The waterborne coatings market is expected to witness robust growth, as acrylic coatings promise to hold more than 50% of the share in the market. Their soluble qualities, and high-capacities to absorb water for end-applications promise robust growth for the market with a 5.0% CAGR. The global waterborne coatings market is expected to reach the estimated value of US$ 114.70bn by the end of 2026. The promising growth in the near future in manufacturing, and construction sector is expected to emerge as key driver for growth.
Among all different types of coatings, polyurethane is likely to dominate market growth in the near future. The segment has witnessed growing demand due to applications for highly rigid and tough surfaces. The high-resistance of these coatings, and their durability promises robust growth for the waterborne coatings market in the near future. Additionally, the segment is also expected to witness robust growth as chemical and physical resistance for applications like metal, textiles, and plastics is also on the rise.
Among different regions, Asia Pacific is expected to witness highest CAGR-driven growth. Rising demand for coatings in the region, increase in construction, and manufacturing, and rising disposable incomes are expected to drive growth for the waterbone coatings market. North America will likely register highest revenues as construction sector booms back up to drive robust growth.
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Building and Construction to Remain Key End-Users
The waterbone coatings market report studied various segments including building and construction, furniture and floorings, paper and printing, and automotive. Among these, the construction sector is expected to witness highest growth. Key demand from India, China, and the US for public infrastructure is expected to drive growth. India’s finance minister announced in 2019 that the country will spend over 5,00,000 bn rupees on public infrastructure over the next five years. China has undertaken large construction projects including its signature belt and road initiative. Moreover, the US is expected to join the developments soon with major reforms in its policies for infrastructure.
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Automotive Promises New Avenues for Growth
Electric vehicles are expected to create significant opportunities for players in the waterborne coatings market in the near future. All major global manufacturers have announced new electric vehicles in order to meet emissions targets. New vehicles promise new advancements in terms of design, attractive coatings, among others. Moreover, electric vehicle promise robust demand for lightweight coatings, which reduce the overall weight, and promise more boost for the electric vehicle technology. The waterbone coatings are also ideal for electric vehicle, as many natural options make way for sustainable materials, which is an increasing concern for regulators globally.
This review is based on the findings of a TMR report titled, “Waterborne Coatings Market (Resin - Acrylic, Formaldehyde, Polyurethane, Alkyd, Epoxy; End user - Building and Construction, Automotive, Furniture and Flooring, Electronics, Marine, Paper and Printing) - Global Industry Analysis, Value, Share, Growth, Trends, and Forecast 2018 – 2026.”
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