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Waterborne Acrylic Coatings Market Analysis
The global waterborne acrylic coatings market is anticipated to touch USD 61.31 billion at a 5.77% CAGR between 2017-2023, states the latest Market Research Future (MRFR) report. Waterborne coatings, simply put, are finishes or surface coatings which use water as solvents for dispersing the resin. A waterborne coating is an excellent primer owing to its resistance to abrasion and heat. Water-based industrial coatings create strong adhesion, thus can be applied in thin or thick coats. It can be applied both on outer and inner surfaces. Waterborne coatings have extensive use in construction and can be applied both on the outer and inner surfaces alike.
Waterborne acrylic coatings release low volatile organic compounds (VOC) over other forms of solvent-borne coatings, thus reducing environmental impact. Along with environmental perks, these coatings offer excellent adhesion, low flammability, good resistance to abrasion and heat, and need less coating for covering a specific surface in comparison to solvent-borne coatings. Additives, surfactants, pigments, and synthetic resins are the main raw materials used to manufacture waterborne coatings. Water-based resin coatings are the most commonly used.
Various factors are propelling the waterborne acrylic coatings market growth. Such factors, according to the latest Market Research Future report, include the booming construction industry, recent shift in trend to solvent-free coatings, rapid urbanization, and increase in industrialization, especially in developing regions. Additional factors pushing the growth of the waterborne acrylic coatings market include rapid economic growth, especially in emerging countries, growing demand from the architectural and automotive sector, and increasing adoption of non-hazardous, eco-friendly, low VOC coatings.
On the contrary, the availability of cost-effective substitutes may hamper the waterborne acrylic coatings market growth during the forecast period.
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Waterborne Acrylic Coatings Market Segmentation
The Market Research Future report offers a complete segmental analysis of the waterborne acrylic coatings market based on end use and applications.
By applications, the waterborne acrylic coatings market is segmented into protective coatings, metal packing, automotive aftermarket, automotive OEM, architectural wood, construction material, and others. Of these, construction material will lead the market during the forecast period.
By end use industry, the waterborne acrylic coatings market is segmented into general industries, packaging, woodworking, automotive, building and construction, and others. Of these, building and construction segment will dominate the market during the forecast period for the growth in infrastructure activities and burgeoning demand for building and construction coatings.
Waterborne Acrylic Coatings Market Regional Analysis
By region, the waterborne acrylic coatings market report covers the latest trends and growth opportunities across the Middle East and Africa, Latin America, the Asia Pacific, Europe, and North America. Of these, the APAC region will lead the market during the forecast period. Various factors propelling the growth of the waterborne acrylic coatings market in the region include rapid urbanization, immense infrastructural developments, and penetration of these coatings in various industrial sectors, especially the automotive sector. The same trend has been observed in the MEA and Latin America as well.
The waterborne acrylic coatings market in Europe and North America will have favorable growth during the forecast period. Various factors propelling the growth of the waterborne acrylic coatings market in these regions include the regaining pace of the region’s construction industry, growing demand from the automotive industry, and stringent environmental regulations that are allied with the emission of the VOC.
Notable players profiled in the waterborne acrylic coatings market report include Axalta Coating Systems, Nippon Paints Limited, DSM, DIC Corporation, BASF SE, PPG Industries, The Dow Chemical Company, among others. Key players have incorporated specific strategies to stay head and shoulders above others in the competition and also cater to the growing customer needs such as partnerships, acquisitions, mergers, collaborations, product launch and innovation, research and development activities, and others.
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