Strict Environment Regulations related to Reduction in VOC Emissions to Fuel Demand of Water-Borne Protective Coatings
In light of stringent regulations with regards to application of environment friendly material in a bid to reduce VOC (Volatile Organic Compound) emissions, demand for water-borne protective coatings is poised to increase at a significant rate. Growing attention on sustainable solutions along with abiding government norms and regulations continue to influence the water-borne protective coatings market growth worldwide. For instance, Government of China has laid strict norms and regulations in order to safeguard and maintain air quality as well as human health. This initiative is robustly complemented by the aspiration to use advanced material and not compromise on protection quotient that the coating is able to deliver. Also, new norms implemented by government bodies such as the ECS (co-product Certification Scheme) implemented by European Commission promote use of VOC-free coatings. This has resulted in a sustainable and green environment with minimal VOC emissions which has translated into a favorable scenario for water-borne protective coatings market.
Water-borne protective coatings are one such type of advanced material that facilitates environment protection. Apart from this aspect, other benefits of water-borne protective coatings have fuelled their use in various industrial applications, as compared to their solvent based counterparts. For instance, shunning the risk of explosions and reducing insurance fees is a vital factor that can be achieved by adopting water-borne protective coatings. Moreover, water-borne protective coatings can also decrease costs apropos to waste removal as waste streams are comparatively less in water-borne protective coatings than those from solvent coatings. This factor remains instrumental in driving the sales of water-borne protective coatings in turn contributing towards market growth.
However, prevailing challenges such as high price of water-borne protective systems along with technical issues associated with adhesion strength, appearance and varying flow rate continue to emboss pressure on the water-borne protective coatings market. Ingredient formulators and suppliers are focusing their efforts in tackling such challenges which is likely to favor water-borne protective coatings market growth in the near future.
Additive Integration to Shun Performance Gap – Novelty Deployed to Enhance Performance of Water-Borne Protective Coatings
Application of water-borne protective coatings on various surfaces remains a key challenge that players are addressing. In comparison with solvent based coatings, water-borne protective coatings offer a parallel performance with only two factors wherein the former wins – the optimal curing of the coating and its surface application. For example, in the automotive industry, use of water-borne protective coatings is comparatively difficult due to their curing ability. This has translated into significant additional investments in spray equipment. In a bid to remove the performance gap, various advancements in water-borne protective coatings have been introduced to overcome hindrances related to surface tension. These advancements include use of graphene, rheology modifiers and nano material, which are being adopted by companies to improve the performance factor of their water-borne protective coatings.
Acrylic based Resins to Largely Contribute to the Water-Borne Protective Coatings Market Growth
Sales of acrylic based resins are expected to witness a significant boost and account for a significant share in the water-borne protective coatings market. These resins offer better weather resistance, higher resistance to hydrolysis and optimum color and gloss retention specifically for external applications. Other properties of these resins such as UV resistance and transparency are further influencing their demand. Water-borne protective coatings with acrylic resins, given their perceived advantages, are used in a number of applications such as coating of roofs, decks, walls, marine vessels, electrical products and machinery. In addition, water-borne protective coatings with acrylic resins offer higher surface hardness which s expected to boost their demand, consequently contributing towards the overall valuation of the water-borne protective coatings market.
Asia Pacific to Remain at the Helm of the Water-Borne Protective Coatings Market
The water-borne protective coatings market across emerging economies in Asia Pacific is poised to soar at a moderate pace. This can be attributed towards growing demand of water-borne protective coatings across industrial applications such as paint, new construction, marine and automotive across economies such as Malaysia, China, Vietnam, India, South Korea and Indonesia. China is likely to showcase potential growth in the following years on the back of growing low-cost commercial housing. Moreover, increasing investments in transportation in order to enhance the connectivity in the country has further fuelled the demand for water-borne protective coatings. In this backdrop, manufacturers of water-borne protective coatings can expect a volley of opportunities in Asia Pacific, particularly China in the years to follow.
Water-Borne Protective Coatings Market: Competitive Landscape
Few of the key players in the water-borne protective coatings market include DOW Chemicals, Arkema Group, AkzoNobel N.V., PPG industries, Axalta Coating Systems, Jotun Group and The Sherwin-Williams Company.
Global Water-Borne Protective Coatings Market is Segmented as Below:
By Resin Type
Key Elements Included In The Study: Global Water-Borne Protective Coatings Market
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