Waterborne Coatings Market Analysis

Waterborne Coatings Market Analysis

Global waterborne acrylic coatings segment surpassed USD 45 billion in 2020 and is anticipated to witness significant gains over the forecast timeframe. The product provides excellent flexibility, adhesion, good resistance to heat and requires less amount of coating to cover a particular surface as compared to other solvent-borne coatings. Acrylic coating is widely used on exterior and interior surfaces such as doors, trim, frames, and wall surfaces.

Acrylic coatings offer benefits of excellent color retention and high gloss and are therefore highly preferred for topcoats and metal finishes. Furthermore, the product is also used for home and architectural paints, direct-to-metal exterior coatings for railroad boxcars and hopper cars, thereby accelerating the waterborne coatings market growth during the forecast time span.
 

The architectural applications segment is anticipated to surpass USD 10 billion by 2027. The product offers eco-friendly characteristics including low volatile organic content (VOC) levels owing to which it is widely used for architectural applications. Coatings on architectural surfaces are used to protect and decorate the surface features from outer as well as inner surface. Rise in demand for water-based coatings rather than solvent-based coatings for architectural applications should propel the waterborne coatings market growth.
 

The product offers beneficial characteristics of low-odor, safe and easy clean-up which has promoted product utilization in the architectural sector, thereby stimulating market growth. Growth in usage for interior wall paints, floor finishes, façade paints and wood will augment the market scope.
 

North America industry is poised to surpass USD 25 billion by the end of 2027. Stringent government regulations for supporting eco-friendly products should boost product demand owing to its non-toxic nature. Increasing vehicle manufacturing in the region presents ample growth opportunities.
 

Waterborne coatings can protect vehicles against abrasion, acid rain, UV radiation, heat resistant and severe weather. Automotive OEMs’ inclination towards these coatings owing to its superior characteristics along with use of environmentally safe products should foster product demand.