Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Water Borne Coatings Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global water borne coatings market is poised for dynamic expansion, with significant growth expected in the coming years, as outlined in the latest comprehensive research publication added to our authoritative collection. The research showcases how market size has surged from $114.2 billion in 2023 and is projected to reach $121.47 billion in 2024, marking a robust compound annual growth rate (CAGR) of 6.4%.
Insights into the Water Borne Coatings Market Trends and Opportunities
The escalating demand for eco-friendly and sustainable products, spurred by increasing environmental concerns and health and safety regulations, has substantially influenced market growth. Applications across various sectors, especially in architectural and automotive industries, underscore the market's breadth. Innovations in smart coatings and material technology are further revolutionizing the industry, enhancing the efficiency and applicability of water borne coatings.
- Regional Market Insights: Asia-Pacific currently leads as the largest market for water borne coatings, followed by Western Europe.
- Industry Applications: Prominent use in automotive, architecture, marine, packaging, and wood industries gives the market a diverse consumer base.
- Market Growth Drivers: The transition towards bio-based waterborne coatings and integration of nanotechnology is noted as growth accelerants, in addition to the development of high-performance coatings.
Despite the robust growth, the water borne coatings market faces challenges like escalating raw material costs which could hinder the pace of market growth. However, companies remain proactive, incorporating high-performance materials and smart technologies like nanocoatings to combat these issues and improve overall efficiency.
The comprehensive research document explores these aspects in-depth, presenting a future outlook of the industry that forecasts a significant growth to $152.73 billion by 2028, with a CAGR of 5.9%. This research serves as a crucial resource for industry stakeholders by offering a granular analysis of market segments, technological advancements, and competitive dynamics.
Industry Leadership and Innovation
Leading companies in the water borne coatings market are continuously striving to innovate and deliver avant-garde coatings. Commitment to developing state-of-the-art solutions is evident through the release of products like the Wandabase WB Plus. Such innovations not only provide enhanced coverage and finish but also align with the needs for accurate color matching systems in the automotive sector and beyond.
A selection of companies mentioned in this report includes
- AkzoNobel NV
- BASF SE
- Axalta Coating Systems Ltd.
- Berger Paints Ltd.
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Company Ltd.
- PPG Industries Inc.
- RPM International Inc.
- Sherwin-Williams Company
- The Valspar Corporation
- Tikkurila Oyj
- Asian Paints Ltd.
- Benjamin Moore & Co.
- Jotun A/S
- Chenyang Waterborne Paint
- Sika AG
- Hempel A/S
- Shalimar Paints Limited
- S K Kaken Co. Ltd
- Beckers Group
- Dunn-Edwards Corporation
- Diamond Vogel Paint Company
- Kelly-Moore Paints
- Vista Paint Corporation
- Indigo Paints Pvt. Ltd.
- Arkema Group
- Carboline Company
- Chugoku Marine Paints Ltd.
- Cloverdale Paint Inc.
- Diamond Vogel Inc.
- Masco Corporation
- Rust-Oleum Corporation
- Sakata Inx Corporation
- Tnemec Company Inc.
For more information about this report visit https://www.researchandmarkets.com/r/uf2ufk
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