Latex coatings are water-based paints that provide superior adhesion and durability to surfaces. They are characterized by their flexibility, resistance to yellowing, washability and eco-friendly nature. Latex coatings are widely used in construction activities as well as manufactured goods. They find applications in residential and non-residential construction for painting walls, ceilings and other surfaces. Latex coatings are also used in manufacturing industries to coat metal parts, electrical equipment and furnishings.
The global latex coating market is estimated to be valued at US$ 50.77 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity for use across various end-use industries presents a lucrative growth path for the latex coating market. Latex coatings are increasingly being preferred over conventional solvent-borne coatings in applications such as architectural and industrial coatings due to their low VOC content. Strict environmental regulations regarding VOCs emitted from paints and coatings are driving the replacement of solvent-based technologies with more sustainable water-based latex coatings. Furthermore, the growing construction spending on commercial and infrastructure projects worldwide is augmenting the consumption of latex paints and coatings. Rapid industrialization and manufacturing output in emerging economies also contribute to the demand rise. Thus, the multi-industry applicability of latex coatings ensures steady market expansion over the forecast period.
Porter's Analysis
Threat of new entrants: The latex coating market landscape is mature with few major players having a stronghold over the industry. New entrants face high setup costs due to stringent regulations for manufacturing latex coatings.
Bargaining power of buyers: Customers have moderate bargaining power due to the availability of close substitutes. Prices depend on the quality specifications and volumes being purchased.
Bargaining power of suppliers: Raw material suppliers have moderate to high bargaining power due to the consolidated supplier landscape and price fluctuations of basic chemical feedstocks used in manufacturing latex coatings.
Threat of new substitutes: Substitutes such as oil and solvent-based coatings pose low threat as latex coatings offer superior properties like water resistance and flexibility.
Competitive rivalry: The market witnesses intense competition due to the presence of well-established producers trying to expand their market share through product innovation.
SWOT Analysis
Strengths: Latex coatings provide good functionality, are durable and environmentally friendly.
Weaknesses: Fluctuating raw material prices and low penetration in emerging economies.
Opportunities: Increasing application scope across various end-use industries and potential in developing markets of Asia Pacific and Middle East & Africa.
Threats: Stringent environmental regulations regarding VOCs and easy availability of substitutes.
Key Takeaways
The global Latex Coating Market Growth is expected to witness high growth over the forecast period supported by increasing construction activities globally. The global latex coating market is estimated to be valued at US$ 50.77 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
The Asia Pacific region dominates the market holding over 50% share due to major demand from China, India etc. Growth prospects are promising in the building & construction sector driving major consumption. China, India and other Southeast Asian countries are driving the regional market fueled by rapid urbanization, infrastructure development programs and housing construction projects.
Key players operating in the latex coating market are BMW Group, Daimler, Ford Motor, General Motors, Honda Motor, Hyundai Motor, SAIC Motor, Stellantis, Toyota Motor, Volkswagen Group, and others. These companies focus on developing a wide product portfolio catering to rising demand from various end-use verticals. Research and development activities are being undertaken for launching new bio-based and eco-friendly coating solutions.
For more insights, read- https://www.newsstatix.com/latex-coating-market-trends-size-and-share-analysis/
For more details on the report, Read- https://www.newsstatix.com/immunology-market-trends-size-and-share-analysis-2/
The research report includes specific segments by region (country), by company, by Type and by Application.
This study provides information about the sales and revenue during the historic and forecasted period of 2015 to 2026.
Understanding the segments helps in identifying the importance of different factors that aid the market growth.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/61578/global-paper-coating-latex-2020-371Segment by Type, the Paper Coating Latex market is segmented into:Emulsion TypeSolution TypeSegment by Application:Paper ProcessingFiber & Carpet ProcessingGlass Fiber ProcessingPaints & CoatingsOtherGlobal Paper Coating Latex Market: Regional AnalysisThe Paper Coating Latex market is analysed and market size information is provided by regions (countries).
The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type and by Application segment in terms of sales and revenue for the period 2015-2026.The key regions covered in the Paper Coating Latex market report are:North AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalyRussiaAsia-PacificChinaJapanSouth KoreaIndiaAustraliaTaiwanIndonesiaThailandMalaysiaPhilippinesVietnamLatin AmericaMexicoBrazilArgentinaMiddle East & AfricaTurkeySaudi ArabiaU.A.EGlobal Paper Coating Latex Market: Competitive AnalysisThis section of the report identifies various key manufacturers of the market.
It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market.
