Water-Based Enamel Market Analysis:
Water-based enamel is an acrylic paint that is used to coat external surface to improve resistance to moisture, thermal protection, and varnishing. It is made up of polyurethane, styrene butadiene, and acrylic. It uses water as the solvent medium. Enamel paint is used to define oil-based covering products. Water-based enamels become dry in air into a glossy coating. It offers various advantages, including electrical resistivity & insulation, low friction, toughness, abrasion resistance, corrosion resistance, increased life span of the substrate, and thermal safety. Water-based enamel is widely used in furniture, construction, automobile, ancillaries, and other end-use industries.
COVID-19 scenario analysis:
- Asia-Pacific is extremely affected by the spread of COVID-19 due to the effect of the pandemic in China, Japan, and India. The chemical industry has been highly affected, which led to decrease in demand for water-based enamel.
- Production facilities of electronic components have been halted, owing to the logistics slowdown and unavailability of the workforce across the globe. Various e-commerce companies across the globe have discontinued the delivery of non-essential items (including most of the electronics products), thereby affecting the electronics industry.
- China is expected to be one of the major markets for automotive. Due to COVID-19, China’s automotive market is facing a sharp fall, with obvious impacts for manufacturers of tires, hoses, belts, and other auto parts.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The water-based enamel market is expected to grow significantly due to rise in demand for water-based enamel in the construction industry for outdoor use, such as railings, windows, and doors, as well as interior use, such as floor board, that needs hard surface, solid & glossy finish, and good weather conditions. Whereas, water-based enamel offers a range of benefits, including electrical resistivity & insulation, low friction, toughness, corrosion resistance, enlarged existence of the substrate, and thermal protection that increase the demand for enamel products across the globe.
There is rise in demand for water-based enamel in the furniture industry for various uses, such as cabinets and wooden furniture, due to their low volatile organic compound (VOC) emission and to provide glossy finish with fast drying feature that can be simply cleaned with water. Whereas, the shift of customer’s preference from oil-based enamel to water-based enamel, owing to the emission of VOC and severe conventions against chemicals, is expected to boost the water-based enamel market growth over the coming years. Greater fabrication enactment in extreme circumstances with fewer coating is expected to offer lucrative opportunities for market growth.
However, difficulty associated with water-based enamel in dry and humid conditions is the major challenge that restrains water-based enamel market growth. Furthermore, water-based enamel does not provide greater surface hardness and glossy finish compared to oil-based enamel. The product needs various coats compared to oil-based enamel coats and its quality during application depends on the environment, which also acts as a challenge for the water-based enamel market growth.
Surge in usage of water-based enamel in industrial applications:
Based on region, the global water-based enamel market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific has the largest market share of the water-bases enamel market in terms of revenue, owing to increase in demand for water-based enamel in end-use industries such as furniture and construction. China and India drive the water-based enamel industrial coatings demand in Asia-Pacific due to increase in building and construction activities in the region. Moreover, growth of the automotive industry and rise in income in the region are anticipated to boost the water-based enamel market growth.
Furthermore, North America is expected to witness high demand for water-based enamels due to increase in application in furniture and paints & coatings. Demand for water-based enamel is anticipated to increase in the U.S., Spain, Brazil, India, France, and South Africa, owing to extraordinary infrastructural expansion. Increase in organization expansion in the Middle East is expected to increase the demand for water-based enamel paint products. The paint dries in air into a glossy coating. It offers various benefits over oil or solvent-based enamel that comprises faster low VOC emissions, faster drying time, and ease of use in application. Moreover, several of end-use industries include automotive, construction, ancillaries, and furniture.
Key benefits of the report:
- This study presents the analytical depiction of the water-based enamel market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the water-based enamel market share.
- The current market is quantitatively analyzed to highlight the water-based enamel market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the water-based enamel market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Water-Based Enamel Market Report Highlights
By End Use Industry
Key Market Players
Asian Paints, Nippon Paint, NOROO Paints & Coatings, Valspar, Sherwin-Williams, Taubmans, AkzoNobel, Dulux, PPG Industries Inc., BASF, The Dow Chemical Company