International. According to the Research and Markets report, the global water-based industrial coatings market will grow at a CAGR of 29.5% in the period from 2014 to 2019. The increasing number of infrastructure projects in developing countries has resulted in the high demand for industrial coatings in these regions.
In 2013 in Asia, these coatings were used in new infrastructure development projects; maintenance and repair of existing infrastructure accounted for the remaining consumption.
Developed regions such as North America and Europe consume a large portion of water-based industrial coatings, mainly for maintenance and repair. Economic development in India, China and Brazil has also resulted in the growth of the industries of the electronics and transport countries, which are the main end users of industrial coatings.
The rapid economic development of these countries, especially those of Asia-Pacific, is expected to contribute to the growth of the market. This has led to increased spending on infrastructure development, such as roads, buildings, and water and wastewater networks. There has also been a boom in the construction of commercial and industrial facilities in these countries. The demand for industrial water-based coatings has therefore been expressed around the growing need for asset protection.
