Report Predicts Market for Waterborne Coatings Will Reach $117 Billion by 2026
DUBLIN — According to a study now available from Research and Markets, the global waterborne coatings market is projected to grow at a compound annual growth rate (CAGR) of 3.5% during the projected period to reach $117.7 billion by 2026. Increasing building and construction activities and infrastructure projects, improving quality of industrial manufacturing in developing countries, and the need for protection of coated products are the major growth drivers of the global waterborne coatings market.
In terms of volume, the study expects the epoxy resin segment to register the highest CAGR of the overall waterborne coatings market during the forecast period. Waterborne epoxy coatings were commercially introduced as an environment-friendly replacement for solventborne epoxies. Earlier, demand for epoxy resins was restricted to developed countries that had stringent environmental and worker safety regulations. Demand has now also increased in emerging countries such as China, India and Brazil, where safety regulations are less stringent. Growth in demand for epoxy resins in waterborne coatings is mainly driven by the need to reduce the emission of organic solvents. This led to the rapid growth of the technology in the concrete protection market and also in OEM applications.