Waterborne Coatings Market

The gradual shift of the automotive manufacturers to shift their production facilities in owing to the availability of cheap
but skilled labor towards developing economies of Thailand, China, India, and Indonesia is anticipated to steer growth of
the coatings industry.
Resin Insights:
Acrylic resins are the largest coating type consumed in 2014, owing to its wide applications in automotive refinishes,
paints, medical devices, sealants, adhesives and architectural market. End-use industries prefer these resins owing to the
low cost of production with excellent durability and weatherproof properties.
Polyurethane (PU) resins find a wide range of applications in high-quality finishes in indoor and outdoor coatings. These
resins are anticipated to be the fastest growing resin type over the forecast period. The demand for these resins has
expanded for end-use industries such as the coil and automotive markets. They are majorly used for developing
prototypes for motorsports vehicles, light-weighted vehicles, and formula one cars.
Other resins include epoxy and PVC have shown their demand owing to their properties such as weather resistance,
adhesion, and chemical resistance. They have found application in automotive interiors, office machines body, electrical
insulations, and industrial finishes.
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Application Insight:
The major application of this market includes general industries, automotive OEM, architectural, protective coatings,
automotive refinish, and industrial (which includes metal furniture, automotive components, and HVAC). Architectural is
the largest application segment and is expected to dominate the industry over the forecast period. Application of
coatings in this segment are lacquers and vanishes, for decoration and protection of door and window frames.
Steel and aluminum industries are showing interest in coil coatings, further driving the market globally. Recently the
market has been diversified for marine, wood, packaging and general industries as well.
Regional Insights:
Europe has emerged as the largest regional market in 2014 and is anticipated to grow moderately over the forecast
period. Increasing demand in this region is particularly for growing demand for the automotive finishes and architectural
anticipates.
Owing to rapid constructional development in emerging countries of Asia-Pacific and The Middle East, the market is
expected to create lucrative opportunities for the industry participants over the forecast period.
Competitive Market Share Insights:
The global market is highly competitive with many industrial participants in U.S., Europe, Asia-pacific and The Middle
East. Key market players are BASF, Axalta, Berger Paints India Ltd, Akzo Nobel NV, The Sherwin-Williams Company, The
Valspar Corporation, and Nippon Paint Holdings Company Ltd.