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Global water-based coatings consumption will exceed 32 million tons in 2020, the prospect is promising

 Last Update: 2021-07-18
 Source: Internet
 Author: User

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Global Coatings Network News: The demand for water-based coatings around the world continues to grow, most of which are driven by environmental protection policies.

According to data obtained by Grand View Research (GVR), the total market for water-based coating systems in 2014 was 20.

Consumption is expected to exceed 32 million tons by 2020

Given that market researchers’ forecasts consistently indicate further growth, the market outlook for water-based coatings looks good.

Water-based architectural decoration coatings dominate

Nearly 54 billion euros of water-based coatings account for more than 40% of the paint and coatings market, and it is currently estimated to exceed 126 billion euros.

It can also be seen from this data that the water-based architectural decoration coatings have been basically completed.

Low usage rate in industrial coatings

However, in the field of industrial coatings, the share of water-based coatings is much lower than that of architectural decorative coatings.

GVR sees automotive OEM coatings as another growth area.

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