Water-Borne Coatings Market Research, Industry Trends, Supply, Sales, Demands and Opportunitiesby Deepak Kumar Sr. SEO Executive
The global water-borne coatings market is expected to witness robust growth during the forecast period (2017-2023) owing to the growing environmental concerns and increasing awareness among consumers. By resin, acrylic resin segment is projected to witness significant growth due to low production cost, thereby finding application in automotive and infrastructure sectors.
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Water-borne coatings have water as liquefying agent or solvent to disperse all the elements for coating such as resin. Polyacrylate, polyvinyl ethers, or polyurethane resins are incorporated as binders in water-borne coatings. Such coatings are used for enclosed areas and do not cause any harmful emissions.
In recent years, the water-borne coatings market has witnessed new product developments and innovations such as the emergence of eco-friendly coatings. These eco-friendly coatings are temperature and heat resistant and are suitable for end-use industries such as architecture, marine, wood, and automotive.
The major challenge faced by the water-borne coatings market is the inability of these coatings to adhere on grimy, chalky and peeling surfaces, thereby demands thorough surface preparation. Surface preparation would require increase in cost and time.
Additionally, uneven enforcement of existing government environmental regulations, availability of cheaper substitutes, which reduces the performance of water-borne coatings, are restraining the growth of the water-borne coatings market.
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Key players in the global water-borne coatings market include Akzo Nobel N.V., Asian Paints Ltd., Nippon Mektron, Ltd., PPG Industries, Inc., The Sherwin-Williams Company, The Valspar Corporation, Axalta Coating Systems, Benjamin Moore & Co., Berger Paints India Limited, and BASF SE.
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Created on Nov 13th 2018 14:10. Viewed 147 times.