Report Description
Waterborne Coatings Market Outlook 2031
The global waterborne coatings market size was valued at USD 84.79 Billion in 2022 and is projected to reach USD 127.10 Billion by 2031, expanding at a CAGR of 4.6% during the forecast period, 2023-2031. The growth of the market is attributed to the rise in applications of waterborne coatings in the industry and residential sectors.
Waterborne coatings are used as surface coatings. The composition of the coatings may vary from each other. These types of coatings are made by mixing pigments and binders with water. Unlike paints, the waterborne coatings contain a minimum number of solvents.
Generally, after the preservation of these coatings, they do not redissolve in water. The waterborne coatings market holds a key share in the coatings industry. The low environmental impact and the recovering economic conditions during the global pandemic have enabled the waterborne coatings market to gain a significant market share.
Waterborne Coatings Market Trends, Drivers, Restraints, and Opportunities
- Raw materials used in the manufacture of waterborne coatings mainly consist of pigments, additives, surfactants, and resins. The raw materials are used to manufacture different types of waterborne coatings, which are then used for varied applications such as industrial wood, marine, automotive, metal packing, and architectural.
- Standards such as Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) by European Union (EU) and those by the US Environment Protection Agency (EPA) regularizes the waterborne coatings market.
- Stringent environmental standards and good economic conditions have contributed to the growth of this industry. Along with this, factors such as the surge in demand for automotive, infrastructure, and architecture have significantly fueled the growth of the market.
- Properties of waterborne coatings such as heat resistance, low flammability, and abrasion have attracted a large customer base.
- Waterborne coatings help in the reduction of air emissions. They do not require thinners or hardeners to be mixed with them. Moreover, the pot life of waterborne coatings is high, hence they can be stored in any sealed container for further use. These factors propel the market.
- Waterborne coatings have a low drying rate in high humidity areas. Additionally, it has a limited coating thickness of up to 1.2 inches. It requires corrosion-resistant equipment. Waterborne coatings are costlier in comparison with solvent-borne coatings. These factors tend to hinder market growth.
- Growth in marine, coil, packing, and wood industries has provided promising opportunities in this industry.
Scope of Waterborne Coatings Market Report
The report on the global waterborne coatings market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
|
Details
|
Report Title
|
Waterborne Coatings Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
|
Base Year
|
2022
|
Historic Data
|
2016–2021
|
Forecast Period
|
2023–2031
|
Segmentation
|
Resin Types (Acrylic, Polyurethane, Epoxy, Alkyd, Polyester, PTFE, PVDC, PVDF, and Others), Applications (Architectural, Automotive, Metal Packaging, Industrial Wood, Marine, Coil, and Others)
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
Key Players Covered
|
BASF SE, Akzo Nobel N.V., RPM International Inc., Sherwin-Williams, Asian Paints, Axalta Coating Systems, LLC, Nippon Paint Holdings Co., Ltd. PPG Industries, Inc, and others
|
Waterborne Coatings Market Segment Insights
Resin Types Segment Analysis
Based on the types of resin, the global waterborne coatings market is bifurcated into acrylic, polyurethane, epoxy, alkyd, polyester, PTFE, PVDC, PVDF, and others. In 2019, the acrylic segment dominated the market, owing to its aesthetic properties and chemical characteristics.
The acrylic coatings are mainly used in infrastructure and automotive due to their gloss retention and high-quality color properties. The acrylic segment is anticipated to dominate the market in the forecast period. After the acrylic segment, the alkyd segment occupies the second position in this market. These waterborne coatings are mostly used in fillers, sealers, and caulks, owing to their flexibility.
Applications Segment Analysis
In terms of applications, the global waterborne coatings market is divided into architectural, automotive, metal packaging, industrial wood, marine, coil, and others. Architectural waterborne coatings shield buildings from harsh climatic conditions such as strong wind, rain, and sunlight.
Hence, the architecture industry is expected to hold a key market share in the forecast period. These coatings are also used in furniture and wall paintings. The growth of the construction industry is expected to have a positive effect on this market.

Regional Analysis
On the basis of regions, the global waterborne coatings market is segmented into Asia-Pacific, North America, Europe, Latin America, and Middle-East & Africa. The market in the Asia Pacific region is expected to grow at a robust CAGR in the coming years.
Growing demand from construction, marine, and automotive industries from developing countries is expected to drive the market in this region. In the Asia Pacific region, it is anticipated that China will lead the demand, due to its high capacity of manufacturing and rising GDP. Rising demand from the automobile sector in Malaysia, Indonesia, Mexico, and Germany is anticipated to expand the market for waterborne coatings.
Segments
The global waterborne coatings market has been segmented on the basis of
Resin Types
- Acrylic
- Polyurethane
- Epoxy
- Alkyd
- Polyester
- PTFE
- PVDC
- PVDF
- Others
Applications
- Architectural
- Automotive
- Metal Packaging
- Industrial Wood
- Marine
- Coil
- Others
Regions
- Asia-Pacific
- North America
- Europe
- South America
- Middle-East & Africa
Key Players
Competitive Landscape
The key market players in this market are BASF SE, Akzo Nobel N.V., RPM International Inc., Sherwin-Williams, Asian Paints, Axalta Coating Systems, LLC, Nippon Paint Holdings Co., Ltd. PPG Industries, Inc, and others.

