Brooklyn, New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Water-Based Barrier Coatings Market Report Overview:
The Global Water-Based Barrier Coatings Market report by Market Data Library provides comprehensive insights into driving factors, restraints, opportunities, and trends, with the provision of in-depth supporting information, data, statistics, and actionable insights. Though covered and provided extensively across the report, the data and information format are simple, yet dynamic in order to ensure ease of reading and understanding, as well as presenting and maximizing leverage and use. According to Market Data Library analysis, the Water Based Barrier Coatings was US$ 37 Billion in 2022. Furthermore, the Water Based Barrier Coatings market registers a CAGR of 5.9 % which is expected to result in a market forecast value for 2031 of US$ 61.98 Billion.
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Water-based barrier coatings are coatings that act as a barrier between the substrate and the packaging. It helps in protecting the packaging from both external and internal impacts. Water-based coatings are extensively employed in construction activities for a wide range of purposes such as waterproofing, damp proofing, crack filling, acting as a plaster additive, screed compound, and many more. These coatings are quite attractive and can perform their functions without any deterrent. Based on the product, they can be used to provide protection against water vapor, fat, alcohol, acid or alkali attacks. It also helps in reducing the dependency on non-biodegradable and non-recyclable products.
Water-Based Barrier Coatings market share and revenues are provided in detail for previous years in order to showcase the evidence upon which our estimations and forecasts are based. Sensor market growth rates and differences, as well as comparisons and relatable data are provided to further support all findings. Data points are provided for each year – from historical to the end of the forecast period – and this format is followed for each segment region and respective countries, as well as sub-segments and others.
The Global Water-Based Barrier Coatings market report is segmented according to type, power source, industry vertical, and regions and countries. Regional segmentation includes North America (United States and Canada); Europe (Germany, United Kingdom, France, Italy, Spain, Russia, Poland, BENELUX, NORDIC, and Rest of Europe); Asia Pacific (China, India, Japan, South Korea, ASEAN, Australia & New Zealand, & Rest of Asia Pacific); Latin America (Brazil, Mexico, Argentina, & Rest of Latin America); Middle East & Africa (Saudi Arabia, South Africa, United Arab Emirates, Egypt, Israel, and Rest of MEA).
Water-Based Barrier Coatings Market Trend Analysis and Insights:
Growing Packaging Industry: Water-based barrier coatings are a major supply to the packaging industry, which consumes a substantial amount of them. Owing to their moisture resistance, grease resistance, and barrier properties, packaging materials such as paperboard, corrugated cardboard, and flexible packaging get benefit from these coatings.
Health and Safety: There is no doubt that water-based barriers are safer for workers and consumers, due to their reduced releases of volatile organic compounds (VOCs). Water-based coatings emit a pungent odor and have a lower toxicity level than solvent-based coatings.
Environmental Concerns and Regulations: As environmental sustainability becomes increasingly essential, the regulations regarding volatile organic compounds (VOCs) are tightening, and the water-based coatings market is projected to increase..
Industrial Growth and Infrastructure Development: The construction and automotive industries are also major consumers of the water-based barrier coatings market. Surface coatings can prevent the corrosion of metal surfaces and helps in enhancing the durability of materials in harsh environments.
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What Factors Are Restraining Growth of Water-Based Barrier Coatings Market?
Application Complexity: As part of the application process, water-based coatings require careful monitoring of parameters such as temperature, humidity, and drying conditions in order to ensure the best results. Equipment and processes may need to be adjusted to achieve consistent results, which can be costly and complex.
Supply Chain Complexities: Coatings made from water have different material requirements and handling considerations than those made from solvents. Manufacturing companies can have difficulty adjusting their supply chains and finding suitable raw materials.
Curing Time: Coatings based on water typically have longer curing times than some coatings based on solvent, which is a disadvantage. As a result, production cycles can be extended and throughput is limited, especially in industries with a high demand for quick production.
Transition Period: Shifting to water-based coatings from solvent-based coatings requires different procedures, machinery etc. During this transition period, production may be disrupted and additional costs could arise.
What are the Opportunities for Leading Water-Based Barrier Coatings Market Manufacturers?
Consumer Awareness and Perception: Demand for water-based barrier coatings can be driven by educating consumers about the benefits they offer, such as health, safety, and the environment. As consumers gain more information about coating options, they will seek out products that reflect their values.
Customization for Specific Requirements: There are a variety of water-based barrier coatings available that can be customized based on the application requirements. The implications of this are that coatings for niche markets and specialized applications are possible, such as coatings for medical devices, medical electronics, and automotive components.
Advancement in Technology: In-depth research and development is leading to the formulation of water-based barrier coatings with improved performance characteristics. New Procedures and Applications are making these coatings easier to use and integrate into manufacturing practices.
