COVID-19 IMPACT SURVEY MAY 2020
The global market for Stain Resistant Coatings is forecast to reach US$3. 7 billion by 2025, driven by the growing emphasis on quality of exterior coatings. Impressive gains are forecast to come from strong demand in end-use industries, most notably transportation, automotive and construction. Stain-resistant coatings are clear water-proof coatings that are resistant to stain, abrasion, mar UV fading, & atmospheric dust. These coatings are intended to resist contamination of dirt, dust and stains to keep products or surfaces clean and maintaining their appearances for a longer period. Based on their excellent stain resistance, energy efficiency and low maintenance costs, these coatings find extensive use in application across a diverse spectrum of industries, like automotive, cookware, architectural coatings, electronics, transportation and textile softeners. Some of the popular versions of these coatings include PVDF, PTFE, PFA, ETFE and siloxane copolymers. Robust research investments are underway to develop specialty monomers and stabilizers designed to improve anti-stain properties of coatings. Given the health & environment concerns over fluoropolymers in the textile industry, there are lucrative opportunities for the development of non-fluoropolymer coatings with omniphobic stain- resistance qualities. Fluoropolymer-based stain-resistant additives and sealers are finding new uses in construction materials such as paints, caulks and grout. With greater value placed on appearance, stain-proof coatings for automobile body are growing in prominence in the OEM & aftermarket. Also, increasing adoption in architectural coatings and rapid expansion of the electrical & electronics industry are bound to present new growth opportunities. Stain resistant coatings are finding increasing use in the buildings & construction industry due to rising construction activity. On the other hand, strong demand for electrical appliances is expected to propel their use across the electrical & electronics industry.
In addition, factors like rapid industrialization across Asia-Pacific, growth of end-user industries and strong demand from emerging economies are expected to provide a favorable ground for overall expansion of the stain resistant coatings market. In addition, technological innovations and growing R&D activities to develop advanced coatings with new applications are anticipated to create considerable demand for stain resistant coatings. Water-based stain resistant coatings are estimated to experience the fastest growth as a result of implementation of stringent legislations regarding emission of VOCs from paints. Water-based coatings find extensive adoption across the textiles, buildings, medical, and healthcare industries owing to their numerous benefits over other options. These coatings contain low levels of hazardous chemicals like VOCs. In contrast to their solvent-based counterparts, water-based coatings emit fewer organic compounds, are more cost-effective, and eliminate the requirement of hardeners, additives and thinners. These factors are playing a vital role in boosting global demand for water-based stain resistant coatings. A case in point, in industrial wood coatings, there is a shift from traditional solvent-based lacquers and varnishes towards waterborne alternatives due to affordability and attractive durable finish. These materials are easy to repair, dry fast, and exhibit high level of climate tolerance, hence becoming the preferred choice for manufacturers of furniture and kitchen cabinets.