Water-Based Coating Binders Market By Application (Architectural Coatings, Industrial Coatings, Automotive Coatings, Protective Coatings, Marine Coatings), By Type (Acrylic Coating Binders, Polyurethane Coating Binders, Epoxy Coating Binders, Polyester Coating Binders), By Form (Liquid Coating Binders, Powder Coating Binders), By End-Use Industry (Construction, Automotive, Industrial Manufacturing, Marine, Oil & Gas), and By Region; Global Insights & Forecast (2023 – 2030)

Published: January, 2025  
|   Report ID: CM6424  
|   Chemicals and Material

As per Intent Market Research, the Water Based Coating Binders Market was valued at USD 9.0 billion in 2024-e and will surpass USD 14.6 billion by 2030; growing at a CAGR of 7.2% during 2025 - 2030.

The water-based coating binders market is poised for growth, driven by the increasing demand for sustainable and environmentally friendly solutions across various industries. Coating binders, especially those that are water-based, offer a variety of benefits, including lower volatile organic compound (VOC) emissions, ease of application, and reduced environmental impact. This has made them a preferred choice in industries like construction, automotive, industrial manufacturing, and marine, where coating durability and performance are paramount. As regulations surrounding VOC emissions become stricter, the shift towards water-based binders is expected to accelerate, making this a pivotal segment in the global coatings market.

Application Segment is Largest Owing to Architectural Coatings

Among the application segments, architectural coatings hold the largest share in the water-based coating binders market. The demand for architectural coatings is driven by the constant need for protective and decorative finishes in residential, commercial, and infrastructure projects. Water-based binders in architectural coatings offer superior durability, weather resistance, and ease of application, which makes them an ideal choice for both interior and exterior applications. These coatings also align with the growing emphasis on sustainability, as they emit lower levels of harmful VOCs compared to solvent-based alternatives, thus contributing to healthier indoor environments and reduced environmental impact.

The rapid urbanization and construction boom, particularly in emerging markets, are fueling the demand for architectural coatings. Additionally, with the increasing focus on green building standards and eco-friendly construction materials, water-based binders are becoming the standard in the industry. The ability to produce coatings that are both high-performing and environmentally responsible is a key factor driving the dominance of the architectural coatings segment in the water-based binder market.

Type Segment is Fastest Growing Owing to Polyurethane Coating Binders

In the type segment, polyurethane coating binders are the fastest-growing subsegment. Polyurethane binders offer excellent flexibility, abrasion resistance, and chemical stability, making them highly suitable for demanding applications in industries such as automotive, industrial manufacturing, and flooring. These binders also provide enhanced durability in extreme environments, such as high humidity or temperature fluctuations, which further boosts their adoption in diverse coating formulations. Additionally, the growing demand for high-performance, long-lasting coatings in automotive and industrial sectors is propelling the rise of polyurethane-based coatings.

The versatility and performance of polyurethane binders are particularly valued in high-end applications such as automotive coatings, where the need for scratch resistance, durability, and aesthetic appeal is crucial. As the automotive and industrial sectors continue to seek advanced, durable coatings, the market for polyurethane-based waterborne binders is expected to expand at a rapid pace, contributing to its position as the fastest-growing subsegment in the type category.

Form Segment is Largest Owing to Liquid Coating Binders

In the form segment, liquid coating binders dominate the market. Liquid binders are favored due to their ease of application, uniform coverage, and compatibility with various coating formulations. These binders are primarily used in a wide range of industries, including construction, automotive, and industrial manufacturing, to create protective and decorative coatings. The liquid form allows for smooth application over large areas and is ideal for both brush and spray techniques, making it highly versatile for various coating applications.

The large-scale adoption of liquid coating binders can be attributed to their efficiency in the production process and their ability to deliver coatings that meet stringent performance standards. Liquid binders are also easier to transport and store, as they do not require complex storage conditions like some powder-based alternatives. With the growing demand for coatings that are easy to apply and provide long-lasting protection, liquid binders are expected to maintain their leading position in the market.

End-Use Industry Segment is Fastest Growing in Automotive

In the end-use industry segment, automotive is the fastest-growing subsegment for water-based coating binders. The automotive industry is rapidly shifting toward sustainable practices, and water-based binders are gaining popularity due to their low environmental impact, excellent performance, and compliance with stringent emission standards. These binders are used in a variety of automotive coatings, including basecoats, topcoats, and primers, offering superior resistance to weathering, abrasion, and corrosion.

