adhesion, and flexibility of these products compared to its substitutes are an added advantage. Growing market
for copiers, fax machines, computers, and printers are also some of the major drivers for the industrial sector.
In cold climatic condition, adhesive properties of the coatings minimize which a major drawback where its
substitutes have an advantage. However, the industry players have been focusing in research and development
activities to find solution for these. Another factor hampering the growth of the market is excessive foam
production, which occurs mainly in manufacturing and transportation of the coatings.
The gradual shift of the automotive manufacturers to shift their production facilities in owing to the availability
of cheap but skilled labor towards developing economies of Thailand, China, India, and Indonesia is anticipated
to steer growth of the coatings industry.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/waterborne-coatings-market
Resin Insights:
Acrylic resins are the largest coating type consumed in 2014, owing to its wide applications in automotive
refinishes, paints, medical devices, sealants, adhesives and architectural market. End-use industries prefer these
resins owing to the low cost of production with excellent durability and weatherproof properties.
Polyurethane (PU) resins find a wide range of applications in high-quality finishes in indoor and outdoor
coatings. These resins are anticipated to be the fastest growing resin type over the forecast period. The demand
for these resins has expanded for end-use industries such as the coil and automotive markets. They are majorly
used for developing prototypes for motorsports vehicles, light-weighted vehicles, and formula one cars.
Other resins include epoxy and PVC have shown their demand owing to their properties such as weather
resistance, adhesion, and chemical resistance. They have found application in automotive interiors, office
machines body, electrical insulations, and industrial finishes.
Application Insight:
The major application of this market includes general industries, automotive OEM, architectural, protective
coatings, automotive refinish, and industrial (which includes metal furniture, automotive components, and
HVAC). Architectural is the largest application segment and is expected to dominate the industry over the
forecast period. Application of coatings in this segment are lacquers and vanishes, for decoration and protection
of door and window frames.