CLEVELAND, Nov. 21, 2016 /PRNewswire/ -- World demand for emulsion polymers in paint and coatings (excluding paper coatings) is forecast to expand a healthy 5.4 percent per year to 5.0 million metric tons in 2020, the fastest growth of any major emulsion market. A continuing shift toward the use of waterborne latex paints -- a trend that is occurring in virtually all parts of the world -- is projected to fuel market gains. Advances are expected to be most pronounced in developing countries, as these markets have the most potential for replacement of solvent-based coatings as well as for more rapid growth in coatings production overall. Healthy growth in building construction activity in North America, combined with a turnaround in Western Europe, will also buoy gains. These and other trends are presented in Global Emulsion Polymers Market, 7th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The reformulation of coatings from solvent-based to water-based systems is the primary strategy that paint suppliers employ to meet VOC requirements. The shift in the coatings product mix toward waterborne products has been most prevalent in North America and Western Europe, where emission limits are most stringent. However, waterborne technology is rapidly gaining favor throughout the world due to emissions legislation as well as performance advantages (e.g., durability, low odor, ease of application and cleanup).
In 2015, water-based paints accounted for just over half of total world paint and coatings output, with solvent-based paints, powder coatings, and radiation curables comprising the remainder. Waterborne types predominate in the architectural paint markets of most regions, with lower rates of use among developing countries (e.g., India) that still rely heavily on lower quality products. Output of water-based products in the Asia/Pacific region is also limited by the predominance of industrial over architectural paints in the large Japanese and South Korean coatings industries.
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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.
SOURCE The Freedonia Group