Water-Based Enamel Market: Global Industry Size, Share, Segments Analysis and Forecast 2015-2021
The coating used for external environment in order to improve the wear resistance, the thermal protection, and glazing is known as water-based enamel. It uses water as the solvent medium. Depending upon the formulation requirements, this medium can be waterborne or solvent-borne. Advantages such as quicker low volatile organic compounds (VOC) emissions, quicker drying time, and ease-of-use in its application are provided by water-based enamel. These advantages make them preferable over oil or solvent-based enamel. Water-based enamel provides numerous advantages such as electrical resistivity and insulation, increased life span of the substrate, toughness, low friction, corrosion resistance, abrasion resistance, and thermal protection.
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On the basis of chemicals used, the global water-based enamel market is segmented as polyurethane, styrene butadiene, and acrylic. Based on the end-user industries, the global water-based enamel market is segmented as automotive, construction, ancillaries, furniture, and others. Further, on the basis of application type, the global market is segmented as exterior application and interior application. The exterior application segment is further sub-segmented as railings, windows, and doors. The interior application segment includes floor boards, which require hard surface, opaque and glossy finish.
The global water-based enamel market is anticipated to witness considerable growth in future mainly owing to the increasing demand from various end-user industries such as furniture, construction, and automobile. End-users opting for water-based enamel over oil-based enamel due to stringent regulations regarding chemicals emitting VOCs is also expected to foster the growth of the global water-based enamel market. In addition, rising infrastructural spending and growing construction industry in the emerging markets is impacting the global market growth in a positive way. Difficulties regarding water-based enamel applications in dry and humid conditions may hamper the market growth. Furthermore, water-based enamels do not offer high surface hardness and glossy finish, which is provided by oil-based enamels. Hence, all these factors are expected to have negative impact on the product growth in the near future.
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Asia Pacific is anticipated to be the leading players in the global water-based enamel market mainly owing to increasing product demand from end-use industries such as furniture and construction. Rising infrastructure in this region has resulted in more foreign investments and thus the economy has expanded. In addition, China and India are anticipated to increase industrial coatings demand in Asia Pacific; thus increasing the construction activities. This in turn is may positively impact growth in this region. North America is also expected to witness high demand for water-based enamels as a result of increasing application in furniture and paints & coatings. Growing infrastructure development in the Middle East region is expected to increase the demand for the global water-based enamels in the near future.
Some of the major players dominating the global water-based enamel market are Nippon Paint, PPG Industries Inc., AkzoNobel, Asian Paints, BASF, and The Dow Chemical Company. Other key players influencing the global market are NOROO Paints & Coatings, Taubmans, Sherwin-Williams, Dulux, and Valspar.
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Water-Based Enamel Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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