Waterborne Coatings Market Share, Size, Trends, Industry Analysis Report: By Resin Type, Application Industry, and Region

Description

List of Tables

The global waterborne coatings market size is expected to reach USD 98.87 billion by 2032, according to a new study by Polaris Market Research. The report "Waterborne Coatings Market Share, Size, Trends, Industry Analysis Report: By Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC, and Others), Application Industry, and Region; Segment Forecast, 2024-2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Waterborne coatings are gaining traction due to their environmentally sustainable nature and ability to reduce hazardous waste through water-soluble formulations. The growing emphasis on creating healthier environments in residential and commercial spaces, driven by architectural upgrades, is boosting their adoption. Additionally, the demand for high-performance, durable coatings that offer vibrant colors presents new growth opportunities in the market. As industries prioritize eco-friendly solutions, the demand for waterborne coatings is increasing, positively impacting the growth of the waterborne coatings market.

The ability of waterborne coatings to protect construction equipment from corrosion worsened by exposure to dirt, heat, chemicals, and moisture is driving waterborne coatings adoption, leading to the growth of the waterborne coatings market. With expanding construction activities, there is a growing demand for these coatings, prompting manufacturers to innovate and develop specialized solutions.

For instance, in February 2024, Covestro launched a waterborne UV coating family designed for industrial furnishings, cabinetry, and construction equipment. This product not only enhances durability but also improves energy efficiency by 50% through faster drying, reducing reliance on ovens typical of solvent-based applications. Such advancements accelerate the adoption of waterborne coatings, positively impacting the growth of the waterborne coatings market.

Increased investment in manufacturing is fueling the waterborne coatings market by attracting more players. Companies are focusing on advanced production technologies and innovative formulations to meet the rising demand for eco-friendly solutions to improve their product offering, leading to the expansion of the waterborne coatings market.

Waterborne Coatings Market Report Highlights

In terms of resin type, the alkyd segment is anticipated to witness the highest growth during the forecast period due to rising research methods exploring the potential of alkyd-based coating.

Based on application industry, the architectural segment accounted for a larger market share in 2023 owing to the rising remodeling and renovation initiatives.

Asia Pacific is projected to register the highest growth rate during the forecast period, due to rising use of waterborne coatings in architectural and home decor work .

North America dominated the waterborne coating market in 2023 due to owing to the growing adoption of EVs and the expansion in construction activities.

Akzo Nobel, Asian Paints, Axalta Coating Systems, BASF, Benjamin Moore, Berger Paints India, Brillux, and Carpoly Chemical Group are among the key market players.

Polaris Market Research has segmented the waterborne coatings market report on the basis of resin type, application industry, and region:

By Resin Type Outlook (Revenue - USD Billion, 2019-2032)

Acrylic
Polyester
Alkyd
Epoxy
Polyurethane
PTFE
PVDF
PVDC
Others

By Application Industry Outlook (Revenue - USD Billion, 2019-2032)

Architectural
Industrial

By Regional Outlook (Revenue - USD Billion, 2019-2032)

North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Product Code: PM1482

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Waterborne Coatings Market Insights

4.1. Waterborne Coatings Market - Market Snapshot
4.2. Waterborne Coatings Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Stringent Environmental Regulations is driving the market size
  - 4.2.1.2. Increase in Investment in Manufacturing are driving the Waterborne Coatings Market growth
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Cost of End Product
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Waterborne Coatings Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Waterborne Coatings Market, by Resin Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
5.3. Acrylic
- 5.3.1. Global Waterborne Coatings Market, by Acrylic, by Region, 2019-2032 (USD Billion)
5.4. Polyester
- 5.4.1. Global Waterborne Coatings Market, by Polyester, by Region, 2019-2032 (USD Billion)
5.5. Alkyd
- 5.5.1. Global Waterborne Coatings Market, by Alkyd, by Region, 2019-2032 (USD Billion)
5.6. Epoxy
- 5.6.1. Global Waterborne Coatings Market, by Epoxy, by Region, 2019-2032 (USD Billion)
5.7. Polyurethane
- 5.7.1. Global Waterborne Coatings Market, by Polyurethane, by Region, 2019-2032 (USD Billion)
5.8. PTFE
- 5.8.1. Global Waterborne Coatings Market, by PTFE, by Region, 2019-2032 (USD Billion)
5.9. PVDF
- 5.9.1. Global Waterborne Coatings Market, by PVDF, by Region, 2019-2032 (USD Billion)
5.10. PVDC
- 5.10.1. Global Waterborne Coatings Market, by PVDC, by Region, 2019-2032 (USD Billion)
5.11. Others
- 5.11.1. Global Waterborne Coatings Market, by Others, by Region, 2019-2032 (USD Billion)

6. Global Waterborne Coatings Market, by Application

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
6.3. Architectural
- 6.3.1. Global Waterborne Coatings Market, by Architectural, by Region, 2019-2032 (USD Billion)
6.4. Industrial
- 6.4.1. Global Waterborne Coatings Market, by Industrial, by Region, 2019-2032 (USD Billion)

