By 2030, Demand for Waterborne Coatings Market Will Surpass $132.7 Billion at 4.1% CAGR Growth

Jul 26, 2023

WASHINGTON, Aug. 28, 2023 (GLOBE NEWSWIRE) -- According to a report recently released by Vantage Market Research, the Global Waterborne Coatings Market is projected to reach a value of $100.2 Billion in 2022. The report further estimates that the market will grow at a CAGR of 4.1% between 2023 and 2030, eventually reaching a value of $132.7 Billion by 2030. These figures demonstrate a promising growth trend for the waterborne coatings industry.

The Waterborne Coatings Market represents a vibrant and transformative sector within the broader coatings industry. Waterborne coatings are formulations that utilize water as a solvent, making them environmentally friendly and less harmful compared to traditional solvent-based coatings. These coatings find extensive application across diverse industries such as automotive, construction, packaging, and electronics, driven by the growing awareness of sustainability and stringent regulations on volatile organic compound (VOC) emissions. The market's growth trajectory is propelled by a combination of factors including technological advancements, urbanization, and the rising demand for eco-friendly products.

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Waterborne coatings are a type of paint or coating that uses water as the solvent instead of traditional organic solvents such as petroleum distillates. Waterborne coatings are typically more environmentally friendly than traditional solvent-based coatings, as they emit fewer volatile organic compounds (VOCs). They are also often easier to apply and clean up, making them a popular choice for both industrial and consumer applications.

Top Report Findings:

Top Companies in the Global Waterborne Coatings Market

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Market Dynamics:

The Waterborne Coatings Market is propelled by an array of factors that have reshaped the coatings industry landscape. The stringent environmental regulations aimed at reducing VOC emissions have catalyzed the shift towards waterborne coatings. The need for coatings that offer enhanced durability, corrosion resistance, and aesthetic appeal further fuels the market's expansion. Additionally, the surge in construction and infrastructure activities worldwide, coupled with the automotive sector's consistent growth, continues to bolster the demand for waterborne coatings.

Top Trends Shaping the Waterborne Coatings Market:

Global Waterborne Coatings Market Segmentation

By Resin Type

By Application

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Challenges

The upfront costs of waterborne coatings are higher than solvent-borne coatings. This can be a barrier to adoption, especially for small businesses.

Some of the raw materials used in waterborne coatings are not widely available, which can limit the growth of the market.

Waterborne coatings can be more difficult to apply than solvent-borne coatings, and they may not offer the same level of performance in some applications.

Governments around the world are increasingly regulating the use of waterborne coatings, which can add to the cost and complexity of bringing these products to market.

Opportunities

The growing demand for eco-friendly products is a major opportunity for the waterborne coatings market. Waterborne coatings are seen as a more sustainable alternative to solvent-borne coatings, and this is driving demand.

Technological advancements are constantly improving the performance and durability of waterborne coatings. This is making them more attractive to a wider range of users.

Waterborne coatings are finding new applications in a variety of industries, such as electronics, healthcare, and food packaging. This is expanding the market for waterborne coatings.

Emerging markets, such as China and India, are showing strong growth in the waterborne coatings market. This is due to the increasing demand for eco-friendly products and the growing popularity of waterborne coatings in the automotive and construction sectors.

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Recent Development

Key Questions Answered in the Report:

Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Waterborne Coatings Market Forecast Report (2023-2030).

Scope of the Report:

Regional Analysis:

The North American Waterborne Coatings Market demonstrates robust growth owing to stringent environmental regulations, heightened awareness of sustainability, and consistent advancements in technology. The United States and Canada, being frontrunners in adopting eco-friendly solutions, contribute significantly to the regional market share. With growing investments in infrastructure, the construction industry's demand for waterborne coatings is on the rise, while the automotive sector's focus on reducing VOC emissions further propels the market's expansion.

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