Pune, India — (PRESS RELEASE JET) — 09/29/2017 — Market Overview
Acrylic based waterborne coatings are used in a large variety of applications such as construction material, architectural wood, metal packaging, protective coating and others. They are used in various end use industries such as buildings & construction, automotive, packaging, woodworking, general industry, aerospace & defense, marine and others. Moreover, owing to its excellent durability coupled with less hazardous disposal make it suitable for usage in residential marketplace.
On the basis of geography, Asia Pacific region is expected to witness high growth rate as compared to developed regions such as North America and Europe. The demand of acrylic based waterborne coating is comparatively low in North America, Europe, and Rest of the World region.
Global waterborne acrylic coatings market is projected to reach USD 61.3 million by 2023 with 5.77% CAGR during review period 2017-2023.
Asia Pacific accounted for largest share in terms of value and volume owing to the rapid urbanization coupled with infrastructural developments in the region. In terms of application, construction material as an application accounted for the largest market share expanding at a CAGR of 5.94% which is followed by architectural wood. Similarly, building & construction accounted for the largest value share as an end use industry
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Some of the key players operating in the global waterborne acrylic coatings market are
– The Dow Chemical Company,
– PPG Industries,
– BASF SE,
– DIC Corporation,
– Nippon Paints Limited
– Axalta Coating Systems among others.
Segmentation of global acrylic based waterborne coatings market is done on the basis of application, end use industry and region. On the basis of application, market is segmented into building surfaces, pavements, roof coatings, bridges, shipyard, office furniture, kitchen cabinets, door skins and others. On the basis of end use industry, the market is categorized into buildings & construction, automotive, aerospace, marine, woodworking, process industry, packaging, and others. Based on region, this market is segmented into APAC, Europe, Latin America, North America, and Middle East & Africa.
Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Waterborne Acrylic Coatings Market Research Report- Forecast to 2023”
Asia Pacific emerged as the leading regional market of acrylic based waterborne coatings on account of its wide utilization in automotive and building & construction sector. Building & construction is driven by rising urbanization in Asia Pacific region and specifically the countries like India, China, and Japan are showing significant rise in these areas which resulted into increased demand for commercial, residential and industrial infrastructure. Increasing end use applications for acrylic based waterborne coatings market in all of these region contribute significantly in the regional growth
Stringent environment regulations in North America and Europe is anticipated to drive the demand for acrylic based waterborne coatings market in that regions.
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Water based acrylic coatings possesses good flexibility, quick dry facilitating the application of a second coat, high gloss which make it suitable for pavement marking, road marking which provide lane delineation and guidance to drivers, cyclists, pedestrians and other roadway users. Fast drying capacity improves the resistance of markings during rain showers. Acrylic based waterborne coating possesses a unique kind of polymer structure that has lower tendencies to absorb ultraviolet light, which help it in retaining gloss and color for long time. Owing to excellent stain and chemical resistance, lower or no risk of fire, and low odor, these have wide usage in furniture, kitchen cabinets, and other wood and wood products.
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