Waterborne Coatings Market Size By Application (Architectural, Automotive OEM, General Industrial, Protective Coatings, Metal Packaging, Automotive Refinish, Coil, Marine, Industrial Wood), By Product (Acrylic, Epoxy, Polyurethane, Polyester, PTFE, Alkyd, PVDF, PVDC), Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

Published Date: Nov 2017  |  Report ID: GMI1708  |  Authors: Kunal Ahuja, Sonal Singh

Report Format: PDF   |   Pages: 185   |   Base Year: 2016

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Waterborne Coatings Market size was over USD 60 billion in 2016 and consumption should surpass 30 million tons by 2024. Increasing usage in wood, architecture, packaging and automobile industries should drive the industry size. These products are low-toxic in nature, eco-friendly, contains low-VOC and possess good adhesive properties making it suitable for commercial and industrial use. 

Global architectural coatings applications estimated to surpass USD 90 billion by 2024 due to increasing demand in residential, industrial and commercial infrastructure supported by easy financial assistance. Rapid urbanization in Asia Pacific and LATAM along with high construction spending should boost the waterborne coatings market demand.

Waterborne Coatings Market Statistics

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Stringent enforcement regulations regarding maintaining low VOC levels should drive industry growth. Waterborne paints are a class of low-VOC & HAP content product developed to reduce harmful emissions, provide hardness and demonstrate efficient weather resistance compared to latex paints which have higher VOC content.

These coatings are widely applicable in wood industry for windows, furniture, cabinets, flooring and doors. Global wood paints business should surpass USD 3 billion by 2024 owing to its low odour, low VOC and formaldehyde content making it suitable for wood industry. Rising economic standards have led to increase in renovation activities with interior decorations thereby stimulating the waterborne coatings market growth.

Weak adhesive quality over marginally prepared surfaces at low temperature, requires increased working time and cost, hindering industry growth. These products do not have strong adhesive properties when applied over chalky, grimy and peeling surfaces compared to alkyds & requiring thorough surface preparation.

Key raw materials for production include polyester, polyurethane, polytetrafluoroethylene, polyvinylidene chloride and fluoride. These materials have wide usage & demand in various other industries which may widen demand & supply gap thereby affecting the waterborne coatings market price trend.

Waterborne Coatings Market Report Coverage
Report Coverage Details
Base Year:2016Historical Data for:2013 to 2016
Market Size in 2016:60 Billion (USD)Forecast Period:2017 to 2024
No. of Pages:185
2024 Value Projection:95 Billion (USD) Tables, Charts & Figures:198
Geographies covered (19):U.S., Canada, Mexico, Germany, France, UK, Italy, Russia, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Brazil, South Africa, Saudi Arabia, UAE
Segments covered:Application, Product, and Region

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Market, By Application

Architectural coatings should witness strong gains and surpass USD 85 billion at the end of 2024. Interior wall coatings occupy a major part of architectural coatings sector. They are used as standard technology to help in reducing VOC content in the atmosphere.

Automotive OEM applications should register gains at over 5% during foreseeable timeframe. It protects automobile from UV radiation, bad weather, acid rains and discoloration of paints. Strong automotive production rate along with growing vehicle demand in Europe and Asia Pacific region should propel the waterborne coatings market share.

Metal packaging applications should witness gains at above 3%. It finds extensive application in preserving food and other edibles from pathogen. Metal packaging in food & beverage protection extends product shelf life and keeps nutrition intact complying to consumer demand which should fuel the waterborne coatings market.

Protective coating applications should witness steady gains owing to increasing demand to protect machineries and equipment from harsh operating & environmental conditions. Strong indicators for growth in construction, oil & gas and manufacturing sector may have positive influence on waterborne coatings market demand.

Market, By Product

Waterborne Coatings Market by Product

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Acrylic waterborne coatings segment may exceed USD 60 billion by 2024. Key characteristics include high UV resistance, colour retention, durability, floss retention, toughness, flexibility and resistance to cracking which makes it suitable for construction, metal refinishing and protective coatings.

Waterborne PU coatings should grow at over 6% by 2024.These provide excellent balance of flexibility, abrasion resistance and hardness making it a popular choice for bonded leather, PVC and rigid plastic applications, thereby stimulating market growth.

Alkyd based waterborne coatings should witness significant gains during the forecast timeframe. Strong R&D spending to formulate novel products along with development of advanced processing technology to produce solvent-free alkyd formulation which may contribute towards the waterborne coatings market growth.

Market, By Region

Europe market should observe growth at over 4% during forecast period. Strict regional employee safety & protection laws refrain using solvent based paints and promote using bio-based coatings in automotive refinish industry. Growing automotive sales in the region should propel the waterborne coatings market.

Germany market size should surpass USD 7.5 billion at the end of 2024. Stringent regulations to lower VoC emissions to reduce carbon footprints along with presence of automobile manufacturing units may boost product demand in the region.

China market size must witness significant gains during foreseeable timeframe owing to adoption of green technologies. Strict environmental policies have led to rise in use of eco-friendly coating technologies which may favor regional waterborne coatings market trends.

Competitive Market Share

Waterborne coatings industry share is moderately fragmented with presence of key participants including BASF, Berger Paints, PPG Industries, Sherwin Williams, Valspar, Axalta, and Nippon Paint. These players have adopted strategies to capacity expansion, new product development and regional expansion by mergers, acquisition and partnership.

Companies are also focusing on enhancing their product portfolio and reducing production cost by adopting new production technologies.

Industry Background

These products are green substrates which use water as solvent to dissolve resin, making it easy to apply and environmentally friendly. It contains about 80% water combined with minimum quantities of other solvents like glycol ether. These products contain with minimum level of VOC & HAP content. They offer good thermoplastic properties, flexibility and stays soft coping better movements with the substrate. These paints also are highly durable with better mould & chalk resistance.

The waterborne coatings market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD from 2013 to 2024, for the following segments:

By Application

  • Architectural
  • Automotive OEM
  • General Industrial
  • Protective Coatings
  • Industrial Wood
  • Metal Packaging
  • Automotive Refinish
  • Coil
  • Marine
  • Others

By Product

  • Acrylic
  • Epoxy
  • Polyester
  • Alkyd
  • Polyurethane
  • PVDF
  • PVDC
  • PTFE
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Thailand
    • Brazil
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

Frequently Asked Questions (FAQ) :

In 2016, the global waterborne coatings market size was worth USD 60 billion, and the industry expects consumption to surpass 30 million tons by 2024, owing to rising product use in packaging & automotive applications.
The global waterborne coatings market size from architectural applications may cross USD 85 billion by 2024, as these coatings are often used in interior walls to reduce VOC content in the atmosphere.
The global waterborne coatings industry size from automotive OEM applications may record 5% CAGR through 2024, as these products protect vehicles from bad weather, paint discoloration, acid rains, & UV radiation.
Global waterborne coatings industry share from metal packaging applications may record 3% CAGR through 2024, as these products are used extensively in the F&B sector to preserve food from pathogens.
Acrylic waterborne coatings market size may cross USD 60 billion by 2024, as acrylic products exhibit features such as color retention, toughness, high UV resistance, & durability, making them suitable for major end-use domains.
Waterborne PU coatings market size may depict 6% CAGR through 2024, as these products deliver excellent abrasion resistance, hardness, and balance of flexibility.

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Premium Report Details

  • Published Date: Nov 2017
  • Pages: 185
  • Tables: 188
  • Charts / Figures: 10
  • Companies covered: 18
  • Countries covered: 19

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