Published On : September 2017
Global Waterborne Acrylic Coating Market:
A waterborne acrylic coating is an eco-friendly surface treatment that uses water as a solvent to disperse the acrylic resin used to make the coating. This coating has been evaluated as an alternative to solvent-based coating. Water constitutes 80% of the solvent in waterborne acrylic coating. These coatings are easy to apply and is also an eco-friendly product. Waterborne acrylic coatings are widely used in various sub-domains of architectural sector, of which Building & Construction is the dominant end user. The other end users include, woodworking, automotive, packaging and general industry.
Globally, waterborne acrylic coating market has registered a healthy growth rate during the forecast period which is mainly driven by growing urbanization in Asia Pacific, Latin America and Eastern Europe, that resulted into increased in demand for residential, commercial, and industrial infrastructure. Increasing vehicle production in countries including China, India, Mexico, Indonesia, Japan, U.S., South Korea and Germany along with aging of vehicles. Recent trends favoring the use of environment-friendly coating has seen the growth of waterborne coating in architectural and industrial sectors, which is expected to drive the global waterborne acrylic coating market. Additionally, rise in demand among the other end-user industries such as, woodworking, packaging, general and other industries like marine, aerospace & defense etc., are expected to lead the market for global waterborne acrylic coating in the coming years. However, industrial sectors like automotive, packaging, general industry and others are employing wider range of technology to the solvent-borne coatings meet the demand for low VOC (Volatile Organic Compound) emissions which are equally preferred as waterborne coatings. With this option, the industrial sector may favor the continuing use of solvent-borne coatings in these end user industries which is expected to hinder the global waterborne acrylic coating market to some extent.
As per the MRFR analysis, global waterborne acrylic coating market is segmented on the basis of Application, End-User and Region. On the basis of application, market is segmented into construction material, architectural wood, automotive (OEM), automotive (MRO), metal packing, protective coating, and others. By end user, the market is segmented in building & construction, woodworking, automotive, packaging, general and other. On the basis of application, market is segmented in to coating, printing & writing, packaging & boards and others. Regionally, market is segmented into - North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
The global water-born acrylic coating market has been spanned across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region is the most promising region that occupied majority of global market as of 2016. China is the most prominent regional as well as global market driving country. Moreover, the country has huge growth in building & construction activities and has a massive automotive base as well, that plays a crucial role in making Asia Pacific, the largest consumption and manufacturing country across the world. India, Japan and South Korea are the other important markets in this region which are undergoing an economic development, thereby contributing to the regional growth. The factors including, availability of cheap labors and presence of large number of small manufacturers are the other growth driving factors. North America is the second largest region which includes major players including PPG Industries, BASF and Axalta Coatings Systems. The region is anticipated to grow significantly with growing production capacity of both of these companies. Europe expected to grow at relatively slow CAGR in the years to come due to increasing demand of solvent-borne coating in the region.
The waterborne acrylic coating market consist of many players, however the market is mainly dominated by top 5 producers including The Dow Chemical Company, PPG Industries, BASF SE, DIC Corporation, DSM, Nippon Paints Limited and Axalta Coatings Systems. Global market has witnessed the domination of Asia Pacific manufacturers over the past five years due to strict environment pollution regulations in North America and Europe region.