Demand for water-borne coatings continues to grow around the world, most of them driven by environmental policies, while more and more customers are calling for more attractive solutions to the environment.
According to data from Grand View Research (GVR), the total market for waterborne coating systems was 20.55 million tons in 2014. According to market and Markets and Zion Market Research (ZMR) market surveys, sales of global waterborne coatings in 2015 Less than 54 billion euros.
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By 2020 consumption is expected to exceed 32 million tons
Markets and Markets (MaM) are expected to grow at an average annual rate of 5% by 2020 and global sales of water-based coatings will exceed 67 billion euros, given the further growth expected by market researchers. ZMR estimates The average annual growth of 5% by 2021, the global sales of water-based coatings will rise to more than 70 billion euros; GVR researchers are expected to grow at an average annual rate of 6% by 2022, consumption will reach 32.71 million tons. Three market research institutes to provide Of the data tend to be consistent, it is estimated that by 2020 or so, the global consumption of waterborne coatings will exceed 32 million tons.
Waterborne architectural coatings dominate
Nearly 54 billion euros of water-based paint in the paint and coatings market accounted for more than 40% share, now estimated to have exceeded 126 billion euros, of which architectural coatings account for most of the market share of water-based paint.At present, water-based architectural coatings account for about 84% of all architectural coatings worldwide.The numbers vary by region, for example, market penetration is above this average in Europe and North America, but lower in Asia Pacific and South America, which in turn means Water-based coatings in these areas still have great potential for development.
It can also be seen from this figure that the water-based finish of architectural decorative coatings has been basically completed, and as more and more laws and regulations on VOC content are implemented, customers will increase the demand for water-based coatings, though in all applications, Neither is better than solvent-based paints, and investments in infrastructure and other construction activities in Asia Pacific and the Middle East, in particular, will drive the demand for future waterborne coatings.
Low use in industrial coatings
However, in the field of industrial coatings, the share of water-borne coatings is much lower than that of architectural decorative coatings, and the application of water-based coatings accounts for only one third of the industrial maintenance and anticorrosion, and this share will increase only very slightly in the next few years The numbers of marine coatings are also very low, accounting for about 10% of the average industrial coatings business and almost impossible to change in the coming years Overall, waterborne coatings account for only the total amount of industrial coatings 7%. Some research institutes predict that this ratio may double in the next three to four years.
GVR sees automotive OEM coatings as another growth area, with waterborne coatings now accounting for half of the automotive coatings market.GVR market researchers believe that waterborne automotive coatings are the fastest growing areas and believe that by 2022, the average annual growth rate will be Reaching 8.1% .Although this growth rate may sound overly optimistic, but the trend may be correct.MaM also pointed out the huge potential for growth in the automotive industry in the future.