Global Acrylic Based Waterborne
Coatings Market is expected to grow at a significant CAGR in the estimated
period. Acrylic Based Waterborne Coatings is also called as environmental
friendly coating used for surfacing of materials which uses water as a solvent
medium. Resins used for this type of coating are water soluble resins such as
copolymers, styrene, butadiene, acrylics and alkyds. It releases volatile
organic compounds since water is the major component for this type of coating. It
offers environmental advantages such as resistance towards abrasion and heat,
adhesion, minimal inflammability and low amount of coating to cover a specific
surface area in comparison with solvent borne coatings.
Waterborne acrylic coatings are extensively
used in various verticals such as buildings & construction, automotive,
packaging and woodworking. Overall, with the extensive use of acrylic based
waterborne coatings in different sectors for various purposes, the acrylic
based waterborne coatings market is expected to grow at a significant CAGR.
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Commercial driving factors for
the growth of acrylic based waterborne coatings market include rise in
construction activities and development of advanced infrastructure. Also, the
inclination of end-user industries towards acrylic based waterborne coatings
contribute to the acrylic based waterborne coatings market growth in the
prescribed period and is expected to continue in the forthcoming years.
Based on segmentation by
application, the acrylic based waterborne coatings market includes
architectural wood, automotive, OEM, metal packaging and protective coatings.
Construction material dominates the global market in the forthcoming period.
Based on segmentation by end-user, the acrylic based waterborne coatings market
includes woodworking, packaging and general industries and automotive.
Geographically, acrylic based
waterborne coatings market spans North America, Latin America, Europe,
Asia-Pacific, Middle-East and Africa. APAC market dominates the market in terms
of volume and value. Also, the substantial development in APAC regions is
anticipated to grow at a higher CAGR during the estimated period. Rapid
urbanization is also considered to have a positive impact on the market
development. Factors such as rise in demand for waterborne acrylic coatings and
pace of construction sector in Europe contribute to the market growth. The key
players in the acrylic based waterborne coatings market include The Dow
Chemical Company, PPG Industries, BASF SE, DIC Corporation, DSM, Nippon Paints Limited
and Axalta Coating Systems.
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