Waterborne Coating Market Trends

Growth Drivers

• Escalating Demand for Environment-friendly Coatings - Water-based paints are considered more environmentally friendly as compared to solvent-based paints due to their lower volatile organic compound (VOC) content. Consumers and businesses are increasingly focused on sustainability and reducing environmental impact. A survey by the American Coatings Association found that 74% of consumers are willing to pay more for green coatings and 64% of consumers are actively looking for green products.  
• High Profitability in Emerging Markets – Developing countries invest mainly in infrastructure and long-term projects. In addition, the market in the region is experiencing strong growth due to heavy investment by large companies in projects in the region. Especially in China and India, there are significant growth opportunities for manufacturers of coating resins and waterborne coatings.
• Establishing New Technologies to Improve Coating Performance – Waterborne technology continues to evolve, and it is estimated that there is an increasing awareness and education about the benefits and merits of water-based paints
• Increasing Preference for Water-Based Coatings in Various End-Use Industries – Water-based coatings are becoming increasingly popular in various end-use industries such as construction, automotive, packaging, and furniture.

Challenges

• High Production Cost - Water-based paints are generally more expensive to manufacture than traditional solvent-based paints. This is due to the complex manufacturing processes involved, including the need for specialized equipment and raw materials. High production costs may make water-based coatings less competitive in some markets.  
• Strict Regulation Associated
•  Stability of Waterborne Coatings is Affected by Low Temperatures and High Humidity