The automotive sector is under increasing pressure to adopt greener technologies and reduce the environmental impact of production processes. Waterborne binders in automotive coatings help manufacturers meet both performance and environmental standards. With the continuous growth of electric vehicles (EVs) and the ongoing trend towards sustainable automotive manufacturing, water-based binders are expected to play a critical role in meeting the evolving needs of the automotive industry, driving the rapid growth of this segment.

Region Segment is Largest in North America

Regionally, North America holds the largest share of the water-based coating binders market. The region is home to some of the most developed industries, including automotive, construction, and manufacturing, where the demand for high-quality, sustainable coatings is strong. The regulatory environment in North America, particularly in the United States, has increasingly favored low-VOC coatings, creating a significant push toward water-based binders. As a result, the adoption of waterborne binders has been widespread across several industries, including automotive and construction.

In addition, North America’s robust infrastructure, technological advancements, and strong presence of leading companies in the coatings sector contribute to the region’s market dominance. The growing trend of environmentally friendly practices, along with government regulations pushing for lower emissions, is further promoting the demand for water-based coatings in North America. With ongoing industrial development and stringent environmental standards, the region is expected to continue leading the market in the coming years.

Leading Companies and Competitive Landscape

The water-based coating binders market is highly competitive, with several prominent players leading the industry. Companies like BASF SE, Dow Chemical Company, AkzoNobel N.V., PPG Industries, and The Sherwin-Williams Company are at the forefront of innovations in water-based coatings. These companies are investing heavily in research and development to enhance the performance and sustainability of their products. Many are also focused on expanding their product portfolios through mergers, acquisitions, and partnerships to strengthen their position in the market.

The competitive landscape is also shaped by regional players who cater to specific market needs, particularly in emerging economies where infrastructure development and industrialization are driving growth. In order to stay ahead of competition, companies are focusing on improving product quality, offering eco-friendly solutions, and providing customization for specific industries. Additionally, the rise in demand for sustainable, high-performance coatings is pushing companies to innovate continuously, making the market dynamic and competitive

Recent Developments:

  • AkzoNobel announced the launch of a new range of water-based coating binders for industrial applications, focusing on improved durability and eco-friendly properties.
  • BASF SE recently expanded its water-based binder product line with the introduction of advanced acrylic dispersions designed for high-performance architectural coatings.
  • PPG Industries Inc. entered into a partnership with a leading automotive company to develop new waterborne coatings that offer superior protection and environmental benefits.
  • Sherwin-Williams received regulatory approval for a new water-based binder formula, designed to meet the latest environmental standards in industrial coatings.
  • Evonik Industries AG acquired a specialty chemical company to enhance its portfolio of waterborne binder technologies, aiming to strengthen its presence in the sustainable coatings market.

List of Leading Companies:

  • BASF SE
  • Dow Chemical Company
  • AkzoNobel N.V.
  • PPG Industries Inc.
  • The Sherwin-Williams Company
  • Evonik Industries AG
  • Huntsman Corporation
  • Nippon Paint Holdings Co., Ltd.
  • Mitsubishi Chemical Corporation
  • Arkema S.A.
  • Clariant AG
  • Eastman Chemical Company
  • Henkel AG & Co. KGaA
  • 3M Company
  • Royal DSM

Report Scope:

Report Features

Description

Market Size (2024-e)

USD 9.0 Billion

Forecasted Value (2030)

USD 14.6 Billion

CAGR (2025 – 2030)

7.2%

Base Year for Estimation

2024-e

Historic Year

2023

Forecast Period

2025 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Water-Based Coating Binders Market By Application (Architectural Coatings, Industrial Coatings, Automotive Coatings, Protective Coatings, Marine Coatings), By Type (Acrylic Coating Binders, Polyurethane Coating Binders, Epoxy Coating Binders, Polyester Coating Binders), By Form (Liquid Coating Binders, Powder Coating Binders), By End-Use Industry (Construction, Automotive, Industrial Manufacturing, Marine, Oil & Gas)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

BASF SE, Dow Chemical Company, AkzoNobel N.V., PPG Industries Inc., The Sherwin-Williams Company, Evonik Industries AG, Huntsman Corporation, Nippon Paint Holdings Co., Ltd., Mitsubishi Chemical Corporation, Arkema S.A., Clariant AG, Eastman Chemical Company, Henkel AG & Co. KGaA, 3M Company, Royal DSM

