Overview and Scope
Water-resistant paint refers to a type of paint that is designed to repel water and resist moisture penetration. This type of paint is commonly used in areas that are frequently exposed to moisture, such as bathrooms, kitchens, and exterior surfaces.
Sizing and Forecast
The water resistant paint market size has grown strongly in recent years. It will grow from $3.43 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increased demand for long-lasting coatings, stringent environmental regulations, a shift from solvent-based to water-based formulations, an increase in disposable income, and innovation in raw materials.
The water resistant paint market size is expected to see strong growth in the next few years. It will grow to $4.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rising demand for sustainable solutions, expansion of the automotive sector, growing demand from industrial applications, a focus on energy efficiency, and urban air quality concerns. Major trends in the forecast period include the expansion of the construction industry, rising awareness of waterproofing solutions, innovation in formulations, expansion of retail channels, and urbanization and infrastructure development.
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Segmentation & Regional Insights
The water resistant paint market covered in this report is segmented –
1) By Type: Acrylics, Polyurethane, Other Types
2) By Distribution Channels: Direct Sales, Hypermarkets Or Supermarkets, Specialty Stores, Online Retailing, Other Distribution Channels
3) By Application: Interior Wall, Exterior Wall, Bathroom, Metal, Furniture, Roof, Other Applications
4) By End User: Commercial Construction, Industrial Facility, Other End Users
North America was the largest region in the water resistant paint market in 2023. The regions covered in the water resistant paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for the automotive sector is expected to propel the growth of the water-resistant paint market going forward. The automotive industry is significantly affected by a need for personal mobility, stable semiconductor supplies, rising per capita income, and urbanization. Water-resistant paint is utilized in the growing automotive sector to protect vehicle exteriors from water damage, corrosion, and other environmental factors by ensuring the durability and longevity of the vehicles. For instance, in December 2022, according to a report published by the Driver and Vehicle Licensing Agency (DVLA), a UK-based government body, the number of licensed vehicles in the UK reached 40.7 million, reflecting a 1.0% increase compared to 2021. Therefore, the growing demand for the automotive sector is driving the growth of the water-resistant paint market.
Key Industry Players
Major companies operating in the water resistant paint market are BASF SE, Sherwin-Williams Company, PPG Industries Inc., AkzoNobel NV, Nippon Paint Holdings Co Ltd., RPM International Inc., KCC Corporation, Axalta Coating Systems Ltd., Valspar Corporation, Asian Paints Limited, Kansai Paint Co Ltd, Shalimar Paints Limited, Jotun group, Hempel A/S, Berger Paints India Limited, DuluxGroup Limited, Benjamin Moore & Co., DAW SE, Rust-Oleum Corporation, Chugoku Marine Paints Ltd., TOA Group, Kelly-Moore Paints, Diamond Vogel Paints, Tnemec Company Inc., Dunn-Edwards Corporation
The water resistant paint market report table of contents includes:
1. Executive Summary
2. Water Resistant Paint Market Characteristics
3. Water Resistant Paint Market Trends And Strategies
4. Water Resistant Paint Market – Macro Economic Scenario
5. Global Water Resistant Paint Market Size and Growth
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32. Global Water Resistant Paint Market Competitive Benchmarking
33. Global Water Resistant Paint Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Water Resistant Paint Market
35. Water Resistant Paint Market Future Outlook and Potential Analysis
36. Appendix
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