Water-borne Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The market is segmented by Resin (Acrylic, Epoxy, Polyurethane, Polyester, Alkyd, Polyvinylidene Chloride, Polyvinylidene Fluoride, and Other Resins), End-user Industry (Building and Construction, Automotive, Industrial, Wood, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Water-borne Coatings Market Size

Waterborne Coatings Market Summary
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR > 5.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Waterborne Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Water-borne Coatings Market Analysis

The market for water-borne coatings is expected to grow at a CAGR of more than 5.5% during the forecast period. Major factors driving the market studied is increasing demand for building and construction.

  • The development of bio-based products and increasing government support due to VOC emissions is likely to act as an opportunity.
  • Asia-Pacific dominated the market across the globe with the largest consumption in countries such as India, China, etc.

Water-borne Coatings Market Trends

This section covers the major market trends shaping the Water-borne Coatings Market according to our research experts:

Acrylics Segment to Dominate the Market

  • Acrylic-based resins are thermoplastic resins produced by the polymerization of acrylate or methacrylate monomers.
  • Various acrylic resins can also contain vinyl monomers, such as styrene or vinyl acetate, to reduce cost.
  • These resins provide resistance to hydrolysis, good weather resistance, excellent gloss, and color retention, particularly for exterior applications. They also have certain other properties such as transparency, UV resistance, and the high color ability for coating solutions.
  • Acrylic resins find application in solvent-borne paints. Products made by solution polymerization can also lead to the formulation of water-borne acrylic dispersions and powder coatings for architectural applications.
  • These resins are used in water-borne systems to reduce VOC emission. High surface hardness can be achieved with the application of these acrylic resins.
  • They are used in various applications, such as walls, roofs, and decks, where acrylic coatings are used to provide elastomeric finishes so as to improve the UV resistance of the surface.
  • The main application of acrylic coatings is found in the construction industry, for high-finishing in rods, bridges, floors, decks, and others. Other applications of acrylic-based paints and coatings include marine vessels & structures, electrical products, machinery, and other metal products.
  • The water-based coatings is likely to dominate the market based on acrylic resins, owing to less environmental concerns, such as VOC emission, which affect the air quality.
  • All the above factors are likely to increase the demand for the market over the forecast period.
Waterborne Coatings Market : Revenue (%), by Resin Type, Global, 2019

China to Dominate the Asia-Pacific Market

  • China is globally recognized for its architectural boom. The demand for low-cost housing and commercial housing is the reason for its growth in recent years.
  • China’s real estate sector has been growing rapidly with increased investment by the government. The growth in construction is expected to positively affect the paints & coatings market in the country.
  • The investments in the transportation sector increased in the near past. China’s government invested aroundUSD 72billion for constructingtransportation projects, which include railways, highways, waterways, airports, and urban rail.
  • The investment plan would enhance the country’s connectivity between the major cities, which helps for the wider economic and social development of the region.
  • In the automotive industry, the production of commercial vehicles and cars decreases. However, with the growth of electric vehicles, the demand for waterborne coatings islikely to increase.
  • All the aforementioned factors are likely to increase the demand for waterborne coatings over the forecast period.
Waterborne Coatings Market : CAGR by Region, 2020-2025

Water-borne Coatings Industry Overview

The water-borne coatings market is consolidated. Some of the major players in the market include AkzoNobel N.V, Arkema Group, Dow, PPG Industries, Inc., and The Sherwin-Williams Company, among others.

Water-borne Coatings Market Leaders

  1. Arkema Group

  2. Dow

  3. PPG Industries Inc

  4. The Sherwin-Williams Company,

  5. AkzoNobel N.V.

*Disclaimer: Major Players sorted in no particular order

Waterborne Coatings Market Concentration

Water-borne Coatings Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Building and Construction

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Resin Type

      1. 5.1.1 Acrylic

      2. 5.1.2 Epoxy

      3. 5.1.3 Polyurethane

      4. 5.1.4 Polyester

      5. 5.1.5 Alkyd

      6. 5.1.6 Polyvinylidene Chloride (PVDC)

      7. 5.1.7 Polyvinylidene Fluoride (PVDF)

      8. 5.1.8 Other Resin Types

    2. 5.2 End-user Industry

      1. 5.2.1 Building and Construction

      2. 5.2.2 Automotive

      3. 5.2.3 Industrial

      4. 5.2.4 Wood

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AkzoNobel N.V.

      2. 6.4.2 Arkema Group

      3. 6.4.3 Asian Paints Limited

      4. 6.4.4 Axalta Coating Systems, LLC

      5. 6.4.5 BASF SE

      6. 6.4.6 Benjamin Moore & Co

      7. 6.4.7 Berger Paints India Limited

      8. 6.4.8 Dow

      9. 6.4.9 Hempel

      10. 6.4.10 Jotun

      11. 6.4.11 Kansai Paint Co., Ltd.

      12. 6.4.12 KCC Corporation

      13. 6.4.13 Masco Corporation

      14. 6.4.14 Nippon Paint Holdings Co., Ltd.

      15. 6.4.15 PPG Industries, Inc.

      16. 6.4.16 RPM International Inc.

      17. 6.4.17 Shawcor

      18. 6.4.18 Sika AG

      19. 6.4.19 The Sherwin-Williams Company

      20. 6.4.20 Tikkurila

    5. *List Not Exhaustive

    1. 7.1 Development of Bio-based Products

    2. 7.2 Increasing Government Support due to VOC emissions

**Subject to Availability

Water-borne Coatings Industry Segmentation

The water-borne coatings market report includes:

Resin Type
Polyvinylidene Chloride (PVDC)
Polyvinylidene Fluoride (PVDF)
Other Resin Types
End-user Industry
Building and Construction
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Water-borne Coatings Market Research FAQs

The Water-borne Coatings Market is projected to register a CAGR of greater than 5.5% during the forecast period (2023-2028).

Arkema Group, Dow, PPG Industries Inc, The Sherwin-Williams Company, and AkzoNobel N.V. are the major companies operating in the Water-borne Coatings Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia Pacific accounts for the largest market share in the Water-borne Coatings Market.

Water-borne Coatings Industry Report

Statistics for the 2023 Water-borne Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Water-borne Coatings analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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