The Waterborne Coatings Market was nearly USD 60.38 Billion in 2023, and it is anticipated to grow to over USD 103.03 Billion by 2033, at a CAGR of over 5.5% during the forecast period.
Water is used as a solvent in waterborne coatings or finishes to disperse the resin. Waterborne coatings can include up to 80% water and just a tiny quantity of additional solvents, including glycol ethers. Its composition varies. Waterborne coatings have a high water content. As a result, these coatings are simple to apply and ecologically friendly. Excellent surface qualities including anti-sealing effects, high gloss, and rub resistance are provided by waterborne coatings. Considering that they are heat and abrasion resistant, waterborne coatings make great primers. They may be applied in thick or thin coats and produce good adherence. They also make it simple to modify and combine colours. Both internal and external surfaces can be coated using waterborne materials.
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Market Drivers & Trends
During the past 10 years, the building and construction coatings sector has revolutionised. The coatings that are now on the market have varied environmental profiles and qualities as well as diverse raw material bases. Many factors, including synthesis chemists, paint formulators, end users, and environmental restrictions, have influenced these modifications. For the past ten years, the building and construction coatings sector has seen a strong era of innovation. The transition from oil-based to waterborne paints, the reduction of VOCs, the elimination of potentially hazardous chemicals, the emergence of paint-and-primer-in-one products, the desire to offer improved film properties like dirt pickup resistance and early rain resistance, and the desire to offer simple-to-apply new looks are a few of the major drivers. The need for residential, commercial, and industrial infrastructure is rising along with urbanization. The demand for aqueous coatings from end users in the building and construction industry is consequently increasing. The demand for new homes is rising due to low-interest rates on mortgages, which is fueling the building and construction coatings market, particularly in the Asia Pacific region.
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Market Segments
The waterborne coatings market has been segmented into resin type, application, and region. Based on resin type, the market is segmented into acrylic, polyester, alkyd, epoxy, polyurethane (PU), polytetrafluoroethylene (PTFE), polyvinylidene chloride (PVDC), polyvinylidene fluoride (PVDF), and others. Based on application, it is bifurcated into architectural and industrial. Region-wise, it is studied across North America, Europe, Asia Pacific, and Rest of the World.
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Key Market Players
The Waterborne Coatings Market includes players such as AkzoNobel N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems (US), BASF SE (Germany), Berger Paints India Limited (India), Jotun A/S (Norway), Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Group (Japan), PPG Industries, Inc. (US), and Sherwin-Williams Company (US).
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