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Water-Soluble Paints Market Report by Material (Acrylic, Polyurethane, Polyester, Vinylic, Alkyd, Epoxy, Epoxy Esters, and Others), Application (Residential, Commercial, Infrastructure, Automotive, and Others), and Region 2024-2032
Market Report I 2024-07-01 I 149 Pages I IMARC Group
The global water-soluble paints market size reached US$ 27.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 39.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.07% during 2024-2032. The significant growth in the construction industry, extensive research and development (R&D) activities, and rapid advancements in product design and manufacturing processes to improve the performance and durability of water-soluble paints represent some of the key factors driving the market.
Water-soluble paints, or water-based paints, refer to colorants that use water as their primary solvent instead of traditional solvents. They are composed of pigments, binders, additives, and water. Acrylic, polyurethane, polyester, vinylic, alkyd, epoxy, and epoxy esters are some of the commonly used binder materials. Water-soluble paints are widely used for painting walls, floors, ceilings, furniture, plastics, and art and craft applications. They can be applied using brushes, rollers, and sprayers. As compared to traditional solvent-based paints, water-soluble paints are easy to clean up, environmentally friendly, less flammable, have lower levels of volatile organic compounds (VOCs), and offer quick drying time. As a result, they find extensive applications across the residential, commercial, infrastructure, and automotive industries.
Water-Soluble Paints Market Trends:
The significant growth in the construction industry across the globe is one of the key factors creating a positive outlook for the market. In line with this, the increasing renovation and remodeling activities, both in residential and commercial sectors, to refresh the appearance of spaces is acting as another growth-inducing factor. Water-soluble paints are used due to the availability of a wide range of colors and finishes, providing versatility and options for different painting projects. Additionally, the widespread product adoption owing to its smooth consistency and easy-to-clean properties is contributing to the market growth. Apart from this, various product innovations, such as specialty water-soluble paints that are designed for specific applications, such as high-moisture environments like bathrooms and kitchens, are providing an impetus to the market growth. Moreover, the growing awareness about environmental sustainability and the need for eco-friendly products is positively influencing the market growth. Furthermore, manufacturers are focusing on improving the formulation of water-soluble paints to enhance their performance characteristics, such as coverage, durability, color retention, resistance to fading and yellowing, and drying time, which in turn is providing a considerable boost to the market growth. Other factors, including increasing demand for decorative paints, extensive research and advancements to improve the performance and durability of water-soluble paints, the implementation of various government initiatives to use eco-friendly products, and rising demand for low VOC paints to improve indoor air quality, are propelling the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global water-soluble paints market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on material and application.
Material Insights:
Acrylic
Polyurethane
Polyester
Vinylic
Alkyd
Epoxy
Epoxy Esters
Others
The report has provided a detailed breakup and analysis of the water-soluble paints market based on the material. This includes acrylic, polyurethane, polyester, vinylic, alkyd, epoxy, epoxy esters, and others. According to the report, acrylic represented the largest segment.
Application Insights:
Residential
Commercial
Infrastructure
Automotive
Others
The report has provided a detailed breakup and analysis of the water-soluble paints market based on the application. This includes residential, commercial, infrastructure, automotive, and others. According to the report, residential represented the largest segment.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa. According to the report, Asia Pacific was the largest market for water-soluble paints. Some of the factors driving the Asia Pacific water-soluble paints market included extensive research and development (R&D) activities, stringent safety regulations enforced by the regional governments, and rising demand for eco-friendly products.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global water-soluble paints market. Detailed profiles of all major companies have been provided. Some of the companies covered include Akzo Nobel NV, Asian Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Berger Paints Ltd, Brillux GmbH and Co. KG, Chenyang Group Ltd., Diamond Vogel, Dunn-Edwards Corporation (Nippon Paint Holdings Co. Ltd.), Jotun, PPG Industries Inc., The Sherwin-Williams Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global water-soluble paints market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global water-soluble paints market?
What is the impact of each driver, restraint, and opportunity on the global water-soluble paints market?
What are the key regional markets?
Which countries represent the most attractive water-soluble paints market?
What is the breakup of the market based on the material?
Which is the most attractive material in the water-soluble paints market?
What is the breakup of the market based on the application?
Which is the most attractive application in the water-soluble paints market?
What is the competitive structure of the global water-soluble paints market?
Who are the key players/companies in the global water-soluble paints market?
Key Benefits for Stakeholders:
IMARC's report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the water-soluble paints market from 2018-2032.
The research study provides the latest information on the market drivers, challenges, and opportunities in the global water-soluble paints market.