Table Of Content
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Waterborne Coatings Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Waterborne Coatings Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Waterborne Coatings Market - Supply Chain
4.5. Global Waterborne Coatings Market Forecast
4.5.1. Waterborne Coatings Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Waterborne Coatings Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Waterborne Coatings Market Absolute $ Opportunity
5. Global Waterborne Coatings Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Waterborne Coatings Market Size and Volume Forecast by Types
5.3.1. Acrylic, Polyurethane
5.3.2.
Epoxy
5.3.3.
Alkyd
5.3.4.
Polyester
5.3.5.
PTFE
5.3.6.
PVDC
5.3.7.
PVDF
5.3.8.
Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Waterborne Coatings Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Waterborne Coatings Market Size and Volume Forecast by Applications
6.3.1. Architectural
6.3.2.
Automotive
6.3.3.
Metal Packaging
6.3.4.
Industrial Wood
6.3.5.
Marine
6.3.6.
Coil
6.3.7.
Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Waterborne Coatings Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Waterborne Coatings Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Waterborne Coatings Demand Share Forecast, 2019-2026
8. North America Waterborne Coatings Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Waterborne Coatings Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Waterborne Coatings Market Size and Volume Forecast by Types
8.4.1. Acrylic, Polyurethane
8.4.2.
Epoxy
8.4.3.
Alkyd
8.4.4.
Polyester
8.4.5.
PTFE
8.4.6.
PVDC
8.4.7.
PVDF
8.4.8.
Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Waterborne Coatings Market Size and Volume Forecast by Applications
8.7.1. Architectural
8.7.2.
Automotive
8.7.3.
Metal Packaging
8.7.4.
Industrial Wood
8.7.5.
Marine
8.7.6.
Coil
8.7.7.
Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Waterborne Coatings Demand Share Forecast, 2019-2026
9. Latin America Waterborne Coatings Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Waterborne Coatings Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Waterborne Coatings Market Size and Volume Forecast by Types
9.4.1. Acrylic, Polyurethane
9.4.2.
Epoxy
9.4.3.
Alkyd
9.4.4.
Polyester
9.4.5.
PTFE
9.4.6.
PVDC
9.4.7.
PVDF
9.4.8.
Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Waterborne Coatings Market Size and Volume Forecast by Applications
9.7.1. Architectural
9.7.2.
Automotive
9.7.3.
Metal Packaging
9.7.4.
Industrial Wood
9.7.5.
Marine
9.7.6.
Coil
9.7.7.
Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Waterborne Coatings Demand Share Forecast, 2019-2026
10. Europe Waterborne Coatings Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Waterborne Coatings Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Waterborne Coatings Market Size and Volume Forecast by Types
10.4.1. Acrylic, Polyurethane
10.4.2.
Epoxy
10.4.3.
Alkyd
10.4.4.
Polyester
10.4.5.
PTFE
10.4.6.
PVDC
10.4.7.
PVDF
10.4.8.
Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Waterborne Coatings Market Size and Volume Forecast by Applications
10.7.1. Architectural
10.7.2.
Automotive
10.7.3.
Metal Packaging
10.7.4.
Industrial Wood
10.7.5.
Marine
10.7.6.
Coil
10.7.7.
Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Waterborne Coatings Demand Share Forecast, 2019-2026
11. Asia Pacific Waterborne Coatings Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Waterborne Coatings Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Waterborne Coatings Market Size and Volume Forecast by Types
11.4.1. Acrylic, Polyurethane
11.4.2.
Epoxy
11.4.3.
Alkyd
11.4.4.
Polyester
11.4.5.
PTFE
11.4.6.
PVDC
11.4.7.
PVDF
11.4.8.
Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Waterborne Coatings Market Size and Volume Forecast by Applications
11.7.1. Architectural
11.7.2.
Automotive
11.7.3.
Metal Packaging
11.7.4.
Industrial Wood
11.7.5.
Marine
11.7.6.
Coil
11.7.7.
Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Waterborne Coatings Demand Share Forecast, 2019-2026
12. Middle East & Africa Waterborne Coatings Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Waterborne Coatings Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Waterborne Coatings Market Size and Volume Forecast by Types
12.4.1. Acrylic, Polyurethane
12.4.2.
Epoxy
12.4.3.
Alkyd
12.4.4.
Polyester
12.4.5.
PTFE
12.4.6.
PVDC
12.4.7.
PVDF
12.4.8.
Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Waterborne Coatings Market Size and Volume Forecast by Applications
12.7.1. Architectural
12.7.2.
Automotive
12.7.3.
Metal Packaging
12.7.4.
Industrial Wood
12.7.5.
Marine
12.7.6.
Coil
12.7.7.
Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Waterborne Coatings Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Waterborne Coatings Market: Market Share Analysis
13.2. Waterborne Coatings Distributors and Customers
13.3. Waterborne Coatings Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. BASF SE
13.4.2.
Akzo Nobel N.V.
13.4.3.
RPM International Inc.
13.4.4.
Sherwin-Williams
13.4.5.
Asian Paints
13.4.6.
Axalta Coating Systems LLC
13.4.7.
Nippon Paint Holdings Co. Ltd.
13.4.8.
PPG Industries Inc
13.4.9.
Others