Report Predicts Waterborne Coatings Market to Reach $95 Billion by 2024
SHELBYVILLE, DE — According to a report released by Global Market Insights Inc., the market for waterborne coatings should exceed $95 billion by 2024. Shifting trends towards environment-friendly products should favor waterborne coatings market size. These coatings are categorized as eco-friendly products containing, low VOC and HAP content, which offer less risk to the environment, promoting product demand.
The report predicts that architectural applications will witness gains at above 5.5% during the forecast timeframe. An increase in living standards has led to a rise in renovation, interior decoration and remodeling activities in both residential and commercial construction, which should drive the market for waterborne coatings. Government initiatives and financial assistance in restoration activities and public infrastructure development mainly in India and China will also contribute to growth in the market.