Global Water-based Coatings Market: Snapshot
The global water-based coatings market is displaying a steadfast growth over past several years. Powered by economic development in China and India, growth of the building & construction sector in Asia Pacific is indirectly benefitting the water-based coatings market. Water-based coatings are increasingly replacing their solvent-based counterparts due to volatile organic compound (VOC) emission norms in place in several countries.
On the contrary, sensitivity of water-based coatings for temperature and humidity fluctuations and lack of viability of water-based coatings as they are susceptible to corrosion is hampering the growth of water-based coatings market. Considering a number of favorable factors, the global water-based coatings market is poised to rise at a CAGR of 6.4% between 2017 and 2024.
Building & Construction End-use Segment to Remain at Fore through 2024
The global water-based coatings market is segmented on the basis of resin type, end-use, and geography. In terms of resin type, acrylic, epoxy, polyurethane, formaldehyde, alkyds, and others are the segments into which the water-based coatings market is segmented. Vis-à-vis revenue, acrylic segment is the most attractive segment of the water-based coatings market. As acrylic coatings are largely used in architectural coatings, construction of commercial and residential buildings will augur well for the segment. However, polyurethane is anticipated to emerge lucrative as the use of polyurethane is anticipated to be on the rise. On the other hand, formaldehyde segment displays lackluster growth as formaldehyde is associated with VOC emissions.
By end-use, the various segments into which the water-based coatings market is divided are building & construction, automotive, furniture, marine, electronics, paper & printing, and others.
Of them, building & construction segment is the highly lucrative end-use segment; the segment is anticipated to remain lucrative in the years ahead too. Growing construction activities with China and India touted as key construction hub in Asia Pacific are indirectly benefitting the water-based coatings market.
Automotive is another lucrative segment of the water-based coatings market. Water-based coatings are increasingly gaining popularity among automotive OEMs due to their negligible VOC emissions. Stringent regulations in place for VOC emissions are boosting the uptake of water-based coatings for automotive components.
Growth of Automotive Sector Stokes Demand in Asia Pacific
Region-wise, North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa are the segments into which the water-based coatings market is divided. Asia Pacific, among them, is the highly attractive market for water-based coatings. Growth of the construction sector leading to the heightened demand for paints and coatings is fuelling the water-based coatings market in this region. Moreover, growth of the automotive sector in the region is stoking demand for paints and coatings among OEMs.
Latin America and the Middle East & Africa are predicted to display substantial demand for water-based coatings in the upcoming years. Rising construction activities to serve the residential needs of growing middle-class population in emerging economies of Latin America are indirectly boosting the water-based coatings market.
On the other hand, developed regions such as North America and Europe being mature markets are likely to display moderate growth in the upcoming years.
Key companies operating in the global water-based coatings market are PPG Industries, Akzo Nobel NV, and Sherwin-Williams Company. Some other companies to name are BASF SE, Asian Paints Limited, Kansai Paint Co. Ltd., Axalta Coating Systems Ltd., Altana AG, Nerolac paints Limited, Schmid Rhymer AG, NIPSEA Group, SKK Pte. Ltd., and Hebei Chenyang Industry & Trade Group Co. Ltd.
Global Waterbased Coatings Market: Overview
Transparency Market Research’s report on the global waterbased coatings market is a veritable tool for stakeholders in the value chain of the waterbased coatings market. These include waterbased coatings manufacturers and waterbased coatings raw material manufacturers.
The report comprises a detailed analysis of the waterbased coatings market and statistically refined forecasts, by region, broken down in terms of country. These are based on availability scenario and market forecast by product, end-user, and major countries.
The research analyzes the waterbased coatings market in terms of volume (Kilo tons) and revenue (US$ Mn). The study considers 2016 as the base year while offering revenue and volume estimations for the 2017-2024 forecast period. In order to analyze market size and revenue forecasts, the waterbased coatings market has been divided based on resin and end-user. The report aims to identify key countries for waterbased coatings.
Global Waterbased Coatings Market: Report Highlights
The report presents answers for some pertinent questions with respect to the waterbased coatings market. It provides an in-depth analysis by identifying major waterbased coatings providers and offers a perspective on their winning strategies. The report highlights important qualitative and quantitative details regarding investments, regulatory scenario, and price trends that impact the waterbased coatings market. It also covers the distribution and trade scenario, Porter’s five forces analysis, value chain analysis, company market shares, and attractiveness analysis by resins and end-user for each region.
The compilation of the report are based on several underlying assumptions. Annual changes in the inflation rate have not been considered while predicting market numbers. Key indicators such as growing product awareness, substitute analysis, and environmental scenario, as well as the impact of these factors on the market on a national level have been measured to arrive at the specified numbers.
In order to calculate revenue, average prices have been obtained through primary estimates from several regional suppliers, distributor, and direct-selling regional producers based on manufactures feedback and product requirement.
Global Waterbased Coatings Market: Research Methodology
The report employs top-down and bottom-up approach to assess market numbers for each region and segment. Primary and secondary research was conducted to comprehend and arrive at trends, which were used to calculate estimates for the waterbased coatings market.
Secondary research sources reached out include company websites, financial reports, investor presentations, annual reports, broker reports, and SEC filings. Regulatory databases, statistical databases, national government documents, and market reports are some other sources tapped into in the secondary research phase. News articles, trade publications, press releases, and webcasts specific to companies were also looked into in the secondary research phase.
The report comprises a dedicated section on the competitive landscape. Leading players in the waterbased coatings market are mentioned and are profiled for product portfolio, product innovation, business outlook, and SWOTs. Insights into market positioning of top players and the changing competitive hierarchy over the 2017-2024 forecast period are provided herein.