Mergers and Acquisitions: Partnerships among the firms can lead to more innovative products and awareness about the products. Sika AG’S European industrial coatings division have been acquired by Sherwin-Williams Company, and DalFort Capital Partners have purchased VersaFlex.
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Region-wise Analysis of Water-Based Barrier Coatings Market
What are the Factors Driving the Water-Based Barrier Coatings Demand in North American region?
This region will emerge as the prominent market for Water-Based Barrier Coatings on account of rise in sales of automobiles and new infrastructure projects, the water-based barrier coatings market demand is also projected to shoot up multiple folds in the future.
What Fuels Water-Based Barrier Coatings Demand in Europe?
Owing to their strict regulatory guidelines and the presence of key market players, the European market holds nearly three-fifths of the growth in the water-based barrier coatings industry.. Also, the Renovation of old architecture and demand for automobiles are expected to keep the momentum up.
What are the Factors Contributing to the Significant of Asia Pacific Water-Based Barrier Coatings Market?
Asia-Pacific holds the highest revenues and market shares in the water-based barrier coatings market. As a result of cheap labor costs and readily available raw materials, water-based barrier coatings have grown considerably in popularity in the Asia Pacific region.
What are the Aspects that are driving the Water-Based Barrier Coatings Market in Latin America?
The region is experiencing steady growth for this Market because of the rising construction activities and the application of these coatings in Packaging, Food and Beverage and other industries.
What is the Stance on Water-Based Barrier Coatings in Middle East and Africa?
Increasing expenditure on improving and maintaining infrastructure and commercial projects such as Hotels, Restaurants, and offices are expected to boost the market demand. Saudi Arabia is holding the top-positon to these because of surging construction activities. Also, in African region the market is witnessing a growth due to the tight guidelines posed by government on manufacturers. Investment in technologies to improve durability and versatility is also fuelling the market growth.
Leading Water-Based Barrier Coatings Manufacturers & Competitive Landscape:
The Water-Based Barrier Coatings market is highly competitive, with several key players vying for market share and actively engaging in strategic initiatives. These companies focus on product innovation, technological advancements, and expanding their product portfolios to gain a competitive edge. These companies are continuously investing in research and development activities to enhance their product offerings and cater to the evolving needs of customers in terms of efficiency, performance, and sustainability.
Company List
- Axalta Coating System
- Berger Paints India
- Nippo Paint Company
- PPG Industries Inc
- Rpm International Inc
- Asian Paints
- EVONIK Industries
- Flint Group
- The Valspar Corporation
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Research Scope
| Report Metric | Report Details |
| Market size available for the years | 2021-2031 |
| Base Year | 2022 |
| Forecast Period | 2023-2031 |
| Compound Annual Growth Rate (CAGR) | 5.9 % |
| Segment covered | Type, End-User Industries and Region. |
| Regions Covered | North America: The U.S. & Canada Latin America: Brazil, Mexico, Argentina, & Rest of Latin America Asia Pacific: China, India, Japan, Australia & New Zealand, ASEAN, & Rest of Asia Pacific Europe: Germany, The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe The Middle East & Africa: Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, and Rest of MEA |
| Fastest Growing Country in Europe | Germany |
| Largest Market | North America |
| Key Players | Axalta Coating System, Berger Paints India, Nippo Paint Company, PPG Industries Inc, Asian Paints, EVONIK Industries, Flint Group, The Valspar Corporation. |
By Type
- Acrylic
- Polyester
- Alkyd
- Epoxy
By End-User Industries
- Paper and Packaging
- Food and Beverages
- Building and Construction
- Automobiles
By Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Poland
- BENELUX
- NORDIC
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- ASEAN
- Australia & New Zealand
- Rest of Asia Pacific
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Important Questions Covered in this Report:
Q: What are some key factors driving revenue growth of the global Water-Based Barrier Coatings market?
A: Some key factors driving market revenue growth include infrastructure Development, Health and Safety, Growing packaging industries etc.
Q: What are some major challenges faced by companies in the global Water-Based Barrier Coatings market?
A: Companies face challenges such as Transition periods, Long Curing time, Application Complexities and Supply Chain management.
Q: How is the competitive landscape in the global Water-Based Barrier Coatings market?
A: The market is competitive, with key players focusing on technological advancements, product innovation, and strategic partnerships. Factors such as product quality, reliability, after-sales services, and customization capabilities play a significant role in determining competitiveness.
Q: What are the potential opportunities for companies in the Water-Based Barrier Coatings Market?
A: Companies can leverage opportunities such as New Advanced and Sustainable Products, Lack of awareness and optimization to meet specific requirement.
Q: How is the Global Water-Based Barrier Coatings Market segmented?
A: The market is segmented based on factors such as type, End-user industries and Region.
