Water Based Coating Market Report 2025 (Global Edition)

Global Water Based Coating Market Report 2024 Market Size Split by Resin Type (Acrylic, Epoxy, Polyurethane, Polyester, Alkyd, Others), by Application (Building and Construction, Automotive, Industria...

Water Based Coating Market Report Description

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Water Based Coating Market Insights Video

Competitive Landscape of the Water Based Coating Market

The competitive landscape of the Water Based Coating Market is characterized by the presence of several key players who are actively competing to expand their market share through innovation, strategic partnerships, and geographic expansion.

March 2022: BASF expanded its Automotive Coatings application center at Coatings Technology Center in Mangalore (India). This expansion covers 400 square meters of floor area, equipped with several types of equipment, such as electrostatic rotary bell applicators and others. This expansion would help the company design and develop innovative solutions for automotive coatings. (Source: https://www.basf.com/global/en/media/news-releases/2022/05/p-22-235) April 2023 : PPG Industries announced the launch of a new series of water-based coatings that have a lower VOC content as compared to conventional solvent-based coatings. (Source: https://news.ppg.com/press-releases/press-release-details/2020/PPG-launches-low-VOC-waterborne-coating-system-for-China-refinish-market/default.aspx)

Top Companies Market Share in Water Based Coating Industry: (In no particular order of Rank)

• Benjamin Moore & Co.
• Arkema
• Hempel A/S
• BASF SE
• PPG Industries Inc.
• Sika AG
• Teknos Group
• Jotun
• Asian Paints
• AkzoNobel N.V
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Water Based Coating Market

Which Region Dominates the Water Based Coating Market in 2024?

According to Cognitive Market Research, North America's dominance in the Water Based Coating Market is driven by several factors. The region's stringent environmental regulations, such as those enforced by the U.S. Environmental Protection Agency (EPA), have encouraged the adoption of eco-friendly coatings with low volatile organic compounds (VOCs). Additionally, the strong presence of major automotive, construction, and aerospace industries, which are key consumers of water-based coatings, further boosts market demand.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific is the fastest-growing region in the Water Based Coating Market due to rapid industrialization, urbanization, and construction activities across countries like China, India, and Southeast Asia. The booming automotive and electronics industries, coupled with increasing awareness of environmental sustainability, are driving demand for eco-friendly coatings. Additionally, supportive government regulations promoting low-VOC products and the region's expanding manufacturing base contribute to this growth.

The current report Scope analyzes Water Based Coating Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Water Based Coating Market

According to Cognitive Market Research, the global Water Based Coating market size was estimated at USD 58642.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 23457.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Water Based Coating market with a market size of USD 18507.57 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. The nation's stringent environmental regulations.
• The Canada Water Based Coating market had a market share of USD 2814.84 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Canada's stringent environmental regulations.
• The Mexico Water Based Coating market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 2134.59 million in 2024.

Europe Water Based Coating Market

According to Cognitive Market Research, the global Water Based Coating market size was estimated at USD 58642.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 17592.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

• The United Kingdom Water Based Coating market had a market share of USD 2955.58 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. In the UK, Water Based Coating sales witness an upswing due to the nation's stringent environmental policies and a strong commitment to reducing VOC emissions.
• The France Water Based Coating market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 1618.53 million in 2024.
• According to Cognitive Market Research, the German Water Based Coating market size was valued at USD 3483.36 million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. In Germany, Water Based Coating surged due to the stringent environmental policies and a strong commitment to reducing VOC emissions.
• The Italy Water Based Coating market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 1512.98 million in 2024.
• The Russia Water Based Coating market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 2726.88 million in 2024.
• The Spain Water Based Coating market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 1442.61 million in 2024
• The Luxembourg Water Based Coating market is projected to witness growth at a CAGR of 4.6% during the forecast period, with a market size of USD 545.38 million in 2024.
• The Portugal Water Based Coating market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 369.45 million in 2024.
• The Greece Water Based Coating market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 211.11 million in 2024.
• Rest of Europe's Water Based Coating market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 2726.88 million in 2024.

