Global Waterborne Coatings Market size was valued at US $ 102.97 billion in 2023 and is expected to reach US $ 144.04 billion by 2032 growing at a CAGR of 3.8% during the forecast period 2024 – 2032.

The north America industry is set to reach around USD 42 billion by the year ending in 32, while Asia Pacific currently commands a revenue share of about 40.5 %, which is the sector's largest so far.

Waterborne Coatings find applications in building coatings such as windows, walls, doors and floors among others. Governments are taking action to promote building & construction. For example, Kansai International Airport in Japan plans to spend some 100 billion yen ($91 million) by 2025 improving its larger terminal. At the country's No. 2 hub. To help deal with the growing volume of air traffic, in February 2020's Indian Union Budget as part of its Udan initiatives a plan was announced to build up 100 new airports by year end. In South Africa (2020- 31), the national health insurance indirect grant, allocated R4.6 billion for revitalizing health facilities in the medium term ($). India's Ministry of Housing and Urban Development (MoHUA) has been allocated Rs 50,00 crore by the government while a fund to help complete stalled housing projects worth Rs 25,391 crores is also available. These government initiatives are likely to boost the demand for coatings in construction, and thus further stimulate growth of Waterborne Coatings Market over the forecast period.

The Waterborne Coatings Market Trend Analysis

Waterborne Coatings are widely used in the automobile and aerospace industry to spray-paint & coat automotive and aerospace components, which must withstand corrosive environments or impact forces. Based on data published by the International Organization of Motor Vehicles Manufacturers (OICA), global production of passenger cars rose from 55,834,126 units in 2020 to 57 million fewer than a year later. South America car production grew by 11 % according to the European Automobile Manufacturer Association in 2021; US car production grew by 3. Thus, increased automotive and aerospace production would necessitate more Waterborne Coatings for making parts used in cars and aircraft. This dynamic will be an important factor stimulating the growth of the water-based coatings market over the course of this period.

Segmentation Analysis of the Waterborne Coatings Market

By Resin

The acrylic segment had a notable share in the Waterborne Coatings Market pie and is expected to grow at 6.1 % CAGR from 202 Features such as superior color and gloss retention, excellent exterior durability in outdoor exposure combined with growing product needs of the infrastructure and automotive industries are likely to cause this demand for acrylic coatings to grow. Their advantages are simplicity of use, characteristics and affordability. With their high pot life, resistance to fungus and excellent moisture-resistance these all perform better than the average. The two advantages of acrylic resin are first, its durability; and secondly, it can cut monthly energy bills. As a result, all these factors would stimulate demand for acrylic resins during the forecast period.

By Application

Thus, in 2017 construction and building accounted for largest share of the Waterborne Coatings Market segment. The protective qualities of the paints and coatings make them applied to interior walls as well as exterior ones in all types of residential, commercial industrial or institutional buildings. Paints and coatings prevent the building from extremes of weather: rain, sun and wind. Water-based coatings are also applied to interior architectural elements, including wall paintings and wood flooring as well as sculptures and furniture. As environmental concerns grow, the demand for waterborne coatings is also increasing in buildings. Thus, it is expected that all these fast-growing paint and coating applications in the construction segment will lead to a boom period for Waterborne Coatings Market over coming years.

Regional Analysis of the Waterborne Coatings Market

Asia Pacific accounted for the largest share of Global Waterborne Coatings Market in 2021. Demand is rising as major automakers are relocating production to countries in the Asia Pacific region, such as China and India. Taking advantage of the low labour costs and government tax incentives, new industries in the region are expected to fuel this economic boom. The rapid growth of the automobile and furniture industries has gone with huge investment, most of which is to blame for economic expansion. Based on the current and potential production of waterborne coatings, it is also one area where population growth is most rapid.

During the forecast period, Asia Pacific is also expected to experience the fastest growth. This region contains economies of different levels and in all kinds of industries. Economic development is basically due to high growth rates and huge investments in the automobile, consumer goods & appliances, building & construction. Most of the world's top market players for waterborne coatings are already well established in the Asia Pacific region, seeking to expand organically by means such as joint ventures and licensing agreements.

• The world knows China for its architecture boom. In recent years, this has been growing due to the need for low-cost housing and commercial housing.
• Riding the wave of increased government investment, China's real estate sector has been growing rapidly. New construction is expected to have a positive impact on the paints & coatings industry in the country.
• In the recent past, investments in the transportation sector increased. However, China ’ s government spent some US $ 72billion on building transportation projects including railways, highways and water ways; airports all over the country as well.
• The investment plan proposes to strengthen links between the big cities of China. This is a very important factor in not only economic development, but also social and cultural life throughout this region.
• Production of commercial vehicles and cars falls in the automotive industry, too. But now that electric vehicles are coming into vogue, the demand for waterborne coatings is bound to increase.
• The above factors are likely to stimulate demand for waterborne coatings over the outlook period.

COVID-19 Impact Analysis on Waterborne Coatings Market.

The waterborne coatings market fell with the onset of COVID-19. On the global front, lockdowns were declared across many nations and there was a huge change in industrial activity. In 2020, the shuttering of many manufacturing plants and slowdown in construction caused a sudden decrease in demand for waterborne coatings. In the throes of pandemic, lack of raw materials; restrictions on outdoor activity cut so severely as to make it even harder for waterborne coatings companies to run their own businesses. During the post-pandemic era, once the world has returned to normal and construction activity resumes at a rapid pace, we expect that waterborne coatings will realize good growth potential.

As for the complete research study, it examines both qualitative and quantitative aspects of the Waterborne coatings market. Both the demand and supply sides of the market have been looked into. The demand side study looks at the distribution of market income prior to comparing it with all major countries. The supply side research covers the industry's top six rivals and their regional/global presence, competitive edge, strengths. An in-depth analysis is made of each major country in North America, Europe, Asia Pacific, the Middle East and Africa. Latin

Top Key Players Covered

1. AkzoNobel NV
2. BASF SE
3. Axalta Coating Systems LLC
4. Berger Paints India Ltd.
5. Kansai Paint Co.,
6. Nippon Paint Holdings Company Ltd.
7. PPG Industries Inc.
8. RPM International Inc.
9. The Sherwin-Williams Company
10. The Valspar Corp.
11. Tikkurila Oyj

Key Industry Developments in the Waterborne Coatings Market

• In September, 2023, BASF SE announced an increase in production capacity of waterborne coatings at its Shanghai plant. This should enable the company to meet growing demand in Asia Pacific for waterborne coatings.
• PPG Industries, Inc. announced in August 2023 a strategic collaboration with one of China's biggest automakers to create a novel waterborne coating for application on car parts. According to the makers, it is also as light and fuel-efficient as traditional solvent borne coatings.