LONDON–(BUSINESS WIRE)–#AgriculturalChemicals–The waterborne coatings market size is poised to grow by USD 18.91 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Waterborne coatings are extensively used in metallurgy and metal forming, oil and gas, automobiles, buildings and construction, marine applications, aerospace, and medical and healthcare. These coatings function as primers due to their excellent resistance to heat and abrasion, along with providing superior adhesion. Waterborne coatings are less toxic and flammable because of their low VOC and hazardous air pollutants (HAP) emissions. As a result, the demand for waterborne coatings is expected to increase substantially during the forecast period.
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As per Technavio, the growing popularity of nanocoatings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Waterborne Coatings Market: Growing Popularity of Nanocoatings
With a large number of companies striving to develop differentiated products, the industry is witnessing several innovations in terms of technologies. One such technology innovation is the development of waterborne nanocoatings. The growing popularity of waterborne nanocoatings can be attributed to its cost-effectiveness and durability than other coatings. Halo Matrix-Nano offered by Halo Surfaces is one of the examples of nanocoatings. Thus, the growing popularity of nanocoatings is one of the major trends being witnessed in the global waterborne coatings market.
“Major vendors operating in the market are increasing their R&D expenditure to improve their product portfolios. For instance, PPG industries has been investing heavily in China and other emerging economies by setting up new production facilities and increasing its workforce. These efforts are likely to boost the growth of the global waterborne coatings market,” says a senior analyst at Technavio.
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Waterborne Coatings Market: Segmentation Analysis
This market research report segments the waterborne coatings market by product (water soluble paints, emulsion latex coatings, and water-based alkyd coatings), by end-user (architecture industry, automotive industry, general industry, wood industry and others), and by region (Americas, EMEA, and APAC).
The APAC region held the largest share of the market in 2018, followed by EMEA and APAC respectively. The APAC region will continue to dominate the global market with the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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