Dublin, June 30, 2023 (GLOBE NEWSWIRE) -- The "Global Water Borne Coatings Market Overview, 2023-28" report has been added to ResearchAndMarkets.com's offering.
Global Waterborne Coatings Market is expected to reach USD121.62 Billion by 2028 with a significant CAGR of 5.53 % from USD 88.53 Billion in 2022.
The growth of the building and construction industry owing to the growth in urbanization and industrialization coupled with the increasing disposable income and demand for architectural projects has led to the increase in demand for the Waterborne Coatings Market.
The increase in automotive production across the globe is also supporting the market expansion for waterborne coatings. Furthermore, with a growing emphasis on health and safety in various industries, including manufacturing, construction, and automotive, there is an increasing demand for coatings that have minimal health hazards.
Waterborne coatings are extensively used in these sectors due to their aesthetic appeal, durability, and low toxicity. Additionally, rapid urbanization leads to the need for infrastructure development, creating opportunities for the waterborne coatings market. The architectural and construction sectors are significant consumers of waterborne coatings.
With the rise in construction activities and increasing awareness of environmental impact, there is a higher demand for waterborne coatings in applications such as residential and commercial buildings, infrastructure projects, and decorative purposes. Waterborne coatings offer benefits like ease of application, low odor, and reduced environmental footprint, making them an attractive choice for these sectors.
Rapid urbanization is resulting in the growing residential, commercial, and industrial complexes across the globe. This, coupled with the escalating demand for seats, tables, beds, and shelves, represents one of the key factors positively influencing the market. Moreover, rising standards of living and increasing spending on home renovation and remodelling are creating a favourable market outlook worldwide.
Asia-Pacific is the largest market for waterborne coatings market globally holding significant market share and is expected to dominate the market in future as well. The region contains multiple economies at various levels of development and in a wide range of industries. High growth rates and massive investments in the car, consumer goods, appliances, and building and construction industries are largely to blame for economic development.
The area's growth is expected to be spurred by the establishment of new sectors in the region as a result of low labour costs and government tax breaks. Economic progress is partly attributed to high growth rates and massive investments in the automotive and furniture industries.
It is one of the locations with the fastest-growing populations based on the production and demand for aqueous coatings. Waterborne coatings are extensively used in the automotive sector for both original equipment manufacturing (OEM) and refinishing applications. The robust automotive industry in Asia-Pacific has significantly driven the demand for waterborne coatings.
Company Profiles
- The Sherwin-Williams Company
- Akzo Nobel N.V
- Jotun Group
- BASF SE
- Sika AG
- Cabot Corporation
- Wacker Chemie AG
- Kansai Paint Co.,Ltd.
- Axalta Coating Systems Ltd.
- Nippon Paint Holdings Co., Ltd
Competitive Landscape
- Competitive Dashboard
- Business Strategies Adopted by Key Players
- Key Players Market Share Insights and Analysis, 2022
- Key Players Market Positioning Matrix
- Porter's Five Forces
Considered in this report
- Geography: Global
- Historic year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
Aspects covered in this report
- Global Waterborne Coatings market with its value and forecast along with its segments
- Region-wise Waterborne Coatings market analysis
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
By Resin Type
- Acrylic
- Polyester
- Alkyd
- Epoxy
- Polyurethane
- PTFE
- PVDF
- PVDC
- Others
By Application
- Architectural
- Industrial
For more information about this report visit https://www.researchandmarkets.com/r/nd6vhl
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