Global Waterborne Coatings Market 2016-2020
About Waterborne Coatings
Waterborne coating is a type of coating, which uses water as a solvent. Water is used as a dispersal agent for resins, thereby making them eco-friendly and easy to use. Water constitutes 80% of the volume of the paint, with traces of other solvents, such as glycol ethers. These coatings are gaining wide application in the US and Western Europe because of their low level of volatile organic carbon (VOC) content. Waterborne coatings are used to enhance the appearance of buildings, fireproofing systems, offices, and factories, as well as to protect them from moisture, ultraviolet (UV) radiation, and microbes. Paints, primers, lacquers, varnishes, and stains are some of the main types of waterborne coating products. These products are formulated using various types of resins, such as acrylics, alkyds, polyesters, and polyurethanes. Waterborne coatings are further classified as water-soluble paints, emulsion-latex coatings, and water-based alkyd coatings.
Technavio’s analysts forecast the global waterborne coatings market to grow at a CAGR of 4.80% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global waterborne coatings market for 2016-2020. To calculate the market size, Technavio considers the revenue generated through sales of waterborne coating products for applications in the architecture, general, automotive, wood, coil, marine, and other industries. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Waterborne Coatings Market 2016-2020
Technavio recognizes the following companies as the key players in the global waterborne coatings market: Akzo Nobel, Axalta Coating Systems, BASF, PPG Industries, RPM International, and Sherwin-Williams
Other prominent vendors in the market are: Jotun, Kansai Paint, Nippon Paint, Sika, and Valspar.
Commenting on the report, an analyst from Technavio’s team said: “The incorporation of materials such as nanoparticles in waterborne coatings is a relatively new concept in the market. The use of nanocoatings in different end-use industries, such as automotive, construction, and energy, helps minimize material use, reduce wastage, and optimize energy consumption while improving the product performance. Nanocoatings consist of a water-soluble base, which helps in imparting stability to products such as automotive parts and wood furniture.”
According to the report, Despite the performance limitations of waterborne coatings, they are gaining demand in the market owing to these stringent regulations. New product developments and innovations are enabling the emergence of eco-friendly coatings, which are temperature and heat resistant and suitable for end-use industries, such as architecture, marine, wood, and automotive. Thus, the low demand for solvent-free coatings is propelling market growth for waterborne coatings through new coating chemistries and product innovations.
Further, the report states that the global waterborne coatings market is experiencing the introduction of new coating processes that enhance coating efficiency, and thus, reduce the consumption volume of coatings. Growing adoption of specially-designed spray guns with features, such as high-volume-low-pressure and low-pressure-low-volume for waterborne coating applications has led to a decrease in the volume of coatings consumed.
Akzo Nobel, Axalta Coating Systems, BASF, PPG Industries, RPM International, Sherwin-Williams, Jotun, Kansai Paint, Nippon Paint, Sika, Valspar.