Water-Soluble Paints Market-Overview
The surge in construction activities on a large scale as well as on the local level is likely to spur the water-soluble paint market share. The market's report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. The market is estimated to note a positive CAGR by the conclusion of the forecast period in 2027.
The benefits and features of Water-Soluble Paints are estimated to add to the appeal of the product range in the end user group, thus motivating the water-soluble paint market. The diversification and innovation in the production strategies are estimated to further create an optimistic outlook for the water-soluble paint market in the duration of the forecast period.
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Segmental Analysis
The segmental assessment of the water-soluble paint market is carried out on the basis of material type, application, and region.The application segment of the water-soluble paints market consists of commercial, infrastructure, automotive, and residential.The material type segment of the water-soluble paints market consists of polyurethane, acrylic, polyester, alkyd, epoxy, and epoxy esters. The region segment of the water-soluble paints market consists of Asia Pacific, Latin America, Europe, North America, and the Middle East & Africa.
Regional Overview
The regional appraisal of the water-soluble paints market consists of Asia Pacific, Latin America, Europe, North America, and the Middle East & Africa.The AsiaPacific regional market was the leading region globally and is likely to overlookthe global market progress throughout the review period. The rising building & construction business,combinedwith the amplified standard of living, has directed to an upsurge in demand for water-soluble paint in the Asia Pacific region. The European regional market held the secondchiefstake in the water-soluble paints market due to the strict government guidelines in the region concerning VOCs emissions, inducingthe paints and coating producers in the European regional market to move towards the manufacture of zero-VOCs paints. The main factor propellingthe water-soluble paints market in the North American region is the mounting preference of individuals for water-based paints as they are ecologically friendly and guarantee better indoor air standards. The Middle Eastern& African regional market is anticipated to observean optimistic demand for water-soluble paints throughout the forecast period due to the quickly growing building & construction business in the regional market.
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Industry Updates:
Apr 2021 Chemists have uncovereda cyan blue color that could be utilized as asubstituteforartificial blue food colorings. The color is separatedfrom red cabbage, a vegetable with a multilayeredpurple coloration that's consumedin many food additives. Particularly, it's extractedfrom the vegetables' anthocyanins, a water-soluble color found in anassortment of flowers and fruits, such as aubergine and blueberries, providing their deep purple, red, or blue hues. The investigatorshave developed a method to turn other red cabbage anthocyanins into the wanted blue anthocyanin by means of a specially designed enzyme.
Competitive Analysis
The utilization of a dynamic ecosystem business model is estimated further to improve the chances for developments in the forecast period. The incorporation of pioneering technologies and work processes is likely to spur the global market in the impending period. The market is estimated to be driven by positive aspects of the global demand in the forecast period. The companies are estimated to favor the long-term developments in the coming period to ensure the longevity and sustainability of their businesses. The broadening geographical reach of several companies globally is estimated to propel the market's development in the upcoming period. The financing related to innovations is estimated to take precedence in the business goals set by the various players in the market. The present COVID-19 crisis has encouraged companies to oversee a complete appraisal of business portfolios and make long-overdue operative changes. Companies are also adopting an asset-light model to navigate market conditions.
The notable companies in the water-soluble paints market are Axalta Coating Systems (U.S.), Valspar (U.S.), Chenyang Group Ltd (China), Jotun (Norway), BASF SE (Germany), Berger Paints India Limited (India),AkzoNobel N.V. (Netherlands), Kansai Paint Co., Ltd. (Japan), PPG Industries Inc. (U.S.), Rpm International Inc. (U.S.), NIPSEA GROUP (Japan), The Sherwin-Williams Company (U.S.), Asian Paints (India), TIKKURILA OYJ (Finland), and Sika AG (Switzerland).
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