Water-based Coatings Market Research Report - Forecast to 2030

Water-Based Coatings Market: By Product Type (Water-Soluble Paints, Emulsions Paints, Water-Based Alkyds), Resin Type (Acrylic, Polyurethane), End-Use Industries (Building & Construction, Automotive, Electronics, Paper & Packaging) and Region - Forecast to 2030

ID: MRFR/CnM/4287-HCR | January 2023 | Region: Global | 100 Pages         

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Water-Based Coatings Market

Water-Based Coatings Market is projected to be worth USD 111.72 Billion by 2030, registering a CAGR of 5.72% during the forecast period (2022 - 2030).

By Product Type Water-Soluble Paints Emulsions Paints Water-Based Alkyds
By Resin Type Acrylic Polyurethane
By End-Use Industries Building & Construction Automotive Electronics Paper & Packaging
Key Players
Companies Profiled   AkzoNobel N.V. (Netherlands)    Axalta Coating Systems (U.S.)    BASF SE (Germany)    Berger Paints India Limited (India)    Kansai Paint Co.Ltd. (Japan)    Nippon Paint Company Limited (Japan)    PPG Industries Inc. (U.S.)    Rpm International Inc. (U.S.)    The Sherwin-Williams Company (U.S.)    asian paints (India)    The Valspar Corporation (U.S.)    Tikkurila Oyj (Finland)    Chenyang Waterborne Paint (China)    Jotun (Norway)    Sika AG (Switzerland)
Market Driving Forces   Increasing demand from major end-use industries such as building & construction automotive and electronics
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Water-Based Coatings Market Overview

Water-based coatings, otherwise called dispersion coatings, use water as a dissolvable for the scattering of pitch, which makes these kinds of coatings simple to apply and eco-accommodating. The water-based coatings contain around 80% of water with little amounts of solvents like glycol ethers. They have astounding protection from hotness and scraped spots and deal with magnificent attachment to the substrate.

The overall water-based coatings market is on a very basic level dictated by the extending demand from critical end-use undertakings like construction and advancement, vehicle, and devices among others. The design and advancement industry holds a huge part of the market to the extent that both worth and volume, followed by the auto business. These coatings are used mainly in developed activities for waterproofing, sodden fixing, broken filling, mortar added substance, rant compound, and others. The extending revenue for better real establishments and the growing requirement for housing combined with the higher speed of people improvement is presumably going to push the advancement of the market. The use of water-based coatings in the vehicle region gives astonishing finishing and solidarity to the thing. California Air Resources Board (ARB) prescribed waterborne coatings for vehicle coatings to achieve VOC radiation diminishes. Additionally, the water-based covering gives conformal coatings to electronic equipment to safeguard them from dust, soddenness, engineered substances, and outperforming temperature. This is depended upon to fuel the interest for the thing from the equipment business. Also, the interest for the thing is extending from the marine business due to their overwhelming important properties, for instance, glimmer upkeep, strength, incredible stream and evening out characteristics, security from water, build and environment, and extraordinary grasp. Besides this, they are used in the paper and packaging industry for the gathering of paper plates, imploding compartments, layered boxes, roll wrap, and others, which, subsequently, are depended upon to push the market advancement during the evaluation time period. Extreme rules against the usage of dissolvable based coatings, for instance, the Clean Air Act, Clean Water Act, etc are further leaning toward market improvement. Regardless, fluctuating cost of crude parts and the exorbitant water-based coatings may challenge the market advancement.

COVID-19 Analysis

The report provides the strategists, marketers, and senior management with the critical information they need to assess the global water-borne coatings market as it emerges from the COVID-19 shutdown.

Competitive Landscape

Some of the biggest global coatings companies are

  • AkzoNobel N.V. (Netherlands),

  • Axalta Coating Systems (U.S.),

  • BASF SE (Germany),

  • Berger Paints India Limited (India).

  • Japanese companies Nippon Paint,

  • PPG,

  • Rpm,

  • Sherwin-Williams,

  • Asian Paints,

  • Valspar,

  • Tikkurila,

  • Chenyang,

  • Jotun

Market Dynamics

The acrylic portion is assessed to represent the biggest water-based coating piece of the pie during the estimated time frame.

The acrylic portion held the biggest portion of the market and is relied upon to proceed with its strength during the figure time frame. Acrylic waterborne coatings are utilized in a wide scope of utilizations attributable to their substance qualities and extraordinary tasteful properties. The interest for acrylic waterborne coatings is high in the auto, clinical, auto, generally modern, and development businesses. The utilization of acrylic pitch in coatings is continually filling in rising economies, like China and India, as a result of the working on a way of life and rising interest for excellent paints.

In the forecasted period, Architectural is estimated to boost

Aside from having beautiful provisions, building waterborne coatings additionally have defensive elements. For example, outside compositional paints and coatings shield a structure from limits of downpour, daylight, and wind. These coatings likewise discover use in ornamental insides like furnishings, wood flooring, divider works of art, and models. An increment in natural mindfulness among buyers and makers has prompted mechanical developments in the covering business to give reasonable quality items, of superior grade, have esteem added components, and meet worldwide patterns.

Demand will be boosted by the rise in construction activities

Alkyds are utilized widely in compositional coatings – it is perhaps the most profoundly burned-through kind of coating utilized on the planet, notwithstanding the expanding utilization of other film formers.

The accomplishment of alkyd tar frameworks is an aftereffect of their generally minimal expense, adaptability, and long experience with clients. Advertisers of alkyd pitches note that they are part of the way produced using unsaturated fats or oils obtained from sustainable sources, making them greener than most serious covering gums.

Look yet, in addition, to shield it from rankling summers, freezing winters, dousing precipitation, and the everyday siege of UV radiation without blurring, stripping ceaselessly, and breaking.

Other than this, paints and coatings are likewise utilized in the insides of houses to add tones or beautiful purposes, alongside a wide scope of different capacities. Their capacities shift contingent on the kind of climate and room that they are utilized in.

Water-based alkyd coatings are exceptionally sturdy, enduring almost double the standard period (contingent upon definition), with slow disintegration as opposed to harming stripping, which permits simple redesign when required without the need to sand or strip all past stains.

Expanding the development business across the globe principally in India and China is probably going to decidedly affect the market.

Technology Analysis

An increment in ecological mindfulness among buyers and makers has prompted mechanical advancements in the covering business to give reasonable quality itemsto, of top-caliber, have esteem added elements, and meet worldwide patterns. Aside from having enlivening components, building waterborne coatings likewise have defensive provisions. For example, outside structural paints and coatings shield a structure from outrageous scopes of downpour, daylight, and wind. These coatings additionally discover use in beautifying insides like furnishings, wood flooring, divider canvases, and figures.

Market Segmentation

Product type, resin type, region, and end-use are the categorizations into which the global water-based coatings market is divided.

Water-soluble paints, water-based alkyds, emulsions/latex paints, and colloidal coatings constitute the type of products in the global water-based coating market.

Considering resin type, acrylic, formaldehyde, polyurethane, alkyds, epoxy, and others are the categories in which the global water-based coatings market is segregated.

Electronics, marine, paper & packaging, building & construction, automotive, and others classify the end-user types of the global water-based coatings market.

Region-wise, The Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa are the geographical areas in which the global water-based market is divided.

Intended Audience

Water-based coatings Manufacturers

Traders and distributors of water-based coatings

Research and development institutes

Potential investors

Raw material suppliers

Nationalized laboratory

Regional Analysis

The global water-based coatings market is subdivided into the Asia Pacific, Europe, Latin America, and the Middle East, Africa, and North America.

As the global demand for the construction and automotive sector increases in the Asia Pacific region, the market for water-based coatings is expected to grow.  Electronics and the increasing demand for a dynamic lifestyle will contribute to an increase in the market for water-based coatings.

North American construction, automotive, and electronics sectors are driving the demand for water-based coatings.

Western Europe is a major driver for the European economy, due to the demand for robust infrastructural development and automotive industries.Latin America is reliant on Mexico for its automotive industry, which has been growing rapidly.

