Top Companies in Waterborne Coatings Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Waterborne Coatings Market is projected to reach USD 119.3 billion by 2028 at a CAGR of 3.3% over the forecast period.
The Global Waterborne Coatings Market is valued at USD 98.2 billion in 2021 and is projected to reach USD 119.3 billion by 2028 at a CAGR of 3.3% over the forecast period. The market for Waterborne Coatings is expected to experience growth challenges over the timeframe due to factors such as inconsistent enforcement, the availability of alternatives, and susceptibility to humidity. In the upcoming years, the development chances in highly organized countries and the rise in the expansion prospects in developing countries will also present growth opportunities for the Waterborne Coatings market.
The rise in environmental regulations and the demand for VOC-free coatings are two major factors anticipated to propel the growth of the Waterborne Coatings market during the forecast period. It is also projected that increased development in end-use industries will fuel the market for Waterborne Coatings.
On the other hand, uneven enforcement, the availability of substitutes, and humidity sensitivity are all anticipated to restrain market expansion over the projected year. The trade conflict could, however, pose new obstacles to the market for aqueous coatings soon.
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Amidst Exponential Growth in Waterborne Coatings Adoption, What Trends Should We Look Forward to?
- The promotion of construction activity all around the world is what fuels the expansion. It is anticipated that increasing building activity brought on by the rising industrialization and urbanization of the world will increase product demand.
- The disproportionate movement in coatings trends away from completely solvent-free coatings with lower emissions and toward low or high-volatility organic solvents is probably a factor in the rising demand for aqueous coatings in residential and commercial coating applications.
- The market expansion for vehicle applications is projected to be significantly influenced by increased automobile production capacity and expanding design and aesthetic innovation. Because of increased per capita disposable income and population growth, particularly in emerging economies, it is anticipated that the manufacture of automobiles will increase.
- Throughout the projected period, the market expansion will be supported by rising consumer demand for metal packaging applications from the food and beverage sector. Applications, including beverage cans and canned food items, use Waterborne Coatings. Over the next seven years, demand for Waterborne Coatings and canned foods will likely be driven by changing eating patterns and a busy lifestyle.
The Waterborne Coatings market is dominated by globally established players such as Akzo Nobel N.V. (Netherlands), Arkema (France), AXALTA (US), BASF SE (Germany), Benjamin Moore & Co. (US), Berger Paints India Limited (India), Hempel Group (Denmark), Jotun (Norway), Kansai Paint Co. Ltd. (Japan), KCC CORPORATION (South Korea), PPG Industries Inc. (US), The Sherwin-Williams Company (US), Sika AG (Switzerland), Covestro AG (Germany), The Dow Company (US), Solvay AG (Belgium), Silberline Manufacturing Co. Inc., Hexion Inc. (US). These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth Waterborne Coatingsmarket.
Let's Look at the Top 5 Companies That are Taking the Waterborne Coatings Market by Storm
The Waterborne Coatings market is expected to grow from USD 98.2 billion in 2021 to USD 119.3 billion in 2028 due to the automotive and marine industries' increased demand for aqueous coatings. The demand for Waterborne Coatings is anticipated to increase over the study period due to increased global car production and sales brought on by improved economic development.
- Akzo Nobel N.V. (Netherlands)
Performance Waterborne Coatings are produced by the Dutch multinational company Akzo Nobel N.V., also known as AkzoNobel, for use by consumers and industry worldwide. The company is headquartered in Amsterdam and operates in more than 80 nations.
- Arkema (France)
Located in Colombes, close to Paris, France, Arkema S.A. is a publicly trad, multinational manufacturer of specialty materials. Its three specialized material sectors are adhesives, advanced materials, and aqueous coatings.
- AXALTA (US)
The American business Axalta Coating Systems, Ltd., usually known as just Axalta, specializes in aqueous coatings for several industrial applications, materials, and industries, including, for instance, automobile paints.
- Hexion (US)
The Chemical firm Hexion Inc. or Hexion, is in Columbus, Ohio. Thermoset resins, associated technology, and specialized goods are produced by it. The Epoxy, Phenolic, and Waterborne Coating Resins Division and the Forest Products Division make up Hexion's organizational structure.
- PPG Industries Inc. (US)
PPG Industries, Inc. is a Fortune 500 American company that sells paints, aqueous coatings, and specialty materials worldwide. PPG has operations in more than 70 countries and has its headquarters in Pittsburgh, Pennsylvania.
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