Water Resistant Coatings Market Size, Share Report, Analysis, Trends, Growth 2032

Water Resistant Coatings Industry Prospective:

The global water resistant coatings market size was evaluated at $17.24 billion in 2023 and is slated to hit $24.57 billion by the end of 2032 with a CAGR of nearly 4.02% between 2024 and 2032.   

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Water Resistant Coatings Market: Overview

Water resistant coatings are protective substances that are applied to various surfaces to make them resistant to moisture, water, and other liquids. These products find a slew of applications in various end-use sectors such as marine, construction, automotive, and electronics for preventing corrosion, mold growth, and material degradation. Water-resistant coatings prove to be a key in protecting products & buildings from the damaging effects of water exposure. Reportedly, they form a hydrophobic layer keeping out moisture along with preventing corrosion and various other kinds of degradation.

Key Insights

• As per the analysis shared by our research analyst, the global water resistant coatings market is projected to expand annually at the annual growth rate of around 4.02% over the forecast timespan (2024-2032)
• In terms of revenue, the global water resistant coatings market size was evaluated at nearly $17.24 billion in 2023 and is expected to reach $24.57 billion by 2032.
• The global water resistant coatings market is anticipated to grow rapidly over the forecast timeline owing to an increase in construction activities along with the rise in vehicle production.
• In terms of type, the acrylics segment is slated to register the highest CAGR over the forecast period.
• Based on application, the roofing segment is predicted to contribute majorly towards the global industry share in the upcoming years.
• Region-wise, the North American water resistant coatings industry is projected to register the fastest CAGR during the projected timespan.

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Water Resistant Coatings Market: Growth Factors

Thriving construction sector & surging automotive manufacturing to boost global market trends

An increase in construction activities along with a rise in vehicle production is likely to provide impetus to the expansion of the global water resistant coatings market. Escalating awareness about the benefits offered by water-resistant coatings is expected to steer the growth of the global market. Product manufacturers are highlighting innovations for enhancing the durability, performance, and sustainability of coatings, thereby fulfilling the requirements of the business.

Apart from this, large-scale application of nanotechnology in preparations of coating as well as the development of self-cleaning coatings will drive the growth of the global market. A massive need to offer durable and protective solutions in the aerospace, electronics, construction, and automotive sectors will boost the global market trends.

Water Resistant Coatings Market: Restraints

A surge in the costs of products can restrict the growth of the global industry over the forecast period

A rise in product costs along with an increase in import duties has resulted in a massive decimation of the global water resistant coatings industry surge.

Water Resistant Coatings Market: Opportunities

Escalating demand for improving adhesiveness and resistance of product can open new growth opportunities for the global market  

To achieve the best performance characteristics, water-resistant coatings make use of cutting-edge materials & technologies including nanotechnology, polymers, and resins. This, in turn, has translated into massive expansion of the global water resistant coatings market. Growing demand for improving the adhesiveness, resistance, and flexibility of the product to climatic influences has encouraged the penetration of the product across various end-use sectors, thereby driving global market expansion.

Water Resistant Coatings Market: Challenges

Scarce access to raw materials can challenge the growth of the global industry by 2032

Supply chain disruptions and scarce availability of raw materials due to political upheavals and conflicts as well as due to changing & non-uniformity in global trade laws can challenge the growth of the water resistant coatings market globally.

Water Resistant Coatings Market: Segmentation

The global water resistant coatings market is divided into type, application, and region.                                         

In type terms, the water resistant coatings market across the globe is bifurcated into acrylics and polyurethane segments. Additionally, the acrylics segment, which acquired nearly 50% of the global market earnings in 2023, is expected to register the fastest annual rate of growth in the forecast timespan. The expansion of the segment in the next eight years can be a result of a prominent increase in the use of acrylics as water resistant coatings in various end-use sectors.

Based on the application, the global water resistant coatings industry is divided into roofing and wall segments. Moreover, the roofing segment, which gathered nearly 53% of the global industry earnings in 2023, is anticipated to make huge contributions towards the global industry proceeds over the analysis timeframe. The growth of the segment in the ensuing years can be owing to the massive use of water resistant coatings in roofing in underdeveloped and emerging economies owing to the rise in the leakage from roofs in these countries. Apart from this, the rise in the renovation of roofing in developed countries has contributed majorly towards the use of water resistant coatings, thereby further spurring segmental growth.

Water Resistant Coatings Market: Report Scope

Water Resistant Coatings Market: Regional Insights

Asia-Pacific is expected to maintain the in the global market domination in the forecasting years

Asia-Pacific, which accumulated nearly 40% of the global water resistant coatings market share in 2023, is slated to establish a leadership position in the global market in the years ahead. In addition to this, the regional market surge in the coming decades can be subject to a rise in the use of water resistant coatings in the roofing and walls to prevent leakage of water. Moreover, a rise in the product demand in residential and commercial buildings in emerging economies such as India, Bangladesh, China, Indonesia, and Thailand will further boost the scope of the regional market demand. Additionally, the huge presence of key manufacturers in the region will account humongous for the regional market size.

The North American water resistant coatings industry is anticipated to register the fastest growth rate annually during the forecast timespan. The rapid progression of the industry in North America over the analysis period can be ascribed to the easy availability of raw materials in countries such as the U.S. Apart from this, a prominent surge in the allocation of funds by government & private players in research activities for developing eco-friendly products will further steer the expansion of the industry in the region.

Key Developments

• In February 2024, Covestro declared that it is creating waterborne coating solutions for industrial coating applications including cabinetry and wood furniture. 
• In the first half of 2021, Hubergroup Print Solutions introduced a barrier coating that offers protection against water.
• In January 2024, Wanhua Chemical introduces a new waterproof polyether for the coatings sector. The move will boost the growth of water resistant coatings market across the globe.
• In the first quarter of 2024, Sherwin-Williams introduced SHER-WOOD® EA Hydroplus™ Water-Based Wood Coating, an innovative water-based wood coating providing improved adaptability in various environmental conditions.

Water Resistant Coatings Market: Competitive Space

The global water resistant coatings market profiles key players such as:

• Oriental Yuhong
• Henkel
• Berger Paints
• Sherwin-Williams
• Carpoly
• SIKA
• PAREX
• Mapei
• BASF SE
• RPM
• Polycoat Products
• Keshun
• The 3M Company
• Guangdong Yu Neng
• AkzoNobel.

The global water resistant coatings market is segmented as follows:

By Type

• Acrylics
• Polyurethane

By Application

• Roofing
• Wall

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa