Industry Background:
Water-based coating is advanced in paint technology used to paint and coat buildings, furniture, automobile parts, architecture and others. It is widely used in the crack filling, damp proofing, waterproofing, and others. Traditional Solvent-based coatings which produce harmful volatile organic compounds (VOC) levels into the ozone which can be damaging to the environment and health of people, by considering these issues water-based coatings have been driven. Moreover, in January 2007 the initiative taken by the UK government for environmental legislation regarding lower VOC levels has increased the use of water-based coating rather than solvent-based coatings. Increasing awareness of the environment has changed the consumer and market demand.
This growth is primarily driven by Low Cost As Compared To Traditional Coating (Solvent-Based), Rising Awareness Regarding Health and Safety and No Use of Isocyanate in Water-Based Coating.
Globally, a noticeable market trend is evident Government Regulations for VOC Limitations in Paint Product
. Major Vendors, such as BASF SE (Germany), AkzoNobel N.V. (Netherlands), PPG Industries Inc. (US), RPM International Inc. (US), The Sherwin-Williams Company (United States), Asian Paints Limited (India), Axalta Coating Systems LLC (United States), Nippon Paint Holdings Co. Ltd. (Japan), Kansai Paint Co. Ltd. (Japan), Jotun Group (Norway) and Tikkurila OYJ (Finland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2019, Berger Paints Bought STP Ltd. Indian Based Berger Paints, It Serves The Customer By Giving Service In Every Painting. The Acquisition with the STPL Will Complement the Existing Businesses, And It Expands the Company’s Business In The Market And It Also Bring Experiences And High Growth In The Areas Of Manufacturing, Selling, Distribution, Procurement, And Technology.
In November 2019 Ashland Has Announced Their Latest Water-Based Voc Coating Technology. It Uses Drewplus L- 3500 And L-3510 Foam-Control For Controlling Macro- And Micro-Foam, It Offers Improved Performance Over Reduction Of Micro-Foam.
Market Drivers
- Low Cost As Compared To Traditional Coating (Solvent-Based)
- Rising Awareness Regarding Health and Safety
- No Use of Isocyanate in Water-Based Coating
Market Trend
- Government Regulations for VOC Limitations in Paint Product
- The demand for Coating to Do Good Work in a Short Time.
Restraints
- Water-Based Coating Is Prone To Frost Damaged
- Susceptible To Environmental Conditions
Opportunities
Increasing Awareness Regarding Environmental Responsibilities and Increasing Demand from Automotive Sector
Challenges
Not Suitable For Moist Environment and Water-Based Coatings Are Prone To Chipping
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Water Based Coating Study Sheds Light on
The Water Based Coating Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Water Based Coating industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Water Based Coating industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.