In terms of revenue, the water-borne inks and paints market is anticipated to bring in USD 63.10 billion by 2022. By 2032, the market is projected to reach USD 96.13 billion, growing at a CAGR of 4.3%.
Manufacturers in the water-borne inks and paints market are shifting away from solvent-based paints to water-based paints. In recent quarters, rising input costs, particularly crude oil prices, have taken a gleam off their gross margins.
The recent capacity expansions announced by major paint companies are primarily focused on water-based units. They are increasing the capacity of their plant to hold more water. These businesses are always looking for ways to improve their product portfolios.
Water-borne inks and paints are widely used in the architectural paints and coatings industry due to their low VOC content and stringent emission regulations. To comply with these regulations, paint manufacturers prefer water-based pigments. As a result, manufacturers are developing aqueous pigment dispersion systems to meet the increasing demand for ink manufacturing in end-use industries such as construction and textile printing.
Water-borne ink and paint are more environment-friendly than traditional solvent-borne coatings. Several governments have imposed strict regulations on VOCs. As a result, ink and paint manufacturers are shifting toward producing zero-VOC, water-based paints. Renowned international manufacturers have also introduced VOC-free water-borne paint lines designed specifically for premium leather applications.
Large firms have even established new digital platforms for additives that are results-oriented online applications to attain a competitive edge in the water-borne inks and paints market. These platforms enable customizable property selection across various performance parameters, including liquid paint stability and workability, to mention a few.
Once the requirements have been determined, the product recommendation engine will offer the best additives to meet the demands of the paint formulator. With rising customer demand for environmentally friendly formulations and increasingly severe regulatory rules for goods that, for example, remove or minimize Volatile Organic Compounds (VOCs), these instruments fill a growing industry requirement.
The growing preference for water-based paint systems is driving demand for paint and coating additives as formulators seek the direction these businesses give.
Certain global players are introducing new floor paint and concrete stains that incorporate cool surface technology. These water-borne coatings can reduce surface temperatures by up to 20% and protect bare feet (and paws) on concrete surfaces, wood patios, porches, and pool decks.
Some manufacturers are also improving water-borne internal spray coatings that do not contain bisphenol-A (BPA) or bisphenol starting substances and offer more rigorous application properties for the infinitely recyclable aluminum beverage can.
Manufacturers are developing viscosity control technologies for water-based paints, allowing them to cut coating time. This technique is used to develop water-based paints using viscosity control to quickly recover the paint viscosity after coating, which drops during spray coating.
This allows recoating (continuous coating) without pre-drying and reduces coating time (improves productivity). As a result, the technique helps to improve the working environment by increasing the usage of water-based paints.
Big global manufacturers are also collaborating to broaden their portfolios as global pigment manufacturers, including those for electronic displays, cosmetics, coatings, plastics, inks, and specialty applications, by forming a world-class pigment distributor that provides its users with an even broader range of versatile solutions.
On the other hand, water-based release coating for paper and film applications is also being introduced by major global manufacturers. These paints have anti-aging, water-resistance, clarity, and temperature-resistance characteristics.
| Attributes | Details |
|---|---|
| Water-Borne Inks and Paints Market CAGR | 4.3% |
| Water-Borne Inks and Paints Market (2022) | USD 63.10 Billion |
| Water-Borne Inks and Paints Market (2032) | USD 96.13 Billion |
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Solvent-borne paints occupy a major share in the global market, however, with international rules and regulations playing their own cards, the market is set to shift its paradigm towards water-borne paints.
The paint industry is growing at a modest rate after the recent economic recession of the 21st century. Solvent-based paints, used primarily for different types of coatings,captures a very large market volume of paints. However, high cost of solvent-based paints along with stringentregulations imposed by government agencies across the globe are pushing the paint and coatings industryto shift their technology to water-borne paints.
Increasing use of aliphatic hydrocarbons, ketones and aromatic hydrocarbons as solventsisthe major cause of environmental and health concerns. Water-borne solvents areconsidered the best alternative source for paint industries. With almost nil environmental effect, it is seen to streamline the business operations of the paint and coatings industry in the near future.
