Industry Overview. Global waterborne coatings market size exceeded USD 75 billion in 2020 and is estimated to grow at a CAGR of 6% between 2021 and 2027.
Waterborne coatings are coatings that contain around 80% water and small quantities of other solvents such as glycol ethers, which are applied to a surface to disperse a resin. Due to its water content, these coatings are Waterborne coatings possess properties such as low VOC, very low odor, and non-flammability, along with high water content, making it eco-friendly and easy to apply. Waterborne coatings dry at a very fast rate and can be re-coated as well.
The research report studies the Waterborne Coatings Market using different methodologies and analyzers to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market.
Top Key Players in Waterborne Coatings market: BASF SE, AkzoNobel N.V., Axalta Coating System LLC, PPG Industries, The Valspar Corporation, Sherwin-Williams Company, Nippon Paints Co. Ltd., Kansai Paint Co. Ltd., Tikkurila OYJ, and Berger Paints India Ltd.
Regional Analysis:
The market research report on the global Waterborne Coatings market offers complete analysis across various regions around the globe. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: Geographically, the comprehensive analysis of ingestion, revenue and Market share and growth speed, historical and forecast (2021-2027) of these regions are covered.
Waterborne coatings are used in a myriad of applications, considering properties that make it a perfect primer such as high resistance to heat and abrasion, excellent adhesion, as well as low toxicity and flammability due to low VOC levels and HAP emissions. The U.S. and Europe are very stringent about regulations on coatings, accepting the widespread use of waterborne coatings as they have a VOC content of less than 3.5 pounds per gallon of water. Relatively small amounts of waterborne coatings are capable of covering large surface areas as compared to equal quantity of solvent-borne coatings.
Key Developments
- Key players in the market are involved in various growth strategies such as marketing, in order to gain competitive edge in the market. For instance, in March 2019, BASF SE, a Germany-based chemicals company, participated in European Coatings Show 2019 held in Nuremberg, Germany from March 19-21. The company presented new solutions such as waterborne coatings, light stabilizers, pigments, antioxidants, hardeners, and more.
- Major companies in the market are focused on different growth strategies such as merger and acquisition, in order to strengthen their market position. For instance, in August 2019, AkzoNobel N.V., a paints and coatings provider, acquired Mapaero, a U.S.-based paints provider. This acquisition is expected to strengthen AkzoNobel’s global aerospace coatings business.
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