The Global Waterborne Two-component Polyurethane Coating Market was valued at US$ 9.8 Billion in 2023 and is projected to reach US$ 14.2 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period (2024–2030). This robust growth is propelled by stringent environmental regulations on Volatile Organic Compound (VOC) emissions, rising demand for high-performance, durable coatings, and the accelerating adoption of sustainable solutions across industries like automotive, industrial protection, and construction.

As industries worldwide pivot towards eco-friendly and high-performance surface solutions to meet stringent VOC regulations, the focus intensifies on the key chemical innovators and manufacturers driving this transition. In this blog, we profile the Top 10 Companies in the Waterborne Two-component Polyurethane Coating Industry—a group of global giants and specialized players shaping the future of protective and decorative coatings.

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🔟 1. Akzo Nobel N.V.

Headquarters: Amsterdam, Netherlands
Key Offering: Waterborne 2K Polyurethane coatings for Automotive, Industrial, and Consumer Goods

Akzo Nobel is a global leader in paints and coatings, with a strong portfolio of waterborne 2K PU solutions under brands like Sikkens and Interpon. The company is at the forefront of developing low-VOC, high-durability coatings that meet the most demanding performance criteria.

Sustainability Initiatives:

• Ambitious target to reduce carbon emissions by 50% across the value chain by 2030

• Pioneering sustainable product portfolios with certified bio-based raw materials

• Global R&D centers dedicated to advancing waterborne coating technologies

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9️⃣ 2. PPG Industries, Inc.

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: PPG ENVIROCRON® and other waterborne 2K PU coating systems

PPG Industries is a major force in the coatings industry, offering a wide array of waterborne two-component polyurethane products for aerospace, automotive, industrial equipment, and architectural applications. Their focus is on delivering superior corrosion resistance and aesthetic appeal with minimal environmental impact.

Sustainability Initiatives:

• Commitment to 50% of sales from sustainably advantaged products by 2030

• Innovations in fast-cure, low-temperature bake waterborne 2K PU systems

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8️⃣ 3. The Sherwin-Williams Company

Headquarters: Cleveland, Ohio, USA
Key Offering: AquaVASTE™, Polane® Aqua, and other waterborne polyurethane coatings

Sherwin-Williams provides comprehensive waterborne 2K PU coating solutions for a multitude of sectors, including general industrial, wood finishes, and heavy-duty protective coatings. Their products are renowned for excellent adhesion and chemical resistance.

Sustainability Initiatives:

• Extensive investment in R&D for next-generation, low-VOC coating chemistries

• Global supply chain optimization to reduce the carbon footprint of production and distribution

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7️⃣ 4. Axalta Coating Systems

Headquarters: Philadelphia, Pennsylvania, USA
Key Offering: Imron® Elite and other waterborne 2K PU coatings for transportation and industrial uses

Axalta is a leading global supplier of liquid and powder coatings, with a strong emphasis on waterborne technologies for the automotive refinish and commercial vehicle markets. Their coatings are engineered for durability, color retention, and ease of application.

Sustainability Initiatives:

• Product development focused on reducing VOCs and hazardous air pollutants (HAPs)

• Partnerships with customers to develop customized sustainable coating solutions

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Waterborne Two-component Polyurethane Coating Market – View in Detailed Research Report

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6️⃣ 5. Covestro AG

Headquarters: Leverkusen, Germany
Key Offering: Water-dispersible polyisocyanate hardeners (e.g., Desmodur® XP) for 2K PU systems

Covestro is a key raw material supplier, providing advanced water-dispersible isocyanates that are essential components in high-performance waterborne 2K PU coatings. These hardeners enable the formulation of coatings with properties rivaling their solvent-borne counterparts.

Sustainability Initiatives:

• Strong commitment to the circular economy, using alternative raw materials like biomass and CO2

• Development of isocyanates with lower viscosity for easier processing and reduced energy consumption

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5️⃣ 6. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Joncryl® and other waterborne polyol components for 2K PU coatings

BASF offers a comprehensive range of binders and additives for formulating waterborne two-component polyurethane coatings. Their products cater to demanding applications in the automotive OEM, industrial wood, and plastic coatings markets.

