The Water-Soluble Paints Market is being driven by Advantages offered by water-soluble paints
The Water-Soluble Paints Market is expected to grow at a CAGR of 5.58% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10842.2 million. Major vendors in the water-soluble paints market are enhancing their production capabilities to meet growing demand for eco-friendly products. AkzoNobel, for instance, has invested in a new production line for water-based texture paints at its Shanghai, China site, boosting capacity for environmentally sustainable goods. Similarly, PPG Industries plans to expand its automotive OEM coatings production in Germany, enhancing European production capability for waterborne basecoat technology, with an investment exceeding USD10 million. These expansions underscore the industry's commitment to sustainability and growth in the water-soluble paints market.
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The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
195 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.58% |
Market growth 2024-2028 |
USD 10842.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.2 |
Key countries |
China, US, Germany, India, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The water-soluble paints market encompasses water-soluble resins used in the production of water-borne coatings, including latex, acrylics, and waterborne alkyds. These paints offer advantages such as excellent color retention, glossy finish, and adhesion. Polymerization and polycondensation processes are used to produce these resins, replacing organic solvents and reducing volatile organic compounds (VOCs). Rapid urbanization drives demand for water-soluble paints due to their long-term impact and eco-friendly nature. However, ecological concerns related to water usage and emissions require sustainable practices in the coatings industry. Weathering and corrosion resistance are essential factors in the performance of water-soluble paints, and the industry continues to innovate to meet environmental restrictions.
The water-soluble paints segment within the specialty chemicals market is poised for significant growth due to several key drivers. These include the increasing demand for environmentally-friendly, rapid drying, and high-performance coatings in various sectors such as automobile, construction, and packaging. Water-soluble paints are manufactured using water-soluble resins, which undergo polymerization or polycondensation processes. The resulting paints offer superior color retention and glossy finishes. Moreover, the global trend towards rapid urbanization and stringent government regulations on VOC (Volatile Organic Compounds) emissions have fueled the adoption of water-soluble paints. Additionally, the automobile sector's increasing focus on reducing carbon footprint and improving fuel efficiency has led to the widespread use of water-borne coatings. Furthermore, the growing concerns over global warming and ozone depletion have heightened the demand for eco-friendly alternatives to traditional solvent-based paints. According to Technavio, the global specialty chemicals market, which includes manufacturers of water-soluble paints, is expected to grow steadily during the forecast period, driven by the increasing demand for specialty adhesives and sealants, as well as the expanding applications of water-soluble paints across various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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