The Increasing Demand for Environment Friendly Products Is Driving the Water Borne Coating Additives Market – New Report by MicroMarketMonitor
The Asia-Pacific Water Borne Coating Additives market is expected to reach $1,475.0 million by 2018, growing at a CAGR of 8.6% from 2013 to 2018.
The water borne coating additives market is mainly driven by the positive attitude of the government towards environment friendly products. The increasing demand for these products is a result of consumers shift of focus towards a cleaner and greener formulation for their coating and decorative needs. The benefits of a water borne product includes quicker drying times, less smell, and easier cleaning up, with brushes and rollers being able to be rinsed with water rather than white spirit (or other proprietary brush cleaners), making the whole decorating process more environmentally friendly. To some extent, restraints faced by the paint and coating industries hinder the growth of the water borne coating additives market. In addition to stringent environmental regulations, the government is also offering incentives such as tax exemptions and certifications to companies that produce and promote green material.
Browse through the market data tables, figures and detailed ToC on the “Water Borne Coating Additives market”.
Asia-Pacific Water Borne Coating Additives Market:
The Asia-Pacific water borne coating additives market is expected to reach $1,475.0 million by 2018, growing at a CAGR of 8.6% from 2013 to 2018. In terms of the global coating additives consumption, APAC is the largest market in the world, followed by North America and Europe. The Asia-Pacific market is one of the most promising markets for water borne coating additives, both in terms of production as well as consumption. The availability of cheap raw material and labor, coupled with upcoming domestic demand, enables this market to be the most attractive one for industry participants.
European Water Borne Coating Additives Market:
The European water borne coating additives market is expected to reach $527.4 million by 2018, growing at a CAGR of 2.8% from 2013 to 2018. Europe is the third-largest consumer of coating additives globally. In 2011, Europe accounted for 21.6% of the global water borne coating additives consumption. Recently, rising environmental concerns, coupled with waste management issues, have shifted consumer focus towards sustainable and environment friendly products, even for their coating and ornamental requirements. This has eventually resulted in a decrease in the use of water or any VOC in the formulation.
North American Water Borne Coating Additives Market:
The North American water borne coating additives market is expected to reach $990.8 million by 2018, growing at a CAGR of 7.6% from 2013 to 2018. North America is the second-largest consumer of water borne coating additives after Asia-Pacific. This market is driven by strength in segments, including building and construction, automotive, infrastructure spending, and energy. Manufacturers are into developing coating additives which reduce the requirement of water or any VOC in the formulation. These products have witnessed strong growth in the past few years, which is driving manufacturers to develop and launch more and improved products in the market.
South American Water Borne Coating Additives Market:
The South American water borne coating additives market is expected to reach $238.6 million by 2018, growing at a CAGR of 5.8% from 2013 to 2018. South America contributes to a small percentage in terms of the global coating additives consumption. The economic downturn in South America has affected the region’s coating additive market leading to slow volume growth. Reduction in the output of automotive and construction industries in many in South and Central American countries has resulted in decreased demand for coating additives in both industrial and architectural applications.
Middle East and African Water Borne Coating Additives Market:
The Middle East and African water borne coating additives market is expected to reach $147 million by 2018, growing at a CAGR of 8.7% from 2013 to 2018. The construction industry in Saudi Arabia is shrinking due to the ongoing economic crisis. This, in turn, is expected to reduce the demand for coating additives in the country. Added to that, the volume growth in other Middle East and African countries are experiencing a reduction in demand for coating additives, due to the slowdown in their economies.
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