The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the water-soluble paints industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Water-Soluble Paints Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Material
6.1 Acrylic
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Polyurethane
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Polyester
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Vinylic
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Alkyd
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Epoxy
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Epoxy Esters
6.7.1 Market Trends
6.7.2 Market Forecast
6.8 Others
6.8.1 Market Trends
6.8.2 Market Forecast
7 Market Breakup by Application
7.1 Residential
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Commercial
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Infrastructure
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Automotive
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
9.1 Overview
9.2 Drivers
9.3 Restraints
9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Akzo Nobel NV
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.1.4 SWOT Analysis
13.3.2 Asian Paints Ltd.
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.2.4 SWOT Analysis
13.3.3 Axalta Coating Systems Ltd.
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Financials
13.3.3.4 SWOT Analysis
13.3.4 BASF SE
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.4.3 Financials
13.3.4.4 SWOT Analysis
13.3.5 Berger Paints Ltd
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Financials
13.3.5.4 SWOT Analysis
13.3.6 Brillux GmbH and Co. KG
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.7 Chenyang Group Ltd.
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.8 Diamond Vogel
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 Dunn-Edwards Corporation (Nippon Paint Holdings Co. Ltd.)
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.10 Jotun
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.10.3 SWOT Analysis
13.3.11 PPG Industries Inc.
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
13.3.11.3 Financials
13.3.11.4 SWOT Analysis
13.3.12 The Sherwin-Williams Company
13.3.12.1 Company Overview
13.3.12.2 Product Portfolio
13.3.12.3 Financials
13.3.12.4 SWOT Analysis
Figure 1: Global: Water-Soluble Paints Market: Major Drivers and Challenges
Figure 2: Global: Water-Soluble Paints Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Water-Soluble Paints Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Water-Soluble Paints Market: Breakup by Material (in %), 2023
Figure 5: Global: Water-Soluble Paints Market: Breakup by Application (in %), 2023
Figure 6: Global: Water-Soluble Paints Market: Breakup by Region (in %), 2023
Figure 7: Global: Water-Soluble Paints (Acrylic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 8: Global: Water-Soluble Paints (Acrylic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 9: Global: Water-Soluble Paints (Polyurethane) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Water-Soluble Paints (Polyurethane) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Water-Soluble Paints (Polyester) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Water-Soluble Paints (Polyester) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Water-Soluble Paints (Vinylic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Water-Soluble Paints (Vinylic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Water-Soluble Paints (Alkyd) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Water-Soluble Paints (Alkyd) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Water-Soluble Paints (Epoxy) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Water-Soluble Paints (Epoxy) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Water-Soluble Paints (Epoxy Esters) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Water-Soluble Paints (Epoxy Esters) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Water-Soluble Paints (Other Materials) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Water-Soluble Paints (Other Materials) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Water-Soluble Paints (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Water-Soluble Paints (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Water-Soluble Paints (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Water-Soluble Paints (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Water-Soluble Paints (Infrastructure) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Water-Soluble Paints (Infrastructure) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Water-Soluble Paints (Automotive) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Water-Soluble Paints (Automotive) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Water-Soluble Paints (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Water-Soluble Paints (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: North America: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: North America: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: United States: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: United States: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Canada: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Canada: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Asia-Pacific: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Asia-Pacific: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: China: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: China: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Japan: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Japan: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: India: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: India: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: South Korea: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: South Korea: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: Australia: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: Australia: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Indonesia: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Indonesia: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: Others: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: Others: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Europe: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Europe: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Germany: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Germany: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: France: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: France: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: United Kingdom: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: United Kingdom: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Italy: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Italy: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Spain: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Spain: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Russia: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Russia: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Others: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: Others: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: Latin America: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: Latin America: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Brazil: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: Brazil: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Mexico: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Mexico: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Others: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 78: Others: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Middle East and Africa: Water-Soluble Paints Market: Sales Value (in Million US$), 2018 & 2023
Figure 80: Middle East and Africa: Water-Soluble Paints Market: Breakup by Country (in %), 2023
Figure 81: Middle East and Africa: Water-Soluble Paints Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 82: Global: Water-Soluble Paints Industry: Drivers, Restraints, and Opportunities
Figure 83: Global: Water-Soluble Paints Industry: Value Chain Analysis
Figure 84: Global: Water-Soluble Paints Industry: Porter's Five Forces Analysis
Table 1: Global: Water-Soluble Paints Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Water-Soluble Paints Market Forecast: Breakup by Material (in Million US$), 2024-2032
Table 3: Global: Water-Soluble Paints Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 4: Global: Water-Soluble Paints Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 5: Global: Water-Soluble Paints Market: Competitive Structure
Table 6: Global: Water-Soluble Paints Market: Key Players
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