Global Coatings Network News:
Global Coatings Network News:
According to a latest research report, the global water-based coatings market demand is about 22 million tons in 2015, and it is expected to reach 32.
71 million tons by 2022.
The total market value is expected to reach 146.
1 billion US dollars.
The average annual growth rate over the six years is expected to be 6 %.
Analysis of the main reasons for growth:
Driving for construction and automotive applications
(1) The driving force of the construction industry is the main reason for the growth of water-based coatings
This part of the application accounts for 86.
5% of the total market.
In the next six years, new and renovated construction projects in the Asia-Pacific and Middle East regions will become the main driving force for the growth of the water-based coatings market, because water-based coatings are widely used in indoor and outdoor applications, doors, decorative materials, and exterior wall coatings.
(2) The growth of the automotive industry drives the demand for water-based coatings
In addition, the continuous growth of automobile production in China, India, Thailand, Indonesia and Mexico has also promoted the demand for water-based coatings.
Automobile OEM is the fastest growing field, and the growth rate is expected to reach 8.
1% from 2016 to 2022.
Driven by local VOC emission policies
The increasingly stringent regulations on the VOC emission of solvent-based coatings by local government departments will also promote the growth of the water-based coatings market, especially the increasingly stringent VOC emission policies in China.
Analysis of the proportion of water-based resin
Waterborne acrylic resin is the fastest growing mainstream waterborne polyurethane
Acrylic resin is the main resin used in water-based coatings, accounting for more than 80% of the total market in 2015.
Because of its good weather resistance and low cost, it is widely used in infrastructure and automotive industries.
Waterborne polyurethane is expected to become the fastest growing resin variety, with an annual growth rate of 7.
5% from 2016 to 2022.
The main reason for its growth is its better performance than other resins.
Regional analysis of water-based coatings application
Europe is the largest regional market for water-based coatings
In 2015, European water-based coatings accounted for nearly 40% of global usage.
It is foreseeable that strict environmental regulations restricting solvent-based coatings will further promote the demand for water-based coatings in this area.
The fastest growth in the Asia-Pacific region
The water-based coatings market in the Asia-Pacific region is expected to achieve the fastest growth of 7.
9% between 2016 and 2022.
The main factor driving the growth of demand in the region is the increase in infrastructure projects in India, China and Indonesia.
The Asia-Pacific region is expected to replace Europe as the largest regional market for water-based coatings in 2022.
Future Trend: Integration of Waterborne Coatings Market
It is expected that large multinational companies will moderately integrate the water-based coatings market in the future.
These large multinational companies include BASF, Berger Paint, Kansai Paint, Axalta Coating Systems, Nippon Paint, RPM International, PPG, Akzo Nobel, Valspar, Sherwin-William, Tikkurila, etc.
(Source: Global Coatings Network) (For more information, please log in: Global Coatings Network http:// )