LONDON--Technavio has announced the top six leading vendors in their recent global waterborne coatings market report. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
In 2015, the water-soluble paints segment was the largest product segment of the global waterborne coatings market, accounting for 49.5% market share. These paints are predominantly used in the developed economies, such as the US and Europe because they have low VOC content. These paints are used for coating automotive parts, such as interior body parts to prevent them from corrosion and mechanical stress.
Competitive vendor landscape
The global waterborne coatings market is highly fragmented with the existence of several players. It operates in a highly competitive market. The market is dominated by large global vendors, such as Axalta Coating Systems, Akzo Nobel, BASF, PPG Industries, RPM International, and Sherwin-Williams. These players have a vast geographical presence with huge production facilities located worldwide. Nonetheless, there are a sizeable number of small regional vendors with significant shares in the market.
“While Akzo Nobel led the global paints and coatings market with a share of 16% in 2013, PPG Industries took the lead in the market in 2015 with a share of 17%. The vendors are focusing on increasing their market share through mergers and acquisitions,” says Swapnil Tejveer Sharma, a lead paints, coatings and pigments analyst from Technavio.
The stakeholders in the paints and coatings market are interdependent. Efficient use and proper application of advanced coatings technologies require considerable support services from all the stakeholders. Many vendors in the global paints and coatings market provide support services in addition to manufacturing products. Such services also enhance customer relationships and provide a competitive advantage to vendors in the market.
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Top six waterborne coatings market vendors
The company is one of the leading producers of paints and coatings, globally. It provides wetting agents that increase the hiding power of the pigment. This enables the paint manufacturer to decrease the pigment load, which saves both cost and raw material. The fast wetting properties of its products help in speeding up the mill base step in paint production. Some of the products offered by the company include Berol 185, Berol 048, Ethylan 1008, and Ethylan CDP 1480.
Axalta Coating Systems
Axalta Coating Systems was formerly known as Axalta Coating Systems Bermuda and changed its name to Axalta Coating Systems in August 2014. It became an independent company in February 2013. It offers high-performance coatings for the transportation industry.
BASF provides a wide range of alkyd, polyester, and polyurethane-based waterborne binders. These waterborne binders are used in two-component waterborne epoxy coatings. BASF specialty solvents and additives provide improvements in the shelf-life stability, performance properties, and processability in the waterborne coating sector. The company provides polyester (including alkyds and unsaturated polyester resins), polyurethanes, acrylic and vinyl polymers, epoxies, amino resins, and others. The company provides these resin types to various applications, such as anti-corrosion, automotive, general industry, wood, marine, and others.
PPG Industries is a chemical manufacturing company. The company involves in the manufacture and distribution of specialty materials, coatings, and glass products for customers worldwide. It provides paints, protective and decorative coatings, and glass-related solutions for customers in the industrial, construction, consumer goods, and transportation industries.
The company provides coating solutions to customers in diverse end-user market. This sector involves in the business activities of the aerospace, architecture coatings, marine coatings, industrial coatings, automotive coatings, and other industries.
The company provides various types of coatings for a broad range of industries, such as marine, wood, commercial construction, industrial, safety, and others. The company has more than 100 coating products, such as Waterborne Sanding Sealer and Zinsser, for various end-use applications.
Sherwin-Williams is a provider of advanced paint and coating solution. The company specializes in the development, manufacture, distribution, and sale of paints, coatings, and related products to industrial, professional, commercial, and retail customers.
The company provides coatings primarily in the US and neighboring countries. It is expanding its coatings business in APAC and EMEA by acquiring and integrating more than 20 businesses.
The other prominent vendors are:
- Kansai Paint
- Nippon Paint
All product names, brands and trademarks are the property of their respective owners
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