Waterborne Coatings Market Size Worth USD 98.87 Billion By 2032 | CAGR: 5.5%

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.

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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

Waterborne Coatings Report Scope