Water Borne Coatings Market Outlook, 2028

The global waterborne coating industry market is a captivating arena where innovation, sustainability, and aesthetic excellence converge. As the world embraces a greener and more environmentally conscious future, waterborne coatings have emerged as the vanguard of responsible coating solutions. With their low volatile organic compound (VOC) content and reduced environmental impact, waterborne coatings have gained widespread recognition and acceptance across diverse sectors, including automotive, construction, furniture, packaging, and more. The industry's unwavering commitment to pushing the boundaries of performance and durability has propelled waterborne coatings to the forefront of global markets, captivating discerning customers and industries alike. These coatings offer a myriad of benefits, from excellent adhesion and corrosion resistance to vibrant colours and smooth finishes, all achieved while maintaining the highest standards of environmental sustainability. The global waterborne coating industry market is a dynamic landscape of constant innovation, where cutting-edge technology and creative expertise combine to deliver coatings that not only meet stringent regulatory requirements but also exceed the expectations of customers around the world. As the demand for eco-friendly and visually captivating coatings continues to surge, this industry remains at the forefront and serves as a catalyst for a more sustainable and aesthetically pleasing future. Waterborne coatings are more expensive than their alternatives, such as epoxy and polyurethane coatings. The higher cost is attributable to the high cost of raw materials, the cost of waterborne systems, and manufacturers' large investments in R&D. The need for a professional crew during formulations and operations raises the cost of coating application. In the business sector, however, skilled labour can offset the effect of high costs. Emerging economies are investing heavily in infrastructure and other long-term projects. Those in these economies are growing rapidly in comparison to those in North America and Western Europe, as major corporations invest heavily to capitalise on the prospects in these economies. The Asia-Pacific market, particularly in China and India, is providing considerable prospects for resin and waterborne coating makers. Manufacturers are investing in research and development to enhance the performance characteristics of waterborne coatings. This includes improving properties such as durability, scratch resistance, chemical resistance, and adhesion. Advanced formulation techniques and the incorporation of new additives and resins have led to the development of high-performance waterborne coatings that can rival solvent-based coatings.

According to the research report, Global Water Borne Coating Market Outlook, 2028, the market is anticipated to cross USD 121.62 Billion in size by 2028, increasing from USD 88.53 Billion in 2022. The market is projected to grow at a 5.53% CAGR by 2023-28. Waterborne coating technology is still evolving, and the increased knowledge in emerging countries about the benefits and performance characteristics of waterborne coatings is fueling market growth. Longer pot life, flexibility, and low VOC content are among the advantages. Manufacturers are raising awareness about the benefits of waterborne coatings all around the world. With a growing emphasis on environmental consciousness, consumers and industries are actively seeking eco-friendly solutions. Waterborne coatings offer a more sustainable alternative, as they have lower VOC emissions, reduced toxicity, and are water-based. The demand for coatings that minimise harm to the environment without compromising on performance or quality is driving the growth of the waterborne coating market. The construction and automotive sectors are major consumers of waterborne coatings. The growth of these sectors, particularly in emerging economies, is driving the demand for waterborne coatings for applications such as architectural paints, automotive refinishing, and protective coatings. Rapid urbanisation, infrastructure development, and the need for sustainable construction practises contribute to the increasing adoption of waterborne coatings. Consumer preferences are evolving, with a greater focus on aesthetics, product quality, and environmental impact. Waterborne coatings offer a wide range of colours, finishes, and textures, enabling manufacturers to meet the diverse aesthetic demands of consumers. Additionally, the eco-friendly nature of waterborne coatings appeals to environmentally conscious consumers who prioritise sustainable products. There is a growing trend towards waterborne and high-solid coatings as alternatives to traditional solvent-borne coatings. Manufacturers are investing in research and development to improve the performance, durability, and application properties of these environmentally friendly coatings. This transition is driven by stricter regulations on VOC emissions and the increasing demand for sustainable coating solutions. Coating manufacturers are focusing on providing customised solutions and colour matching services to meet the specific needs of their customers. This includes developing coatings with unique properties and characteristics tailored to specific industries and applications. The ability to provide custom colours and finishes enables manufacturers to cater to individual customer preferences.

There are several opportunities and challenges that are faced by this market. The global shift towards sustainable practises presents a significant opportunity for the waterborne coating market. As environmental regulations become more stringent and consumer preferences favour eco-friendly products, waterborne coatings, with their low VOC content and reduced environmental impact, are well-positioned to meet this demand. Furthermore, the construction industry is a major consumer of waterborne coatings, and the increasing construction activities, particularly in emerging economies, present a significant opportunity for market growth. Furthermore, challenges include the While waterborne coatings have made significant advancements in performance, there are still challenges to overcome, particularly in terms of durability, scratch resistance, and weathering. Manufacturers need to continue investing in research and development to match or exceed the performance of solvent-based coatings. Waterborne coatings can be more expensive than solvent-based coatings due to the complexity of their formulation and manufacturing processes. Cost competitiveness remains a challenge, especially in price-sensitive markets, and efforts are required to optimise production processes and reduce costs without compromising on quality. Transitioning from solvent-based coatings to waterborne coatings may pose challenges in terms of equipment compatibility, supply chain adjustments, and retraining of applicators. Adapting existing infrastructure and ensuring a smooth transition can be a challenge for manufacturers and end-users. Regulatory variations across different regions and countries can pose challenges for manufacturers operating in the global waterborne coating market. Compliance with varying regulations and standards requires careful navigation and can impact product formulations, testing, and market access.

Based on the resin types segment, there are acrylic, polyester, alkyd, epoxy, polyurethane, PTFE, PVDF, PVDC, and others. At a global level, the acrylic segment has the highest market share due to the fact that acrylic-based waterborne coatings offer versatility and can be formulated to meet various application requirements. They can be used in architectural coatings, automotive coatings, industrial coatings, wood coatings, and more. The ability of acrylic coatings to deliver excellent adhesion, durability, and weather resistance makes them suitable for diverse industries and applications. Acrylic-based waterborne coatings are generally more cost-effective compared to other alternatives, such as epoxy or polyurethane coatings. Lower raw material costs and efficient manufacturing processes contribute to their competitive pricing. The cost-effectiveness of acrylic coatings makes them attractive to a wide range of industries and end-users. Based on the application industry, which includes architecture and industry, At a global level, water-borne coatings are generally used more in architecture. Waterborne coatings are known for their low odour and reduced toxicity, creating a healthier indoor environment. In architectural projects where occupants spend a significant amount of time, the use of waterborne coatings helps to improve indoor air quality and create spaces that are more comfortable and pleasant for occupants. Waterborne coatings have emerged as the preferred choice in the architectural segment due to their multitude of benefits and superior qualities. One prominent reason for their widespread usage is their exceptional environmental friendliness. Architects and designers, driven by a growing global concern for sustainability, are increasingly opting for waterborne coatings that significantly reduce volatile organic compound (VOC) emissions. By minimising air pollution and harmful substances, these coatings help create buildings that are in harmony with the environment while providing a healthier and more sustainable living space.

Based on the report, there are five regions covered in this report: North America, Europe, Asia Pacific, South America, the Middle East, and Africa. At the global level, the Asia Pacific region has the highest market share. The Asia-Pacific region is experiencing significant economic growth, with countries like China, India, and Southeast Asian nations witnessing rapid industrialization and urbanisation. This growth has led to increased construction activities, infrastructure development, and manufacturing sectors, all of which drive the demand for waterborne coatings. The booming construction and industrial sectors in the region contribute to the high market share of waterborne coatings. As well, there is a growing awareness among consumers, industries, and governments in the Asia-Pacific region about the importance of sustainability and environmental protection. This awareness has translated into a preference for eco-friendly products, including waterborne coatings. The shift towards sustainable practises and the demand for greener alternatives have contributed to the higher market share of waterborne coatings in the region. Also, the Asia-Pacific region is home to a large automotive manufacturing industry, with countries like China, Japan, South Korea, and India being major automotive hubs. Waterborne coatings are extensively used in the automotive industry for coating vehicles, providing corrosion resistance, and enhancing aesthetics. The region's growing automotive sector, coupled with the shift towards sustainable coatings, boosts the market share of waterborne coatings.

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Water born Coating market with its value and forecast along with its segments
• Region-wise Water born Coating market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By Based on resin type:

• Acrylic
• Polyester
• Alkyd
• Epoxy
• Polyurethane
• PTFE
• PVDF
• PVDC
• Others

By Based on application industry:

• Architectural
• Industrial

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Smart Lighting industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.