Global Waterborne Acrylic Coating Market - by Application (construction material, architectural wood, automotive OEM, metal packaging, automotive aftermarket, protective coatings and others), by End Use (building & construction, automotive, woodworking, packaging, general industry, and others), and by Region - Forecast till 2023
Synopsis of Waterborne Acrylic Coating Market
Waterborne acrylic coatings use water as a solvent, which makes them eco-friendly and easy to apply to the substrate. They have an excellent adhesion and low toxicity & flammability and low VOC (Volatile Organic Compound) emission, act as an ideal primer, and possess good resistance to heat abrasion properties.
Due to its aforementioned properties, coating is commonly used across an array of industries, namely building & construction, automotive, woodworking, and packaging among others. The building & construction industry, which contributes largest in the architectural sector accounted largest market share of 68.40% in 2016.
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The segment is anticipated to dominate its presence during the forecast period due to its array of application in the household and industrial construction ranging from interior and exterior wall coating, roofing, decorative and others. The building & construction segment is followed by automotive industry, woodworking and packaging industry.
By application, waterborne acrylic coating as a construction material segment accounted largest market share and expected to grow at highest CAGR.
The construction material segment is followed by architectural wood segment, the segment accounted the share of 10.2% in 2016. The other segments like automotive (OEM), metal packaging, automotive (MRO), protective coatings are expected to grow at low CAGR due to strong competition from solvent borne coating in these applications.
According to the analysis, global waterborne acrylic coating market was valued at USD 41.67 billion in 2016, expanding at a CAGR of 5.77% to reach USD 61.31 billion by the end of 2023, due to growing among the building & construction industry.
Regionally, the global waterborne acrylic coating market is segmented into Asia Pacific, Europe, North America, Middle East, and Latin America. Asia Pacific is the leading region in the market that accounted for more than half of the consumption.
The regional market trend substantiating the growth of waterborne acrylic coatings includes, the huge infrastructural developments in the region that leads to a significant demand for waterborne acrylic coatings in the construction activities.
Asia-Pacific market for waterborne acrylic coatings is divided into China, Japan, and India among other Asian and Oceania countries.
Comparatively, China dominated the market for waterborne acrylic coatings over other countries in the region accounted 55.20% of the market share in 2016. A similar trend has been observed in other developing markets such as Latin America and Middle East & Africa due to boom in the architectural sector in the regions.
North America accounted second largest market share regionally, and expected to grow at CAGR of 5.5%. US is the leading country in North America accounted more than three fourth of the market share in 2016 due to growing non-residential construction activities in the region.
North America is followed by Europe accounted for 23.7% of the global market value share in 2016. Europe’s market is mainly driven by Germany, due to rising demand of low VOC and environmentally friendly coating in the country.
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The global waterborne acrylic coating market is segmented on the basis of application, end user and region. On the basis of application, waterborne acrylic coating market is segmented into construction material, architectural wood, automotive OEM, automotive aftermarket, metal packing, and protective coatings among others.
In terms of end user, the global waterborne acrylic coatings market is divided into building & construction, automotive, woodworking, packaging, and general industries among others. Based on regions, market is segmented into- North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
The key players operating in the global waterborne acrylic coatings market are The Dow Chemical Company, PPG Industries, BASF SE, DIC Corporation, DSM, Nippon Paints Limited and Axalta Coating Systems among others.
Geographic Analysis The report covers brief analysis of geographical region such as:
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
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Global waterborne acrylic coatings market is projected to grow at CAGR of 5.77% to reach USD 61.3 million by 2023 end. Asia Pacific accounted for the largest share in terms of value and volume owing to the rapid urbanization coupled with infrastructural developments in the region.
By application, the construction material is expected to grow at highest CAGR of 5.94% and accounted for the largest market share during the forecast period, followed by architectural wood segment. Similarly, building & construction accounted for the largest value share of 68.40% as an end use industry.
- Waterborne Acrylic Coating manufacturers
- Traders and distributors of Waterborne Acrylic Coatings
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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