Water Soluble Paints Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

The water soluble paints market is majorly driven by its increasing use in building and construction and automotive sector owing to their good corrosion protection and high gloss properties, over other types. The growing population coupled with the increasing demand for residential and commercial buildings is expected to drive the growth of the market.

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Pigments, resins, and solvents are some of the common raw materials used in the manufacturing of paints. The increasing prices of raw materials results in additional investment in the production process of paints and coatings. In the recent years, the prices of raw materials such as epoxy and titanium dioxide have risen significantly across the globe which has forced the leading paints and coatings producers to increase the prices of their products.

On the basis of type, the water soluble paints market is categorized into polyacrylate-based, polyester-based, alkyd-based, epoxy-based, and epoxy ester-based. Polyacrylate-based dominates the market owing to their good corrosion protection and high gloss properties, over other types.

The water soluble paints are expensive and have low drying rate, they have several advantages such as low toxicity, low VOC emission, and low fire hazard. Recently, the Dow Chemical Company has introduced a product named AVANSE MV-100 and 200 which are primarily used to coat metallic surfaces.

Globally, APAC is the leading region in the water soluble paints market, followed by Europe. The market is also expected to witness growth in the forecast period owing to the growing demand for renovation and repair of commercial buildings, houses, malls, and schools in the region.

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Some of the major players operating in the global water soluble paints market Akzo Nobel N.V., Asian Paints Ltd., Nippon Paint Holdings Co., Ltd., PPG Industries Inc., The Sherwin-Williams Company, Valspar Corporation, Axalta Coating Systems Ltd., Benjamin Moore & Co., Berger Paints India Limited, Brillux GmbH & Co.KG, DAW SE., and EcoProCote.

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