Waterproofing market waterborne coatings will usher in new business opportunities
According to a new study by Global Market Insights, the Market for waterborne coatings will exceed $810 million by 2024, a rare opportunity.
Compared with the current oil-based waterproof coatings, the market scale of water-based coatings is very beneficial to turn to environment-friendly products to reduce the harmful effects on the environment. Industry will be classified as the coating with low VOC and HAP content of environmental protection product, they are the potential risk of damage to mankind and living environment are smaller, thus promoting the market and customer demand for the product. The European commission and the environmental protection agency have strict revision on the VOC content in the coating, and require the use of green technology and the building materials of biological base material support for the security of all the demand and the potential development of waterborne coatings have a positive impact.
First, the construction industry
The industry expects construction applications to grow by more than 5.5%. The improvement of the living standard of customers leads to the increase of renovation, interior decoration and renovation activities of residential and commercial buildings, which will improve the scale of the water-based coating market. In particular, with regard to China's rehabilitation activities and public infrastructure development, government measures and financial assistance should contribute to industrial development.
Then there is the future of the automobile industry
The prospects for applications in the automotive industry are increasingly promising, as vehicle emissions controls have largely set low emission standards in the United States and Europe, which should drive demand for products. These products also provide additional benefits, including protection against bad weather, uv, discoloration and acid rain, thus promoting the need for water-based coatings.
The global water-based coating industry shares are scattered, industry participants include PPG industry, akzo Nobel, visa, cosco kansai, xuanwei, esd and basf, etc. Key industry players have developed measures to expand capacity, adopt new production technologies and expand their distribution networks to other regions.