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Waterborne Coatings Market, By Resin Type, By Application, and By Region Forecast to 2028

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    Report

  • 267 Pages
  • February 2022
  • Region: Global
  • Reports and Data
  • ID: 5623659
The global waterborne coatings market size is expected to reach USD 115.29 billion in 2028 and register a revenue CAGR of 5.2% over the forecast period, according to a latest report. The growing preference for water-based coatings for various applications, owing to the low volatile organic compounds (VOC) emission and stringent government regulations is expected to fuel the market growth.

Waterborne coatings are eco-friendly as they emit very low levels of VOCs during the drying process. The manufacturing process of waterborne coatings also helps in conserving energy and reduces the overall carbon footprint. These factors are expected to fuel the demand for waterborne coatings over the forecast period.

The automotive industry is one of the major consumers of waterborne coatings, owing to the stringent environmental regulations regarding VOC emissions. The demand for waterborne coatings in the automotive industry is expected to grow at a significant rate over the forecast period.

Market revenue growth of waterborne coatings is mainly driven by its low VOC emissions and regulatory pressures for reducing the environmental impact of volatile organic compounds (VOCs) from solvent-based products. However, high manufacturing costs of waterborne coatings as compared to solvent-based coatings is anticipated to hamper market growth over the forecast period. Moreover, rising demand for polyester coatings among the end-use sectors is fuelling market growth. However, volatile raw materials prices are anticipated to restrain the market over the forecast period.

Paint Quality Institute, a paint advising and testing organization, defines waterborne coatings as latex and acrylic types of paint that have replaced older, oil-based formulations. Water-based paints are sometimes referred to as latex or acrylic paint. They have largely replaced older, oil-based formulations due to their low odor, easy cleanup and improved color retention.

Some Key Highlights in the Report

  • In September 2020, PPG completed the acquisition of Aquaflos, a leading provider of water-based technologies for transportation and other industrial markets. The acquisition will enable PPG to serve an even broader range of customers with advanced waterborne coating technologies. This will also position PPG as a technology leader in the global market for waterborne coatings.
  • Acrylic segment is expected to account for largest revenue share in the global waterborne coatings market. Increasing demand for acrylic-based waterborne coatings from building and construction, automotive, and furniture & furnishing applications is expected to fuel the segment growth over the forecast period.
  • Waterborne polyurethane (PU) segment is expected to grow at highest CAGR over the forecast period. Growth of this segment can be attributed to excellent abrasion and chemical resistance properties of PU. Epoxy segment is expected to grow at second-highest CAGR over the forecast period.
  • Architectural segment is expected to account for the largest share of the waterborne coatings market in terms of value, during the forecast period. Waterborne coatings are gaining popularity among architects, painters, and construction workers as they offer a wide range of benefits such as low VOC content, easy applicability, and enhanced durability. Moreover, these coatings have low odor and are safe to use, which is further projected to fuel the demand for waterborne coatings in the architectural segment.
  • The automotive & transportation segment is one of the major consumers of waterborne coatings globally. The primary reason for the high demand for waterborne coatings in this segment is their superior properties such as resistance to abrasion, corrosion, and chemicals. Moreover, these coatings offer good aesthetics and can be easily applied on different kinds of automotive substrates.
  • The Asia Pacific region is anticipated to be the fastest-growing market for waterborne coatings, owing to the growing construction and automotive industries in the region. The growing population and urbanization are also some of the key factors driving the market growth in the Asia Pacific region.
  • North America is expected to witness significant growth over the forecast period due to flourishing construction and automotive industry in the region. The U.S. is a major consumer of waterborne coatings in North America.
Some companies in the market include Kansai Paint Co., Ltd., Akzo Nobel N.V., Axalta Coating Systems, Ltd., BASF SE, Berger Paints Ltd, Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., RPM International Inc., Sherwin-Williams Company, and Tikkurila Oyj.

For the purpose of this report, the publisher has segmented global waterborne coatings market based on resin type, application, and region:


Resin Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)

  • Polyurethane
  • Acrylic
  • Others

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)

  • Industrial
  • Architectural
  • Others

Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Sweden
  • BENELUX
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Rest of LATAM
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Israel
  • Rest of MEA

Table of Contents

Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Indicative Metrics
Chapter 4. Waterborne Coatings Market Segmentation & Impact Analysis
4.1. Waterborne Coatings Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Stringent regulations regarding coatings containing VOC
4.2.2.2. Increasing demand from end-use industries
4.2.2.3. Rising investment in construction sector
4.2.2.4. Increasing production of automobiles
4.2.3. Market restraints analysis
4.2.3.1. Availability of substitutes
4.2.3.2. Problems related to flow and viscosity control
4.2.3.3. Chances of formation of foam
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Chapter 5. Waterborne Coatings Market By Resin Type Insights & Trends
5.1. Resin Type Dynamics & Market Share, 2021 & 2028
5.2. Polyurethane
5.2.1. Market estimates and forecast, 2018 - 2028 (USD Billion) (Kilo Tons)
5.2.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Billion) (Kilo Tons)
5.3. Acrylic
5.3.1. Market estimates and forecast, 2018 - 2028 (USD Billion) (Kilo Tons)
5.3.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Billion) (Kilo Tons)
5.4. Others
5.4.1. Market estimates and forecast, 2018 - 2028 (USD Billion) (Kilo Tons)
5.4.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Billion) (Kilo Tons)
Chapter 6. Waterborne Coatings Market By Application Insights & Trends
6.1. Application Dynamics & Market Share, 2021 & 2028
6.2. Industrial
6.2.1. Market estimates and forecast, 2018 - 2028 (USD Billion) (Kilo Tons)
6.2.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Billion) (Kilo Tons)
6.3. Architectural
6.3.1. Market estimates and forecast, 2018 - 2028 (USD Billion) (Kilo Tons)
6.3.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Billion) (Kilo Tons)
6.4. Others
6.4.1. Market estimates and forecast, 2018 - 2028 (USD Billion) (Kilo Tons)
6.4.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Billion) (Kilo Tons)
Chapter 7. Waterborne Coatings Market Regional Outlook
7.1. Waterborne Coatings Market share By Region, 2021 & 2028
7.2. North America
7.2.1. North America Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.2. North America Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.3. North America Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.4. U.S.
7.2.4.1. U.S. Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.4.2. U.S. Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.4.3. U.S. Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.5. Canada
7.2.5.1. Canada Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.5.2. Canada Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.5.3. Canada Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.6. Mexico
7.2.6.1. Mexico Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.6.2. Mexico Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.2.6.3. Mexico Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3. Europe
7.3.1. Europe Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.2. Europe Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.3. Europe Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.4. Germany
7.3.4.1. Germany Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.4.2. Germany Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.4.3. Germany Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.5. U.K.
7.3.5.1. U.K. Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.5.2. U.K. Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.5.3. U.K. Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.6. France
7.3.6.1. France Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.6.2. France Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.6.3. France Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.7. Italy
7.3.7.1. Italy Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.7.2. Italy Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.7.3. Italy Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.8. Spain
7.3.8.1. Spain Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.8.2. Spain Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.8.3. Spain Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.9. Sweden
7.3.9.1. Sweden Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.9.2. Sweden Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.9.3. Sweden Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.10. BENELUX
7.3.10.1. BENELUX Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.10.2. BENELUX Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.10.3. BENELUX Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.11. Rest of Europe
7.3.11.1. Rest of Europe Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.11.2. Rest of Europe Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.3.11.3. Rest of Europe Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4. Asia-Pacific
7.4.1. Asia-Pacific Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.2. Asia Pacific Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.3. Asia-Pacific Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.4. China
7.4.4.1. China Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.4.2. China Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.4.3. China Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.5. India
7.4.5.1. India Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.5.2. India Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.5.3. India Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.6. Japan
7.4.6.1. Japan Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.6.2. Japan Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.6.3. Japan Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.7. South Korea
7.4.7.1. South Korea Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.7.2. South Korea Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.7.3. South Korea Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.8. Rest of APAC
7.4.8.1. Rest of APAC Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.8.2. Rest of APAC Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.4.8.3. Rest of APAC Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5. Latin America
7.5.1. Latin America Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5.2. Latin America Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5.3. Latin America Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5.4. Brazil
7.5.4.1. Brazil Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5.4.2. Brazil Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5.4.3. Brazil Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5.5. Rest of LATAM
7.5.5.1. Rest of LATAM Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5.5.2. Rest of LATAM Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.5.5.3. Rest of LATAM Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6. Middle East and Africa
7.6.1. Middle East and Africa Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.2. Middle East and Africa Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.3. Middle East and Africa Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.4. Saudi Arabia
7.6.4.1. Saudi Arabia Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.4.2. Saudi Arabia Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.4.3. Saudi Arabia Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.5. UAE
7.6.5.1. UAE Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.5.2. UAE Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.5.3. UAE Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.6. South Africa
7.6.6.1. South Africa Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.6.2. South Africa Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.6.3. South Africa Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.7. Israel
7.6.7.1. Israel Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.7.2. Israel Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.7.3. Israel Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.8. Rest of MEA
7.6.8.1. Rest of MEA Waterborne Coatings Market estimates and forecast, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.8.2. Rest of MEA Waterborne Coatings Market estimates and forecast by Resin Type, 2018 - 2028, (USD Billion) (Kilo Tons)
7.6.8.3. Rest of MEA Waterborne Coatings Market estimates and forecast by Application, 2018 - 2028, (USD Billion) (Kilo Tons)
Chapter 8. Competitive Landscape
8.1. Market Revenue Share By Manufacturers
8.2. Manufacturing Cost Breakdown Analysis
8.3. Mergers & Acquisitions
8.4. Market positioning
8.5. Strategy Benchmarking
8.6. Vendor Landscape
Chapter 9. Company Profiles
9.1. Kansai Paint Co., Ltd.
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Technology Insights
9.1.4. Strategic Initiatives
9.2. Akzo Nobel N.V.
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Technology Insights
9.2.4. Strategic Initiatives
9.3. Axalta Coating Systems, Ltd.
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Technology Insights
9.3.4. Strategic Initiatives
9.4. BASF SE
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Technology Insights
9.4.4. Strategic Initiatives
9.5. Berger Paints Ltd
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Technology Insights
9.5.4. Strategic Initiatives
9.6. Nippon Paint Holdings Co., Ltd.
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Technology Insights
9.6.4. Strategic Initiatives
9.7. PPG Industries, Inc.
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Technology Insights
9.7.4. Strategic Initiatives
9.8. RPM International Inc.
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Technology Insights
9.8.4. Strategic Initiatives
9.9. Sherwin-Williams Company
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Technology Insights
9.9.4. Strategic Initiatives
9.10. Tikkurila Oyj
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Technology Insights
9.10.4. Strategic Initiatives

Companies Mentioned

  • Kansai Paint Co. Ltd.
  • Akzo Nobel N.V.
  • Axalta Coating Systems Ltd.
  • BASF SE
  • Berger Paints Ltd
  • Nippon Paint Holdings Co. Ltd.
  • PPG Industries Inc.
  • RPM International Inc.
  • Sherwin-Williams Company
  • Tikkurila Oyj