Water-based formulations are among the top trends in the coatings industry. How is the situation at the market currently? We have gathered five facts.
The global water-borne coatings market size was about EUR 62.4 billion in 2017 and is projected to reach about EUR 82.7 billion by 2022, at a CAGR 5.7% in terms of value.
The market by regions
Asia Pacific has been a bright spot in the global water-borne coatings market in the backdrop of the overall slowdown in global economic development.
Architectural coatings biggest segment
Architectural is the largest application of water-borne coatings. Rapid urbanisation, rising disposable income, and growing GDP in Asia Pacific resulted into increased demand for residential, commercial, and industrial infrastructure followed by renovation/re-paint of residential and commercial buildings.
Forecasts for the coming years remain positive, driven in particular by rising demand for environmentally friendly technologies.
What are the most important resins?
There has been a shift toward water-borne acrylics, especially in the automotive basecoats due to environmental concerns.