Water Borne Coatings Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Water Borne Coatings Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021 •
  • 175 pages •
  • Report ID: 6071982 •
  • Format: PDF
Major players in the water borne coatings market are BASF SE, Axalta Coating Systems LLC, Berger Paints India Ltd, Kansai Paint Co., Ltd., Nippon Paint Holdings Company Ltd, PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company, The Valspar Corporation and Tikkurila Oyj.

The global water borne coatings market is expected to grow from $132.57 billion in 2020 to $143.59 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $169.72 billion in 2025 at a CAGR of 4%.

Solvents contain organic co solvents that use water as a solvent to disperse resin.

There is a rapid growth in consumption of water borne coatings in many industries such as automotive, construction and manufacturing.Water borne coatings are widely used in printing inks, in the automotive OEM sector, plastics and other manufacturing industries.

Therefore, growth in end-user industries is expected to drive the market for water borne coatings.

Rising costs is acting as a restraint on the water borne coatings market.The rise in raw material costs resulted in higher manufacturing costs, thus decreasing the investments in research and development of new products.

For instance, in India, raw material costs for coatings producers generally were around 57.6% of total sales in 2019. Additionally, companies invested heavily on marketing their products due to intense competition in the market. Rising trucking, railroad, dry-bulk and air-freight rates also negatively impacted the market. This rise in operating costs increased pressure on companies to protect margins while maintaining the quality of their products.

The water borne coatings market covered in this report is segmented by type into acrylic, epoxy, polyurethane, polyester, alkyd, polyvinylidene chloride (PVDC), polyvinylidene fluoride (PVDF) and others. The water borne coatings market in this report is segmented by application into appliances, automotive, architectural, marine, packaging, wood and general industrial.

Smart coatings and high-performance coating technologies are being adopted by companies to enhance efficiencies of coating compounds.Nano coatings, are a type of smart coating that have extremely tiny particles and unique characteristics such as flexibility, resistance to corrosion and micro bacterial growth.

Fluoropolymer coating is known for its high-performance properties such as long-life cycle and high cost efficiency.