As per Intent Market Research, the Waterborne Coatings Market was valued at USD 62.8 billion in 2024-e and will surpass USD 84.4 billion by 2030; growing at a CAGR of 5.1% during 2025 - 2030.
The waterborne coatings market is experiencing a robust expansion as industries increasingly prioritize sustainability and environmental regulations. Waterborne coatings, which utilize water as the primary solvent instead of volatile organic compounds (VOCs), are gaining traction due to their eco-friendly nature, compliance with stringent government regulations, and superior performance characteristics. These coatings are widely used in various sectors, including automotive, architectural, industrial, and furniture industries, among others. As the demand for low-VOC and sustainable products grows, waterborne coatings are positioning themselves as the preferred choice across multiple end-use applications.
Acrylic Resin Segment Is Largest Owing To Superior Versatility
In the waterborne coatings market, acrylic resins hold the largest share due to their excellent versatility, durability, and high performance. Acrylic-based coatings are widely used in architectural and industrial applications because they offer good color retention, resistance to environmental factors, and ease of application. They are also cost-effective, which makes them a preferred choice in markets where performance and economy are both crucial. Furthermore, acrylic resins provide enhanced weather resistance, making them ideal for use in outdoor applications, such as architectural coatings and automotive finishes. The growth in construction and renovation projects globally is directly driving the demand for acrylic-based waterborne coatings.
As the demand for eco-friendly and durable coatings increases in both developed and emerging markets, acrylic resins' ability to meet these needs contributes to their dominance. Additionally, the rise in infrastructure development and urbanization in regions like Asia-Pacific further boosts the demand for acrylic-based coatings in the architectural sector.
Water-Based Coatings Technology Is Fastest Growing Owing To Environmental Regulations
Among the various coating technologies, water-based coatings are the fastest growing, driven by increasing environmental regulations and the industry's shift towards sustainability. Water-based coatings use water as the primary solvent, which results in significantly lower VOC emissions compared to solvent-based coatings. This technology is increasingly favored across industries looking to comply with strict environmental regulations, particularly in regions like North America and Europe, where governments are enacting stringent emission standards. The automotive and architectural sectors, which are major consumers of coatings, are leading the adoption of water-based coatings due to their improved environmental performance and cost-effectiveness.
The growing popularity of water-based coatings is supported by their ability to offer good performance characteristics, such as durability, ease of application, and low odor. With the construction industry's rapid growth and the automotive sector's transition towards more sustainable production methods, the demand for water-based coatings is expected to continue rising at a strong pace.
Automotive Coatings Application Is Largest Owing To Robust Demand
The automotive coatings application segment holds the largest market share within the waterborne coatings industry. Waterborne coatings are increasingly being used in automotive manufacturing due to their excellent finish quality, durability, and environmental benefits. The automotive industry’s stringent regulatory requirements regarding VOC emissions have pushed manufacturers to adopt more sustainable coating solutions. Waterborne coatings provide superior protection against corrosion, UV degradation, and wear, making them highly suitable for automotive applications.
As automotive manufacturers worldwide focus on reducing their environmental footprint, the demand for waterborne coatings, especially for exterior and interior automotive parts, continues to grow. The shift towards electric vehicles (EVs) and the emphasis on lightweight designs also contribute to the growing adoption of waterborne coatings in the automotive sector.
Architecture & Construction End-Use Industry Is Fastest Growing Owing To Green Building Trends
The architecture and construction industry is the fastest-growing end-use sector for waterborne coatings, primarily driven by the rising demand for sustainable and energy-efficient building solutions. With the construction industry's increasing focus on green buildings and environmental responsibility, waterborne coatings are becoming the preferred choice due to their low environmental impact, quick drying times, and long-lasting performance. The demand for waterborne coatings in architectural applications is growing as more builders and architects opt for eco-friendly alternatives that meet energy efficiency and sustainability goals.
The global emphasis on reducing carbon footprints and adhering to energy efficiency standards, such as LEED (Leadership in Energy and Environmental Design) certification, has significantly accelerated the growth of waterborne coatings in the construction sector. Additionally, the growing trend towards eco-friendly and low-maintenance buildings further boosts the demand for these coatings in the sector.
Asia-Pacific Region Is Largest Owing To High Industrial Growth
The Asia-Pacific region is the largest market for waterborne coatings, driven by rapid industrialization, urbanization, and increasing consumer demand for eco-friendly products. Countries such as China, India, and Japan are major contributors to the region’s dominance, with significant investments in the automotive, construction, and manufacturing sectors. The construction boom in emerging economies and the automotive industry's shift towards sustainable production methods are fueling the demand for waterborne coatings. The expanding middle class and growing awareness of environmental issues also support the increased adoption of waterborne coatings across various industries.
