Based on Geography, the Global Waterborne Acrylic Coating Market is divided into five regions namely— North America, Europe, Asia-pacific, Latin America and Middle East & Africa. Among the aforementioned regions, Asia-Pacific market acquired more than half of the market share in terms of value and volume.
Asia-Pacific market for Waterborne Acrylic Coatings is divided into China, Japan, and India among other Asian and Oceania countries. Comparatively, China dominated the market for Waterborne Acrylic Coatings over other countries in the region accounting for more than half of the consumption of Waterborne Acrylic Coatings in the Asia-Pacific market. Some of the substantial factors attributed to the market growth in China are the increasing consumption of Waterborne Acrylic Coatings across an array of end use industries. On the plus side, the fragmentation of Waterborne Acrylic Coatings Market with small Chinese players operating in the market is attributed to substantial value addition in the Waterborne Acrylic Coatings Market in the country. India is trailing behind China in terms of consumption owing to the immense urbanization and infrastructural developments in the country.
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Overall, the Asia Pacific region witnessed substantial industrial growth in the recent past with prominent manufactures expanding their base to the region with new production facilities, R&D facilities and distributorships etc., which in turn resulted in immense construction and infrastructural developments in the region. Collectively, these factors are some of the prominent factors propelling the demand for Waterborne Acrylic Coatings in the region. A similar trend as Asia Pacific’s is observed across other emerging markets such as Latin America and Middle East & Africa. For instance, increasing building & construction activities in various sectors such as residential, institutional and industrial in the region which is expected to be completed in the coming 8-10 years and the paradigm shift from oil centric business to other manufacturing and service sectors in the region is anticipated to boost the demand for Waterborne Acrylic Coatings in the region.
Regional dominance for production and consumption of Waterborne Acrylic Coatings ranks the North America market as the second largest market for Waterborne Acrylic Coatings. Though the overall coatings market is growing at a slower rate in North America, the demand for eco-friendly coatings market still holds growth opportunities with the increasing norms and need for sustainable coatings in the region, owing to which the Waterborne Acrylic Coatings Market is gaining traction in the North America market. In addition, the housing market and automotive industry in the region is regaining its pace with declined crude oil prices and economic recovery from the past recession. Thus, these factors are pushing the demand for Waterborne Acrylic Coatings in the North America market. Similarly, Europe market is driven by the increasing environmental legislations associated with the VOCs and regained stability of construction industry in the region. Europe accounted for 23.7% of the global market value share in 2016.
The major players profiled in the Global Waterborne Acrylic Coatings Market includes: The Dow Chemical Company, PPG Industries, BASF SE, DIC Corporation, DSM, Nippon Paints Limited and Axalta Coating Systems among others.
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