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Waterborne Coatings Market 2019 analysis by trends, top key players & forecast to 2024

Author : Rahul Varpe | Published Date : 2019-05-13 

Global Market Insights, Inc. provides a detailed overview of Waterborne Coatings Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Waterborne Coatings Market has been gaining mass popularity in recent times, pertaining to the increasing product deployment in several painting applications, driven by their easy usage and quick curing process. Having recognized the potential advantages of these coatings, the renowned biggies in waterborne coatings industry are investing heavily to bring about substantial enhancements in their product portfolio.

For instance, the joint venture between Huayi Chemical Ltd and BASF has made an investment of USD 164 million to establish a new automotive coatings facility in China, focusing on the growing automotive sector across Asia Pacific region. In fact, BASF reported that Asia Pacific region is individually responsible for more than 52% global production of automobiles, owing to which BASF and Huayi Chemicals are jointly planning to manufacture primers, thinners, waterborne and solvent-borne coatings, which will favorably augment the regional waterborne coatings industry share over the years ahead.

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The growing environmental concerns about the hazardous impact of volatile organic compounds on the environment can also be credited for the ongoing waterborne coatings market trends, given that these coatings help reduce VOC content. In this regard, leading chemical manufacturers are developing innovative technologies to comply with regulatory norms for curbing VOC content in the environment.

Recently, the Environmental Protection Agency (EPA) has mandated the use of waterborne coatings for several industrial sectors instead of solvent-based coatings, as it does not contain any hazardous compound. Pertaining to the low levels of flammability and toxicity, many environmentally responsive waterborne coatings industry players have been bringing about substantial changes in their product portfolios. For instance, in October 2017, one of the leading providers of innovative and sustainable coatings solutions, Axalta has considerably expanded its range in waterborne acrylic products.

With the formulation of new coatings, the key players in waterborne coatings market are looking forward to fulfilling the surging requirement of numerous end-use domains. Undeniably, the increasing usage of acrylic coatings for several metal finishing and construction purposes, owing to its toughness, crack resisting, color retention, and long-lasting capability, is slated to influence on waterborne coatings market outlook positively.

Waterborne Coatings Market, By Application

  • Architectural
  • Automotive OEM
  • General Industrial
  • Protective Coatings
  • Industrial Wood
  • Metal Packaging
  • Automotive Refinish
  • Coil
  • Marine
  • Others

Waterborne Coatings Market, By Product

  • Acrylic
  • Epoxy
  • Polyester
  • Alkyd
  • Polyurethane
  • PVDF
  • PVDC
  • PTFE
  • Others

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Given the ongoing trends of environmental safety, many researchers are working continuously to use organic and eco-friendly raw materials from natural resources to manufacture waterborne coatings. For instance, recently, waterborne coatings market witnessed the launch of a green, scalable, and renewable dihydroxy acid from sunflower oil that can be used in the production of waterborne polyurethanes, which would extensively be used for coatings.

The growing investment in R&D activities to evaluate organic and eco-friendly raw materials is thus slated to generate lucrative opportunities for giants in waterborne coatings industry over the years ahead. Global Market Insights, Inc., estimates that waterborne coatings market will amass revenue of more than USD 95 billion by the end of 2024.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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