In addition, government initiatives in the region, such as stricter environmental regulations and incentives for sustainable construction practices, are further propelling the growth of waterborne coatings. As the region continues to prioritize environmental sustainability, the demand for waterborne coatings is set to rise steadily in the coming years.
Leading Companies and Competitive Landscape
Key players in the waterborne coatings market include AkzoNobel N.V., PPG Industries, Sherwin-Williams, BASF SE, and Nippon Paint Holdings Co. Ltd. These companies are investing heavily in research and development to innovate and enhance the performance of waterborne coatings. Strategic collaborations, mergers and acquisitions, and product launches are common strategies used by these companies to maintain their market leadership.
The competitive landscape is marked by increasing consolidation, with major players focusing on expanding their production capabilities, particularly in emerging markets. Additionally, there is a strong emphasis on sustainability and compliance with environmental regulations, which drives innovation in waterborne coating technologies. The market is also seeing the emergence of smaller players who are capitalizing on niche applications, offering customized solutions to meet specific customer needs in sectors such as automotive and architecture.
Recent Developments:
- Sherwin-Williams introduced a new waterborne coating system for industrial applications, improving performance while reducing environmental impact.
- PPG Industries acquired a leading waterborne coatings supplier to expand its portfolio and strengthen its position in the eco-friendly coatings market.
- AkzoNobel has invested in expanding its waterborne coatings production in the Asia-Pacific region to meet growing demand from the automotive and construction industries.
- BASF launched a new line of waterborne automotive coatings designed to provide enhanced durability and a high-quality finish, while reducing environmental impact.
List of Leading Companies:
- PPG Industries, Inc.
- Sherwin-Williams Company
- BASF SE
- Axalta Coating Systems Ltd.
- RPM International Inc.
- Nippon Paint Holdings Co., Ltd.
- Kansai Paint Co., Ltd.
- Jotun A/S
- Asian Paints Limited
- Valspar Corporation
- Hempel A/S
- Sika AG
- Bayer AG
- Borges Chemicals Ltd.
Report Scope:
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Report Features |
Description |
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Market Size (2024-e) |
USD 62.8 Billion |
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Forecasted Value (2030) |
USD 84.4 Billion |
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CAGR (2025 – 2030) |
5.1% |
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Base Year for Estimation |
2024-e |
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Historic Year |
2023 |
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Forecast Period |
2025 – 2030 |
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Report Coverage |
Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments |
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Segments Covered |
Waterborne Coatings Market By Resin Type (Acrylic, Polyurethane, Epoxy, Polyester, Other Resins), By Technology (Solvent-Based Coatings, Water-Based Coatings, UV-Cured Coatings), By Application (Architectural Coatings, Industrial Coatings, Automotive Coatings, Wood Coatings, Marine Coatings), By End-Use Industry (Automotive, Architecture & Construction, Consumer Goods, Industrial Manufacturing, Furniture) |
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Regional Analysis |
North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) |
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Major Companies |
AkzoNobel N.V., PPG Industries, Inc., Sherwin-Williams Company, BASF SE, Axalta Coating Systems Ltd., RPM International Inc., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., Jotun A/S, Asian Paints Limited, Valspar Corporation, Hempel A/S, Sika AG, Bayer AG, Borges Chemicals Ltd. |
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Customization Scope |
Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements |
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1. Introduction |
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1.1. Market Definition |
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1.2. Scope of the Study |
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1.3. Research Assumptions |
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1.4. Study Limitations |
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2. Research Methodology |
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2.1. Research Approach |
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2.1.1. Top-Down Method |
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2.1.2. Bottom-Up Method |
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2.1.3. Factor Impact Analysis |
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2.2. Insights & Data Collection Process |
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2.2.1. Secondary Research |
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2.2.2. Primary Research |
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2.3. Data Mining Process |
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2.3.1. Data Analysis |
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2.3.2. Data Validation and Revalidation |
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2.3.3. Data Triangulation |
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3. Executive Summary |
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3.1. Major Markets & Segments |
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3.2. Highest Growing Regions and Respective Countries |
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3.3. Impact of Growth Drivers & Inhibitors |
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3.4. Regulatory Overview by Country |
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4. Waterborne Coatings Market, by Resin Type (Market Size & Forecast: USD Million, 2023 – 2030) |
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4.1. Acrylic |
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4.2. Polyurethane |
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4.3. Epoxy |
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4.4. Polyester |
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4.5. Other Resins |
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5. Waterborne Coatings Market, by Technology (Market Size & Forecast: USD Million, 2023 – 2030) |
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5.1. Solvent-Based Coatings |
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5.2. Water-Based Coatings |
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5.3. UV-Cured Coatings |
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6. Waterborne Coatings Market, by Application (Market Size & Forecast: USD Million, 2023 – 2030) |
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6.1. Architectural Coatings |
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6.2. Industrial Coatings |
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6.3. Automotive Coatings |
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6.4. Wood Coatings |
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6.5. Marine Coatings |
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6.6. Others |
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7. Waterborne Coatings Market, by End-Use Industry (Market Size & Forecast: USD Million, 2023 – 2030) |
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7.1. Automotive |
