The growth of the building and construction industry owing to the growth in urbanization and industrialization coupled with the increasing disposable income and demand for architectural projects has led to the increase in demand for the Waterborne Coatings Market.
Jersey City, New Jersey, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Waterborne Coatings Market” By Resin Type (Architectural Coating Resins, Other Resins), By End-User (Industrial, Wood, Architectural And Decorative, Automotive), and By Geography.
According to the extensive research done by Verified Market Research experts, the Waterborne Coatings Market size was valued at USD 76.81 Billion in 2020 and is projected to reach USD 111.39 Billion by 2028, growing at a CAGR of 4.86% from 2021 to 2028.
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Browse in-depth TOC on “Waterborne Coatings Market”
202 - Pages
126 – Tables
37 – Figures
Global Waterborne Coatings Market Overview
Waterborne coating is a term that is used to define any finish or surface coating which uses water as a solvent in order to disperse the resin that is added to it, in order to create the coating. The composition of waterborne coatings varies and can include large amounts of water with small amounts of other solvents. The higher the water content, the more environmentally friendly and easy it to apply the waterborne coatings are.
Waterborne coatings have a low environmental impact as it contains about 800% water content and carries low VOC emissions to the environment. The rise in the awareness of the environmental impact of coatings coupled with the government regulations to limit the use of coatings that are not environment friendly are the factors that increase the demand for waterborne coatings.
Also, the government is taking initiatives to increase the water content to be used as a solvent to make it safer and lower the environmental impact. Moreover, these coatings are employed in a number of industries like automobiles, healthcare, and building and construction among others. The growth of these industries coupled with the increase in awareness of environmental impact further drives the market growth for the Waterborne Coatings Market.
Partnerships, Collaborations, and Agreements
In June 2019, Korean Hyundai Heavy Industries (HHI) signed a memorandum of understanding (MOU) with Jotun. The aim of this partnership is to use Jotun’s new marine paint in order to meet environmental regulations by reducing solvent emissions by 90%.
Mergers and Acquisitions
In August 2019, Mapaero SAS, a leading company in the United States, was acquired by AkzoNobel N.V., a leading coating and paints provider. The aim of this acquisition is to expand and strengthen the AkzoNobel N.V. coating business globally.
Product Launches and Product Expansions
In May 2019, PPG MACHINECOAT waterborne weathering stain has been launched by PPG Industries which is a leading supplier of coatings and paints globally. It is a low volatile organic compound (low-VOC) stain which is a substitute for traditional solvent-based PPG Machinecoat alkyd weathering stains.
The major players in the market are BASF SE, Akzonobel, N.V., PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company, The Valspar Corporation, Axalta Coating Systems LLC, Nippon Paint Co. Ltd., Kansai Paint Co. Ltd., Tikkurila OYJ.
Verified Market Research has segmented the Global Waterborne Coatings Market On the basis of Resin Type, End-User, and Geography.
Waterborne Coatings Market, by Resin Type
Architectural Coating Resins
Waterborne Coatings Market, by End-User
Architectural & Decorative
Others (Packaging & Transportation)
Waterborne Coatings Market, by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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