Water-Based Coatings Market size worth $ 103.23 Billion,

2021-12-29 14:42:09 By : Ms. Joy Cao

November 23, 2021 11:15 ET | Source: Verified Market Research Verified Market Research

Boonton, New Jersey, UNITED STATES

Jersey City, New Jersey, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Water-Based Coatings Market” By Type (Acrylic, Epoxy, Alkyd, Polyester), By Application (Architectural and Industrial), and By Geography. According to Verified Market Research, the Global Water-Based Coatings Market size was valued at USD 63.51 Billion in 2020 and is projected to reach USD 103.23 Billion by 2028, growing at a CAGR of 5.88% from 2021 to 2028.

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Global Water-Based Coatings Market Overview

The water-based coatings are used primarily in construction activities for waterproofing, damp proofing, crack filling, plaster additive, screed compound, and others. The rising demand for better physical infrastructures and increasing need for housing along with the higher rate of population growth is likely to drive the growth of the market. The booming construction industry and high adoption of water-based coating in commercial, as well as industrial infrastructure, are the leading reasons that have boosted the growth of the global water-based coating market. The global construction sector is expected to have significant growth in the coming years. In the automotive industry, water-based coatings provide high-quality finishing and durability. Waterborne coatings for vehicle coatings have been suggested by the California Air Resources Board (ARB) as a way to reduce VOC emissions. Along with its non-toxic nature, government rules favoring eco-friendly items should improve product demand. Increased automobile manufacturing in the North American market also provides plenty of room for expansion.

An inconsistent VOC regulation regarding water-based coatings might further hinder the growth of the market. The majority of laws aim to reduce VOC emissions from coatings. REACH and LEED GreenSeal GC-03 2nd Ed. regulations specify the VOC concentration of coatings in grams per liter (g/L). As a result of these requirements, marine coatings manufacturers are under pressure to reduce the VOC levels while still seeking to improve or maintain coating quality and performance. Water-based coatings market growth in the Asia Pacific region is driven by foreign investments and a booming manufacturing sector due to low labor costs and easily accessible raw materials. Architectural coatings demand is expected to rise as the region’s middle-class population grows and living conditions improve. The rise in environmental friendliness, as well as government investment initiatives in infrastructure and industrial sectors in India and China, is expected to be the primary driver of the water-based coatings market.

The major players in the market are The Sherwin-Williams Company, BASF SE, AkzoNobel N.V., PPG Industries Inc., RPM International Inc., Asian Paints Limited, Axalta Coating Systems LLC, Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd., and Tikkurila OYJ.

Verified Market Research has segmented the Global Water-Based Coatings Market On the basis of Type, Application, and Geography.

Adhesive Coating Market By Technology (Water-based, Solvent-based, Hot melt, and Reactive and Others), By Product (Acrylic, PVA, Polyurethanes, Styrenic block, Epoxy, EVA, and Other), By Application (Packaging, Construction, Furniture, Automotive, and Other), By Geography, Forecast, 2021-2028

Intumescent Coatings Market By Type (Thin-Film Intumescent Coatings and Thick-Film Intumescent Coatings), By Substrate (Structural Steel & Cast Iron, Wood, and Others), By Application Technique (Spray and Brush & Roller), By End-Use Industry (Building & Construction, Industrial, Aerospace, and Others.), By Geography, Forecast, 2021-2028

Dimethyl Carbonate Market By Grade (Industry Grade, Pharmaceutical Grade, Battery Grade), By Application (Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents), By End-User (Plastics, Paints And Coating, Pharmaceutical, Battery), By Geography, Forecast, 2021-2028

Floor Coatings Market By Binder Type, By Coating Type, By End-User, By Geography, Forecast, 2021-2028

Top 8 Paints And Coatings Companies painting the global market with a professional touch

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