$91B+ Waterborne Coatings Market by Resin Type, Application and Region - Forecast to 2024
DUBLIN, Jan. 21, 2020 /PRNewswire/ -- The "Waterborne Coatings Market by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC), Application (Architectural and Industrial), Region (APAC, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global waterborne coatings market size is projected to grow from USD 74.1 billion in 2019 to USD 91.8 billion by 2024, at a CAGR of 4.4%, between 2019 and 2024.
The global market for waterborne coatings has witnessed significant growth over the past few years due to the governmental regulations and regulatory policies to reduce harmful VOC emissions, coupled with the consumers' awareness and the rising demand from the end-product manufacturers for low-VOC products. The rising investment in the market, as well as support from the government policies and subsidies, are key factors for the growth of these coatings in both architectural and industrial applications.
The key companies profiled in this report are AkzoNobel N.V. (Netherlands), PPG Industries (US), The Sherwin-Williams Company (US), Nippon Paint Holding Co. Ltd. (Japan), Axalta Coatings System LLC (US), Tikkurila Oyj (Finland), and Jotun A/S (Norway).
The epoxy resin segment is expected is expected to register the highest CAGR of the overall waterborne coatings market during the forecast period.
Epoxy resins are well-known for their excellent chemical and corrosion resistance. This resin is hard and impact resistant. For most applications, epoxy coatings are used as functional coatings for substrate protection, where corrosion resistance, impact resistance, and adhesion are essential. Epoxies are often used for decorative applications. The growing construction, aerospace, and marine industries in the emerging countries of APAC, Europe, and South America, due to increasing disposable income and changing lifestyles have been a major driving factor for the segment.
The waterborne coatings market in the architectural application is projected to register the highest CAGR during the forecast period.
Waterborne architectural coatings possess various favorable properties such as high corrosion and temperature resistance, increased durability of end products, and low fire-hazards risk and, thus, are preferred for use in various commercial and industrial applications. With the growing population and increasing migration of population to the developed nations, the construction industry is estimated to develop substantially in the coming years. There is increasing urbanization and migration toward cities for employment, which results in the development of the housing sector in the urban areas of APAC. This is driving the demand for waterborne coatings market in architectural applications .
APAC waterborne coatings market is projected to register the highest CAGR during the forecast period.
The APAC market is segmented into China, Japan, India, Indonesia, Thailand, and Rest of APAC. The APAC region is expected to continue to account for the largest share of the global waterborne coatings market during the forecast period. China is the largest consumer of waterborne coatings for the past few years. Favorable government policies such as lenient environmental regulations regarding emission levels and lower taxes for manufacturers and increased income levels have resulted in the growth of the waterborne coatings market in China.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Waterborne Coatings Market
4.2 Waterborne Coatings Market, By Resin Type
4.3 Waterborne Coatings Market, Developed vs. Developing Countries
4.4 APAC Waterborne Coatings Market, By Resin Type and Application
4.5 Waterborne Coatings Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Environmental Regulations Boosting the Demand for VOC-Free Coatings
5.2.1.2 High Growth in End-use Industries
5.2.2 Restraints
5.2.2.1 Uneven Enforcement
5.2.2.2 Availability of Substitutes
5.2.2.3 Sensitivity to Humidity
5.2.3 Opportunities
5.2.3.1 Growth Prospects in Highly Regulated Regions
5.2.3.2 High Growth Potential in Emerging Economies
5.2.4 Challenges
5.2.4.1 US-China Trade War
5.2.5 Porter's Five Forces Analysis
6 Waterborne Coatings Market, By Resin Type
6.1 Introduction
6.2 Acrylic
6.2.1 Exceptional Physical Properties are Driving the Demand for Acrylic Resins
6.3 Polyester
6.3.1 Effectiveness of Polyesters in Low-Voc Waterborne Formulations is Driving Their Demand
6.4 Alkyd
6.4.1 High Durability and Good Drying Characteristics are the Factors Driving the Demand for Alkyd Resins
6.5 Epoxy
6.5.1 Epoxy is the Most Versatile Resin Which Finds Applications in Various Industries
6.6 Polyurethane
6.6.1 Excellent Combination of Properties are Influencing the Demand for Polyurethane Coatings
6.7 Polytetrafluoroethylene (PTFE)
6.7.1 Ptfe Coatings are Preferred for General Industrial Applications
6.8 Polyvinylidene Fluoride (PVDF)
6.8.1 Emerging Pvdf Coating Technology is Expected to Gain High Growth in Future
6.9 Polyvinylidene Chloride (PVDC)
6.9.1 Pvdc Imparts A High Gloss Finish on Coated Products
6.1 Others
7 Waterborne Coatings Market, By Application
7.1 Introduction
