A coating is a layer applied on the surface of an application, usually referred to as the substrate. The coating may cover complete substrate, or any part of that substrate. Waterborne coatings are coatings that use water as a solvent to disperse a resin. These coatings are considered eco-friendly, and can be applied easily on the substrate. These coatings contain up to 80% water, with the remainder accounted for by other solvents such as glycol ether. These coatings are considered to be environment-friendly as U.S. and European regulations require waterborne coatings to have a VOC content of less than 3.5 pounds per gallon of water. The key properties of waterborne coatings include low VOC, very low odor, and non-flammability. Waterborne coatings dry at a very fast rate and can be re-coated as well.
Waterborne coatings are used in a myriad number of applications, as they are perfect primers due to their good resistance to heat and abrasion; provide excellent adhesion; have low toxicity and flammability due to low VOC levels and HAP emissions; and are used in relatively small quantities as they cover large surface areas as compared to equal quantity of solvent-borne coatings. In most cases, these coatings cost less than solvent-borne coatings and require no additives, thinners, or hardeners.
Waterborne coatings such as acrylic coatings, polyester coatings, polyurethane coatings, alkyd coatings, and epoxies are used in a wide spectrum of applications such as architectural, marine, protective, and automotive.
Waterborne Coatings Materials Market Taxonomy
On the basis of resin type, the global Waterborne Coatings market is segmented into:
On the basis of application, the global Waterborne Coatings market is segmented into:
Acrylic-based waterborne coatings is the fastest-growing resin type. This is due to increasing demand for these resins in architectural and automotive applications. There is a large demand for architectural coatings in Asia Pacific, South America, and Middle East & Africa regions due to the growing urbanization and increasing infrastructure developments in commercial, residential, and industrial sectors in these regions. The low interest housing loans in Asia Pacific region, is the key driving force for growth in demand for architectural coatings.
Waterborne Coatings Market Outlook – Asia Pacific is the largest, and fastest-growing region in waterborne coatings market
Asia-Pacific is the largest, and fastest-growing region in the global waterborne coatings market. The growing construction and automotive end-use industries is the major driving factor for growth of the waterborne coatings market in the region, with India and China being the key growth engines. As per stats released by Indian Brand Equity Foundation—part of the Department of Commerce, Ministry of Commerce and Industry, Government of India—the real estate market is expected to be valued at US$ 180 billion by 2020. The automotive sector in the India has attracted FDI worth US$ 15.79 billion during April 2000–September 2016, as per statistics released by Department of Industrial Policy and Promotion (DIPP). This, along with rapid economic growth in the region creates a highly conducive environment for market growth.. The growth in the sales of automobiles, and increasing use of waterborne coatings in automobiles due to their ability to protect the vehicles against UV radiation, and bad weather is also adding up to the growth of these coatings in the region.
The fluctuating raw materials prices of different pigments, additives, resins is the main restraining factor for this market growth. The lack of awareness on the uses and benefits of waterborne coatings is the major challenge which is need to be focused in this market.
Some of the major players operating in the global Waterborne Coatings materials market are BASF SE, AkzoNobel N.V., Axalata Coating System LLC, PPG Industries, The Valspar Corporation, Sherwin-Williams Company, Nippon Paints Co. Ltd., Kansai Paint Co. Ltd., Tikkurila OYJ, and Berger Paints India Ltd.
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