The global water-based coating market revenue was around US$ 72.2 billion in 2023 and is estimated to reach US$ 110.9 billion by 2032 growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2024 to 2032.

Water-based coatings are waterborne coatings, a type of coating formulation where water acts as the key solvent. These coatings have achieved considerable popularity in recent years due to their environmental benefits, enhanced safety profile, and excellent performance characteristics. One of the major properties of water-based coatings is their low volatile organic compound (VOC) content.

Factors Influencing Market Growth

- The rise in demand for better physical infrastructures and the growing requirement for housing along with the higher rate of population growth are anticipated to propel the growth of the water-based coating market.

- An irregular VOC regulation about water-based coatings might restrict the growth of the water-based coating market.

- The thriving construction industry and the high adoption of water-based coating in commercial and industrial infrastructure, are the leading reasons that have augmented the growth of the market.

Regional Analysis

The Asia-Pacific region dominates the global water-based coating market during the forecast period. The demand for high-performance coatings is rising in this region. Water-based coatings deliver excellent durability, protection, and performance characteristics that satisfy the needs of different industries like construction, automotive, and electronics.

Leading Companies

The leading prominent companies profiled in the global water-based coating market are: -

- AkzoNobel N.V.
- Arkema
- Asian Paints
- BASF SE
- Benjamin Moore & Co.
- Hempel A/S
- Jotun
- PPG Industries, Inc.
- Sika AG
- Teknos Group
- Other prominent key players

Segmentation Outline

The global water-based coating market segmentation focuses on Resin Type, Application, and Region.

Segmentation based on Resin Type

- Acrylic
- Epoxy
- Polyurethane
- Polyester
- Alkyd
- Others

Segmentation based on Application

- Building and Construction
- Automotive
- Industrial
- Wood
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa