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.

There has also been an increase in the demand for epoxy resins within the coatings industry due to increasing demand from dairies, pharmaceutical companies, food processing units, electronics, aircraft hangars and automotive facilities. The market for waterborne epoxy coatings is expected to witness high growth in countries such as Brazil, Thailand and India, due to the increased demand for automotive and other industrial goods.

The residential sub-segment within the architectural application segment is projected to register the highest CAGR during the forecast period. That sub-segment is projected to grow at a higher rate during the forecast period. Growth is expected to be driven by construction activities in Asia-Pacific, the Middle East and Africa. The construction industry is expected to grow in the Asia-Pacific region due to increasing construction projects in Thailand, Malaysia, Singapore and South Korea, which are driving the demand for architectural waterborne coatings.

The waterborne coatings market in Europe is projected to register the second-largest market share during the forecast period. Increasing demand from key industries such as automotive, aerospace, general industrial, coil, and rail is driving the European market. Rising car ownership, advancements in road infrastructure, and an improving economy and lifestyle are some of the major factors driving the automotive industry in the region. Increases in building construction activity, rising demand from the industrial and oil and gas applications, and the rising motor vehicle ownership are all expected to boost the demand for waterborne coatings during the forecast period.

The report, Global Waterborne Coatings Market by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC), Application (Architectural, Industrial), and Region (APAC, North America, Europe, MEA, South America) — Forecast to 2026, provides detailed segmentation of the waterborne coatings market based on resin type, application and region. Based on resin type, the waterborne coatings industry is segmented into acrylic, polyester, alkyd, epoxy, polyurethane, PTFE, PVDF and PVDC. Based on application, the market is segmented into architectural and industrial coatings. Based on region, the market is segmented into Asia-Pacific, Europe, North America, South America, and the Middle East and Africa.