LONDON, June 9, 2016 /PRNewswire/ -- "Growth drivers for the waterborne coatings market"
The waterborne coatings market is estimated to grow from USD 58.86 billion in 2015 to USD 75.29 billion by 2020, at a CAGR of 5.05% between 2015 and 2020. The waterborne coatings industry is witnessing high growth because of growth in its applications areas, government regulatory support, and growing demand in the Asia-Pacific region. Waterborne coatings are largely used in waterborne coating applications. Rapid growth of the waterborne coatings market is driven by environmental concerns and increasingly stringent regulations.
"High growth markets for waterborne coatings"
Acrylic-based waterborne coatings account for the maximum share among all types of resins. Acrylic-based waterborne coatings are a viable choice of coatings for several end-use markets such as architectural, automotive and protective applications. They resist extreme weathers and have better oxidation than oil-based paints, alkyds-based coatings, and epoxies-based coatings. Acrylic coatings also provide a polymer structure that has fewer tendencies to absorb ultraviolet light, which helps it in retaining gloss and color for long time.
"Asia-Pacific the largest market for waterborne coatings"
Asia-Pacific has been a bright spot in the global waterborne coatings market in the backdrop of the overall slowdown in global economic development. The growing demand from architectural, automotive, and protective coatings industries is driving the waterborne coatings market in in Asia-Pacific. Concerns for environmental, health, and safety issues are driving the demand for waterborne coatings in the above-mentioned applications. Currently, waterborne coatings are replacing solventborne coatings in many specialty applications. In view of this, waterborne coatings are being expected to account for a major market share in the overall paints and coatings market. The expansion of global trade through sea routes has increased the number of bulk carriers, container ships, and general cargo ships manufactured. This in turn is widening the scope of the water-based marine coatings market in Asia-Pacific. South Korea, Japan, and China are chief shipbuilding countries and will remain the top investment choice for coatings manufacturers.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided in three categories: by company type; by designation; and by region.
- By Company Type: Tier 1 – 45%, Tier 2 – 35%, and Tier 3 – 20%
- By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
- By Region: North America – 35%, Western Europe – 30%, Asia-Pacific – 25%, and RoW- 10%
Companies profiled in the report
- AkzoNobel N.V. (Netherlands)
- Axalta Coating Systems (U.S.)
- BASF SE (Germany)
- The Sherwin-Williams Company (U.S.)
- The Valspar Corporation (U.S.)
- RPM International (U.S.)
- PPG Industries (U.S.)
- Nippon Paint Company (Japan)
- Kansai Paint Company (Japan)
- Tikkurila Oyj (Finland)
- Bergers Paint India Limited (India)
Reasons to buy the report
- A comprehensive coverage and analysis of the waterborne coatings market in Western Europe, North America, Asia-Pacific, and RoW
- Competitive landscape of the major players and their developments in the waterborne coatings market
- Identify opportunities with high-potential for waterborne coatings
- Identify and target high-growth application segments
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