The 2022 global size for waterborne coatings market reached USD 81.85 billion and is projected to attain USD 141.85 billion by 2032, demonstrating a compound annual growth rate (CAGR) of 6.3% throughout the forecast period. This growth in market revenue can be attributed to the expanding global construction sector and the growing demand for environmentally sustainable coating solutions. Aqueous coatings are gaining popularity due to stringent environmental regulations, as they emit fewer Volatile Organic Compounds (VOCs) compared to solvent-based alternatives.
The construction industry stands out as a primary consumer of waterborne coatings, witnessing a global increase in demand for coatings that are both eco-friendly and low in emissions. The necessity for waterborne coatings is expected to surge in tandem with infrastructure development in emerging economies. Notably, initiatives by governments and investments from the private sector are contributing significantly to the substantial rise in infrastructure development in the Asia Pacific region.
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Different businesses in the chemicals and materials industries differ in size, geography, business style, and end-market focus. These businesses are part of a larger ecosystem that includes oil, gas, coal, minerals, and bio-based products as raw materials on one hand and a wide range of application industries on the other. It is traditional to divide the chemical industry into three major categories: petrochemicals, diversified manufacturers, and specialized industries.
While the wider patterns discussed in the previous section apply to the entire sector, the complexities of the distinctions among the various players indicate the need to analyze trends by segment of the industry. As part of its multiverse series, Deloitte classified chemical sector stakeholders into three groups: natural owners, distinctive commodities, and solution providers. Each of these groups usually has its own strategic imperatives. It is common for vertically integrated natural owners to prioritize continuous improvement over innovation when operating their businesses. By focusing on supply chain efficiency, market innovation, and cost optimization, differentiated commodities flourish in a highly fragmented and complex industry. This is exactly what solution providers do: they focus on maximizing the value of their unique products as well as their application expertise and services.
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Moreover, the report provides insight into how the Waterborne Coating market will develop between 2023 and 2032. Companies operating in the Waterborne Coating market can benefit from the in-depth dynamics presented in the report, thereby making strategic development decisions that will help them succeed. During the forecast period, the Waterborne Coating market is expected to undergo significant changes that will highly configure its growth.
Furthermore, the report highlights the growth prospects of the Waterborne Coating market and estimates market progress in terms of value (USD million) and volume (thousand units).
- PPG Industries, Inc.
- BASF SE
- Akzo Nobel N.V.
- Sherwin-Williams Company
- Asian Paints Limited
- Nippon Paint Holdings Co., Ltd.
- Axalta Coating Systems, LLC
- Kansai Paint Co., Ltd.
- Tikkurila Oyj
- Arkema SA
Resin Type Outlook:
- General Industrial
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Research Methodology: Waterborne Coating Market
The research methodology adopted by analysts to compile the Waterborne Coating market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Waterborne Coating market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Waterborne Coating market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Waterborne Coating market.
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