(MENAFN- America News Hour)
The global emulsion coatings market is estimated to witness a healthy growth, at an estimated CAGR of over 4%, over the forecast period. The major factors driving the growth of the market studied are soaring demand for water-based coatings and rising building & construction industry in emerging economies.
– Impact of COVID-19 pandemic is likely to hinder the markets growth.
– Market shift towards eco-friendly coatings is likely to create opportunities for the market in the coming years.
– Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
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Key Market Trends
Acrylic Resins to be the Dominant Segment
– Acrylic resins are thermoplastic resins produced by the polymerization of meth acrylic acid esters (methacrylate), or acrylic acid esters (acrylates). Acrylic resins develop properties such as transparency, high color ability, and UV resistance in coating solutions. They are used in waterborne systems very often, which results in low VOC emission.
– Acrylic coatings constitute about 30% of the overall emulsion coatings market. Acrylic emulsion coatings are highly hydrophobic, alkali resistant, corrosion resistance, and durable.
– Due to these characteristic properties, they are used in construction applications, such as tanks, bridges, structural steel, concrete structures, and railcars.
– Furthermore, water-based acrylic coatings are high in demand, owing to environmental concerns, like the negative impact of VOCs affecting the air quality in the environment has been significant growth of emulsion coatings market during the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
– China's 13th Five Year Plan started in 2016 as it was an important year for the country's engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country.
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– China is the largest manufacturer of automobiles in the world. The country's automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
– The production is expected to reach 30 million units by 2020, owing to the“Made in China 2025” initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing.“Automobile Mid and Long-Term Development Plan”, was released in 2017, with an objective to make China a strong auto power in the next ten years.
– Due to all such factors, the market for emulsion coatings in the region is expected to have a steady growth during the forecast period.
The emulsion coatings market is partially consolidated in nature. Some of the major players in the market include AkzoNobel N.V., NIPSEA GROUP, PPG Industries, Inc., RPM International Inc., and The Sherwin-Williams Company, among others.
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Soaring Demand for Water based Coatings
4.1.2 Rising Building & Construction Industry in Emerging Economies
4.1.3 Other Drivers
4.2.1 Impact of COVID-19 Pandemic
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
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