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Water Based Coating Binders Market, by Application (Market Size & Forecast: USD Million, 2023 – 2030)

   4.1. Architectural Coatings

   4.2. Industrial Coatings

   4.3. Automotive Coatings

   4.4. Protective Coatings

   4.5. Marine Coatings

   4.6. Others

5. Water Based Coating Binders Market, by Type (Market Size & Forecast: USD Million, 2023 – 2030)

   5.1. Acrylic Coating Binders

   5.2. Polyurethane Coating Binders

   5.3. Epoxy Coating Binders

   5.4. Polyester Coating Binders

   5.5. Others

6. Water Based Coating Binders Market, by Form (Market Size & Forecast: USD Million, 2023 – 2030)

   6.1. Liquid Coating Binders

   6.2. Powder Coating Binders

7. Water Based Coating Binders Market, by End-Use Industry (Market Size & Forecast: USD Million, 2023 – 2030)

   7.1. Construction

   7.2. Automotive

   7.3. Industrial Manufacturing

   7.4. Marine

   7.5. Oil & Gas

   7.6. Others

   7.7. Resin-based

8. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030)

   8.1. Regional Overview

   8.2. North America

      8.2.1. Regional Trends & Growth Drivers

      8.2.2. Barriers & Challenges

      8.2.3. Opportunities

      8.2.4. Factor Impact Analysis

      8.2.5. Technology Trends

      8.2.6. North America Water Based Coating Binders Market, by Application

      8.2.7. North America Water Based Coating Binders Market, by Type

      8.2.8. North America Water Based Coating Binders Market, by Form

      8.2.9. North America Water Based Coating Binders Market, by End-Use Industry

      8.2.10. By Country

         8.2.10.1. US

               8.2.10.1.1. US Water Based Coating Binders Market, by Application

               8.2.10.1.2. US Water Based Coating Binders Market, by Type

               8.2.10.1.3. US Water Based Coating Binders Market, by Form

               8.2.10.1.4. US Water Based Coating Binders Market, by End-Use Industry

         8.2.10.2. Canada

         8.2.10.3. Mexico

    *Similar segmentation will be provided for each region and country

   8.3. Europe

   8.4. Asia-Pacific

   8.5. Latin America

   8.6. Middle East & Africa

9. Competitive Landscape

   9.1. Overview of the Key Players

   9.2. Competitive Ecosystem

      9.2.1. Level of Fragmentation

      9.2.2. Market Consolidation

      9.2.3. Product Innovation

   9.3. Company Share Analysis

   9.4. Company Benchmarking Matrix

      9.4.1. Strategic Overview

      9.4.2. Product Innovations

   9.5. Start-up Ecosystem

   9.6. Strategic Competitive Insights/ Customer Imperatives

   9.7. ESG Matrix/ Sustainability Matrix

   9.8. Manufacturing Network

      9.8.1. Locations

      9.8.2. Supply Chain and Logistics

      9.8.3. Product Flexibility/Customization

      9.8.4. Digital Transformation and Connectivity

      9.8.5. Environmental and Regulatory Compliance

   9.9. Technology Readiness Level Matrix

   9.10. Technology Maturity Curve

   9.11. Buying Criteria

10. Company Profiles

   10.1. BASF SE

      10.1.1. Company Overview

      10.1.2. Company Financials

      10.1.3. Product/Service Portfolio

      10.1.4. Recent Developments

      10.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   10.2. Dow Chemical Company

   10.3. AkzoNobel N.V.

   10.4. PPG Industries Inc.

   10.5. The Sherwin-Williams Company

   10.6. Evonik Industries AG

   10.7. Huntsman Corporation

   10.8. Nippon Paint Holdings Co., Ltd.

   10.9. Mitsubishi Chemical Corporation

   10.10. Arkema S.A.

   10.11. Clariant AG

   10.12. Eastman Chemical Company

   10.13. Henkel AG & Co. KGaA

   10.14. 3M Company

   10.15. Royal DSM

11. Appendix

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A comprehensive market research approach was employed to gather and analyze data on the Water-Based Coating Binders Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Water-Based Coating Binders Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Water-Based Coating Binders Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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