Press Release / Business / Worldwide Waterbased Coating with Focus on Current and Future Plans 2024
Worldwide Waterbased Coating with Focus on Current and Future Plans 2024
By Raunny vats on September 19 2018 | 241 Views
Waterbased coatings, also identified as dispersion coatings have become a leading technology in the industry, as they are ecologically friendly, odourless and tasteless. These coatings dry physically
Description:
Waterbased coatings, also identified as dispersion coatings have become a leading technology in the industry, as they are ecologically friendly, odourless and tasteless. These coatings dry physically by means of the absorption into the substrate and evaporation of water, which is attained through hot air and infrared. Moreover, they also offer numerous advantages such as reduction of solvent emissions into the atmosphere, short processing times, outstanding elasticity and resistance of the coating film to temperature shifts & atmospheric agents. Furthermore, the waterbased coatings also provide ease of over coatings.
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Key Driving Factors and restraints of The Water Coating Market:
The global market is estimated and forecasted in terms of revenue (USD million) generated by the waterbased coatings market. The global waterbased coatings market is witnessing sustainable growth owing to increasing demand for building & construction and growth in automotive production in Asia-Pacific & Europe. Moreover, the overall market is also being propelled by growth in the application areas of waterbased coatings such as, architectural & decorative, marine, wood, packaging & transportation etc. Moreover, growth prospects in highly regulated regions would further provide significant growth opportunities to this market. However, the global waterbased coatings market is hampered by uneven enforcement and availability of cost-effective substitutes of waterbased coatings.
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The report analyses the global waterbased coatings market based on resin type, application and geography.
Based on resin type:
The market is segmented into acrylic, alkyd, epoxy, polyester, polyurethane, PTFE, PVDC, PVDF and others. Among all resins, the acrylic accounted for the largest market share of the waterbased coatings market in 2017. This growth is attributed to outstanding properties offered by them such as, weather stability and durability.
Based on various applications:
This market is categorized architectural & decorative, automotive, industrial, marine, wood and others (packaging & transportation). Among these, the architectural & decorative segment accounted for the largest share in 2017, due to rising urbanization worldwide, causing augmented demand for residential, commercial, and industrial infrastructure. Whereas, the automotive segment is projected to grow at the highest CAGR during the forecast period, due to surging use of waterbased coatings in automotive applications across APAC and European region.
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By geography:
Asia Pacific accounted for the largest share in 2017 and is also expected to grow at the highest CAGR during the forecast period. High demand of waterbased coatings from the construction and automotive sector are the key growth drivers for this region. Countries such as the China, India, and Japan are witnessing high growth in the waterbased coatings market. Growing number of packaging & transportation and marine industries is likely to boost the market over the coming years.
The leading market players of the global waterbased coatings market:
AkzoNobel, Arkema SA, Asian Paints Limited, Axalta Coating Systems, BASF SE, Benjamin Moore & Co, DowDuPont, Hempel A/S, Jotun, Kansai Paint Co., Ltd., KCC Corporation, Masco Corporation, Nippon Paint Holdings Co., Ltd., PPG Industries, RPM International Inc., Shawcor, Sika, The Sherwin-Williams Company and Tikkurila. Collaborations and endorsements are the key growth strategies adopted by the major players to reinforce their positions in the international market. For instance, in June 2017, Hempel A/S opened a new research and development facility for passive fire protection (PFP) coatings near Barcelona, Spain.
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