Waterbased Coatings Market
infrastructural development , boosted by the increasing disposable income of consumers , Asia Pacific has emerged as the leading contributor to the worldwide water-based coatings market . Analysts expect this regional market to retain its position over the forecast period , rising at a CAGR of 7.0 %. China will lead the water-based coatings market in Asia Pacific over the next few years .
The markets for water-based coatings in Latin America and the Middle East and Africa are also expected to witness strong growth during the forecast period . The rise in economic diversification of the GCC countries and the increasing focus on the commercial sectors such as hospitality , healthcare , and tourism are likely to boost these markets in the near future . On the flip side , North America and Europe are likely to register moderate growth in their respective markets for waterbased coatings over the forthcoming years . Although the revival of the economy in the European Union is likely to provide momentum to the Europe market for water-based coatings , it will present less lucrative prospects than Asia Pacific over the years to come .
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Increasing Infrastructural Developments to Fuel Demand for Waterbased Coatings
“ Infrastructural advancements across the world is having the most prominent impact on the global demand for water-based coatings ,” says the author of the study . With the strengthening of economies , the expenditure on the development of infrastructure has been increasing , globally . A number of new construction projects have begun , which has fueled the need for paints and coatings . Thanks to the growing awareness pertaining to the benefits of eco-friendly coatings , the adoption of water-based coatings has increased remarkably , leading to the rise of the global water-based coatings market .
Going forwards , the increasing implementation of stringent government regulations concerning VOC contents and their negative impact on the environment is projected to boost this market considerably
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