Waterborne coatings are formulated in order to contain required amount of water in the volatile. Product types of waterborne coatings include Acrylic, Polyurethane (PU), Alkyd, Epoxy, Polyester, Polytetrafluoroethylene (PTFE), Others (polyvinylidene chloride (PVDC), polyvinylidene floride (PVDF), etc.
Growing urbanization resulting in increasing demand for waterborne coating by residential, commercial, and industrial sectors is a major factor driving growth of the global waterborne coating market. In addition, properties such as excellent appearance, high durability for chemicals, dirt, and low VOC and less hazardous air pollutants (HAP) emissions that reduces toxicity is other factor expected to boost growth of the global waterborne coating market.
However, failure in high temperature and humidity is expected to challenge growth of the global waterborne coating market. Key trend observed in the market is shifting preference towards use of environmental friendly products that are less harmful to environment is expected to support the growth of the market.
The global waterborne coating market is segmented on the basis of product type, application, and region. On the basis of region, the global waterborne coating market is segmented in to North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Development such as introduction of new manufacturing process which consists of emulsification of an epoxy resin for can-coating is expected to create new opportunities for manufacturers operating in the global waterborne coating market in the next five years
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Asia Pacific market is expected to witness significant growth in terms of consumption this can be attributed to increasing industrial, and agriculture activities in emerging economies. Increasing demand from automotive sector due to presence of major automotive company is expected to boost the target market.
Key players operating in the global market include RPM International Inc., The Valspar Corporation, Tikkurila Oyj, Akzo Nobel N.V., Berger Paints India Limited, BASF SE, PPG Industries, Inc., Axalta Coatings Systems LLC, Kansai Paint Co., Ltd., and Nippon Paint Holdings Co., Ltd.