Water-Borne Coatings Market Size is projected to reach USD

2022-08-20 06:24:59 By : Ms. KAREN Chen

August 18, 2022 10:25 ET | Source: Straits Research Straits Research

New York, United States, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Water-borne coatings are surface coatings that employ water as a solvent, which is dispersed with resin to generate a coating. This coating is an environment-friendly coating option. The resins are dissolved in water, which makes them eco-friendly and easy to apply. Water-borne coatings contain up to 80% water as a solvent combined with some proportion of glycol ethers. They have extremely low VOCs, which is why they are widely employed in numerous architectural, automotive, industrial, wood, and other industries.

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Impact of Environmental Regulations Boosting the Demand for VOC-Free Coatings to Drive the Global Water-Borne Coatings Market

Growing customer awareness and stringent government requirements in many locations compelled paint and coating firms to offer superior goods. The manufacturers' previous business practices relied on harmful chemicals to persons and the environment. Protests advocating anti-pollution techniques and strict government rules promoting eco-friendly, clean, and ethically manufactured products have contributed significantly to developing environmentally sensitive paints. Consumers seek as natural and breathable items as possible to return to basics. The anti-ammonia, formaldehyde, and heavy metals such as arsenic and lead movement are widespread and expanding.

To produce paints and coatings, manufacturers are creating cutting-edge new technology. Water-borne paints and varnishes employ water as a solvent to dissolve resins, making them environmentally benign and straightforward to apply. Water-borne coatings typically comprise 80 percent water and tiny amounts of additional solvents, such as glycol ethers. The US and European governments require water-borne coatings to contain fewer than 3.50 pounds of volatile organic compounds per gallon of water. Today, companies are producing eco-conscious paints. They are also enhancing the quality of their paints so that they are comparable to conventional, more harmful paints. Zero-VOC to low-VOC and natural paints comprised of natural elements such as water, tree resins, essential oil, plant oil, chalk, clay, milk casein, beeswax, and natural colors are the latest craze. Thus, the factors mentioned above contribute to the expansion of the segment.

Rising Home Improvement Activities to Provide Opportunities for the Global Water-Borne Coatings Market

Modern trends have the millennial generation purchasing new homes and engaged in home remodeling projects. Building a deck, remodeling a basement, constructing an addition, remodeling a bathroom, installing drywall, and renovating the garage are Millennials' improvements to their freshly built homes. On the enhanced surface, coatings are necessary after renovation, and consumers choose eco-friendly coatings. Due to their low VOC content, there is a growing need for water-based coatings.

The elderly population is also a market driver for water-based coatings. Older individuals prefer to remain in their current residence rather than move to a new one. Consequently, restoration and remodeling projects are frequent, increasing the market for paints and coatings. Before buying their first house, younger millennials prefer to live at home or rent. Low inventory of entry-level homes has delayed homeownership among younger generations but increased maintenance volume. In the following years, however, millennials will be the largest group entering the housing market, influencing the home improvement and paint industries. Consequently, home repair is seen as a significant expenditure segment among millennials, presenting the attractive market potential for water-borne coatings. 

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By region, the global water-borne coatings market is segmented into North America, Europe, Asia Pacific, and LAMEA.

Asia pacific acrylic accounted for the largest market share and is estimated to grow at a CAGR of 5.6% during the forecast period. Foreign investments and a thriving manufacturing sector due to low labor costs and easy availability of raw materials fuel the expansion of the water-borne coatings market in the Asia-Pacific area. In addition, the region's growing middle-class population and rising standard of living will raise demand for architectural coatings, pushing the market for water-based coatings. In addition, environmental and health, and safety concerns are propelling the market for water-borne coatings. Government investments in India and China's infrastructure and industrial sectors would stimulate the architectural coatings industry in the area, pushing the demand for water-borne coatings.

Europe is the second largest region. It is estimated to reach an expected value of USD 35 million by 2030 at a CAGR of 5.2%. The major European economies, including Germany, Italy, France, and the United Kingdom, are: As construction operations restart following the effects of COVID-19, the market for water-borne coatings in the region is anticipated to develop rapidly after 2021. Due to strict government rules, the need for water-borne coatings will increase in the region. Due to the use of organic solvents in architectural coatings and automobile refinishing products, the European government has placed restrictions on VOC emissions. Since water-borne coatings contain zero to low VOCs, the region's demand for water-borne coatings is increasing.

North America is the third largest region. The water-borne coatings market in the region is driven by the architectural, automotive, wood, packaging, and oil & gas & marine industries. North America's vehicle sector is essential and undergoing significant transformations. The development of electric car infrastructure is one of the major highlights of the North American automobile industry. In recent years, reforms to the North American Free Trade Agreement (NAFTA) have compelled US automakers to employ North American techniques to improve their supply chain. Under the new agreement, automakers must produce at least 75% of their auto parts in Canada, Mexico, or the United States. These advances in the vehicle manufacturing industry are boosting the regional need for water-borne coatings.

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The key players in the global water-borne coatings market are

Global Water-Borne Coatings Market: Segmentation

Table of Content and Figure @ https://straitsresearch.com/report/water-borne-coatings-market/toc

The Wide Use of Bio-Emulsion Polymer in Paints & Coatings and Adhesives is Likely to Drive the Market Growth During the Forecast Period

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