Waterborne coatings are mostly preferred over solvent-borne coatings because they do not harm the environment in any way. There are several properties that make the waterborne acrylic painting the most suitable one for use in industrial as well as commercial sectors. They have an improved resistance towards abrasion and an excellent adhesion property that makes them the most suitable in water prone as well as flammable places. Their ability to cover bigger surfaces with a very low amount also makes for the growing demand in the Waterborne Acrylic Coatings Market.
The market stood at a global estimation of $ 61.31 billion in 2030. The forecast period of the market was predicted from 2020 to 2026, amid which it showed a healthy and substantial growth rate of 5.77% of CAGR. With potential factors driving the market dynamics, the market is again predicted to showcase a market value of $177 billion by the end of its forecast period. There has been a significant increase in construction as well as building activities, and factors like such demand a paint that is resistant to all the environmental factors. With an increase in urbanization, more people in developing countries are inclined towards the use of coated protection for their products. The Waterborne Acrylic Coatings Market happens to provide one of the best products with refined qualities. A rise in construction activities is also contributing to the same. However, a few properties of the waterborne acrylic coating are not so favorable for the construction industry.
The drying time required for the painting is much higher as compared to any other volatile substance, and this makes solvent-borne paintings more preferred over waterborne ones. Under hot and humid conditions, the paint also doesn’t easily release water leading to poor evaporation, and factors like such have managed to restrain the Waterborne Acrylic Coatings Market. Moreover, the global pandemic limited manpower, and the lack of labor skills also degraded the demand for the market at the global level.
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The Waterborne Acrylic Coatings Market is majorly segmented into its type, its solvent-borne coating and its application.
The waterborne coating type, the market is segmented into acrylic and polyester and Epoxy, polyurethane and alkyd. Based upon its solvent-borne coating type, the market is again segmented into one-component system coating and two-component system coating. Based on its applications, the market is divided into automotive, marine and architectural and decorative along with general industrial usage.
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The Waterborne Acrylic Coatings Market is known to have spread its dominance over parts of Italy, Spain, Germany and the UK in Europe. It also spreads over parts of other continents like Asia-Pacific, South Africa, Australia and Latin Africa.
PPG Industries, DIC Corporation, Nippon Paints Limited, The Dow Chemical Company, Axalta Coating Systems, BASF SE, DSM, and others.
The Waterborne Acrylic Coatings Market has several key players functioning in its market dynamics that have helped with the growth and development.
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