Global Water-based Coatings Market Trends, Applications, Analysis, Growth, and Forecast to 2028

The Water-based Coatings Market Report has been segmented on the basis of product type, resin type, end-use industries, and region.

Water-based Coatings Market Overview:

“The Water-based Coatings Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Water-based coatings are utilized to coat and paint buildings, automobile parts, architecture, and furniture, among others. Water-based coating products are safe for use as compared to solvent-based coatings as they are highly volatile and considered harmful to the respiratory system.

Polyvinyl ethers, polyacrylate, or polyurethane resins are combined as binders in water-based coatings.  Water-based coatings are utilized for enclosed areas and do not cause any harmful emissions.

In addition, the use of water as a solvent makes it environment-friendly compared to various other coating solutions such as powder coatings or solvent-based coatings.

In water-based coatings, the volatile organic compounds (VOCs) present are in fewer quantities thus, produce less atmospheric emissions. Moreover, water-based coatings possess excellent resistance to abrasion and heat.

Water-based coatings are majorly used in various end-use industries such as building and construction, automotive, electronics, marine, and paper and packaging, among others. Building and construction industry holds a major market share.

The water-based coating offers numerous properties such as better initial adhesion, eco-friendly nature, and others, and is majorly utilized in the paper and packaging industry for various applications, including packaging tapes, food packaging, and flexible laminations.

Water-based Coatings Market Dynamics:

Growing adoption of water-based coatings across different end-use industries such as building and construction and paper and packaging is a major factor expected to drive the global water-based coatings market growth.

The rising need for water-based coatings for automotive and electrical and electronics applications is another factor expected to drive the growth of the global water-based coatings market.

Increasing awareness regarding environment-friendly coating products owing to various rules and regulations by government authorities.

Moreover, increasing investment in the building and construction sector in developing countries and high growth in the marine industry are expected to offer numerous revenue growth opportunities for the key players operating in the target market.

These are additional factors projected to drive the growth of the global water-based coatings market.

However, inconsistent raw material cost is a major factor expected to hamper the global water-based coatings market growth.

Water-based Coatings Market Segment Insights:

Among the product type segments, the water-soluble paints segment is expected to account for moderate revenue share in the global water-based coatings market. The revenue of the water-soluble paints segment is anticipated to register the fastest CAGR.

Among the resin-type segments, the acrylic segment is estimated to account for a major revenue share in the global water-based coatings market. The revenue of the acrylic segment is anticipated to register the fastest CAGR.

Water-based Coatings Market Region Insights

Asia Pacific market is expected to account for a major revenue share in the global water-based coatings market.

Asia Pacific water-based coatings market is projected to register the highest revenue growth, owing to rapid growth in the automotive and building and construction industries in countries in the region.

Water-based Coatings Market Segmentation:

Segmentation by Product Type:

• Water-Soluble Paints
• Colloidal Coatings
• Emulsions/Latex Paints
• Water-Based Alkyds

Segmentation by Resin Type:

• Acrylic
• Formaldehyde
• Polyurethane
• Alkyds
• Epoxy
• Others

Segmentation by End-Use Industries:

• Building and Construction
• Automotive
• Electronics
• Marine
• Paper and Packaging
• Others

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa