Waterborne Coatings Market to Surpass USD 119.6 Billion by 2032 with 5.1% CAGR

Waterborne Coatings Market Expands with Rapid Urbanization and Rising Demand for Sustainable Solutions in Construction and Industrial Applications.

AUSTIN, TX, UNITED STATES, February 4, 2025 /EINPresswire.com/ -- The Waterborne Coatings Market Size was valued at USD 72.3 billion in 2023 and is expected to reach USD 119.6 billion by 2032 and grow at a CAGR of 5.1% over the forecast period 2024-2032.

Rising Demand for Eco-Friendly Waterborne Coatings Driven by Urbanization, Construction Growth, and Stringent VOC Regulations Across Key Industries

The rising demand for waterborne coatings in architectural and decorative applications is fueled by increased construction driven by urbanization in developing countries. Growing residential, commercial, and industrial populations are shifting toward eco-friendly coatings with low VOC emissions, boosting the global coatings market. Strict government regulations limiting VOC emissions further enhance the appeal of waterborne coatings, known for their excellent adhesion, corrosion resistance, and ease of application. Their rapid drying times and aesthetic versatility make them ideal for modern infrastructure projects while supporting environmental compliance. Innovations in formulations, particularly in automotive applications, aim to match the performance of solvent-based options sustainably. The demand for waterborne coatings is expected to grow, especially in automotive production and construction in emerging markets in Asia Pacific and the Middle East. Their high-performance and eco-friendly attributes position waterborne coatings favorably across automotive, industrial, and infrastructure sectors.

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Key Players: 

- AkzoNobel NV (Dulux, Sikkens)
- BASF SE (BASF Waterborne Coatings, MasterProtect)
- Axalta Coating Systems LLC (Alesta, Imron)
- Berger Paints India Ltd. (Luxol, Silk Glamor)
- Kansai Paint Co. (Platinum, Opal)
- Nippon Paint Holdings Co. Ltd (Supermatex, Weatherbond)
- PPG Industries Inc. (Pitt-Char, PPG Aquapon)
- RPM International Inc. (Rust-Oleum, Zinsser)
- Sherwin-Williams Company (ProMar, Emerald)
- The Valspar Corp. (Valspar Duramax, Valspar Medallion)
- Tikkurila Oyj (Temalac, Joker)
- Henkel AG & Co. KGaA (Loctite, Teroson)
- Hempel A/S (Hempel Decorative, Hempel Premium)
- Jotun A/S (Jotun Essence, Jotun Super)
- Sika AG (Sikafloor, Sikagard)
- Futura Coatings Ltd. (Futura Eco, Futura Flex)
- Valspar Corp. (Valspar Wood, Valspar Metal)
- Bolidt (Bolidt Flooring, Bolidt Protective Coatings)
- Kraton Polymers (Kraton Polymers - Waterborne, Kraton Polymers - Base)
- Eastman Chemical Company (Eastman Waterborne Coatings, Eastman Tetrashield)

Market Segmentation and Sub-Segmentation Included are:

By Resin Type
- Acrylic
- Polyurethane
- Epoxy
- Alkyd
- Polyester
- PTFE
- PVDC
- PVDF
- Others

Acrylic and Polyurethane Coatings Driving Market Growth

Acrylic resins led the market with a 24% revenue share in 2023, driven by the growing demand for durable, glossy coatings in outdoor applications like infrastructure and automotive. Polyurethane coatings, known for their abrasion resistance and weathering properties, are gaining traction in industries such as transportation, including aircraft, autos, and ships. The shift toward waterborne coatings, driven by stringent government VOC regulations and consumer preference, will continue to boost demand for these products.

By Application
- Architectural
- General Industrial
- Automotive OEM
- Metal Packaging
- Protective Coatings
- Automotive Refinish
- Industrial Wood
- Marine
- Coil

Architectural Sector Leading Waterborne Coatings Demand

In 2023, the architectural segment dominated with a 20% market share, fueled by stringent VOC regulations and increased construction activity in developing regions. The growing use of acrylic-based coatings in industrial applications and innovations like insulation and sound-damping coatings point to expanded market opportunities, broadening the scope for waterborne coatings across multiple sectors.

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Europe's Dominance in the Waterborne Coatings Market

In 2023, Europe captured approximately 40% of the waterborne coatings market, primarily driven by stringent EU VOC regulations that promote sustainable and eco-friendly solutions. The region's strong manufacturing base supports the demand for industry-specific coatings across marine, automotive, and architectural sectors. Major companies like BASF and AkzoNobel are investing heavily in R&D to innovate waterborne technologies that meet performance and sustainability standards. Additionally, the rising consumer preference for luxury goods in the automotive sector further fuels demand for waterborne coatings, particularly in OEM and refinishing applications.

Asia Pacific's Rapid Growth Potential in Waterborne Coatings

The Asia Pacific region, particularly emerging economies like China, India, and Indonesia, is poised for significant growth in the waterborne coatings market due to increasing construction spending on residential and commercial buildings. This growth offers substantial opportunities for waterborne coatings, as they become essential in meeting the demands of the expanding construction sector. Countries such as Indonesia, Malaysia, Thailand, and Vietnam are also expected to see rising demand for these coatings as they enhance their infrastructure and urban development initiatives.

Key Consumer Demographics Driving Growth in the Waterborne Coatings Market

- Residential consumers increasingly prefer eco-friendly and durable waterborne coatings for interior and exterior paints, especially in urban areas.
- Commercial businesses, including retail and hospitality, choose waterborne coatings for their low VOC emissions and maintenance ease.
- Industrial manufacturers in sectors like automotive and aerospace favor waterborne coatings for their corrosion resistance and environmental compliance.
- Governments and institutions adopt waterborne coatings in public projects to meet sustainability goals and green building certifications.
- Automotive OEMs and refinishing professionals opt for waterborne coatings for superior performance and adherence to regulatory standards.

Recent Developments

- May 2023: AkzoNobel launched its eco-friendly Accelstyle™ coatings for aluminum cans, free from bisphenols, styrene, and PFAS, following the BPA-free Accelshield™ 700 for can ends.
- May 2024: Axalta teamed up with Solera to integrate paint systems with Solera's platform, helping body shops estimate their carbon footprint per repair based on various factors.

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