The global water-soluble coatings market size is likely to grow at a staggering rate during the forecast period. Water-soluble coatings are also known as dispersion coatings, and are utilized to coat and paint the surfaces of automobile parts, furniture, and buildings. The product is used by several end-use industries; automotive, construction, furniture, electronics, etc. The rising product demand for application in the end-use sectors is expected to bolster market growth in the forthcoming years. Fortune Business Insights™ has presented this information in an upcoming report titled, “Water-Soluble Coatings Market, 2022-2029”.

According to the report, the market is gaining immense popularity due to several reasons. The automotive sector is a prominent demand claimer of water-soluble coatings. It is used to paint and coat automobile parts. The constantly expanding automotive industry is expected to augment market growth significantly.

COVID-19 Impact-

The pandemic has stagnated the growth of the market. The lockdowns and curfews have resulted in a low available workforce and low production levels. Businesses operating in the market have been affected severely by the disruptions in global supply chain networks. Low sales of automobiles, restrictions on air travel, and reduced construction activities have diminished the demand and sales of the product. However, vaccines are now available to the masses, and economies are gradually returning to pre-pandemic levels. The market is anticipated to witness strong growth post-pandemic.

Report Coverage-

  • The report provides an in-depth assessment of the prospected market.
  • The report analyzes historical data and presents opportunities for future growth.
  • The report incorporates PESTLE Analysis and Porters’ Five Forces Analysis.
  • The report highlights valuable insights into the regulatory scenarios of the market.
  • The report presents information on key emerging trends and the latest market developments.

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Segmentation-

On the basis of type, the market segments into fluoropolymers, epoxy, alkyds, polyurethane, formaldehyde, etc. On the basis of application, the market fragments into paper and printing, automotive, electronics, building & construction, furniture, marine, and aerospace. Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Drivers & Restraints-

Escalating Product Application in Construction Industry to be Major Growth Driver

Water-soluble coatings offer several benefits such as easy application, abrasion & heat resistance, eco-friendliness, etc. These factors make the product a superior alternative to solvent-based coatings and fuel its demand for application in buildings & construction, furniture, and the automotive industry. The product is also utilized in waterproofing, crack filling, screed compounds, and plastic additives. The rapid urbanization and growing global population are fueling the construction and renovation activities all around the globe. Hence, the escalating demand from the construction and building industry is likely to fuel market growth.

The product finds its application in the automotive industry for coating and painting automobile parts. The increasing per capita income is driving automobile sales. Hence, the expanding automobile sectors are likely to drive the global water-soluble coatings market growth.

Additionally, the innovations and advancements in coatings and paints are expected to create lucrative growth opportunities in the upcoming years.

However, the high costs of these coatings are expected to hinder the market growth.

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Industry Developments-

  • June 2021: Allnex has launched its new polyurethane dispersion for the automotive OEM and vehicles refinish coating markets. The product ‘DAOTAN 7061/35WA’ is considered the company’s most versatile polyurethane dispersion.

Regional Insights-

Asia Pacific to Gain the Highest Share in Global Market

Asia Pacific is expected to witness the highest growth in the global water-soluble coatings market share. The rapid urbanization and industrialization in countries like India, China, Japan, etc., are fueling the construction and infrastructural development projects. The escalating product demand for application in these projects is expected to bolster market growth in Asia Pacific.

With Germany and the UK as the leading countries, Europe is likely to witness considerable growth during the forecast period. The escalating utilization of epoxy-based dispersion coatings for application in furniture and electronics is anticipated to propel market growth.

The increasing application of polyurethane-based dispersion coatings in aerospace and automotive industries is anticipated to help North America witness strong growth in the forthcoming years.

The Middle East & Africa, and Latin America are anticipated to witness significant growth due to increasing product adoption for application in the marine industry.

Competitive Landscape-

Key Players Focus on New Product Launches & Expansions to Grow Strategically

The market is fairly consolidated and consists of several key players operating at global and regional levels. These players emphasize new product launches, technological advancements, research and development activities, etc., to solidify their market rankings. They are also strategically collaborating, forming partnerships, etc., to enhance their market presence. For instance, in March 2021, BASF set up a new production line to double its acrylic dispersions capacity in PasirGudang, Malaysia.

Key Players in the Global Water-Soluble Coatings Market are:

  • AkzoNobel N.V.
  • Axalta Coating Systems
  • BASF SE
  • Berger Paints India Limited
  • Kansai Paint Co. Ltd.
  • Nippon Paint Company Limited
  • PPG Industries Inc.
  • Rpm International Inc.
  • The Sherwin-Williams Company
  • Asian Paints
  • The Valaspar Corporation
  • TikkurilaOyj
  • Chenyang Waterborne Paint
  • Jotun
  • Sika AG

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