MRFR Published Half Cooked Research Report on “Global Water-Based Coatings Market Research Report – Forecast to 2023”.
Nippon Paint Company Limited, PPG Industries Inc., Rpm International Inc., The Sherwin-Williams Company, asian paints, AkzoNobel N.V., Axalta Coating Systems, BASF SE, Berger Paints India Limited, Kansai Paint Co.,Ltd., The Valspar Corporation, Tikkurila Oyj, Chenyang Waterborne Paint, Jotun, and Sika AG among others are the prominent market players at the forefront of competition in the Global Water-Based Coatings Market and are profiled in MRFR Analysis.
Water-Based Coatings Market – Overview
Water-Based Coatings are widely used as they offer various advantages such as reduction of solvent emission into the atmosphere, superior elasticity, and short processing times. It is widely used in some of the end use industries such as paper & packaging, automotive, building & construction, marine, electronics, and others. The Water-Based Coatings Market is estimated to witness significant growth owing to their unique properties coupled with excellent usage in various end use industries specifically in packaging, automotive, and construction. Among the end use industries segment, in 2016, building & construction holds for the largest end use industries segment and is projected to retain their dominance on account of expanding building & construction activities in emerging economies. The factors attributed to the Water-Based Coatings Market growth are significant growth of automotive industry in developing countries, growing automotive production and sales, and expanding construction sector. Moreover, stringent regulations regarding the volatile emission compounds (VOCs) in developed countries is likely to propel the growth of the market during the forecast period.
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Geographically, Asia Pacific is estimated to hold the largest Water-Based Coatings Market share in 2016 which is followed by North America and further trailed by Europe. North American Water-Based Coatings Market is predicted to exhibit healthy growth over the forecast period on account of growing awareness regarding the benefits associated with product along with raised consumption in end use application in this region. Asia Pacific is anticipated to witness tremendous growth during the review period in Water-Based Coatings Market owing to increasing application of Water-Based Coatings in various end use application segment. In Asia Pacific, the demand for Water-Based Coatings is expected to enhance in numerous countries such as Indonesia, the Philippines, Taiwan, Japan, South Korea, India, and China due to growing population coupled with shifting of production units for most of the key manufacturers in this region. In Europe, Water-Based Coatings Market is estimated to register above average growth on account of shifting consumer preference towards the Water-Based Coatings coupled with high adoption rate in automotive, electronics, packaging, and construction specifically in Germany, Poland, France, Italy, Belgium, Spain, UK, and Russia.
Industry/ Innovation/ Related News:
August 2018- The Lubrizol Corporation announced to launch new dispersant Solsperse W200. Solsperse W200 is designed to offer rapid dispersion of organic pigments and high-performance carbon blacks into water-based coatings systems. This product launch will help company to extend its product portfolio.
June 2018- Asian Paints announced to invest around USD 610 million at its Mysuru and Visakhapatnam facilities by adding around 1.1 million kilo litre to its present output. The company will increase its water- based paints production capacity to its plants situated in Mysuru and Visakhapatnam. This capacity expansion will strengthen company’s position among the water-based paints manufacturers.
April 2017- Flint Group increased the manufacturing capacity of water-based coatings at its plant located in Willstaett, Germany. This capacity expansion will help company to expand its range of specialty coatings with numerous new formulations.
February 2017- Cascades Sonoco, a joint venture between Sonocco and Cascades announced to invest around USD 16 million in its Alabama based manufacturing plant to develop water-based alternatives to coatings. The capacity expansion will be capable of producing 40,000-50,000 tons of sustainable coated materials annually.
The Water-Based Coatings Report has examined the level of competition amid the major manufacturers in Water-Based Coatings Market as well as industry growth and market scenario. The Global Water-Based Coatings Market consists broad range of producers operating in the market which involves medium level and large-scale suppliers. Some of the main operating manufacturers of water-based coatings which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high-level suppliers belongs to this province specifically from Japan, Australia, China, South Korea, the Philippines, Malaysia, Taiwan, India, and Thailand. Additionally, the key manufacturers of Water-Based Coatings are observed to follow various strategic plans to enhance their product portfolio such as product launches, strategic acquisition, distribution agreements, joint ventures, and mergers, and exclusive agreements. Some of the key operating players in this market are predicted to enhance their manufacturing capacity of Water-Based Coatings to meet the increasing demand for Water-Based Coatings across the globe.
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