The Water Based Enamel Market size is forecast to reach $70.12 billion by 2027, after growing at a CAGR of 4.5% during 2022-2027. Water based enamels utilize water as the solvent medium. Enamel systems are typically used as a coating for external environments due to their enhanced wear resistance, glazing, corrosion protection and thermal protection with little change in dimensions.
The report: “Water Based Enamel Market- Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Water Based Enamel industry.
APAC dominated the Water Based Enamel market with a share of more than 42%, followed by North America and Europe. The growth is anticipated due to the presence of several original equipment manufacturers which are shifting their manufacturing facilities to APAC countries due to factors such as the presence of land, low transportation and high investments across the automotive and building and construction industry. These growing industries are anticipated to fuel the demand for Water Based Enamel during the forecast period. In addition, the booming construction industry in countries like India, China is contributing to the demand for Water Based Enamel sector, which in turn propels the growth of the market. Furthermore, due to its widespread use of water based enamel as it consist low VOC content, is also fueling the market for Water Based Enamel.
According to a World Health Organization report, by 2050, the global population aged 60 and over is projected to hit a total of 2 billion, up from 900 million in 2015. By 2050, nearly as many (120 million) people will live in China alone, and 434 million in this age group worldwide.
Hence, there is an upsurge in the construction of a new residential building that can provide space for accommodating the increasing population. Therefore, water based enamel are demanded in the residential building to provide better and long-lasting products utilized widely into interior applications. Construction activity remains a large percentage of China’s GDP as the country is one of the swiftly evolving provinces in the APAC region.
China’s construction market is tremendous and hence has become a cornerstone for the revenue generation of the economy. Residential construction is an important source of Chinese growth. Further, increased focus on affordable housing by both public and private sector will drive growth in the residential building construction sector. This in turn has increased the demand for water based enamel.
Some of the factors that are challenging the growth of the water-based enamel industry include difficulties in obtaining good quality water-based enamel coating in dry and highly humid conditions and an increase in the number of coats needed compared to solvent-based enamel. Water-based enamels do not have the same clarity and hardness as oil-based enamels, and this will also impede the growth of the market in the coming years.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Water Based Enamel market. In 2019 the Water Based Enamel market has been consolidated by the top five players accounting for xx% of the share. Major players in the Water Based Enamel market rare Asian Paints, Nippon Paint, AkzoNobel, BASF, PPG Industries Inc., the Dow Chemical Company, and Others.
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Report Coverage
The report: “Water Based Enamel Market- Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Water Based Enamel industry.
- By Raw Material: Acrylic Polymer Latex, Titanium Dioxide, Butyl Carbitol, Propylene Glycol, Others.
- By Type: Polyurethane, Styrene Butadiene, Acrylic, and Others.
- By End Use: Automotive, Building and Construction, Furniture and Ancillary, Pharmaceuticals, Food Industry and Others.
- By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
- Asia-Pacific dominates the Water Based Enamel market owing to the strong consumption of Water Based Enamel across construction and furniture in the region.
- The product provides many advantages over oil or solvent-based enamel, including faster low-volatile organic compound (VOC) emissions, faster drying time and ease of use in its application.
- Moreover, the ongoing M&A activities among suppliers would further cater to the growth in Global Water Based Enamel Market.
- Surging R&D activities are some of the opportunities which are expected to fuel the market.
- By Raw Material - Segment Analysis
- By Type- Segment Analysis
- By Application- Segment Analysis
- By End Use - Segment Analysis
Geography - Segment Analysis
APAC dominated the Water Based Enamel market with a share of more than 42%, followed by North America and Europe. The growth is anticipated due to the presence of several original equipment manufacturers which are shifting their manufacturing facilities to APAC countries due to factors such as the presence of land, low transportation and high investments across the automotive and building and construction industry. These growing industries are anticipated to fuel the demand for Water Based Enamel during the forecast period. In addition, the booming construction industry in countries like India, China is contributing to the demand for Water Based Enamel sector, which in turn propels the growth of the market. Furthermore, due to its widespread use of water based enamel as it consist low VOC content, is also fueling the market for Water Based Enamel.
Drivers - Water Based Enamel Market
Rising growth in urban housing, especially in China and India owing to the exponentially growing population
According to a World Health Organization report, by 2050, the global population aged 60 and over is projected to hit a total of 2 billion, up from 900 million in 2015. By 2050, nearly as many (120 million) people will live in China alone, and 434 million in this age group worldwide.
Hence, there is an upsurge in the construction of a new residential building that can provide space for accommodating the increasing population. Therefore, water based enamel are demanded in the residential building to provide better and long-lasting products utilized widely into interior applications. Construction activity remains a large percentage of China’s GDP as the country is one of the swiftly evolving provinces in the APAC region.
China’s construction market is tremendous and hence has become a cornerstone for the revenue generation of the economy. Residential construction is an important source of Chinese growth. Further, increased focus on affordable housing by both public and private sector will drive growth in the residential building construction sector. This in turn has increased the demand for water based enamel.
Challenges - Water Based Enamel Market
Unfinished and low quality properties can restrict the market growth
Some of the factors that are challenging the growth of the water-based enamel industry include difficulties in obtaining good quality water-based enamel coating in dry and highly humid conditions and an increase in the number of coats needed compared to solvent-based enamel. Water-based enamels do not have the same clarity and hardness as oil-based enamels, and this will also impede the growth of the market in the coming years.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Water Based Enamel market. In 2019 the Water Based Enamel market has been consolidated by the top five players accounting for xx% of the share. Major players in the Water Based Enamel market rare Asian Paints, Nippon Paint, AkzoNobel, BASF, PPG Industries Inc., the Dow Chemical Company, and Others.
Acquisitions/Technology Launches/ Product Launches
- In January 2020, Sherwin Williams launched ProClassic Interior Water-Based, Acrylic-Alkyd Enamel, in satin and semi-gloss sheen editions. The product offers alkyd performance with acrylic properties, but includes non-yellowing characteristics and cleans up with water.
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Table of Contents
1. Water Based Enamel Market - Market Overview
2. Water Based Enamel Market - Executive Summary
3. Water Based Enamel Market - Landscape
4. Water Based Enamel Market - Market Forces
5. Water Based Enamel Market - Strategic Analysis
6. Water Based Enamel Market - By Raw Material (Market Size -$Million)
7. Water Based Enamel Market - By Type (Market Size -$Million)
8. Water Based Enamel Market - By End Use (Market Size -$Million)
9. Water Based Enamel Market - By Geography (Market Size -$Million)
10. Water Based Enamel Market - Entropy
11. Water Based Enamel Market Company Analysis
Methodology
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