Waterborne Coatings Market Elaborate Analysis with Growth Forecast To 2027
The main growth factors for the global Waterborne Coatings Market are the expansion of building and construction activities as well as infrastructure projects, rising industrial production standards in developing nations, and the requirement for coating goods to be protected.
Impact of COVID-19 on the Global Waterborne Coatings Market. According to our key responses, the effects of COVID-19 are anticipated to last for a while; at worst, the pandemic's effects are anticipated to last until the first quarter of 2022. Companies restructuring their operations and recovering from the effects of COVID-19, which had previously led to restrictive containment measures involving social estrangement, remote work, and the closure of commercial activities, which resulted in operational challenges, are largely responsible for the market's growth.
Environmental laws are driving up demand for VOC-free coatings. One of the most significant trends in the coatings industry over the past few years has been the rise in demand for environmentally friendly features. This trend has been greatly influenced by the strict EU regulations governing the reduction of volatile organic compound (VOC) emissions from coatings. The European Commission and other federal government organisations are implementing new laws and regulations including the Eco-product Certification Scheme (ECS).
A green and sustainable environment is guaranteed by these standards, with little to no toxic VOC emissions. In addition, it is anticipated that government laws in the US and Western Europe, particularly those pertaining to air pollution, would continue to encourage the use of novel, low-pollution coating technologies. The popularity of Waterborne Coatings Market, which contain fewer solvents that evaporate during the curing process than solvent-borne coatings, has gradually increased as a result of growing awareness of the negative impacts of VOC emissions. According to projections, the Asia Pacific region will have the largest and fastest-growing market for waterborne coatings. This can be attributable to the region's fast expanding construction and automobile industry. The market is expanding as a result of the less strict regulations in the area.
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