Water resistant coat refers to a water-impermeable object. Water resistant coating helps the objects stay unaffected by water and fights the entrance under certain specified conditions. Such products can be used at specific depths under wet conditions and under water. Functional objects with water resistant coatings are resistant to water and water penetration. Water resistant coatings have several applications in a wide range of industries including automotive, building & construction, chemical and furniture manufacturing. Water resistant coverings often refer to water resistant coats that restricts water movement in its liquid state and possibly under pressure, while humidity proofs refer to moisture resistance or humidity. Water vapor permeation is reported as moisture transmission rate via material or structure.
The water resistant coatings market is expected to grow at a CAGR of 5.5% during the forecast period, owing to factors that include expanding global construction industry, increasing investment in construction renovation activities as well as increasing consumer disposable income. Increasing numbers of key players in the global water-resistant coating industry as well as the emergence of local players, particularly in China and India, are also expected to further boost market growth. However, in the foreseeable years, the threat of substitutes and rising governmental standards on the use of hazardous coatings is expected to hamper overall demand.
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Although increasing investment in R&D activities to produce relatively more advanced water-resistant coatings is a major factor proposing lucrative opportunities for existing players. The need for water resistant coatings increased mainly as the global economy continued to recover and rapidly industrialized. In the coming years, development of unique formulation technologies and products is expected to boost growth of water-resistant coatings market. Additionally, the market for paints and layers is dominated by water resistant layers. The main end users for water-resistant coatings are residential and commercial infrastructure.
The global water resistant coatings market is segmented on the basis of application, property and geography. Based on property, the global water resistant coatings market is segmented into anti-microbial, anti-fouling, anti-corrosion, anti-cleaning and others. Based on application, the global water resistant coatings market is sub-segmented into aerospace, automotive, construction, medical, optical and others. Geographically, the global water resistant coatings market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Major players operating in the global water resistant coatings market include The Valspar Corporation, PPG Industries, Flosilchemical, BASF SE, Sherwin-Williams Company and Dampney Company among others.