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The market trends of water-soluble paints have seen significant growth and evolution in recent years. Water-soluble paints, also known as water-based paints, have gained popularity due to their eco-friendly nature and low levels of volatile organic compounds (VOCs), making them a preferred choice for both residential and commercial applications.
One prominent trend in the water-soluble paints market is the increasing demand for environmentally friendly products. As awareness of environmental issues grows, consumers are becoming more conscious of the impact of traditional solvent-based paints on air quality and the environment. This has led to a shift towards water-soluble paints, which emit fewer harmful chemicals and have lower levels of VOCs, thus reducing air pollution and improving indoor air quality.
Another trend driving the growth of the water-soluble paints market is the emphasis on sustainability and green building practices. With governments and regulatory bodies implementing stricter environmental regulations, builders and contractors are seeking paint products that meet green building standards and contribute to LEED (Leadership in Energy and Environmental Design) certification. Water-soluble paints, being eco-friendly and non-toxic, align well with these sustainability objectives and are increasingly being specified for construction projects.
Furthermore, advancements in technology have led to improvements in the performance and durability of water-soluble paints, making them comparable or even superior to traditional solvent-based paints. Manufacturers have invested in research and development to formulate water-soluble paints that offer excellent coverage, adhesion, and resistance to fading, cracking, and peeling. These innovations have expanded the application scope of water-soluble paints to include exterior surfaces such as siding, trim, and fences, in addition to interior walls and ceilings.
The growing popularity of water-soluble paints can also be attributed to their ease of use and clean-up. Unlike solvent-based paints, which require harsh chemicals such as mineral spirits or turpentine for thinning and clean-up, water-soluble paints can be diluted and cleaned with water, reducing exposure to harmful substances and simplifying the painting process. This convenience factor appeals to DIY enthusiasts and professional painters alike, driving adoption across various customer segments.
Additionally, the rising demand for decorative and specialty finishes has fueled the expansion of the water-soluble paints market. Manufacturers have introduced a wide range of formulations, including matte, satin, gloss, and metallic finishes, as well as specialty effects such as texture, faux finishes, and chalkboard paint. These diverse options allow consumers to personalize their living spaces and achieve desired aesthetic effects, driving demand for water-soluble paints in the decorative painting segment.
The global shift towards urbanization and infrastructure development has also contributed to the growth of the water-soluble paints market. As cities expand and undergo renovation projects, there is a need for high-quality paints that can withstand the rigors of urban environments, including exposure to pollution, harsh weather conditions, and heavy traffic. Water-soluble paints, with their durability and resistance properties, are well-suited for exterior applications in urban settings, driving demand from construction companies and municipal agencies.
Water-Soluble Paints Market Highlights:
Global Water-Soluble Paints Market Overview
The water-soluble paints market was valued at around USD 54.23 billion in 2030 and is expected to register a CAGR of approximately 3.56% during the forecast period, 2021-2030.
Water-soluble paints are a relatively new class of paints, which use 80% water as a solvent in paints by volume. These paints use water-soluble resins, which are produced by polymerization or polycondensation in an organic medium. Moreover, since water is the major solvent in the formation of these paints, they have better color retention, glossy finish, and are environmentally-friendly. The major factors driving the global water-soluble paints market is the rapid urbanization, expanding building and construction industry, and growing automobile sectors. Stringent government policies have been introduced for reducing the use of volatile organic compounds (VOCs) in paints as they lead to global warming by ozone depletion and also affects the air quality, which leads to various health problems such as nose, eye, and throat irritation, headaches, nausea, and potential damage to kidney, liver, and central nervous system. Water-soluble paints offer several advantages such as low toxicity, low fire hazard, and low VOC content, making them a better alternative compared to conventional solvent-based paints. Thus, making water-soluble paints an opportunistic market during the forecast period.
However, the slow drying rate and an upsurge in the prices for raw materials is expected to hinder the growth of the global water-soluble paints market.
Market Segmentation
The global water-soluble paints market report has been segmented based on material type, application, and region.
Based on material type, the global water-soluble paints market has been segmented into acrylic, polyurethane, polyester, alkyd, epoxy, epoxy esters, and others.
Based on application, the global water-soluble paints market has been classified into residential, commercial, infrastructure, automotive, and others.
Regional Analysis
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regions analyzed under the scope of the water-soluble paints market.
Asia-Pacific was the dominant region in the global water-soluble paints market in 2018 and is expected to dominate the global market during the review period. The growing building & construction industry coupled with the increased standard of living, which has led to an increase in demand for water-soluble paint in the region. Additionally, the increase in per capita disposable income and the growing health-concerns related to conventional solvent-based paints are expected to propel the growth of the water-soluble paints market in the region.
Europe held the second-largest share in the water-soluble paints market in 2018, owing to the stringent government regulations in the region regarding VOCs emissions, compelling the paints and coating manufacturers in the regional market to shift towards production of zero-VOCs paints. According to the European Paints Directive, in 2010, the maximum amount of VOCs content an interior matt paint for walls or ceilings can have is 30g per liter. Owing to these factors, the water-soluble paints market in the region is expected to grow significantly during the forecast period.
The primary factor driving the water-soluble paints market in North America is the growing preference of individuals for water-based paints as they are environmentally friendly and ensure better indoor air quality. Moreover, the region has a strong GDP per capita and individuals who are increasingly becoming concerned about their health. Furthermore, environmental organizations in the region, including the Environmental Protection Agency (EPA), have set stern regulations for VOC usage, fueling the increased need for water-soluble paints in the regional market.
The Middle East & Africa is expected to witness a positive demand for water-soluble paints during the forecast period due to the rapidly growing building & construction sector in the regional market.
The water-soluble paints market in Latin America is expected to witness slow but steady growth during the forecast period owing to the emerging economy of the region.
Key Players
Some of the prominent players in the global water-soluble paints market are AkzoNobel N.V. (Netherlands), Axalta Coating Systems (US), BASF SE (Germany), Berger Paints India Limited (India), Kansai Paint Co., Ltd. (Japan), NIPSEA GROUP (Japan), PPG Industries Inc. (US), Rpm International Inc. (US), The Sherwin-Williams Company (US), Asian Paints (India), Valspar (US), TIKKURILA OYJ (Finland), Chenyang Group Ltd (China), Jotun (Norway), and Sika AG (Switzerland).
Intended Audience:
- Water-soluble paints manufacturers
- Traders and distributors of water-soluble paints
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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