Waterborne Acrylic Coatings Market is expected to cross USD 61.31 billion by 2030, at a CAGR of approximately 5.77%.
Waterborne Acrylic coatings are environmentally friendly coatings that are used to treat surfaces of different materials whose basic medium of solvent is water. Water-soluble resins are used in the development and application of these coatings. The common water-soluble resins used are alkyds, acrylics, styrene-butadiene copolymers, and others. Due to the release of low-level Volatile Organic Compounds (VOCs) when water-based resins are used, waterborne coatings are preferred over solvent-borne coatings as they have a comparatively negligible amount of environmental impact.
Other properties of waterborne acrylic coatings that give them the edge over other coatings are resistance towards abrasion, resistance towards heat, excellent adhesion, low flammability, ability to cover bigger surfaces using less amount solution.Industries like automotive, building, woodworking, construction, and packaging are using a waterborne acrylic coating to a great extent.
The major raw materials involved in the extraction and manufacturing of waterborne coatings are pigments, additives, surfactants, and Synthetic resins. The global waterborne acrylic coatings market research shares detailed analysis of the overall consumption of water-based soluble acrylic resins. Rising government initiatives to make use of water-based solvent due to high performance is marketing the growth of the Waterborne Coatings industry.
With the ongoing global pandemic, many industries have seen a downward graph owing to the precautionary measures that need to be taken to contain the spread of the virus. With the medicine and threat, unknown people around the world are scared of the COVID-19 virus. Industries and offices were halted, life came to standstill when lockdowns were imposed by the governments of several countries. Manpower was limited following the rules and regulations imposed by the government during these tough times to keep the industries functioning. Many industries like construction, automotive, white goods, and electronics were slowed seeing the threat at hand weakening the demand and market of paint and its coatings. With strict laws and restrictions to be followed the industries need to maintain a decorum of the government. Furthermore, the industry is eligible to see light and recover from the losses due to a surge in certain segments of the Waterborne coatings industries like that of antimicrobial coatings used in food and healthcare industries.
The global waterborne acrylic coating market research emphasizes the quantitative and qualitative aspects and trends studied and composed by the industrial experts finalizing a piece of collective information on technological advancement, future of the market based on volume and value, market structure, emerging trends, mergers, and acquisitions, strategic alliances, competitive landscape, market penetration, and comprehensive standards of the market.
The Intended Audience of the global waterborne acrylic coating market is Waterborne Acrylic Coating manufacturers, Production Process industries, Raw material suppliers, Traders of Waterborne Acrylic Coatings, distributors of Waterborne Acrylic Coatings, Potential investors, and Nationalized laboratory.
List of Key Players in the Waterborne Acrylic Coating Market
Water-soluble resins in form of Acrylic coatings are environmentally friendly coatings that are used to treat surfaces of different materials whose basic medium of solvent is water. Due to the release of low-level Volatile Organic Compounds (VOCs) when water-based resins are used, waterborne coatings are preferred over solvent-borne coatings as they have a comparatively negligible amount of environmental impact. Other properties of waterborne acrylic coatings that give them an edge over either coating are resistance towards abrasion, resistance towards heat, excellent adhesion, low flammability, ability to cover bigger surfaces using less amount of solution.
Increasing demand for Waterborne Acrylic coatings in end users’ industries like automotive, general industrial, construction, architectural wood, metal packing, electronics, and infrastructure. The growth of automobile production industries in emerging economies like China, India, Malaysia, Germany, and Mexico has fueled the market dynamics of the Waterborne Acrylic coatings market. Rising government initiatives to make use of water-based solvent due to high performance is marketing the growth of the Waterborne Coatings industry.
The study objectives of the global Waterborne Acrylic Coatings Market report are:
The global waterborne acrylic coating market is segmented based on application as architectural wood, automotive aftermarket, protective coatings, construction material, automotive OEM, metal packing, and others.
The global waterborne acrylic coating market is segmented based on the end-user as construction, woodworking, general industries, building, automotive, packaging, and others.
The global waterborne acrylic coating market is segmented based on Resin Outlook as Acrylic, Epoxy, Polyester, PVDC, Polyurethane, Alkyd, PTFE, PVDF, and Others.
The global waterborne acrylic coating market is segmented based on region as North America (The US and Canada), Europe (Germany, Italy, The U.K., France, Spain, Russia, and The Rest of Europe), APAC (China, Japan, India, and The Rest of Asia-Pacific), Latin America (Mexico, Brazil, and Argentina), The Middle East, and Africa.
Asia Pacific is the market-dominant of the global waterborne acrylic coating market accounting for maximum market shape in value and volume term. Because of vast infrastructural developments and rising construction business in developing countries like China, India, and Japan the waterborne acrylic coatings market is expected to have substantial growth. The shifting of the human population from rural to urban areas gave rise to rapid urbanization and has also proved to be driving the waterborne acrylic coating market in the Asia-Pacific region. Automotive sectors have also added to the promotion of the waterborne acrylic coating market in the region offering lucrative opportunities.
A moderate growth of the waterborne acrylic coating market is seen in the regions of Europe and North America due to a comparatively developed economy but is expected to rise in upcoming years seeing to the economic crisis the regions recently suffered. With a drop in the price of crude oil automotive industry is making way for the waterborne acrylic coating industry in the region.
Other economically emerging economies like The Middle East, Africa, and Latin America have seen a trend like that of the Asia-Pacific region.
In June 2019, Hyundai Heavy Industries (HHI) of Korea drew an agreement with Jotun, which enabled HHI to use the new marine paint manufactured by Jotun that helped in the reduction of emissions caused by emissions by 90%. This partnership made the market for HHI by providing the company with better equipment and fall under the radar of the environmental regulations and rules set by the government.
In December 2018, a new waterborne was launched by Tikkurila by the name of Fontefire WF Clear with the properties of fire-retardant lacquer that was used to treat and coat wooden surfaces. This helped in the beautification of the surfaces treated with the bi-product and make the coated wood available for use in hospitals, schools, buildings, etc. with a high requirement of safety and precaution.
The report overview of the global Waterborne Acrylic Coatings Market report is:
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Application, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||PPG Industries, DIC Corporation, Nippon Paints Limited, The Dow Chemical Company, Axalta Coating Systems, BASF SE, DSM, and others.|
|Key Market Opportunities||They have a comparatively negligible amount of environmental impact.|
|Key Market Drivers||Increasing demand for Waterborne Acrylic coatings in end users’ industries|
Frequently Asked Questions (FAQ) :
The global waterborne acrylic coatings market is expected to draw accruals worth USD 61.31 BN by 2023.
The global waterborne acrylic coatings market is projected to grow at approximately 5.77% CAGR during the assessment period (2020-2027).
Widely uses across major industries such as building & construction and automotive, Spurting rise in the global economy.
Asia Pacific holds the largest share in the global waterborne acrylic coating market, followed by North America and Europe, respectively.
PPG Industries, The Dow Chemical Company, BASF SE, DSM, DIC Corporation, Axalta Coating Systems, and Nippon Paints Limited, are some of the major players operating in the waterborne acrylic coating market.