7.2 Architectural
7.2.1 Residential
7.2.1.1 New Construction
7.2.1.1.1 Rising Homeownership is Leading to the High Growth of the Construction Industry in APAC and the Middle East & Africa
7.2.1.2 Remodel & Repaint
7.2.1.2.1 Harsh Weather Conditions Increase the Need for Renovation and Repair of Constructions Driving the Growth of the Segment
7.2.2 Non-Residential
7.2.2.1 Increased Commercial and Industrial Developments are Expected to Drive the Market in This Segment
7.3 Industrial
7.3.1 Automotive
7.3.1.1 Growing Demand for Electric Vehicles is Likely to Drive the Waterborne Coatings Market
7.3.2 General Industrial
7.3.2.1 Need for Efficient Process and Durable Coatings With Better Aesthetics is Boosting the Market Growth in This Segment
7.3.3 Protective
7.3.3.1 APAC is Emerging as a Strategic Location for Coating Manufacturers in the Protective Application
7.3.4 Wood
7.3.4.1 Increasing Construction and Infrastructure Activities are Increasing the Waterborne Coatings Demand
7.3.5 Marine
7.3.5.1 The Slow Growth of the Shipbuilding Sector is Hampering the Demand for Waterborne Coatings in Marine
7.3.6 Packaging
7.3.6.1 Improved Lifestyles and Changing Food Habits are Leading to the High Growth of the Market
7.3.7 Coil
7.3.7.1 Waterborne Coatings Offer Durability and Cost-Benefit Properties to Coils
7.3.8 Other End-Uses
8 Waterborne Coatings Market, By Region
8.1 Introduction
8.2 APAC
8.2.1 China
8.2.1.1 High Investments By the Government in Infrastructure Development is Leading to the Growth of the Construction Industry of the Country
8.2.2 India
8.2.2.1 A Boom in the Real Estate Industry is Expected to Drive the Waterborne Coatings Market
8.2.3 Japan
8.2.3.1 Investments in Infrastructural Markets By Public and Private Sectors are Expected to Boost the Demand for Waterborne Coatings
8.2.4 Indonesia
8.2.4.1 Increasing Penetration of Japanese Carmakers is Likely to Benefit the Waterborne Coatings Market in the Country
8.2.5 Thailand
8.2.5.1 Automotive Being the Key Industry in the Country Contributes Significantly to the Market Growth
8.2.6 Rest of APAC
8.3 Europe
8.3.1 Germany
8.3.1.1 Favorable Economic Environment for the Construction Sector and Rising Demand for New Homes From New Migrants are Leading to the Market Growth
8.3.2 Russia
8.3.2.1 The Crisis in Automotive Industry Owing to Currency Devaluation is Leading to Moderate Growth of the Market
8.3.3 Italy
8.3.3.1 New Project Finance Rules and Investment Policies in the Construction Sector are Expected to Boost the Market Growth
8.3.4 Turkey
8.3.4.1 Rapid Urbanization and Diversification of Consumer Goods are Positively Impacting the Market
8.3.5 France
8.3.5.1 Reviving Economy Coupled With an Investment in Infrastructure is Expected to Boost the Demand for Waterborne Coatings
8.3.6 UK
8.3.6.1 The Growing Construction Sector Along With Government Spending Will Spur the Waterborne Coatings Market Growth
8.3.7 Spain
8.3.7.1 Increase in Housing Units Boosts the Waterborne Coatings Demand
8.3.8 Rest of Europe
8.4 North America
8.4.1 US
8.4.1.1 Presence of Major Manufacturers is Fueling the Market Growth
8.4.2 Canada
8.4.2.1 The Construction Industry Will Be the Major Contributor to Waterborne Coatings Market Growth
8.4.3 Mexico
8.4.3.1 New Construction in the Residential Segment is Likely to Drive the Waterborne Coatings Market
8.5 Middle East & Africa
8.5.1 Saudi Arabia
8.5.1.1 Government has Made Huge Investments in Infrastructure Development to Boost Tourism
8.5.2 South Africa
8.5.2.1 There is Substantial Demand for Architectural Coatings in Building Projects
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.1.1 Investment Partnership Program has Promoted the Private Sector Participation in Infrastructure Development
8.6.2 Argentina
8.6.2.1 China-Built Projects in the Country Have Improved the Livelihood and Created Employment Opportunities
8.6.3 Rest of South America
9 Competitive Landscape
9.1 Overview
9.2 Competitive Leadership Mapping, 2018
9.2.1 Visionary Leaders
9.2.2 Innovators
9.2.3 Dynamic Differentiators
9.2.4 Emerging Companies
9.3 Strength of Product Portfolio
9.4 Business Strategy Excellence
9.5 Market Ranking Analysis
9.6 Competitive Scenario
9.6.1 Merger & Acquisition
9.6.2 Investment & Expansion
9.6.3 Partnership & Collaboration
9.6.4 New Product Development
10 Company Profiles
10.1 The Sherwin-Williams Company
10.2 BASF SE
10.3 Akzonobel N.V.
10.4 PPG Industries Inc.
10.5 RPM International Inc.
10.6 Asian Paints Limited
10.7 Axalta Coating Systems LLC
10.8 Nippon Paint Holdings Co. Ltd.
10.9 Kansai Paint Co. Ltd.
10.10 Tikkurila OYJ
10.11 Jotun Group
10.12 Other Key Companies
10.12.1 Berger Paints India Ltd.
10.12.2 Teknos Group
10.12.3 Masco Corporation
10.12.4 Hempel A/S
10.12.5 Duluxgroup Ltd.
10.12.6 Diamond-Vogel Paint Company
10.12.7 Benjamin Moore & Co.
10.12.8 Kelly-Moore Paints
10.12.9 Stahl Holdings B.V.
10.12.10 Cromology (Formerly Materis Paints)
10.12.11 Cloverdale Paint Inc.
10.12.12 Brillux GmbH & Co. KG
10.12.13 Carpoly Chemical Group Co. Ltd.
10.12.14 Lanco Paints
For more information about this report visit https://www.researchandmarkets.com/r/vb6sq7
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article