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The global water-soluble paints market size is forecast to increase by USD 11.04 billion at a CAGR of 5.93% between 2022 and 2027. Our report includes historic market data from 2017 to 2021. The market's expansion hinges on various factors, notably the benefits provided by water-soluble paints, driven by their eco-friendliness and ease of use. Stringent regulations governing the use of solvent-based paints further propel market growth, emphasizing environmental sustainability and safety. Additionally, the flourishing real estate and construction industry sectors play a pivotal role, fueling demand for paints and coatings in both residential and commercial projects. These factors collectively drive the market forward, fostering innovation and sustainability in the paint and coatings industry.
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Advancements in polymerization and polycondensation techniques have further enhanced their performance, making them the preferred choice for various applications. As the industry embraces sustainability, water-soluble paints have emerged as a key player, addressing concerns related to chemical emissions and promoting eco-friendly practices across the coatings sector. These coatings, formulated with latex, acrylics, and water-soluble resins, offer superior color retention and a glossy finish while remaining environmentally-friendly. With technological developments and the use of AI-powered tools, the industry is embracing environmental consciousness and meeting customer preferences for personalised color matching and custom-making paints, and textured finishes for various applications in paper packaging, electronics, and construction industries.
The water-soluble paints market is experiencing significant growth driven by the increasing demand for organic medium and environmentally-friendly coatings in various sectors such as the building & construction industry, infrastructure development, and the automobile sector. Factors such as rapid urbanization, stringent government policies aimed at reducing global warming and ozone depletion, and concerns over air quality and health-concerns problems are also driving the adoption of water-soluble resins and coatings. These paints offer several advantages, including color retention, corrosion resistance, and weathering capabilities, while addressing concerns related to toxicity, fire hazards, and VOC emissions associated with solvent-based coatings. With growing awareness and technological advancements, the market is witnessing a shift towards sustainable practices and eco-friendly solutions, emphasizing the importance of water-based coatings in the coatings industry.
The architecture segment showed a gradual increase in market share from USD 10.91 billion in 2017 and will continue to grow by 2021, as indicated by market forecasting. Architectural water-soluble paints provide excellent corrosion and temperature resistance, durability, and low fire-hazard risks, in line with market trends. These protect buildings from moisture, ultraviolet (UV) radiation, and microbes. Globally, architectural water-soluble paints are increasing in popularity as they contain low concentrations of VOCs, highlighting market analysis and report findings. Stringent government regulations on reducing VOCs content have led to the development of resins with little or no solvents for producing films. Zero-VOC coalescents have also been developed. Stringent regulations on reducing emission levels have increased the use of water-soluble solvent based coatings in the architecture industry. Thus, growth in commercial and residential construction, the rising disposable income of the population, particularly in developing economies such as India, and the growing demand for eco-friendly paints due to stringent regulations will foster the market forecast through the architectural segment during the forecast period.
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Architectural coatings, often known as exterior wall coatings and other coatings, are used in painting the interior and exterior of buildings. Architectural paints and coatings are mainly used in residential and commercial buildings, as observed through market trends and analysis. These are designed mainly for roof coatings, wall paints, or deck finishes. Architectural water-soluble paints protect indoor and outdoor architecture, besides improving their aesthetics, contributing to market analysis. Market research and influenced by rising investments in the construction sector and growth in demand for interior design services. Also, advancements in building designs will increase the demand for highly technical design development, shaping the market and forecasting. This will, in turn, increase the sales of the architecture segment during the forecast period.
APAC is projected to contribute 46% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The increasing production of automobiles and related components in APAC increases the demand for water-soluble paint, particularly in countries such as India and China. Key players operating in the regional water-soluble paint are strengthening their geographical presence to utilize business opportunities. The growth in the housing sector, rapid industrialization, and expansion of the architecture industry contribute to the growth of the water-soluble paint in APAC.
For instance, in November 2021, Asian Paints announced the expansion at the Ankleshwar plant in India. The Government of Gujarat has signed an MoU to start the anticipated expansion of paint, resin, and emulsion manufacturing capacity at its Ankleshwar plant in Gujarat. Such end-user expansions will positively influence the regional water-soluble paint during the forecast period.
