Waterborne Coating Market size was over USD 114.17 billion in 2024 and is set to cross USD 245.74 billion by the end of 2037, witnessing more than 6.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of waterborne coating is estimated at USD 119.74 billion.
With rapid industrialization and urbanization across the world, increasing construction activities are expected to give rise to the demand for waterborne coatings within the estimated period. There is a 12% increase in total construction activities across 2021 compared to 2020 across the globe, reported by the statistics.
Waterborne coatings are expected to grow in demand from automotive production. An operator working for OEM and refinishing company for automobiles is expected to follow regulations and move from a solvent-based coating system to a water-based coating system. A typical waterborne coating contains approximately 70% water, 20% solids, and 10% solvent. Water-based paints for automotive applications contain fewer VOCs, which reduces health-related risks.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.2% |
|
Base Year Market Size (2024) |
USD 114.17 billion |
|
Forecast Year Market Size (2037) |
USD 245.74 billion |
|
Regional Synopsis |
|
End User (Construction, Automotive, Industrial Wood)
The construction segment is set to hold around 42% share of the global waterborne coating market by the end of 2037. Waterborne coatings make up the majority of all architectural coatings and are expected to grow significantly over the next 7-10 years due to tightening regulations on VOC emissions. Rising construction spending driven by rising income levels in emerging markets in Asia-Pacific, Latin America, and the Middle East is expected to drive the growth of the segment over the next seven years. A World Bank report predicts that emerging markets accounted for 56% of global construction spending by 2022.
Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC)
The acrylic segment in the waterborne coating market is estimated to experience the highest revenue between 2025 – 2037. The growth of the segment can be propelled by the growing application of this segment in radiation curing and electrodeposition the demand for acrylic resin-based coating is estimated to grow substantially in the future. Owing to its properties such as toughness, resistance to abrasion, and also harsh weather, and chemical resistance the acrylic resin segment is high in demand and widely used.
Our in-depth analysis of the global market includes the following segments:
|
Resin Type |
|
|
End User Industry |
|
APAC Market Analysis
The waterborne coating market in the Asia Pacific region is predicted to dominate the market with a share of 32 % by the end of 2037. The rise of new industries in Asia ascribing to the provision of government tax incentives and low labor costs is also expected to boost the market growth in the region in the coming years. Mainly the residential and commercial building sector constitutes a major share of the Asia Pacific construction sector, and this factor is expected to offer lucrative growth opportunities for the waterborne coating market in the Asia Pacific region during the projected period. Moreover, rising costs of establishing residential and commercial structures, leading to the need for waterborne coatings are anticipated to rise in additional nations including Malaysia, Thailand, Indonesia, and Vietnam.
European Market Forecast
Moreover, the European waterborne coating sector is projected to grab a noteworthy share of 23 % during the projected timeframe. This can be attributed owing to the rising investment by the companies in order to launch a better version of waterborne coating. In addition, there has been growing awareness among the population of the Europe region related to the eco-friendly nature of waterborne coatings. According to a European Coatings Journal survey, 58% of European consumers are willing to pay more for eco-friendly coatings.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?