CLEVELAND, Ohio, Jan. 3, 2017 /PRNewswire/ -- Historically, solvent-based coatings have maintained the largest share of protective and specialty coatings. However, solvent-based coatings are projected to be surpassed by water-based coatings by 2020 as regulatory concerns continue to impact the protective and specialty market. Solvents will continue to lose share to other formulations, with trends favoring the use of water-based, high-solids, and other coatings, which have lower or no VOC emissions. These and other trends are presented in Protective & Specialty Coatings Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Demand for water-based coatings in the protective and specialty segment is predicted to expand at an annual rate of 2.5 percent to 85 million gallons in 2020, supplanting solventborne coatings as the market leader. The trend toward waterborne coatings in the automotive refinish market, which historically has widely used solventborne coatings in an array of applications, is of particular importance for this formulation. End users of automotive refinishes have increasingly adopted waterborne coatings due to their improved color matching capabilities and faster drying times than their solvent-based counterparts.
Water-based coatings are also gaining a foothold in protective marine coatings as several worldwide treaties and US regulations have put stringent limits on harmful emissions produced by marine coatings. Waterborne coatings provide good adhesion to the market's primary substrate -- metal -- and offer solid resistance to weather, chemicals, and other harsh conditions in which all varieties of watercraft are exposed.
Related studies include:
#3492 Manufacturing (OEM) Coatings Market in the US (December 2016)
#3461 Global Emulsion Polymer Market (November 2016)
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group