Water-based coating binders are the film forming elements of a coating. Coating binders are also known as resins. These are polymers, which form a matrix for holding the pigments in place. The water-based coating binders are capable of providing adhesion to substrates and thus, bind the pigments and extenders together. It has excellent properties such as durability, flexibility, and gloss.
The water-based coating binders market is expected to witness significant growth over the forecast period, owing to the inclination of industries towards environmental compliance. The governments of various countries across the globe are aiming at regulating the volatile organic compounds by limiting the amount companies are allowed to emit in a particular time period. With such increasing regulations, the companies are using water-based coating technology to lower VOC output, as it has no or considerably fewer solvents. Also, there has been a rapid increase in demand for structural steel, which resulted in development of water-based intumescent coatings, which can react under the influence of fire. The water-based coating binders are also low-cost and have self-charring capacity, which is further increasing its use across several end-use industries. However, the growth of this market is expected to be restrained by the existing use of solvent-based coating binders by the end-use industries.
Among product type, the acrylics segment is expected to hold a dominant position in the global water-based coating binders market, owing to its superior properties in terms of safe and easy handling, faster set-up and application, and lower VOC emissions. The water-based acrylic coating binders are suitable for a wide range of applications ranging from direct-to-metal (DTM) applications, early block resistance for wood furniture to a high-gloss finish for concrete flooring.
On the basis of region, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Among regions, Asia Pacific region is expected to witness significant growth over the forecast period, owing to the upsurge in FDI investment in automotive and construction industries in emerging economies of Asia Pacific region. The growth of the market is also driven by several factors such as the rapid increase in construction activities, and increasing number of automobiles. Furthermore, the rapid increase in demand for automotive coatings in emerging economies such as China, Japan, and South Korea would lead to increased demand for water-based coating binders, thereby driving the market growth.
Key players operating in the global water-based coating binders market include Arkema S.A., Allnex Netherlands B.V., BASF SE, Covestro, Dow DuPont, Evonik Industries AG, Huntsman International LLC, Polynt-Reichhold, Royal DSM N.V., and The Sherwin Williams Company among others.
On the basis of product type, the global water-based coating binders market is segmented into:
On the basis of nature, the global water-based coating binders market is segmented into:
On the basis of application, the global water-based coating binders market is segmented into:
- Architectural Coatings
- Marine & Protective Coatings
- General Industrial Coatings
- Automotive Coatings
- Wood Coatings
- Packaging Coatings
- Others (including Marine and Special Purpose)
On the basis of region, the global water-based coating binders market is segmented into:
- North America
- South America
- Rest of South America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa