Global Waterborne Coatings Market is Expected to Reach around $78.24 bn in 2021
The attendance of a huge number of major companies in the global waterborne coatings market turns the market more fragmented and competitive. Major players in the waterborne coatings market are AkzoNobel N.V., BASF SE, PPG Industries, Axalata Coating System LLC, Sherwin-Williams Company, The Valspar Corporation, and Nippon Paints Co. Ltd.
According to the analysts at Zion Market Research, global waterborne coatings market was capitalized at USD 58.39 Billion in 2015. The global waterborne coatings market is expected to cross USD 78.24 Billion in 2021 and is likely to develop at a CAGR of 5.0% from 2016 to 2021.
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Strict Regulations & Laws And Harmful Environment Effects Of Solvent-Made Coatings To Flourish The Development Of Waterborne Coatings Market
“In spite of the performance restrictions of waterborne coatings, the global waterborne coatings market is gaining traction due to harmful environment effects of solvent-made coatings and strict regulations & laws,” claims analysts at Zion Market Research. The global waterborne coatings market is experiencing new innovations and product developments such as the appearance of eco-friendly coatings. These coatings are heat and temperature resistant and appropriate for end-use sectors such as marine, architecture, automotive, and wood. Hence, the low requirement for solvent-free coatings is propelling the waterborne coatings market development via novel modernizations of coating product. On the other hand, rising acceptance of specially-developed spray guns with exclusive functionalities for applications in waterborne coating has led to low volume of coatings used, thereby hindering the growth of the waterborne coatings market.
However, various mergers and acquisitions by key market players is claimed to boost the development to the waterborne coatings market. For instance, in May 2017, Huntsman (for USD 14 Billion) amalgamated with Clariant. This merger makes a body that is 52% held controlled by Clariant. The new body intends to aim on more eco-friendly coatings, boosting the waterborne coatings market.
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Based on resins, the global waterborne coatings market is classified into polyester, acrylic, epoxy, alkyd, PTFE, polyurethane, PVDC, PVDF, and others. Acrylic resins were the most controlling resin in global waterborne coatings market in 2015 adding up for almost 80% of total market volume.
Rising Infrastructure Activities To Preserve The Dominance Of Waterborne Coatings Market In Asia Pacific
Asia Pacific was the biggest region for waterborne coatings market in 2015 chased by Western Europe and North America. In addition to this, this trend is likely to sustain in the years to come. The waterborne coatings market growth in the area is majorly credited to rising infrastructure activities in China, India, and Indonesia. Nations such as China, the U.S., and Germany are the key regions for waterborne coatings market due to increasing income levels, rising requirement on the domestic front, and easy access to resources.
This review is based on a report by Zion Market Research, titled “Waterborne Coatings Market”- Report at http://www.zionmarketresearch.com/report/waterborne-coatings-market
The global waterborne coatings market is segmented as follows:
- General Industrial