Asia Pacific Water Based Coating Market

According to Cognitive Market Research, the global Water Based Coating market size was estimated at USD 58642.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 13487.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Water Based Coating market size was valued at USD 6069.50 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Water Based Coating surged in China due to the expanding industrial base, urbanization, and increasing awareness of environmental sustainability.
• The Japan Water Based Coating market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 1861.31 million in 2024.
• The India Water Based Coating market had a market share of USD 1618.53 million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. India's expanding industrial base, urbanization, and increasing awareness of environmental sustainability.
• The South Korean Water Based Coating market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 1348.78 million in 2024.
• The Australian Water Based Coating market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 701.36 million in 2024.
• The South East Asia Water Based Coating market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 930.66 million in 2024.
• The Rest of Asia Pacific Water Based Coating market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 957.63 million in 2024.

South America Water Based Coating Market

According to Cognitive Market Research, the global Water Based Coating market size was estimated at USD 58642.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 2932.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Water Based Coating market size was valued at USD 1254.95 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Water Based Coatings flourished in Brazil due to the increasing infrastructure projects and a rising emphasis on environmental sustainability across industries.
• Argentina's Water Based Coating market had a market share of USD 492.60 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. Argentina's increasing infrastructure projects and a rising emphasis on environmental sustainability across industries.
• Colombia Water Based Coating market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 260.96 million in 2024.
• Peru Water Based Coating market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 240.43 million in 2024.
• Chile Water Based Coating market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 211.11 million in 2024.
• The Rest of Latin America's Water Based Coating market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 472.07 million in 2024.

Middle East and Africa Water Based Coating Market

According to Cognitive Market Research, the global Water Based Coating market size was estimated at USD 58642.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 1172.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031..

• The GCC Countries Water Based Coating market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 501.98 million in 2024. Water Based Coating sales flourish due to the ongoing urbanization, infrastructure development.
• The Egypt Water Based Coating market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 123.15 million in 2024.
• The South Africa Water Based Coating market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 185.31 million in 2024. Water Based Coating sales flourish in South Africa due to ongoing urbanization, infrastructure development.
• The Turkey Water Based Coating market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 100.87 million in 2024.
• The Nigeria Water Based Coating market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 123.15 million in 2024.
• The Rest of MEA Water Based Coating market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 138.40 million in 2024.

Water Based Coating Market Analysis

Water Based Coating Market Resin Type Segment Analysis

According to Cognitive Market Research, Acrylic resins dominate due to their versatile application across multiple industries, including automotive, construction, and general industrial sectors. Acrylic resins offer excellent weather resistance, UV stability, and durability, making them ideal for exterior applications. Their ability to adhere to various substrates and provide a long-lasting finish further enhances their dominance.

Polyurethane resins are the fastest-growing segment in the water-based coating market. The rapid growth of polyurethane coatings can be attributed to their superior performance characteristics, such as exceptional abrasion resistance, chemical resistance, and flexibility. These properties make polyurethane coatings highly desirable in industries like automotive, aerospace, and flooring, where durability and resistance to harsh conditions are critical.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Water Based Coating Industry. Request a Free Sample PDF!

Water Based Coating Market Application Segment Analysis

According to Cognitive Market Research, the Building and Construction sector dominates due to the extensive use of these coatings in architectural applications, including both interior and exterior surfaces. The demand for water-based coatings in this sector is driven by their low environmental impact, ease of application, and excellent protective properties against weathering, moisture, and UV exposure.

The Automotive sector is the fastest-growing application in the water-based coating market. This rapid growth is fueled by the automotive industry's shift toward more sustainable and environmentally friendly practices, including the adoption of water-based coatings that reduce VOC emissions and meet stringent environmental regulations.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Water Based Coating Distribution channel Segment Analysis

Water Based Coating Market Distribution channel Segment Analysis

According to Cognitive Market Research, the Offline distribution channel remains dominant, largely due to its established presence and the trust customers place in physical stores and direct suppliers. Professionals in industries like construction, automotive, and industrial applications often prefer purchasing coatings through offline channels where they can receive expert advice, assess the product quality firsthand, and access immediate supply.

The Online distribution channel is the fastest-growing segment in the water-based coating market. The rapid growth of e-commerce and the increasing digitalization across industries have led to a significant shift in purchasing behavior. Customers are increasingly turning to online platforms for convenience, a wider range of product options, competitive pricing, and the ability to compare products easily.

• Online
• Offline

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion