August 04, 2022 14:31 ET | Source: Facts & Factors Facts & Factors
LONDON, United Kingdom, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Waterborne Coatings Market Size, Share, Growth Analysis Report By Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, Polytetrafluoroethylene, Polyvinylidene Fluoride, Polyvinylidene Chloride, Others), By Application (Architectural, Industrial), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Waterborne Coatings Market size & share was approximately USD 78.3 Billion in 2021. The market is expected to grow above a CAGR of 3.2% and is anticipated to reach over USD 94.5 Billion by 2028.”
The report analyses the Waterborne Coatings market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Waterborne Coatings market.
What is Waterborne Coating? How big is the Waterborne Coatings Industry?
Waterborne coatings are a coating solution that is better for the environment than other coating solutions, and they are used often on surfaces for a wide variety of purposes. It is possible to utilize it as a solvent for paints or coatings, in addition to its usage in the process of dispersing resin. The potential of the market for waterborne coatings is expected to increase over the forecast period as a result of the growing demand for environmentally friendly goods.
Through 2028, the expanding scope of application in construction and building applications will additionally boost the market potential for waterborne coatings. In the future years, there will be a significant increase in the market for waterborne coatings, particularly in developed economies.
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Rising infrastructural activity across the world is anticipated to boost the demand for multiple coatings and paints. High demand for sustainable alternatives and government subsidies for utilization of the same is projected to boost the use of waterborne coatings over the forecast period. Waterborne coatings are eco-friendly coatings that protect the structure from multiple aspects like heat, corrosion, high temperature, chemicals, etc., and are expected to find a good scope of application in multiple end-use industries as their popularity increases.
Increasing demand for sustainable construction alternatives and stringent regulations against the use of toxic chemicals are other factors that will boost the demand for waterborne coatings over the years to come. However, a longer time for drying taken by these waterborne coatings is expected to have a hindering effect on the global waterborne coatings market growth over the forecast period.
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Waterborne Coatings Market: COVID-19 Impact Analysis
The COVID-19 pandemic was a contributing factor in the decline of the market for waterborne coatings. Lockdowns occurred in a number of different countries around the world, which brought about a significant shift in the level of industrial activity on a global scale. In the year 2020, there was a significant decrease in the demand for waterborne coatings due to the shutdown of a number of production facilities as well as a slowdown in the building industry. During the pandemic, there was a lack of raw materials, and there were stringent regulations that prohibited any work that took place outside. These are just some of the issues that made it even more challenging for waterborne coatings companies to run their businesses effectively. The waterborne coatings market is expected to make a good recovery in the post-pandemic era as the world returns to normal and construction activity resumes driving the waterborne coatings market potential over the forecast period. This is due to the fact that the world is returning to normal and construction activity has resumed.
Waterborne Coatings Market: Segmentation Analysis
The market is segmented into resin type and application of which the alkyl resin type segment is expected to emerge as a lucrative one over the forecast period. Increasing the use of alkyl resins owing to their characteristic green chemistry and enhanced properties will drive waterborne coatings market growth over the forecast period. Innovation of novel alkyl technologies is also expected to boost the market potential via this segment in the coming years. The architectural segment holds a lucrative outlook but the industrial segment is expected to rise at a faster growth rate in the coming years. This can be attributed to the increasing use of waterborne coatings in multiple industrial applications to save the components from rust, high temperature, and chemical exposure in order to reduce maintenance and operational costs.
Browse the full “Waterborne Coatings Market Size, Share, Growth Analysis Report By Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, Polytetrafluoroethylene, Polyvinylidene Fluoride, Polyvinylidene Chloride, Others), By Application (Architectural, Industrial), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/waterborne-coatings-market
Asia Pacific region is expected to lead the global waterborne coatings market in terms of demand and will also hold a dominant market share through the forecast period. The rising number of construction projects and rising industrialization are expected to be the most prominent drivers of the waterborne coatings market through 2028. India and China are expected to be the most notable markets for waterborne coatings in this region through 2028. Supportive government initiatives to boost the adoption of sustainable construction products will also boost the waterborne coatings market potential in this region over the forecast period.
The market for waterborne coatings in Europe will also exhibit a lucrative outlook owing to rising sustainability trends and incentivization of the use of sustainable products. In June 2021, PPG a leading name in industrial products announced the expansion of its coating manufacturing facilities in Europe in order to meet rising demand in the region.
The report contains qualitative and quantitative research on the global Waterborne Coatings Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main players in the global Waterborne Coatings market include
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The global Waterborne Coatings market is segmented as follows:
Key Insights from Primary Research
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