The water-soluble paints market continues to evolve with advancements in polymerization and polycondensation, leading to the development of coatings with enhanced properties such as color retention, corrosion resistance, and adhesion. These coatings, formulated with water-soluble resins and water-borne coatings and waterborne alkyds, offer a glossy finish and are preferred for their environmentally-friendly nature, addressing ecological concerns associated with traditional organic solvents derived from petroleum. As rapid urbanization drives demand, stringent environmental restrictions encourage the adoption of water-based coatings, mitigating volatile organic compound (VOC) emissions and promoting sustainable practices like biodegradable binders in the coatings industry. With a focus on long-term impact and awareness of chemical emissions, the market emphasizes painting solutions that align with environmental sustainability and address emerging ecological concerns.
The advantages offered by water-soluble paints are the key factor driving the global market growth. Water-soluble are extensively used in automobiles, buildings, construction, and medical and healthcare sectors. These water-soluble function as primers due to their excellent resistance to heat and abrasion, besides providing superior adhesion. Owing to their low-VOC content, such are environment-friendly and are increasingly used in hospitals. Water-soluble are less toxic and flammable due to their low levels of volatile organic chemicals (VOCs) and hazardous indoor air quality pollutants (HAP) emissions. This is the major factor for driving the during the forecast period.
The expansion of manufacturing facilities by Companies will fuel the global market growth. Major Companies are increasingly focusing on expanding their production capacity for water-soluble by either expanding their production capacity of existing plants or opening new plants. For instance, in June 2022, Akzo Noble announced an investment in a new production line for water-based texture at its Songjiang site in Shanghai, China, to boost its capacity for producing more environment-friendly goods. Such expansions by Companies increase the production and sales of water-soluble, thereby accelerating the growth momentum of the in focus during the forecast period.
The volatility in raw material prices is a major challenge to the market growth. The prices of raw materials used to manufacture water-soluble paints are highly unpredictable, mainly due to their high dependence on crude oil prices and natural forest products. Petrochemical feedstock required for manufacturing most coatings includes binders and solvents, such as polyesters, alcohols, and epoxy resins. Crude oil and natural gas are the basic raw materials used for producing binders. Fluctuations in global crude oil prices will have a direct impact on the cost of feedstock which is expected to negatively impact the growth of the market during the forecast period.
The research report includes the adoption lifecycle of the industry, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Akzo Nobel NV - The company offers water-soluble paints such as Dulux Paint Mixing Weathershield Smooth Masonry Paint.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
This market is a pivotal segment within the paint industry and the broader paint manufacturing sector. These environmentally friendly paints offer an alternative to traditional solvent-based coatings, aligning with the growing demand for eco-friendly coatings and sustainable paints. As waterborne paints gain traction, they find applications in architectural coatings, industrial coatings, and both interior and exterior paints. With a focus on reducing volatile organic compounds (VOCs), manufacturers develop low-VOC paints through innovative paint formulations and paint technology. A comprehensive analysis of paint market trends and paint market analysis reveals significant market growth, reflecting the shift toward more environmentally conscious and sustainable painting solutions.
Significant growth driven by the increasing demand for environmentally-friendly coatings in various sectors such as the building and construction industry and the automobile sector. Factors such as rapid urbanization, stringent government policies aimed at reducing global warming and ozone depletion, and concerns over air quality and health problems are also driving the adoption of water-soluble resins and coatings. These paints offer several advantages, including colour retention, adhesive, corrosion resistance, and weather resistance capabilities, while addressing concerns related to toxicity, fire hazards, and VOC emissions associated with solvent-based coatings. With growing awareness and technological advancements, the market is witnessing a shift towards sustainable practices and eco-friendly solutions, emphasizing the importance of water-based coatings in the coatings industry. The water-soluble paints also find applications in medical and commercial sectors, offering abrasion resistance and adhesion properties, further fueling market growth.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
186 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.93% |
Market growth 2023-2027 |
USD 11.04 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.04 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 46% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies , Market Positioning of Companies , Competitive Strategies, and Industry Risks |
Key companies profiled |
Akzo Nobel NV, Asian Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Berger Paints India Ltd., Berkshire Hathaway Inc., Brillux GmbH and Co. KG, Chenyang Group Ltd., DAW SE, Diamond Vogel, Dunn Edwards Corp., Eco Safety Products, Kansai Paint Co. Ltd., Meffert AG Farbwerke, Nippon Paint Holdings Co. Ltd., NIPSEA Group, PPG Industries Inc., RPM International Inc., Sika AG, and The Sherwin Williams Co. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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