Global Paints & Coatings Market: Waterborne Technology’s Lucrative Foothold

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Global Paints Coatings Market Waterborne
Technologys Lucrative Foothold Paints
coatings comprise a mixture of components,
such as a carrier (water, solvent, or
both), a film-forming element in the
coating, such as polyurethanes, alkyds, and
oils, as well as pigments or dyes that add color.
Although their primary purpose is protecting
the surface to which they are applied,
paints coatings also add aesthetic value
to interiors and exteriors. According to
Inkwood Research, the global paints coatings
market is set to record a CAGR of 4.97 during
the forecast period of 2023 to 2032,
capturing a revenue share of 241.624
billion by 2032.
Waterborne Paints Coatings Whats the
Appeal? While some wooden houses, bridges, signs,
and stores were painted as early as the 18th
century, it wasnt until recently that mass
manufacturing rendered a broad variety of paints
universally indispensable. Today, paints
coatings are utilized in interior and
exterior house painting, planes, appliances,
boats, automobiles, furniture, and other
surfaces where aesthetics and protection are
essential. In this regard, waterborne
coatings constitute a major percentage as
solvents, binders, pigments, and
performance additives, based on the
applications requirements. Also, waterborne is
the dominant type of paints coatings technology
utilized globally and is expected to
capture the highest share of 43.23 by
2032. (Source Inkwood Research) The market
share of waterborne paints coatings has grown
rapidly over the years,
given their favorable properties such as
increased availability, fast-drying nature, and
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• lower VOC levels. Moreover, they entail a
  wide variety of resin types, like acrylic,
  urethane, polyester, alkyd, fluoropolymer,
  epoxy, and waterborne powders. As per
  Inkwood Research, the acrylic segment, under
  the resin type category, is expected to grow
  with the fastest CAGR of 5.11 by 2032,
  capturing the highest revenue share of 31.35
  in 2022.
• Waterborne Technology Market Observations
• Waterborne coatings in the
  architectural (interior/exterior)
  segment expected CAGR by 2023 5.29 are
  projected to show healthy growth in the next five
  years. The growth is mainly driven by the
  following
• Significant investments in infrastructure
  developments
• Rise in housing projects
• Renovation of existing residential and
  commercial buildings
• The increasingly eco-friendly nature of
  waterborne coatings, along with their
  versatile properties, are boosting their
  demand across developing economies, primarily
  in the Asia-Pacific.
• Accordingly, Asia-Pacific is set to lead
  and dominate the global
• paints coatings market over the forecast
  period, capturing a revenue share of 38 by
  2022 and a CAGR of 5.85 by 2032.
• Waterborne coatings are commonly required
  in automotive paints. Aligning with this,
  there has been a steady shift toward waterborne
  acrylics, particularly in automotive basecoats,
  owing to environmental challenges.
• This factor, in turn, plays a vital role
  in positioning automotive
• (OEM) as one of the fastest-growing
  applications, with a CAGR of 5.15 by 2032.
• Painting a Strategic Landscape with Waterborne
  Technology
• The growing focus on environmental
  sustainability, in addition to stringent
  government regulations to minimize the use of
  harmful substances, is anticipated to promote the
  demand for water-based paints during the forecast
  period. This has also encouraged companies to
  increase their investments and advance their
  strategic ventures in waterborne paints,
  predominantly given the advantages and subsequent
  profits they yield.

Chimica Adriatica SpA (ICA). The latters focus
on innovative waterborne
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• as well as solvent liquid coatings
  technology, including an expanding portfolio
  of BIO water-based coatings, is set to
  provide the company with numerous
  opportunities to accelerate profitable
  growth, globally.
• LANXESS (Germany), a Specialty chemicals
  company, established a new manufacturing line
  for the production of water-based compounds in
  Nantong, China, in 2021. Typical application
  areas for these products entail flat materials
  for automotive interiors, i.e., instrument
  panels, as well as door and sear panels.
• Michael Timm (Head of Marketing
  Development Cast Elastomers at URE)
  states, As the automotive industry will continue
  to switch from solvent-based to
  environment-friendly water-based coatings, we see
  strong potential with attractive growth rates.
  (Source)
• In May 2020, Foseco (India) developed a new
  fast-drying waterborne coating, SEMCO FD. It
  enables foundries to utilize coatings
  with significantly higher solids content,
  thus offering greater protection against
  casting defects. Subsequently, SEMCO FD yields
  advantages such as an accelerated drying process,
  a tremendous improvement in the quality of the
  working environment, lower energy
  consumption, and improved foundry
  profitability.
• BASF (Germany) and Nippon Paint China,
  a leading coatings manufacturer,
  collaboratively launched an eco-friendly
  industrial packaging in August 2022.
  With Joncryl High-Performance
  Barrier, the water-based acrylic dispersion
  by BASF as the barrier material, the
  novel packaging material is commercialized
  for constructing Nippon Paints dry mortar produc
  ts.

• Arkema (France), a global

chemical producer
company, acquired Polimeros of waterborne
acrylic resins,
Especiales, a Mexico-based
in September 2022. Polimeros Especiales
manufactures high-performance waterborne resins
for diverse markets, such as construction,
architectural and decorative paints,
pressure-sensitive adhesives, and textiles.
The move is set to strengthen the companys
position in Mexico, a fast-growing region, as
well as its key offering
in solvent-free solutions. Over the
years, the driving force for the development of
waterborne technology has been environmental,
with water-based paints coatings offering a
holistic approach to sustainability. They also
provide high color retention over time, in
addition to generating limited
odors. Consequently, these characteristics
increase the demand for waterborne solutions
across myriad applications, thus contributing
to the growth of the global paints
coatings market during the forecast period. FAQs
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• What is UV-curable technology for waterborne
  coatings?
• A UV-curable technology for waterborne coatings
  is a surface treatment that is either cured by UV
  radiation or shields the underlying material from
  the radiations adverse effects. The technology
  has also received significant traction in
  industrial research.
• What are some of the challenges faced by the
  global paints coatings market?
• A Uncertainties associated with raw material
  prices, geopolitical tensions, and regulatory
  issues are among the key challenges faced by the
  global paints coatings market.