The global water-based paint market is expected to reach 106.34 billion USD by 2027

Analysis of market size, market share, growth, trends and forecasts 2020 – 2027 of the global water-based paint market by application (industrial and architectural), resin type (Polyester, acrylic, Alkyd , polyurethane, Epoxy, PTFE, PVDC, PVDF).

NEWARK, NJ, June 23, 2020 (GLOBE NEWSWIRE) – According to a new report released by Fior Markets., the global water-based paint market is predicted to grow from 74.21 billion USD in 2019 to 106,000 USD in 2019. USD 34 billion by 2027 at a CAGR of 4.6% over the forecast period 2020-2027.

The key drivers for market growth are the growing end-user demand for green, eco-friendly coatings and increasingly stringent environmental regulations. The increase in people’s income and high economic growth contribute to the growth of the automobile and construction industries. Factors such as non-flammable, odorless, long shelf life, non-toxic, are anticipated to drive the market growth. The market is expected to be driven by growing spending on construction and recovery activities in the emerging economies of Asia Pacific and Latin America.

Aqueous coating is a term used to describe any surface coating or finish that uses water as a solvent to disperse the resin to form the coating. The composition varies with small amounts of other solvents such as glycol ether and can include up to 80% water. High water content makes water coatings both environmentally friendly and easy to apply. Aqueous coatings use water, instead of other solvents, to dissolve the resin. It has low levels of volatile organic compounds (VOCs), making it environmentally friendly and useful in reducing emissions. Various solvents used as adhesives in aqueous coatings include polyvinyl ether, glycol ether, polyacrylate or polyurethane. The coatings exhibit outstanding heat and abrasion resistance.

Over the past decade, the construction coatings industry has experienced a healthy period of innovation. Some of the key drivers are the shift from oil-based to water-based paints, VOC reduction, emergence of 2-in-1 paint and primer products, elimination of chemicals of concern, desire to provide improved membrane properties such as dirt resistance and early waterproofing, and is expected to provide a new look that is easy to apply. As urbanization grows, the need for residential, commercial and industrial infrastructure is increasing. This drives user demand for water coatings. Furthermore, the growth of the global water-based paint market is driven by various factors such as growth prospects in highly regulated regions, as well as government support. However, factors such as uneven enforcement could restrain the market growth.

Key companies operating in the global coatings market include Akzo Nobel N.V., Axalta Coating Systems, BASF SE, PPG Industries, Berger Paints, Sherwin Williams and The Valspar Corporation. Large companies are currently focusing on introducing strategies such as embracing advanced technologies, product development, mergers and acquisitions, joint ventures, partnerships and collaborations to enhance their market position. of them in the global water-based paint industry. Such as:

In December 2018, Tikkurila launched a new fire-resistant water-based lacquer for wood surfaces, Fontefire WF Clear. The product improves the beauty of treated surfaces and allows the use of coated wood in places such as hospitals and schools where fire safety standards are the strictest.
In June 2019, Jotun signed a Memorandum of Understanding with Korea Heavy Industries (HHI) for Jotun’s new marine paint to be used to reduce solvent emissions by 90%. The partnership will better equip HHI and help comply with environmental regulations aimed at reducing solvent emissions.

The architecture segment is expected to account for the highest growth rate during the forecast period.

Based on application, the market can be divided into industrial coatings and architectural coatings. The industrial segment is divided into automotive, packaging, general, protective, marine, wood coating, roll coating, and others. The architecture segment is divided into residential and non-residential. Water-based architectural coatings are used for both decorative and protective purposes. For decorative purposes, the coatings are used in houses, window frames, wooden floors, sculptures… For protective purposes, it is used for exterior painting. Therefore, the architecture segment is expected to account for the highest growth rate during the forecast period.

The acrylic segment is expected to dominate the market share during the forecast period.

Based on resin type, the market can be divided into polyester, acrylic, alkyd, polyurethane, epoxy, Polytetrafluoroethylene (PTFE), Polyvinylidene Chloride (PVDC) and Polyvinylidene Fluoride (PVDF). The exceptional chemical and aesthetic properties have led to widespread adoption of acrylic coatings driving market growth. Therefore, the acrylic segment is expected to dominate the market share during the forecast period. The features of durability, flexibility, UV resistance and color retention have led to high demand for coatings in the recycling, medical, automotive and metal industries.

Europe (Germany, United States, France, Spain, Italy, Rest of Europe)
North America (United States, Mexico, Canada)
Middle East and Africa (UAE, South Africa, Rest of MEA)
South America (Brazil and the rest of South America)
Asia-Pacific (China, Japan India, Rest of Asia-Pacific)

Owing to the stringent requirements of environmental agencies and stringent safety and protection laws for employees prevalent in the European region, Europe is expected to dominate the market share during the forecast period. The growth of the automotive industry in the region and the use of green coatings in car repainting are also expected to contribute to the market growth. Furthermore, due to increased industrialization in the developing economies of China, India, Indonesia and other countries, the Asia-Pacific region is expected to experience rapid growth. highest during the forecast period.