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7.2. Architecture & Construction |
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7.3. Consumer Goods |
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7.4. Industrial Manufacturing |
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7.5. Furniture |
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7.6. Others |
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8. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030) |
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8.1. Regional Overview |
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8.2. North America |
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8.2.1. Regional Trends & Growth Drivers |
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8.2.2. Barriers & Challenges |
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8.2.3. Opportunities |
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8.2.4. Factor Impact Analysis |
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8.2.5. Technology Trends |
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8.2.6. North America Waterborne Coatings Market, by Resin Type |
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8.2.7. North America Waterborne Coatings Market, by Technology |
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8.2.8. North America Waterborne Coatings Market, by Application |
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8.2.9. North America Waterborne Coatings Market, by End-Use Industry |
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8.2.10. By Country |
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8.2.10.1. US |
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8.2.10.1.1. US Waterborne Coatings Market, by Resin Type |
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8.2.10.1.2. US Waterborne Coatings Market, by Technology |
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8.2.10.1.3. US Waterborne Coatings Market, by Application |
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8.2.10.1.4. US Waterborne Coatings Market, by End-Use Industry |
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8.2.10.2. Canada |
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8.2.10.3. Mexico |
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*Similar segmentation will be provided for each region and country |
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8.3. Europe |
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8.4. Asia-Pacific |
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8.5. Latin America |
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8.6. Middle East & Africa |
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9. Competitive Landscape |
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9.1. Overview of the Key Players |
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9.2. Competitive Ecosystem |
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9.2.1. Level of Fragmentation |
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9.2.2. Market Consolidation |
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9.2.3. Product Innovation |
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9.3. Company Share Analysis |
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9.4. Company Benchmarking Matrix |
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9.4.1. Strategic Overview |
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9.4.2. Product Innovations |
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9.5. Start-up Ecosystem |
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9.6. Strategic Competitive Insights/ Customer Imperatives |
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9.7. ESG Matrix/ Sustainability Matrix |
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9.8. Manufacturing Network |
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9.8.1. Locations |
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9.8.2. Supply Chain and Logistics |
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9.8.3. Product Flexibility/Customization |
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9.8.4. Digital Transformation and Connectivity |
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9.8.5. Environmental and Regulatory Compliance |
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9.9. Technology Readiness Level Matrix |
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9.10. Technology Maturity Curve |
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9.11. Buying Criteria |
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10. Company Profiles |
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10.1. AkzoNobel N.V. |
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10.1.1. Company Overview |
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10.1.2. Company Financials |
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10.1.3. Product/Service Portfolio |
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10.1.4. Recent Developments |
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10.1.5. IMR Analysis |
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*Similar information will be provided for other companies |
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10.2. PPG Industries, Inc. |
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10.3. Sherwin-Williams Company |
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10.4. BASF SE |
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10.5. Axalta Coating Systems Ltd. |
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10.6. RPM International Inc. |
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10.7. Nippon Paint Holdings Co., Ltd. |
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10.8. Kansai Paint Co., Ltd. |
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10.9. Jotun A/S |
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10.10. Asian Paints Limited |
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10.11. Valspar Corporation |
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10.12. Hempel A/S |
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10.13. Sika AG |
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10.14. Bayer AG |
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10.15. Borges Chemicals Ltd. |
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11. Appendix |
A comprehensive market research approach was employed to gather and analyze data on the Waterborne Coatings Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Waterborne Coatings Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.
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Secondary Research
Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.
Primary Research
Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:
- Validating findings and assumptions derived from secondary research
- Gathering qualitative and quantitative data on market trends, drivers, and challenges
- Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
- Assessing the supply-side landscape, including technological advancements and recent developments
Market Size Assessment
A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Waterborne Coatings Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:
- Identification of key industry players and relevant revenues through extensive secondary research
- Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
- Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources
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Data Triangulation
To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.
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