They are used in surface treatment of materials that utilize water as a solvent medium. These coatings offer excellent adhesion and good resistance to heat, fire abrasion. Moreover, these coatings are easily spreadable and take a little amount of quantity as compared to the solvent-borne coatings; hence they are cost-effective.
Some of the eminent leaders of the market include Axalta Coating Systems (U.S.), AkzoNobel N.V. (Netherlands), BASF SE (Germany), Kansai Paint Co., Ltd. (Japan), Berger Paints India Limited (India), Nippon Paint Company Limited (Japan), Rpm International Inc. (U.S.), PPG Industries Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Asian Paints (India), Tikkurila Oyj (Finland), Jotun (Norway), Sika AG (Switzerland), and Chenyang Waterborne Paint (China).
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These unique properties make Water-based Coatings the perfect choice for various applications within the furniture, building construction industry. Consequently, these coatings perceive huge demand from the sectors such packaging, and most importantly from automotive OEM aftermarket sector. Growing population coupled with the increasing urbanization worldwide is presaging the growing demand for construction and infrastructure development.
The improving economy is increasing consumer’s purchasing power, fosters the sale of automobiles and luxury furnishing across the globe. Automotive industry accounts for the largest consumer of these coatings, witnessing the increasing demand and production of automobiles worldwide. These factors presage the surging demand these coatings witness in the market, defining its market landscape on the global platform in the years to come.
Acknowledging the spurting growth, the market is perceiving currently the potential the market holds to grow globally, the leading research firm ‘Market Research Future’ (MRFR) has recently published a study report mapping companies active in the industry. In its market analysis, MRFR asserts that the global Water-based Coatings Market will garner USD 61.3 Million by 2023 at 5.77% CAGR during 2017 to 2023.
Additional factors such as growing investments to develop advanced and bio-based coatings are fostering the market growth. Seminal efforts investments, made by the market players, are paying off well, driving the market growth. Conversely, stringent regulations imposed by the governments on the restricted use of materials emitting VOC coupled with the price volatility of the raw materials, are inhibiting the market growth.
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Water-based Coatings Market – Segmentation
MRFR has segmented its analysis into four key dynamics for the convenience of understanding.
By Product Types : Water-Soluble Paints, Emulsions Paints, and Water-Based Alkyds among others.
By Resin Types : Acrylic, Alkyds, Formaldehyde, Epoxy, and Polyurethane among others.
By End-Use Industries : Building Construction, Automotive, Marine, Electronics, Paper Packaging among others.
By Regions : Europe, North America, APAC and Rest-of-the-World.
Water-based Coatings Market – Regional Analysis
Globally, Asia Pacific accounts for the largest market for Water-based Coatings due to the augmented demand from the growing end-user industries such as construction, automotive, and metal packaging, in India, China, Indonesia Japan. Growing infrastructure development projects coupled with the ever-increasing population drive the regional market growth.
China, backed by the burgeoning building construction sectors is the largest consumer of the product followed by India, Thailand, Japan, and Vietnam, among others. Also, growing the considerable product demand in different industrial sectors, foster the growth of the APAC market. The market trends substantiating the growth of Water-based Coatings in the region include rapid urbanization and the increasing consumption of the product in the automotive OEM and Aftermarket sector.
North America region stands the second largest market for Water-based Coatings owing to the enormous contribution from the US market, fuelled by the broad application areas of the product in the automotive industries.
In Latin America, the market is estimated to witness a remarkable growth owing to the increasing industrial activities primarily in the automotive space. Presence of a large number of automotive OEM aftermarkets in Brazil and Venezuela positively impact the regional market growth.
The Europe Water-based coatings Market accounts for the third largest market globally. The resurging economy is fuelling the construction and automotive sectors in the region. Moreover, declining crude oil prices are providing impetus to the automotive industry, increasing the production rate, which in turn, drives the growth of the market in this region. Conversely, the stringent environmental regulations imposed on the uses of products emitting VOC (volatile organic compounds) are hampering the market growth on a large scale. Nevertheless, augmenting demand for the product in the industrial, decorative, and others applications is expected to drive the regional market growth up to some extent.
The MEA (the Middle East Africa) market is anticipated to perceive a considerable market growth during the assessment period, owing to the infrastructure development projects in the region.
Water-based Coatings Market – Competitive Analysis
With the numerous matured small key players along with the new entrants forming a competitive landscape, the market appears to be fragmented fiercely competitive. The market players try to gain competitive advantage through strategic partnership, acquisition, expansion, collaboration, product technology launch.
Development of customized coating solution is lately, trending in the market, resultantly driving the market competition intensely. Manufacturers having the ability to manufacture tailor-made coatings are expected to gain a competitive edge over their rivals.
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September 24, 2018 – Wikoff Color Corporation (US), leading global producer of high quality, tailor-made inks and coatings including range of Aquakotes – water-based coatings and Etirama Machinery LTD (Brazil), a leading manufacturer of flexographic printing machines for tags and labels announced their partnership at Labelexpo Americas 2018.
The alliance between these companies supports both the companies as Etirama machineries demonstrate excellent performance with Wikoff PhotoflexLED inks coatings.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions Limitations
2.3 Markets Structure
3 Market Research Printing Methodology
3.1 Research Resin Type
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Water Based Coatings Market
5 Industry Overview Of Global Water Based Coatings Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.2 Growth Trends
6.3 Impact Analysis
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