water soluble paints market comprises of Asia Pacific, Africa, North America, Europe, Latin America, and the Middle East. The Asia Pacific region is anticipated to direct the water-soluble paints market owing to the increasing demand from the construction and automotive sector.
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The advances witnessed in polycondensation or polymerization have led to the development of a diverse product range for water soluble paints and thus providing the base for future market development. Market reports related to the chemicals and materials industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is on course to achieve an incremental CAGR in the forecast period.
The rise in construction projects that involve residential and commercial structures is providing optimistic prospects for the water soluble paint market. The elevated demand levels from the automotive sector prompted by increased disposable income levels are also transforming the development pace of the market gradually. The low toxicity and low VOC emission from water soluble paints is expected to inspire the market growth in the forecast period constructively.
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Segmental Analysis
The segmentation of the water soluble paints market is carried out on the basis of end-use industries, product type, and region. Based on product type, the water soluble paint market is segmented into alkyd, epoxy, acrylic, polyester, and epoxy esters. The end-user industries segment of the water soluble paints market comprises of automotive, building & construction, furniture making industry, and others. The regions included in the water soluble paints market comprises of regions namely North America, Europe, Latin America, the Middle East, Asia Pacific, and Africa.
Detailed Regional Analysis
The regional analysis of the water soluble paints market comprises of Asia Pacific, Africa, North America, Europe, Latin America, and the Middle East. The Asia Pacific region is anticipated to direct the water-soluble paints market owing to the increasing demand from the construction and automotive sector. The increasing population along with the growing industrialization is the major factor motivating the expansion of the regional market. Moreover, the escalating demand for water soluble paints in the manufacture of wooden furniture is encouraging the growth of the Asia Pacific market. The high demand for water-soluble paints from building, construction and automotive is driving the market in the North American region. The European region is another significant region in the water-soluble paints market owing to mounting sustainable infrastructural activities and automotive industries, particularly in the Western European countries such as France, Italy, the U.K, and others. The Latin American region is anticipated to observe an extensive market development owing to the vast demand for the water-soluble paints from automotive industries primarily located in Mexico. Lastly, the Middle East & African region is expected to display considerable growth due to the mounting demand from infrastructural activities in nations such as Saudi Arabia and the UAE.
Competitive Analysis
The market competitors find themselves in a favorable position with the ability to manage the pace of change. The market shows potential for demonstrating a greater comparative or differential value. The market trends hint at favorable development of the products that can bring in novelty to the product range and address the customer need better. The presence of a productive entity is expected to generate more sales or superior margins compared to its market rivals. The advent of new technology has boosted the growth potential of the market. Substantial cutbacks in administrative finances are bringing further development to the market. The development of a strong value chain is moreover motivating the expansion of the market.
The notable players in the water-soluble paints market are Axalta Coating Systems (U.S.), BASF SE (Germany), Jotun (Norway), Kansai Paint Co. Ltd. (Japan), Asian Paints (India), Nippon Paint Company Limited (Japan), PPG Industries Inc. (U.S.), AkzoNobel N.V. (Netherlands), Rpm International Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Chenyang Waterborne Paint (China), Berger Paints India Limited (India), Tikkurila Oyj (Finland), and Sika AG (Switzerland).
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