Water-borne Coatings Market - Segmented by Resin Type, End-user Industry, and Geography - Growth, Trends and Forecast (2019 - 2024)

Water-borne Coatings Market - Segmented by Resin Type, End-user Industry, and Geography - Growth, Trends and Forecast (2019 - 2024)

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The global water-borne coatings market registered a value of USD 67,741.43 million, in 2017. It is expected to witness a CAGR of 4.61% during the forecast period, 2018 to 2023. The architectural & decorative segment is expected to be the largest segment, followed by automotive, during the forecast period.

The water-borne coatings use water as a solvent to disperse a resin which makes it eco-friendly and easy to apply. A general water-borne coating contains up to 80% water with small quantities of other solvents. These coatings are also known to be environment-friendly, as US and European regulations require water-borne coatings to have a VOC content of less than 3.5 pounds per gallon of water.

Increasing Demand for Building & Construction

The demand for building & construction industry is mainly due to the rapid urbanization in Asia-Pacific. In China, the housing authorities of Hong Kong have launched various measures to push-start the construction of low-cost housing. The authorities have projected the capital expenditure in construction to be HKD 23,923 million, in its proposed budget for 2018-19, i.e. 7% higher than the budget allotted for the FY2017, in order to construct more affordable flats. Moreover, the North American region has also witnessed growth in the new construction activities. The new residential construction, in terms of annual rate for housing units started in United States, recorded growth of 6.34% in 2016 when compared to that of 2015. In the first 10 months of 2017, the new residential construction recorded a growth of 2.43% when compared to the same time period in 2016. This increase, in construction activities, is expected to drive the demand for water-borne coatings across the globe.

Pure Acrylic Resin based Coatings to Witness the Fastest Growth

The pure acrylic resins contain only acrylic monomers, on which different functionalization can be present. The pure acrylic has outstanding properties, including weather stability and durability. They also show excellent water, aging, and yellowing resistance. The demand for these resins is expected to witness growth in the Asia-Pacific, North American and European regions for construction and automotive industry.

Key Developments

  • July 2017: PPG to acquire coatings application service provider — The Crown Group, a US based coatings application services business, from High Road Capital Partners, and Charter Oak Capital Partners
  • June 2017: Hempel established a new R&D facility solely focused on passive fire protection (PFP) coatings near Barcelona, Spain. The center is likely to be fully functional by the end of 2018

Major Players: Akzonobel N.V., Sherwin Williams, PPG Industries, Nippon Paint Holdings, Axalta, RPM International , among others.

Reasons to Purchase this Report

  • Current and future of Global Water-borne Coatings Market in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identifying the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

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1. Introduction

                1.1 Research Phases

                1.2 Study Deliverables

                1.3 Scope of the Report

2. Executive Summary

3. Market Insights

                3.1 Industry Value Chain Analysis

                3.2 Industry Attractiveness – Porter’s Five Forces Analysis

                                3.2.1 Bargaining Power of Suppliers

                                3.2.2 Bargaining Power of Buyers

                                3.2.3 Threat of New Entrants

                                3.2.4 Threat of Substitute Products and Services

                                3.2.5 Degree of Competition

4. Market Dynamics

                4.1 Drivers

                                4.1.1 Stringent Environmental Regulations to Control VOC Emissions

                                4.1.2 Increasing Demand for Building & Construction

                                4.1.3 Growth in Automotive Production in Asia-Pacific & Europe

                4.2 Restraints

                                4.2.1 Longer Curing Time

                                4.2.2 Other Restraints

                4.3 Opportunities

                                4.3.1 Development of Bio-based Products

                                4.3.2 Increasing Government Support due to VOC emissions

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)

                5.1 By Resin Type

                                5.1.1 Architectural Coating Resins

                                       Vinyl Acetate

                                       Pure Acrylics


                                       Styrene Acrylics


                                5.1.2 Other Resins

                                       Acrylic based

                                       Epoxy Based

                                       Vinyl Ester



                5.2 By End-user Industry

                                5.2.1 Architectural & Decorative

                                5.2.2 Automotive

                                5.2.3 Industrial

                                5.2.4 Wood

                                5.2.5 Others (Packaging & Transportation)

6. Regional Market Analysis (Market Size, Growth, and Forecast)

                6.1 Asia-Pacific

                                6.1.1 China

                                6.1.2 India

                                6.1.3 Japan

                                6.1.4 South Korea

                                6.1.5 ASEAN Countries

                                6.1.6 Rest of Asia-Pacific

                6.2 North America

                                6.2.1 United States

                                6.2.2 Canada

                                6.2.3 Mexico

                                6.2.4 Rest of North America

                6.3 Europe

                                6.3.1 Germany

                                6.3.2 United Kingdom

                                6.3.3 Italy

                                6.3.4 France

                                6.3.5 Spain

                                6.3.6 Rest of Europe

                6.4 South America

                                6.4.1 Brazil

                                6.4.2 Argentina

                                6.4.3 Rest of South America

                6.5 Middle East & Africa

                                6.5.1 Saudi Arabia

                                6.5.2 South Africa

                                6.5.3 Rest of Middle East & Africa

7. Future of the Market

8. Competitive Landscape

                8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements

                8.2 Market Share Analysis**

                8.3 Strategies Adopted by Leading Players

9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)

                9.1 AkzoNobel

                9.2 Arkema SA

                9.3 Asian Paints Limited

                9.4 Axalta Coating Systems

                9.5 BASF SE 

                9.6 Benjamin Moore & Co

                9.7 Berger Paints India Limited

                9.8 DowDuPont

                9.9 Hempel

                9.10 Jotun

                9.11 Kansai Paint Co., Ltd.

                9.12 KCC Corporation

                9.13 Masco Corporation

                9.14 Nippon Paint Holdings Co., Ltd.

                9.15 PPG Industries

                9.16 RPM International Inc.

                9.17 Shawcor

                9.18 The Sherwin-Williams Company

                9.19 Sika

                9.20 Tikkurila

                *List not exhaustive

10. Disclaimer

**Subject to Availability on Public Domain

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