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The report "Waterborne Coatings Market by Resin (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC), by Application (Architectural, Automotive, General Industrial, Protective, Wood, Marine, Packaging, Coil), by Region - Global Forecast to 2020", published by MarketsandMarkets™, the Global Waterborne Coatings Market size is projected to reach USD 75.29 Billion by 2020, at a CAGR of 5.05% from 2015.
Browse 89 market data Tables and 52 Figures spread through 190 Pages and in-depth TOC on “Waterborne Coatings Market”
The waterborne coatings industry is witnessing high growth because of increasing applications, government regulatory support, and increasing public awareness. Waterborne coatings are largely used in architectural applications. Rapid growth of the waterborne coatings market is driven by environmental concerns and increasingly stringent regulations.
The waterborne coatings market is estimated to be USD 58.86 billion in 2015 and is projected to reach USD 75.29 billion by 2020, at a CAGR of 5.05% between 2015 and 2020. The growth of the market is primarily triggered by a need to comply with progressively tightening of VOC regulations on a global scale. The restraints include uneven enforcement on government regulations in Asia-Pacific and RoW regions, availability of cheaper substitutes, and its sensitivity to humidity limiting its use in architectural applications.
The environment-friendly characteristic has actually been one of the most important trends in the coatings industry in from the past decade, largely influenced by tighter EU regulation regarding factors, such as the reduction of VOC emission in waterborne coatings. The demand has shifted from solventborne coatings to environment-friendly waterborne coatings. Resins are the key to innovation in waterborne coatings, which in turn influence the major trends in the waterborne coatings market.
The demand for waterborne coatings has experienced high growth over the last five years due to high growth of the building & construction industry especially in China and India. In Asia-Pacific, China dominates the waterborne coatings market, in terms of volume as well as value. Although construction spending in the country has slowed down due to the economic downturn, it is still expected that the building & construction industry will drive the waterborne coatings market.
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Another key end-use industry for the waterborne coatings is the automotive industry. The automotive industry in China is one of the largest globally, both in terms of sales and production. This has also resulted in increased demand for various waterborne coatings in the country. In India, the growing population, improved infrastructure, increase in construction activities promoting industrial growth are eventually expected to drive the waterborne coatings Market. The growth in the waterborne coatings market globally is expected to be varied across different regions as Asia-Pacific and RoW region to grow at high rate due to increased demand from architectural and automotive applications on the other hand Europe is witnessing slow growth due to slow growth in application area of waterborne coatings market.
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