A comprehensive overview of the global Waterborne Coatings market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Waterborne Coatings market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Waterborne Coatings market at regional and country levels. The global Waterborne Coatings Market was stood around USD 70 billion in 2020 and is expected to showcase growth of around 5% during the forecast period (2021-2027).
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Major factors which drive the market for waterborne coating includes strict environment regulation on VOC content in coating products, growing construction activities and industrial production, and increasing awareness among consumers. Further, manufacturers of solvent-based coating face challenges in procurement of raw materials as many of the raw materials are derived from derivatives of crude oil. Prices of raw materials are subject to changes in the prices of crude oil and other petrochemical intermediates, which are linked to international prices and are susceptible to significant volatility from time to time. This in turn, effect the operating margin of the companies and makes the procurement process difficult. Thus, companies are also shifting towards waterborne coating. In waterborne coating, water act as a solvent and most of the waterborne coating has a water content of around 80%, thereby reducing the dependency on crude oil based raw materials. For instance, Indigo Paints Limited, an India-based paints manufacturer, will use its capital generated from initial public offering (IPO), to expand its manufacturing capacities at its existing facility at Pudukkottai in Tamil Nadu, by setting up the additional unit to manufacture water-based paints to cater to the growing demand for these paints.
Global Waterborne Coatings market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By end-user, the market is primarily divided into:
o New Construction
o Remodel & Repaint
o General Industrial
Based on end-user, architectural coating held the significant share in the market owing to rising new construction and repainting activities. With growing income consumer standard of living is also growing resulting in the renovation activities. This in turn is increasing the consumption of waterborne coating. Moreover, reduction in house-repainting cycle has resulted in more frequent consumption of paints in house. In addition, industry is witnessing a gradual shift in consumer preference from traditional whitewash to better, value for quality and value for money paint.
Industrial segment is also likely to showcase robust growth during the forecast period owing to recovery in end-use industry after the severe impact of COVID-19 and increasing demand of high-performance coating product. Further, increasing electrical & electronics industry couple with increasing development and installation of 5G technology is propelling the demand of fluoropolymer coatings.
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Architectural waterborne coatings by end-user, the market is primarily divided into:
· New Construction
· Remodel & Repaint
Based on architectural waterborne coating by type, remodel & repaint accounts for major share owing to reduction in average repainting cycle. In country like India, average re-painting cycle has gradually reduced from repainting the house from an interval of 7 to 8 years in 2010 to 4 to 5 years in 2019 (mostly interior painting). Change in consumer mindset and increasing consumer disposable income has increased the remodeling and repainting activities as consumer are now giving more importance to aesthetics, change in looks and appearance of their premises at regular intervals even while the condition of the existing paint is good.
Global Waterborne Coatings Market Geographical Segmentation Includes:
· North America (United States, Canada, Rest of North America)
· Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
· Rest of World
Asia Pacific accounted for the prominent share in the global waterborne coatings market owing to large population resulting in greater number of houses, large and growing industrial production, increasing urbanization, and rising consumer disposable income. Further, increasing regulation to reduce the content of VOC component from the paints has resulted in the increasing demand of waterborne coating in the region. Further, presence of large national and international players in the market focusing on waterborne coatings is propelling the market. Demand for high performance coating is also expected to increase in the near future in the region countries owing to government favorable policies to support the industries is expected to increase the demand. For instance, Government of India, envisioned a comprehensive program for developing semiconductors and display manufacturing ecosystem in India with a budget of over USD 10.2 billion (INR 76,000 crore). In semiconductor industry, high performance materials like PTFE is widely used for a range of application.
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· Akzo Nobel N.V.
· PPG Industries Inc.
· The Sherwin-Williams Company
· Kansai Paint Co. Ltd.
· Nippon Paint Holdings Co. Ltd.
· BASF SE
· Asian Paints Ltd.
· Axalta Coating Systems Ltd.
· Jotun A/S
· The Chemours Company
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Waterborne Coatings market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global Waterborne Coatings market?
· Which factors are influencing the global Waterborne Coatings market over the forecast period?
· What are the global challenges, threats, and risks in the global Waterborne Coatings market?
· Which factors are propelling and restraining the global Waterborne Coatings market?
· What are the demanding global regions of the global Waterborne Coatings market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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