As the latest research conducted by Global Market Insights, Inc., waterborne coatings market is estimated to exceed USD 95 billion by 2024. Surging inclination of architectural professionals towards the deployment of waterborne coatings is most likely to augment the market outlook in the forthcoming years.
This growth is chiefly attributed to the surging customer adoption of green ecofriendly coatings that have less VOC and HAP content and support the reduction of environmental consequences.
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Recently, Marabu, a leading manufacturer of solvent based paint and coatings, has introduced the ClearShield Anti-Graffiti solvent based paint protection solution, designed to be deployed as a protective coating on digitally printed banners, signage, and billboards that are at risk of destruction from graffiti.
Various advancements in waterborne coatings technology coupled with substantial efforts towards creating consumer awareness have been further imperative in propelling waterborne coatings industry demand.
Axalta, a prominent waterborne paint player, has been formulating training programs to acquaint customers with its innovative products, systems and technologies, state reports. The company’s ‘Axalta on Tour’ learning program has been designed to describe plastic refinishing, surface preparation, custom finishes, varnishes, as well as cost control, thereby creating significant customer awareness regarding the applications of waterborne coatings.
The waterborne coatings market in Germany is slated to witness an appreciable growth rate of more than 4.5 percent over the forecast period. The demand is likely to be augmented by the extensive scope of applications in high traffic interior surfaces comprising doors and wall surfaces, furniture, and road marking given the easy cleaning, quick drying, impact resistance, good gloss, and color retention properties.
In addition, stringent regulatory standards by EU Commission regarding the green building program is expected to have a positive influence on industry growth in Europe.
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The waterborne coatings market demand is further propelled by the wide application of epoxy coating materials in floor coatings, transportation, and industrial maintenance sectors. Epoxy coatings market share is estimated to exceed a valuation of USD 7.5 billion during the estimated timeframe.
Waterborne coatings from industrial wood applications segment is also estimated to witness substantial growth over the forecast period. Surging technological advancements for the development of UV cured waterborne coating for industrial wood will add to market expansion through the coming years.
Key players in the waterborne coatings market comprise Sherwin Williams, Kansai Paints, PPG Industries, Axalta, and others. These coatings also have high water content which makes them less toxic and facilitates the reduction of air emissions, in turn escalating industry outlook.
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