Global waterborne paint production is expected to reach 32.71 million tons in 2022

I. Analysis of the main reasons for growth:

1. Driving of Construction and Automotive Applications (1) Driven by Construction Industry is the Main Cause of the Growth of Waterborne Coatings

This part of the application accounted for 86.5% of the total market. In the next six years, the construction of new and reconstructed buildings in the Asia-Pacific and Middle East regions will become the main driver for the growth of the waterborne coatings market, as water-based coatings are widely used in indoor and outdoor painting of doors, decorative materials and building facades.

(2) Growth in the automotive industry drives demand for waterborne coatings

In addition, the continuous growth of automobile production in China, India, Thailand, Indonesia and Mexico has also promoted the demand for waterborne coatings. Automotive OEM is the fastest growing area, and it is expected that the growth rate will reach 8.1% from 2016 to 2022.

2. Driven by local VOC emission policies

The increasingly stringent regulatory restrictions on solvent-based coatings for VOC emissions will also promote the growth of the water-based coatings market, especially as China's VOC emission policies are increasingly stringent.

Second, the proportion of water-based resin analysis

Water-based acrylic resin is the mainstream waterborne polyurethane The fastest-growing acrylic resin is the most used resin in waterborne coatings, accounting for more than 80% of the total market in 2015. Due to its good weather resistance and lower cost, it is widely used in infrastructure and automotive industries.

Waterborne polyurethanes are expected to become the fastest growing resin species, with an annual growth rate of 7.5% from 2016 to 2022. The main reason for its growth is its superior performance over other resins.

Third, the regional analysis of water-based paint applications

1. Europe is the largest regional market for waterborne coatings

In 2015, waterborne coatings in Europe accounted for nearly 40% of global consumption. It is foreseeable that strict environmental regulations on solvent-based coatings will further promote the demand for waterborne coatings in the region.

2. The fastest growing in Asia Pacific

It is expected that the Asia Pacific waterborne coating market will achieve the fastest growth of 7.9% between 2016 and 2022. The main factors driving demand growth in the region are the increase in infrastructure projects in India, China and Indonesia. Asia Pacific is expected to replace Europe in 2022 as the largest regional market for waterborne coatings.

Future Trends: Integration of Waterborne Coatings Market

It is expected that large multinational companies will have a modest integration of the waterborne coatings market in the future. These large multinational companies include BASF, Berger Paint, Kansai Paint, Axalta Coating Systems, Nippon Paint, RPM International, PPG, AkzoNobel, Valspar, Sherwin and Tikkurila. Foshan Wanxia New Material Technology Co., Ltd. specializes in R&D, production and sales of water-based environmentally friendly resins based on the protection and decoration of metal substrates. The company has the ability to research and develop new products according to customer requirements; professionally research and develop water-based industrial paints for water-repellent technologies: water-based steel structural paints, anti-corrosion paints, and anti-rust paints.