7. Global Waterborne Coatings Market, by Geography

7.1. Key Findings
7.2. Introduction
- 7.2.1. Waterborne Coatings Market Assessment, By Geography, 2019-2032 (USD Billion)
7.3. Waterborne Coatings Market - North America
- 7.3.1. North America: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
- 7.3.2. North America: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.3.3. Waterborne Coatings Market - U.S.
  - 7.3.3.1. U.S.: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.3.3.2. U.S.: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.3.4. Waterborne Coatings Market - Canada
  - 7.3.4.1. Canada: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.3.4.2. Canada: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
7.4. Waterborne Coatings Market - Europe
- 7.4.1. Europe: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
- 7.4.2. Europe: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.4.3. Waterborne Coatings Market - UK
  - 7.4.3.1. UK: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.4.3.2. UK: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.4.4. Waterborne Coatings Market - France
  - 7.4.4.1. France: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.4.4.2. France: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.4.5. Waterborne Coatings Market - Germany
  - 7.4.5.1. Germany: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.4.5.2. Germany: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.4.6. Waterborne Coatings Market - Italy
  - 7.4.6.1. Italy: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.4.6.2. Italy: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.4.7. Waterborne Coatings Market - Spain
  - 7.4.7.1. Spain: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.4.7.2. Spain: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.4.8. Waterborne Coatings Market - Netherlands
  - 7.4.8.1. Netherlands: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.4.8.2. Netherlands: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.4.9. Waterborne Coatings Market - Russia
  - 7.4.9.1. Russia: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.4.9.2. Russia: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.4.10. Waterborne Coatings Market - Rest of Europe
  - 7.4.10.1. Rest of Europe: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.4.10.2. Rest of Europe: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
7.5. Waterborne Coatings Market - Asia Pacific
- 7.5.1. Asia Pacific: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.5.3. Waterborne Coatings Market - China
  - 7.5.3.1. China: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.5.3.2. China: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.5.4. Waterborne Coatings Market - India
  - 7.5.4.1. India: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.5.4.2. India: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.5.5. Waterborne Coatings Market - Malaysia
  - 7.5.5.1. Malaysia: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.5.5.2. Malaysia: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.5.6. Waterborne Coatings Market - Japan
  - 7.5.6.1. Japan: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.5.6.2. Japan: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.5.7. Waterborne Coatings Market - Indonesia
  - 7.5.7.1. Indonesia: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.5.7.2. Indonesia: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.5.8. Waterborne Coatings Market - South Korea
  - 7.5.8.1. South Korea: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.5.8.2. South Korea: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.5.9. Waterborne Coatings Market - Australia
  - 7.5.9.1. Australia: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.5.9.2. Australia: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.5.10. Waterborne Coatings Market - Rest of Asia Pacific
  - 7.5.10.1. Rest of Asia Pacific: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.5.10.2. Rest of Asia Pacific: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
7.6. Waterborne Coatings Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.6.3. Waterborne Coatings Market - Saudi Arabia
  - 7.6.3.1. Saudi Arabia: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.6.3.2. Saudi Arabia: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.6.4. Waterborne Coatings Market - UAE
  - 7.6.4.1. UAE: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.6.4.2. UAE: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.6.5. Waterborne Coatings Market - Israel
  - 7.6.5.1. Israel: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.6.5.2. Israel: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.6.6. Waterborne Coatings Market - South Africa
  - 7.6.6.1. South Africa: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.6.6.2. South Africa: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.6.7. Waterborne Coatings Market - Rest of Middle East & Africa
  - 7.6.7.1. Rest of Middle East & Africa: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.6.7.2. Rest of Middle East & Africa: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
7.7. Waterborne Coatings Market - Latin America
- 7.7.1. Latin America: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.7.3. Waterborne Coatings Market - Mexico
  - 7.7.3.1. Mexico: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.7.3.2. Mexico: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.7.4. Waterborne Coatings Market - Brazil
  - 7.7.4.1. Brazil: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.7.4.2. Brazil: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.7.5. Waterborne Coatings Market - Argentina
  - 7.7.5.1. Argentina: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.7.5.2. Argentina: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)
- 7.7.6. Waterborne Coatings Market - Rest of Latin America
  - 7.7.6.1. Rest of Latin America: Waterborne Coatings Market, by Resin Type, 2019-2032 (USD Billion)
  - 7.7.6.2. Rest of Latin America: Waterborne Coatings Market, by Application, 2019-2032 (USD Billion)

8. Competitive Landscape

8.1. Vendor Landscape
8.2. Expansion and Acquisition Analysis
- 8.2.1. Expansion
- 8.2.2. Acquisitions
8.3. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles

9.1. Akzo Nobel N.V.
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
9.2. Asian Paints Limited
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
9.3. Axalta Coating Systems, Ltd.
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
9.4. BASF SE
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
9.5. Benjamin Moore & Co.
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
9.6. Berger Paints India Ltd.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
9.7. Brillux GMBH & Co. Kg
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
9.8. Carpoly Chemical Group Co., Ltd.
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
9.9. Cloverdale Paint Inc.
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
9.10. Diamond Vogel Paint Company
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
9.11. DuluxGroup Ltd.
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
9.12. Fujikura Kasei Co., Ltd.
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development