Global Water Borne Coatings Market Overview, 2023-28

The Global waterborne coatings market is expected to reach USD 121.62 Billion by 2028 with a significant CAGR of 5.53 % from USD 88.53 Billion in 2022.

Featured Companies

  • 1. Arkema S.A.
  • 2. Ppg Industries
  • 3. Ludy Greenhouse Manufacturing Corporation
  • 4. Akzo Nobel N.V
  • 5. The Sherwin-Williams Company
  • 6. Hempel A/S
  • 7. Kansai Paint Co.,Ltd.
  • 8. Nippon Paint Holdings Co., Ltd
  • 9. Axalta Coating Systems Ltd.
  • More...

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 offer lower toxicity, reduced fire risk, and improved air quality compared to solvent-based coatings, making them a preferred choice for industries prioritizing safety. Continuous research and development efforts in the coatings industry have led to the formulation of advanced waterborne coatings with improved performance characteristics. These advancements include enhanced durability, better adhesion, faster drying times, and increased resistance to chemicals and abrasion. Such developments have boosted the demand for waterborne coatings in different applications. The expanding middle-class population, particularly in developing countries, is driving increased demand for consumer goods, including furniture, appliances, and electronics. 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. According to the research report, "Global Waterborne Coatings Market Overview, 2023-2028", published by Bonafide Research the market is expected to reach USD more than 121.62 Billion by 2028 with a significant CAGR of 5.53 % from USD 88.53 Billion in 2022. 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. Homeowners are increasingly conscious of the environmental impact of their choices, including the materials and coatings used in home renovation projects. Waterborne coatings offer a more sustainable alternative to solvent-based coatings due to their lower volatile organic compound (VOC) content and reduced environmental footprint. As a result, there is a growing demand for waterborne coatings in home renovation to align with sustainable practices. Waterborne coatings provide an extensive range of colors, finishes, and sheens, allowing homeowners to achieve their desired aesthetic outcomes. Whether it's a matte finish for a contemporary look or a high-gloss finish for a more luxurious appearance, waterborne coatings offer a diverse range of options to meet individual preferences and design trends in home renovation. Waterborne coatings are suitable for a wide range of surfaces and substrates encountered in home renovation projects. They can be used on walls, ceilings, doors, trim, cabinets, and furniture, among other applications. The versatility of waterborne coatings makes them an attractive choice for homeowners and contractors seeking consistent and high-quality finishes across various surfaces.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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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. Based on the report, the market is segmented into resin type, Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, and PVDC. Among them the acrylic resin dominates the market in 2022. Acrylic resin-based waterborne coatings have relatively fast drying times compared to other resin types, allowing for quicker production processes and reduced downtime. Additionally, they have low odor, making them more user-friendly and suitable for indoor applications where odor can be a concern. Acrylic resin is well-suited for waterborne formulations due to its ability to disperse and stabilize in water. It can be easily emulsified, resulting in stable and homogeneous water-based coatings. This compatibility with waterborne systems contributes to its dominance in the waterborne coatings market, as water-based coatings are increasingly preferred for their lower VOC content and environmental benefits. Acrylic resin has excellent film-forming properties, allowing it to create a durable and protective coating. It forms a tough and flexible film that adheres well to a variety of substrates, including metals, plastics, concrete, and wood. The strong adhesion properties of acrylic resin enhance the overall performance and longevity of the coating. The Alkyd resin is expected to grow with highest CAGR of the market during the forecast period. Based on application type, the market include, architectural and industrial. The industrial application is positively leading the market of waterborne coatings globally. Furthermore, the industrial applications are bifurcated into different segments. Protective Coatings Automotive (OEM and After) Coatings, Wood Coatings, Marine Coatings, Coil Coatings, Packaging Coatings, Aerospace Coatings, Rail Coatings and General Industrial Coatings. The automotive industry is significant contributor to the market of waterborne coatings market globally. The automotive industry utilizes waterborne coatings for both original equipment manufacturing (OEM) and refinishing applications. In OEM processes, waterborne coatings are applied to new vehicles during manufacturing to provide a durable and attractive finish. In refinishing, waterborne coatings are used to repair and repaint vehicles, ensuring a seamless and high-quality finish that matches the original coating. The automotive industry's significant demand for both OEM and refinishing coatings drives the market for waterborne coatings. Waterborne coatings have advanced color matching capabilities, allowing automotive manufacturers and refinishing shops to achieve precise and consistent color results. Color accuracy is crucial in the automotive industry to maintain brand standards and ensure a seamless appearance across different parts and repairs. Waterborne coatings provide the necessary color control, contributing to their widespread adoption in automotive applications.

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Manmayi Raval

Manmayi Raval

Research Consultant

Companies mentioned in the report: Akzo Nobel N.V, PPG Industries, Inc., The Sherwin-Williams Company, BASF SE, Kansai Paint Co.,Ltd., Jotun Group, Axalta Coating Systems Ltd., Arkema S.A., Hempel A/S, Nippon Paint Holdings Co., Ltd 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

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Manmayi Raval

Regions & Countries covered in the report: • North America • Europe • Asia-Pacific • South America • Middle East & Africa By Resin Type • Acrylic • Polyester • Alkyd • Epoxy • Polyurethane • PTFE • PVDF • PVDC • Others By Application • Architectural • Industrial The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Waterborne Coatings industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Companies Mentioned

  • Arkema S.A.
  • Ppg Industries
  • Ludy Greenhouse Manufacturing Corporation
  • Akzo Nobel N.V
  • The Sherwin-Williams Company
  • Hempel A/S
  • Kansai Paint Co.,Ltd.
  • Nippon Paint Holdings Co., Ltd
  • Axalta Coating Systems Ltd.
  • Jotun Group

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers & Opportunities
  • 2.2. Market Restraints & Challenges
  • 2.3. Market Trends
  • 2.4. Covid-19 Effect
  • 2.5. Supply chain Analysis
  • 2.6. Policy & Regulatory Framework
  • 2.7. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Global Water Borne Coatings Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Region
  • 6.3. Market Size and Forecast, By Geography
  • 6.4. Market Size and Forecast, By Resin Type
  • 6.5. Market Size and Forecast, By Application Type
  • 7. North America Water Borne Coatings Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share By Country
  • 7.3. Market Size and Forecast, By Resin Type
  • 7.4. Market Size and Forecast, By Application Type
  • 8. Europe Water Borne Coatings Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share By Country
  • 8.3. Market Size and Forecast, By Resin Type
  • 8.4. Market Size and Forecast, By Application Type
  • 9. Asia-Pacific Water Borne Coatings Market Outlook
  • 9.1. Market Size By Value
  • 9.2. Market Share By Country
  • 9.3. Market Size and Forecast, By Resin Type
  • 9.4. Market Size and Forecast, By Application Type
  • 10. South America Water Borne Coatings Market Outlook
  • 10.1. Market Size By Value
  • 10.2. Market Share By Country
  • 10.3. Market Size and Forecast, By Resin Type
  • 10.4. Market Size and Forecast, By Application Type
  • 11. Middle East & Africa Water Borne Coatings Market Outlook
  • 11.1. Market Size By Value
  • 11.2. Market Share By Country
  • 11.3. Market Size and Forecast, By Resin Type
  • 11.4. Market Size and Forecast, By Application Type
  • 12. Competitive Landscape
  • 12.1. Competitive Dashboard
  • 12.2. Business Strategies Adopted by Key Players
  • 12.3. Key Players Market Share Insights and Analysis, 2022
  • 12.4. Key Players Market Positioning Matrix
  • 12.5. Porter's Five Forces
  • 12.6. Company Profile
  • 12.6.1. The Sherwin-Williams Company
  • 12.6.1.1. Company Snapshot
  • 12.6.1.2. Company Overview
  • 12.6.1.3. Financial Highlights
  • 12.6.1.4. Geographic Insights
  • 12.6.1.5. Business Segment & Performance
  • 12.6.1.6. Product Portfolio
  • 12.6.1.7. Key Executives
  • 12.6.1.8. Strategic Moves & Developments
  • 12.6.2. Akzo Nobel N.V
  • 12.6.3. Jotun Group
  • 12.6.4. BASF SE
  • 12.6.5. Sika AG
  • 12.6.6. Cabot Corporation
  • 12.6.7. Wacker Chemie AG
  • 12.6.8. Kansai Paint Co.,Ltd.
  • 12.6.9. Axalta Coating Systems Ltd.
  • 12.6.10. Nippon Paint Holdings Co., Ltd
  • 13. Strategic Recommendations
  • 14. Annexure
  • 14.1. FAQ`s
  • 14.2. Notes
  • 14.3. Related Reports
  • 15. Disclaimer

List of Tables

Table 1: Global Water Borne Coatings Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Influencing Factors for Global Water Borne Coatings Market, 2022
Table 3: Top 10 Counties Economic Snapshot 2020
Table 4: Economic Snapshot of Other Prominent Countries 2020
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Water Borne Coatings Market Size and Forecast, By Geography (2017 to 2028F) (In USD Billion)
Table 7: Global Water Borne Coatings Market Size and Forecast, By Resin Type (2017 to 2028F) (In USD Billion)
Table 8: Global Water Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 9: North America Water Borne Coatings Market Size and Forecast, By Resin Type (2017 to 2028F) (In USD Billion)
Table 10: North America Water Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 11: Europe Water Borne Coatings Market Size and Forecast, By Resin Type (2017 to 2028F) (In USD Billion)
Table 12: Europe Water Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 13: Asia-Pacific Water Borne Coatings Market Size and Forecast, By Resin Type (2017 to 2028F) (In USD Billion)
Table 14: Asia-Pacific Water Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 15: South America Water Borne Coatings Market Size and Forecast, By Resin Type (2017 to 2028F) (In USD Billion)
Table 16: South America Water Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 17: Middle East & Africa Water Borne Coatings Market Size and Forecast, By Resin Type (2017 to 2028F) (In USD Billion)
Table 18: Middle East & Africa Water Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)

List of Figures

Figure 1: Global Water Borne Coatings Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Global Water Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 5: Global Water Borne Coatings Market Share By Region (2022)
Figure 6: North America Water Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 7: North America Water Borne Coatings Market Share By Country (2022)
Figure 8: Europe Water Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 9: Europe Water Borne Coatings Market Share By Country (2022)
Figure 10: Asia-Pacific Water Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 11: Asia-Pacific Water Borne Coatings Market Share By Country (2022)
Figure 12: South America Water Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 13: South America Water Borne Coatings Market Share By Country (2022)
Figure 14: Middle East & Africa Water Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 15: Middle East & Africa Water Borne Coatings Market Share By Country (2022)
Figure 16: Competitive Dashboard of top 5 players, 2022
Figure 17: Market Share insights of key players, 2022
Figure 18: Porter's Five Forces of Global Water Borne Coatings Market

Feed Phosphate Market Research FAQs

Waterborne coatings are a type of paint or coating that uses water as a solvent instead of traditional organic solvents. They are eco-friendly and have low levels of volatile organic compounds (VOCs), making them a popular choice for various applications.

Several factors are contributing to the growth of the global waterborne coatings market. Increasing environmental regulations and a shift toward eco-friendly products are driving the demand for waterborne coatings. Additionally, the construction and automotive industries are adopting waterborne coatings due to their low VOC emissions and improved performance.

Waterborne coatings find applications in various industries. Some of the major end-use industries include architectural coatings (residential and commercial buildings), automotive coatings, general industrial coatings, wood coatings, packaging coatings, and marine coatings.

The global waterborne coatings market is experiencing growth across different regions. However, Asia-Pacific, particularly China and India, is witnessing significant growth due to rapid industrialization, urbanization, and infrastructure development. North America and Europe also have a substantial market share due to stringent environmental regulations and the increasing adoption of eco-friendly coatings.

Waterborne coatings offer several advantages over traditional solvent-based coatings. They have lower VOC emissions, reducing environmental impact and improving air quality. Waterborne coatings also have lower flammability and odor, making them safer to use. Moreover, they provide excellent adhesion, durability, and color retention, along with faster drying times.

Although waterborne coatings offer numerous benefits, there are some challenges associated with their adoption. One challenge is their relatively higher cost compared to solvent-based coatings. Additionally, waterborne coatings may require additional drying time and specialized application techniques. However, ongoing research and development efforts aim to address these challenges and further enhance the performance of waterborne coatings.
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Global Water Borne Coatings Market Overview, 2023-28

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