Finally, the Middle East and Africa are expected to show significant growth due to the growing demand for infrastructure activities in countries such as Saudi Arabia, the UAE, and others.

Recent Developments

November 2021: Michelman, a maker of ecologically friendly innovative materials such as functional water-based coatings, collaborated with CMS Industrial Technologies to develop coating equipment such as Rod, Press Rod, Blade, and Spray Coaters, as well as Slide-Angle Testers. Both companies have a collaborative and customer-centric approach to coating, and they are looking forward to launching new coating opportunities by effectively creating and marketing coating equipment that will better serve the corrugated sector around the world.In November of 2021, Solvay developed Reactsurf 0092, a non-ionic reactive water-based emulsifier for solid epoxy resins that is free of alkylphenol ethoxylates (APE). It is primarily used in industrial coatings, paints, and binders. Solvay's Reactsurf 0092 technology enables for the development of high-performance aqueous epoxy-based coatings that can match or exceed solvent-based (SB) coatings while emitting significantly fewer volatile organic chemicals (VOCs).A memorandum of understanding was signed between Korean Hyundai Heavy Industries and Jotun in June 2019.  According to the MOU, in order to reduce solvent emissions by 90%, Hyundai will make use of the Marine paint provided by Jotun.

In December 2018, Tikkurila dispatched another waterborne fire-retardant Lacquerperiod, Fontefire WF Clear for wooden surfaces. The item improves the excellence of treated surfaces and empowers the covered wood to be utilized in places, like schools and medical clinics, where the fire wellbeing prerequisites are the toughest.

Report Overview

The record consists of the evaluation of the water-based coatings industry and evaluates the measures which have brought about the water-based coatings marketplace growth. It consists of the boom of the water-based coatings marketplace value at a worldwide degree in the course of the forecast period. Various water-based coatings market trends and tendencies that this industry has encountered are covered and measured within the record to provide an understanding of the funding opportunities. This report is a demonstration of the water-based coatings marketplace investment opportunities and enables buyers to make knowledgeable choices comparing the aggressive panorama and the elements that act as drivers and constraints withinside the marketplace.

Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   2030 : Substantial CAGR
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type, Resin Type, End-Use Industries
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   AkzoNobel N.V. (Netherlands), Axalta Coating Systems (U.S.), BASF SE (Germany), Berger Paints India Limited (India), Kansai Paint Co.,Ltd. (Japan), Nippon Paint Company Limited (Japan), PPG Industries Inc. (U.S.), Rpm International Inc. (U.S.), The Sherwin-Williams Company (U.S.), asian paints (India), The Valspar Corporation (U.S.), Tikkurila Oyj (Finland), Chenyang Waterborne Paint (China), Jotun (Norway), and Sika AG (Switzerland)
  Key Market Opportunities   demand for efficient electronics along with the changing lifestyle
  Key Market Drivers   increasing demand from major end-use industries such as building & construction, automotive, and electronics

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Frequently Asked Questions (FAQ) :

Decreasing the cost of unrefined components and the exorbitant cost of the final result can forestall the water-based coatings market from having simple development.

The developing utilization of eco-accommodating items can motivate the water-based coatings market extension.

The Asia Pacific district would start to lead the pack of the water-based coatings market.

Players like BASF SE (Germany), AkzoNobel N.V. (Netherlands), Axalta Coating Systems (U.S.), Kansai Paint Co., Ltd. (Japan), Berger Paints India Limited (India), PPG Industries Inc. (U.S.), Nippon Paint Company Limited (Japan), The Sherwin-Williams Company (U.S.), Rpm International Inc. (U.S.), Tikkurila Oyj (Finland), Chenyang Waterborne Paint (China), Jotun (Norway), Asian Paints (India), The Valspar Corporation (U.S.), and Sika AG (Switzerland) would affect the development of the water-based coatings market.

Methodologies like a bio-accommodating item dispatch, flood in R&D venture, securing, better development, coordinated effort, brand situating, consolidation, and others would help the water-based coatings, market players.