Canada Waterborne Coatings Market Insights Forecasts to 2033

• The Market Size is growing at a CAGR of 5.7% from 2023 to 2033
• The Canada Waterborne Coatings Market Size is expected to hold a significant share by 2033

The Canada Waterborne Coatings Market Size is anticipated to hold a significant share by 2033, growing at a CAGR of 5.7% from 2023 to 2033. The increasing construction activities, rapid industrialization & urbanization, shifting trend towards complete solvent-free coatings, and rising demand from automobile applications are driving the growth of the waterborne coatings market in the Canada.     

Market Overview

Waterborne coatings refer to the surface treatment that uses water as a solvent to disperse resin for making coating or paint. They are simple to apply and are environmentally friendly. The low volatile organic compound (VOC) concentration of waterborne coatings (less than 3.5 pounds per gallon of water) makes them popular. It can be used on plastic substrates and wood (furniture, for example). Canada emerges as a global leader in infrastructure development and innovation. The surging need for innovation and supporting startup investment are significantly contributing to market expansion. Further, the increasing shift towards waterborne paints due to environmental sustainability is offering lucrative market growth opportunities. Further, the surging innovation with improved film properties like dirt pickup resistance and rain resistance is bolstering the market growth for waterborne coatings.

Report Coverage

This research report categorizes the market for the Canada waterborne coatings market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada waterborne coatings market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada waterborne coatings market.

Driving Factors

The increasing construction activities in the country due to government-led initiatives and the rising number of infrastructure projects are significantly driving the market demand for waterborne coatings. In Canada, more than 80 percent of the population lives in metropolitan areas. The rate of urbanization in Canada has been gradually rising in recent years as the country's service industries have expanded. Further, the increasing popularity of solvent-free coatings due to environmental friendliness, safety, and efficiency is driving demand for waterborne coatings. The increasing demand for waterborne coating in automobile applications owing to their excellent physical-chemical properties like high chemical resistance, low-temperature processing, and solvent-free preparations are responsible for driving the market growth.

Restraining Factors

The foam produced during the waterborne technology manufacturing process may cause damage to the environment. This challenging factor is responsible for restraining the market. The high price of waterborne coating due to expensive raw materials and investment required in R&D are contributing to hampering the market growth.

Market Segmentation

The Canada Waterborne Coatings Market share is classified into type and application.

• The acrylic segment is expected to dominate the market during the forecast period.

The Canada waterborne coatings market is segmented by type into acrylic, polyester, alkyd, epoxy, polyurethane, PTFE, PVDC, and others. Among these, the acrylic segment is expected to dominate the market during the forecast period. Characteristics of waterborne acrylic coatings that set them apart from conventional coatings include great adherence, minimal flammability, resilience to heat and abrasion, and the capacity to cover larger areas with less solution. Waterborne acrylic coatings are widely used in the automotive, building, woodworking, construction, and packaging industries.

• The architectural segment accounted for the largest market share during the forecast period.

Based on the application, the Canada waterborne coatings market is divided into architectural and industrial. Among these, the architectural segment accounted for the largest market share during the forecast period. Architectural coatings applied to residential, commercial, or industrial structures for both protective and decorative objectives can use waterborne coatings such as waterborne styrene-acrylic and full acrylic dispersions. The stricter VOC regulations and a rising number of buildings in developing nations driven by increased disposable incomes are responsible for driving the market in the architectural segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada waterborne coatings market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Benjamin Moore & Co.
• PPG Industries, Inc.
• Cloverdale Paint Inc.
• KelCoatings Limited
• Société Laurentide
• The Sherwin-Williams Company
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Waterborne Coatings Market based on the below-mentioned segments:

Canada Waterborne Coatings Market, By Type

• Acrylic
• Polyester
• Alkyd
• Epoxy
• Polyurethane
• PTFE
• PVDC
• Others

Canada Waterborne Coatings Market, By Application

• Architectural
• Industrial