Sustainability Initiatives:

• Integrated value chain approach to sustainability, from raw material sourcing to end-of-life

• Active promotion of coatings that contribute to resource efficiency and longer product lifecycles

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4️⃣ 7. RPM International Inc. (Carboline, Tremco)

Headquarters: Medina, Ohio, USA
Key Offering: Specialist waterborne 2K PU coatings for industrial maintenance and flooring

Through its subsidiaries like Carboline and Tremco, RPM International provides high-performance, protective waterborne polyurethane coatings for critical infrastructure, including wastewater treatment plants, bridges, and commercial flooring.

Sustainability Initiatives:

• Focus on developing coatings that extend the service life of assets, reducing overall environmental impact

• Investment in product lines that comply with the most stringent global environmental standards

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3️⃣ 8. Jotun A/S

Headquarters: Sandefjord, Norway
Key Offering: Jotacote® and other waterborne 2K PU solutions for marine and protective coatings

Jotun is a recognized leader in protective coatings, especially for the marine and offshore industries. Their waterborne 2K PU products offer excellent corrosion protection while significantly reducing VOC emissions in sensitive environments like shipyards.

Sustainability Initiatives:

• Pioneering the use of digital tools to optimize coating application and reduce waste

• Development of anti-fouling and protective coatings that enhance fuel efficiency for vessels

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2️⃣ 9. Hempel A/S

Headquarters: Kongens Lyngby, Denmark
Key Offering: Hempathane® and other waterborne polyurethane coatings for wind energy, marine, and infrastructure

Hempel is a global coating supplier with a strong commitment to sustainability. Their waterborne 2K PU systems are designed to protect assets in harsh conditions while aligning with global decarbonization goals.

Sustainability Initiatives:

• Doubling down on R&D to make sustainable solutions the backbone of its product portfolio by 2025

• Launch of coatings that actively contribute to customers’ carbon reduction targets

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1️⃣ 10. Kansai Paint Co., Ltd.

Headquarters: Osaka, Japan
Key Offering: Waterborne 2K PU coatings for automotive, industrial, and decorative applications

Kansai Paint is a major global player, renowned for its innovative coating technologies. The company offers advanced waterborne 2K PU systems that provide exceptional finish quality and durability for automotive OEM and refinish markets.

Sustainability Initiatives:

• Strategic focus on expanding its eco-friendly product lines in key growth markets across Asia and beyond

• Development of coatings with enhanced recyclability and lower environmental impact throughout their lifecycle

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Waterborne Two-component Polyurethane Coating Market – View in Detailed Research Report

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🌍 Outlook: The Future of Coatings Is Waterborne and High-Performance

The waterborne two-component polyurethane coating market is undergoing a significant transformation. While solvent-borne systems still hold substantial market share in certain high-performance niches, the industry is rapidly innovating to make waterborne alternatives the dominant choice for a sustainable future.

📈 Key Trends Shaping the Market:

• Stringent VOC Regulations: Governments worldwide are implementing stricter environmental laws, accelerating the shift away from solvent-based coatings.

• Technological Advancements: Continuous R&D is closing the performance gap between waterborne and solvent-borne 2K PU coatings, particularly in drying time, hardness, and chemical resistance.

• Growth in End-use Industries: Rising demand from the automotive, construction, and industrial maintenance sectors is fueling market expansion, especially in the Asia-Pacific region.

• Bio-based Raw Materials: Increasing incorporation of renewable, bio-based polyols and other components to enhance the sustainability profile of coatings.

The companies listed above are not only supplying essential surface protection—they are actively engineering the sustainable and high-performance future of the global coatings industry.

Get Full Report Here:
Waterborne Two-component Polyurethane Coating Market – View in Detailed Research Report