August 01, 2022 17:00 ET | Source: Precedence Research Precedence Research
Tokyo, Aug. 01, 2022 (GLOBE NEWSWIRE) -- The global waterborne coatings market size was valued at USD 83.32 billion in 2022. A waterborne coating is an environmentally acceptable surface treatment that disperses the resin used to create the coating or paint using water as a solvent: 80 percent of the solvent is dissolved in water. The coating or paint should be simple to apply and environmentally friendly. The premise that waterborne coatings contain few volatile organic components makes them very popular. It can be used on substrates made of wood and plastic. There are several applications for waterborne coatings.
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The most common applications of waterborne coatings: to use as a rapid release coating for the inside of trucks, garbage cans, fly ash hoppers, plastic pellet hoppers, and coal cars that are filled with teflon extenders or PE to cover permeable objects like leather or paper.
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Asia-Pacific held dominant position and has largest share of waterborne coating market. The Asia Pacific region includes numerous economies at different phases of development and across a wide range of industries. High growth rates and huge investments across the automotive, consumer goods & appliances, building & construction, and furniture industries are largely responsible for economic development.
Based on the production and demand for waterborne coatings, it is one of the locations with the fastest rising populations. The Asia Pacific market is anticipated to expand rapidly over the next five years and present considerable business prospects for global participants in waterborne coatings.
The increase in demand for ecologically friendly qualities has been one of the most important trends in the coatings industry. The stringent European Union regulations limiting the decrease of volatile organic compound emissions from coatings have had a significant impact on this trend. New laws and rules, such as the Eco-product Certification Scheme, are being implemented by the European Commission and other federal government entities. With low to no hazardous VOC emissions, these requirements guarantee a green and sustainable environment. Additionally, it is projected that Western European and American government regulations, especially those that deal with air pollution, will continue to support the use of innovative, low-pollution coating technologies.
The popularity of waterborne coatings, which contain fewer solvents that evaporate during the curing process than solvent-borne coatings, has gradually increased as a result of growing awareness of the negative impacts of VOC emissions. According to projections, the Asia Pacific region will have the largest and fastest-growing market for waterborne coatings. This can be attributable to the region's fast expanding construction and automobile industry.
Waterborne coatings require more drying and curing time than solvent-borne coatings do. Excellent flow characteristics of waterborne coatings fluctuate with humidity and have an impact on how the coating is applied. Water does not readily evaporate in high humidity environments, which leads to poor cure and decreased effectiveness. Additionally susceptible to cold conditions, waterborne coatings frequently become unusable after freezing.
Emerging economies are making large investments in long-term initiatives and infrastructure development. As a result of major investments made by top corporations to take advantage of the prospects in these economies, markets in these nations are growing faster than those in North America and Western Europe. Manufacturers of resin and waterborne coatings have a lot of prospects in the Asia Pacific region, particularly in China and India.
Investments in the building, automotive, electrical & electronics, consumer goods, and appliances industries are rising as a result of rising income and purchasing power of the people in the Asia Pacific and other emerging regions. The construction, automotive, electrical, and other industrial sectors are seeing increasing spending in growing economies like China, India, Russia, and Brazil, providing prospects for manufacturers of waterborne coating resin.
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