict regulations in paints & coatings industry are further
expected to boost the growth of global waterborne coatings market through 2025.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Waterborne Coatings Market By Resin Type (Acrylic,
Polyester, Alkyd, Epoxy, Polyurethane, Polytetrafluoroethylene (PTFE),
Polyvinylidene Fluoride (PVDF), Polyvinylidene Chloride (PVDC) and Others), By
Application (Architectural, General Metals, Automotive and Industrial), By
Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global waterborne
coatings market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global waterborne coatings market.
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