Global Waterborne Coatings Market Projected to Grow at a CAGR of 5.5% over the forecast period from 2019-2029
The Waterborne Coatings Market is projected to grow at a CAGR of 5.5% over the forecast period from 2019-2029. With increase in the consumption of waterborne coatings in various applications including architectural, packaging, transportation and consumer electronics is the major factor driving the market. Growing public and private investment in construction sector especially in developing nations of APAC region including China and India is further fueling the demand of waterborne coatings.
Growing stringent government regulations regarding the use of environmental friendly coatings in various applications to reduce the health and environment impact will further enhance the overall market growth. Waterborne coatings have less or no VOC content which makes it most favorable coatings over others. Waterborne coatings provide outstanding surface characteristics such as resistance to sealing, elevated gloss and rubbing. Because of their heat and abrasion resistance, waterborne coatings are great primers. They generate powerful adherence and can be used in dense or thin coats.
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APAC region is expected to register highest growth rate in the recent years and will maintain its pace in coming years also. It is also anticipated that the shift of significant car manufacturers in Asia Pacific nations such as China, India and Indonesia will boost demand. Further, growing construction sector with exponential growth rate will also offer good potential for waterborne coatings in coming years. Increased demand for decorative paints and coatings in India and China is driving the market in the region, combined with increased awareness of waterborne coatings. Growth in population, increasing industrialization and urbanization are some of the factors which have significant impact on overall market.
Leading companies featured in the Waterborne Coatings Market Report 2019-2029 report include AKZONOBEL NV, Axalta Coating Systems LLC, BASF SE, Berger Paints India Ltd., Kansai Paint Co., Ltd., Nippon Paint Holdings Company Ltd., PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company, The Valspar Corporation among others. Mergers, acquisitions, and joint ventures constitute some of the industry players’ common strategies for reducing product price overall and maintaining extremely competitive conditions. In order to guarantee continued raw material supplies and ease of installation services, many actors in the sector create alliances with raw material providers and third-party installers.
The comprehensive report provides market estimates and forecasts for leading domestic markets across the world for the period from 2019 to 2029. In addition, the report includes dedicated leading companies covering 10 leading waterborne coatings producers.
The report on the Waterborne Coatings Market Report 2019-2029 will appreciate anyone who wants to better understand the market in various end use industries. It will be useful for companies that want to better understand the part of the market in which they are already involved or those that want to enter or expand into another regional or technical part of the waterborne coatings industry.
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