Global Water Resistant Paint Market Report 2024

The water resistant paint market size has grown strongly in recent years. It will grow from $3.43 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historical period can be attributed to several factors, including heightened demand for durable coatings, the implementation of strict environmental regulations, a transition from solvent-based to water-based formulations, rising disposable incomes, and advancements in raw material innovation.

The water resistant paint market size is expected to see strong growth in the next few years. It will grow to $4.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. Anticipated growth in the forecast period can be attributed to several factors, including increasing demand for sustainable solutions, the burgeoning automotive sector, heightened demand in industrial applications, a concerted focus on energy efficiency, and mounting concerns regarding urban air quality. Key trends projected for the forecast period include the burgeoning expansion of the construction industry, a heightened awareness of waterproofing solutions, ongoing innovation in formulations, the widening of retail channels, and the continued urbanization and development of infrastructure.

The increasing demand within the automotive sector is poised to fuel the expansion of the water-resistant paint market in the foreseeable future. The automotive industry is influenced by various factors such as the need for personal transportation, stable semiconductor supplies, rising per capita income, and urbanization trends. Water-resistant paint plays a crucial role in the automotive sector by safeguarding vehicle exteriors against water damage, corrosion, and environmental elements, thereby enhancing their durability and longevity. For example, as reported by the Driver and Vehicle Licensing Agency (DVLA) in December 2022, the UK witnessed a 1% increase in licensed vehicles, reaching a total of 40.7 million compared to the previous year. Hence, the growing demand within the automotive sector is propelling the expansion of the water-resistant paint market.

Key companies in the water-resistant paint market are prioritizing the development of waterproof coatings for roofs and walls, incorporating synthetic fibers such as elastomeric liquid waterproofing membranes to meet the escalating demand for advanced waterproofing solutions. Fiber-reinforced elastomeric liquid waterproofing membranes offer a versatile and robust solution for waterproofing applications, blending the flexibility of elastomers with the strength of embedded fibers to create a reliable barrier against water intrusion. For instance, in February 2023, Kamdhenu, an India-based provider of steel and paint products, introduced its new product, Kamo Damp Proof, designed to address waterproofing needs and shield buildings from water-related issues. This innovative solution helps prevent dampness, seepage, and other water-related problems, ensuring the structural longevity and durability of buildings. The aim is to provide superior waterproofing solutions to protect external surfaces from rain, algae, fungi, and other detrimental elements.

In January 2022, DuluxGroup Limited, an Australia-based provider of paints, coatings, and home improvement products, acquired Cromology, a France-based company specializing in decorative paints and coatings, including water-resistant paints. Through this acquisition, DuluxGroup Limited aims to expand its presence in the decorative paints and coatings market by leveraging Cromology's strong brands, manufacturing capabilities, and distribution network to drive continued growth.

Major companies operating in the water resistant paint market are BASF SE, Sherwin-Williams Company, PPG Industries Inc., AkzoNobel NV, Nippon Paint Holdings Co Ltd., RPM International Inc., KCC Corporation, Axalta Coating Systems Ltd., Valspar Corporation, Asian Paints Limited, Kansai Paint Co Ltd, Shalimar Paints Limited, Jotun group, Hempel A/S, Berger Paints India Limited, DuluxGroup Limited, Benjamin Moore & Co., DAW SE, Rust-Oleum Corporation, Chugoku Marine Paints Ltd., TOA Group, Kelly-Moore Paints, Diamond Vogel Paints, Tnemec Company Inc., Dunn-Edwards Corporation.

North America was the largest region in the water resistant paint market in 2023. The regions covered in the water resistant paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the water resistant paint market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Water-resistant paint is a specialized type of paint engineered to repel water and thwart moisture intrusion. Widely utilized in areas prone to frequent exposure to moisture, such as bathrooms, kitchens, and outdoor surfaces, it serves as a protective barrier against water damage.

The primary varieties of water-resistant paint include acrylics, polyurethane, and other formulations. Acrylic water-resistant paint, in particular, is crafted from acrylic resins, renowned for their exceptional water resistance and robustness suitable for both indoor and outdoor applications. These paints create a resilient coating capable of withstanding moisture and environmental elements. Distribution channels for these products encompass direct sales, hypermarkets or supermarkets, specialty stores, online retailing, among others. They find application across diverse surfaces including interior walls, exterior walls, bathrooms, metal surfaces, furniture, roofs, and more, catering to end-users ranging from commercial construction to industrial facilities.

The water resistant paint market research report is one of a series of new reports that provides water resistant paint market statistics, including water resistant paint industry global market size, regional shares, competitors with a water resistant paint market share, detailed water resistant paint market segments, market trends and opportunities, and any further data you may need to thrive in the water resistant paint industry. This water resistant paint market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The water-resistant paint market consists of sales of products such as exterior paints, interior paints, specialty coatings, wood coatings, and metal coatings. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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