It is expected that the marketsoperating in the paint and coatings domain will see a moderateCAGR in between 2014 and 2020. The key driving factor behind this vertical surge can be attributed to the fact that end-user applications such as industrial, architecture, wood coatings, packaging, coil coatings, marine protective coatings and aerospace coatings aregrowing at an exponential rate.
Of all these, architecture is the focused area for paint industries. It will determine the growth trajectory of the water-borne paint industry by 2020.
China and India are potential markets for the water-borne paint industry in the Asia-Pacific region. By 2050, it is expected that population in the Asia-Pacific region will increase by 64%. Urbanization will be driven by infrastructure investment to meet the people’s aspirations which in turn will scale the market size of the paint industry in this region.
The Indian government is framing new policies to boost infrastructure across various cities. It has allocated US $ 1.2 billion for the same. It opens a new gate for paint companies for gaining high revenues. It is because of end-user applications in infrastructure that the Indian paint companiesexpect in between 10 to 15% growth in business volume by 2015.
Another largemarket in Asia-Pacific is China. With GDP of China projected to grow over 8%, Chinese government is heavily focused on urbanization.The country has planned to invest US $ 6.8 trillion to develop new cities in its current five years plan. Other potential markets for the water-borne paint industry are Vietnam, Malaysia, Philippines, Taiwan and Japan.
In Latin America, Brazil is set to witness a high growth in infrastructure primarily due to its high GDP growth and considerable investment in infrastructure. It is expected to further accelerate its growth because of its destined venue for the Olympics in 2016. Other potential markets in this region are Argentina and Mexico. Growth in infrastructure is set to scale the paint market vertically upwards in Latin America.
The water-borne paint industry has a bright future in North America. With the US infrastructure reaching itsmaturity, it needs constant renovation to maintain its durability.
Though the paint and coatings market was not flourishing, the industry is expected to review its growth to gain high momentum owing to huge investment in infrastructure maintenance in the future.
In Europe, stringent regulations imposed by REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) are driving the market from solvent-borne paints to water-borne paints. With its historical cities, it fascinates tourists from every corner of the world to have a glance at its monumental buildings. Europe, like the US, too is witnessing a maturity. In the coming years, it will need support from end-user segments, including the paint and coatings industry, to support its monumental heritage.
However, in Europe, a big role will be played by healthcare and automotive sectors. Europe accounts for in between 25 to 30% of the global market share in the paint and coatings segment. The market in Europe seems to be in the doldrums mainly because of its huge market debt and slow economic reforms.
With government policies shifting their need towards water-borne paints and inks, the paint industry is set to be accelerated by water-borne paints in various geographical locations. The US and Europe have already imposed strict regulations and it is expected to be the same in other parts of global region. The water-borne paint industryisset to grow at a moderate CAGR from 2014 to 2019.
It has already penetrated in between 12 to 15% of the global paint market and is set to capture the remaining market share of paints driven by solvent-borne technology, in the coming future. With water-borne paints, the paint and coatings industryis set to witness a high return on investment by 2019.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data.It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
Principal Consultant
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Resin Type 6.2. Application 7. Global Market Analysis and Forecast, By Resin Type 7.1. Acrylic 7.2. Polyurethane 7.3. Epoxy 8. Global Market Analysis and Forecast, By Application 8.1. Packaging 8.2. Automotive 8.3. Architectural 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. Asia Pacific 9.6. Japan 9.7. Middle East and Africa 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. Japan Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Resin Type and Application for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. BASF SE 19.2. The Dow Chemical Company 19.3. AkzoNobel N.V. 19.4. Nippon Paint Holdings Co. Ltd. 19.5. PPG Industries Inc. 19.6. Sherwin-Williams Company 19.7. Axalta Coating Systems
Chemicals & Materials
October 2022
REP-GB-154
250 pages
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Water-Borne Inks and Paints Market
