Global Water-borne Coatings Market - Segmented by Resin Type, End-user Industry, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global water-borne coatings market registered a value of USD 67,741.43 million, in 2017. It is expected to witness a CAGR of 4.61% during the forecast period, 2018 to 2023. The architectural & decorative segment is expected to be the largest segment, followed by automotive, during the forecast period.
The water-borne coatings use water as a solvent to disperse a resin which makes it eco-friendly and easy to apply. A general water-borne coating contains up to 80% water with small quantities of other solvents. These coatings are also known to be environment-friendly, as US and European regulations require water-borne coatings to have a VOC content of less than 3.5 pounds per gallon of water.
Increasing Demand for Building & Construction
The demand for building & construction industry is mainly due to the rapid urbanization in Asia-Pacific. In China, the housing authorities of Hong Kong have launched various measures to push-start the construction of low-cost housing. The authorities have projected the capital expenditure in construction to be HKD 23,923 million, in its proposed budget for 2018-19, i.e. 7% higher than the budget allotted for the FY2017, in order to construct more affordable flats. Moreover, the North American region has also witnessed growth in the new construction activities. The new residential construction, in terms of annual rate for housing units started in United States, recorded growth of 6.34% in 2016 when compared to that of 2015. In the first 10 months of 2017, the new residential construction recorded a growth of 2.43% when compared to the same time period in 2016. This increase, in construction activities, is expected to drive the demand for water-borne coatings across the globe.
Pure Acrylic Resin based Coatings to Witness the Fastest Growth
The pure acrylic resins contain only acrylic monomers, on which different functionalization can be present. The pure acrylic has outstanding properties, including weather stability and durability. They also show excellent water, aging, and yellowing resistance. The demand for these resins is expected to witness growth in the Asia-Pacific, North American and European regions for construction and automotive industry.
Key Developments in the Market
July 2017: PPG to acquire coatings application service provider — The Crown Group, a US based coatings application services business, from High Road Capital Partners, and Charter Oak Capital Partners
June 2017: Hempel established a new R&D facility solely focused on passive fire protection (PFP) coatings near Barcelona, Spain. The center is likely to be fully functional by the end of 2018
Major Players: Akzonobel N.V., Sherwin Williams, PPG Industries, Nippon Paint Holdings, Axalta, RPM International , among others.
Reasons to Purchase this Report
Current and future of Global Water-borne Coatings Market in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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