Waterborne Coatings Market Segmentation by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, and PVDC); and by End User (Construction, Automotive, Industrial Wood, and Others) – Global Demand Analysis & Opportunity Outlook 2031

Buy Now Report ID: 3887 | Published Date: Feb 06, 2023

Global Waterborne Coatings Market Regional Synopsis

Regionally, the global waterborne coatings market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth and acquire notable share over the forecast period on the back of the growing production of automobiles in the region. In September 2021, about 300,000 commercial vehicles and 1.5 million passenger cars were produced in China. The automobile industry manufactured around 1.5 million vehicles more that month as compared to October, 2021. In addition, rise of new industries in Asia ascribing to provision of government tax incentives and low labor costs is also expected to boost the market growth in the region in the coming years. Moreover, the market in Europe is projected to grab the largest share during the forecast period owing to the launch of government initiatives about lowering VOC content in coatings and paints in the region.

Waterborne Coatings Market Share Image

The global waterborne coatings market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Waterborne Coatings Market Graph
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Major Macro-Economic Indicators Impacting the Market Growth

chemicals Graph

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Market Segmentation


Our in-depth analysis of the global waterborne coatings market includes the following segments:

By Resin Type

  • Acrylic
  • Polyester
  • Alkyd
  • Epoxy
  • Polyurethane
  • PTFE
  • PVDF
  • PVDC

By End User

  • Construction
  • Automotive
  • Industrial Wood
  • Others

Growth Drivers

  • Rapidly Rising Urbanization Around the World
  • Growing Preference of Waterborne Coatings in Various End-User Industries


  • High Sensitivity of Waterborne Coatings to Low Temperature and High Humidity

chemicals Graph
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Top Featured Companies Dominating the Market

    • BASF SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • PPG Industries Inc.
    • RPM International Inc.
    • The Sherwin-Williams Company
    • Asian Paints Limited
    • Axalta Coating Systems LLC
    • Nippon Paint Holdings Co. Ltd.
    • Kansai Paint Co. Ltd.
    • Tikkurila OYJ
    • AkzoNobel N.V.


In The News

  • September 2020- PPG launched a new waterborne coating system in China for the refinish market, consisting of an epoxy primer, primer surfacer and clearcoat.

  • September 2020- BASF announced new product line for waterborne basecoats that is claimed to increase the efficiency of body shops and improve their environmental footprint


Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Author Credits:  Smruti Ranjan, Rajrani Baghel

Key Questions Answered in the Report

1) What are the major factors driving the growth of the waterborne coatings market?

Ans: The major factors driving market growth are rapidly rising urbanization around the world, and growing preference of waterborne coatings in various end-user industries.

2) What would be the CAGR of waterborne coatings market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022-2031.

3) What are the challenges affecting the waterborne coatings market growth?

Ans: High sensitivity of waterborne coatings to low temperature and high humidity is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of waterborne coatings market in future?

Ans: Asia Pacific will provide more business opportunities for market growth owing to the growing production of automobiles in the region.

5) Who are the major players dominating the waterborne coatings market?

Ans: The major players in the market are BASF SE, PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company, Asian Paints Limited, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the waterborne coatings market?

Ans: The market is segmented by resin type, end user, and by region.

8) Which segment captures the largest market size in the resin type segment in the waterborne coatings market?

Ans: The acrylic segment is anticipated to hold largest market size and is estimated grow at a robust CAGR over the forecast period and display significant growth opportunities.

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