The latest market report published by Credence Research, Inc. “Global Water-Based Barrier Coatings Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global water-based barrier coatings market has witnessed steady growth in recent years and is expected to grow at a CAGR of 6.30% between 2023 and 2030. The market was valued at USD 5.8 billion in 2022 and is expected to reach USD 8.895305032 billion in 2030.
Water-Based Barrier Coatings Market opportunities are rapidly emerging in response to the growing demand for sustainable and eco-friendly solutions across various industries. These coatings provide an effective barrier against moisture, gases, and other external factors, ensuring product integrity and longevity. In the packaging industry, water-based barrier coatings offer a viable alternative to traditional petroleum-based coatings by reducing carbon emissions and eliminating toxic chemicals from the manufacturing process. Additionally, they enhance recyclability of packaging materials while maintaining excellent printability and visual appeal. With increasing awareness about environmental concerns among consumers, there is a significant shift towards using water-based barrier coatings in food and beverage packaging applications as well.
Driving Factors behind the Water-Based Barrier Coatings Market
Environmental Concerns and Regulations
The tightening grip of global environmental regulations, particularly those relating to Volatile Organic Compound (VOC) emissions, is a significant driver for the water-based barrier coatings market. As governments across the world tighten environmental regulations, the demand for water-based barrier coatings, which emit far fewer VOCs, has surged.
The global focus on sustainability and eco-friendliness has led to a rise in demand for water-based barrier coatings. Many industries are transitioning to these coatings because they are less harmful to the environment and provide superior protection against moisture and contaminants.
Browse 190 pages report Water-Based Barrier Coatings Market By Type (Acrylic, Polyester, Alkyd, Epoxy, Others)– Growth, Future Prospects & Competitive Analysis, 2016 – 2030)- https://www.credenceresearch.com/report/water-based-barrier-coatings-market
Segmentation by Type
Acrylic is the dominant type segment and is expected to post the highest CAGR during the forecast period. On the other hand, the polyester segment is likely to exhibit the fastest CAGR during the same period.
Segmentation by Region
Europe is leading the growth of the water-based barrier coatings industry, holding nearly three-fifths share in 2022. Asia-Pacific and North America collectively accounted for just under 65% share in 2022, with North America holding over 40% share in the same year.
The future of the global water-based barrier coatings market looks bright, with Europe spearheading the growth. As the world continues to navigate towards sustainability, this market’s growth prospects will only intensify. Despite certain challenges, the considerable opportunities the market presents promise substantial advancements in the years to come.
The global water-based barrier coatings market is just one facet of the larger movement towards sustainability. By focusing on its potential and overcoming the challenges it presents, industries across the world can make a significant contribution to environmental preservation, while also achieving their growth objectives.
Key Market Players
The water-based barrier coatings market is highly competitive, featuring several key players, including:
- The Sherwin-Williams Company
- BASF SE
- AkzoNobel N.V.
- PPG Industries Inc.
- RPM International Inc.
- Asian Paints Limited
- Axalta Coating Systems LLC
- Nippon Paint Holdings Co. Ltd.
- Kansai Paint Co. Ltd.
- Tikkurila OYJ
These companies maintain their competitive edge through product innovation, expansion, and strategic mergers and acquisitions.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Water-Based Barrier Coatings Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- Major nations in each region with their import/export statistics
- The global Water-Based Barrier Coatings Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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