The Global Water Borne Protective Coatings Market was valued at USD 34.5 Billion in 2023 and is projected to reach USD 49.8 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period (2023–2028). This robust growth is being driven by stringent environmental regulations like the VOC (Volatile Organic Compound) directives, increasing demand from the construction and infrastructure sectors, and a rising global focus on sustainable and eco-friendly coating solutions.

As industries worldwide continue to prioritize environmental responsibility and worker safety, the importance of high-performance, low-VOC protective coatings has never been greater. In this blog, we profile the Top 10 Companies in the Water Borne Protective Coatings Industry—a dynamic mix of chemical giants, specialty coaters, and innovation leaders shaping the future of asset protection and durability.

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🔟 1. Akzo Nobel N.V.

Headquarters: Amsterdam, Netherlands
Key Offering: Water-based epoxy, acrylic, and polyurethane coatings for marine, industrial, and decorative applications.

Akzo Nobel, through its renowned brands like International Paint and Sikkens, is a global powerhouse in protective and marine coatings. The company has a deeply entrenched commitment to sustainability, aiming to make its entire portfolio eco-premium by 2030. Their R&D focuses on developing advanced waterborne technologies that offer corrosion resistance comparable to solvent-borne systems.

Sustainability & Innovation Initiatives:

• Pioneering zero-VOC and low-carbon-footprint coatings.
• Committing to 100% renewable electricity and carbon-neutral operations.
• Extensive portfolio of certified Green Building product solutions.

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9️⃣ 2. PPG Industries, Inc.

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: Aquapon, PSX, and other waterborne epoxies and polyurethanes for demanding industrial environments.

PPG is a leading global supplier with a comprehensive portfolio of architectural and industrial waterborne coatings. The company invests heavily in R&D to create durable coatings that reduce environmental impact. Their WATERLEC™ and AQUACRON® brands are well-established in various sectors for their performance and compliance.

Sustainability & Innovation Initiatives:

• Development of high-performance waterborne coatings for the automotive and aerospace industries.
• Active pursuit of closed-loop recycling systems for manufacturing waste.
• Strategic acquisitions to bolster sustainable technology portfolios.

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8️⃣ 3. The Sherwin-Williams Company

Headquarters: Cleveland, Ohio, USA
Key Offering: Waterborne acrylics, epoxies, and urethanes under brands like Sher-Cryl, Pro Industrial, and Corothane.

Sherwin-Williams is one of the world’s largest paint and coating manufacturers, with a massive distribution network and strong brand recognition. The company is aggressively expanding its waterborne offerings to meet global demand for environmentally compliant coatings without compromising on durability in harsh conditions.

Sustainability & Innovation Initiatives:

• Extensive R&D in fast-drying, high-build waterborne systems.
• Launch of the Harmony® line, focusing on improved indoor air quality.
• Commitment to significant reductions in greenhouse gas emissions and waste.

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7️⃣ 4. Jotun A/S

Headquarters: Sandefjord, Norway
Key Offering: Jotatemp, Jotacote, and Baltoflake waterborne coatings for heavy-duty corrosion protection.

Jotun is a major force in the marine and protective coatings segments, known for its high-performance solutions. The company’s Stronghold® and other waterborne product lines are designed to extend asset life while minimizing environmental impact. Jotun has a significant presence in the offshore, energy, and infrastructure markets.

Sustainability & Innovation Initiatives:

• Pioneer in anti-fouling and corrosion protection technologies.
• Focus on developing coatings that reduce fuel consumption for marine vessels.
• Active participation in global sustainability and safety standards organizations.

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6️⃣ 5. Hempel A/S

Headquarters: Lyngby, Denmark
Key Offering: Hempatherm, Hempadur, and Hempaline waterborne coatings for infrastructure, energy, and marine sectors.

Hempel is another Scandinavian leader with a century-long history in protective coatings. The company’s strategy, “Futureproof with Hempel,” is centered on doubling its business by 2025 through sustainable solutions. Their waterborne offerings provide excellent protection for steel structures, bridges, and wind turbines.

Sustainability & Innovation Initiatives:

• The “Double Impact” strategy, focusing on sustainability-led growth.
• Investment in digital tools for coating specification and lifecycle management.
• Development of advanced solutions for the fast-growing renewable energy sector.

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5️⃣ 6. Axalta Coating Systems

Headquarters: Philadelphia, Pennsylvania, USA
Key Offering: Nap-Gard, Corlar, and Imron waterborne coatings primarily for industrial and refinish markets.

Axalta is a global leader focused exclusively on coatings, with a strong foothold in the transportation and industrial sectors. The company’s waterborne technologies are engineered for high productivity and outstanding finish quality, meeting the evolving needs of manufacturers and repair shops.

Sustainability & Innovation Initiatives:

• Development of low-temperature cure coatings to save energy in application processes.
• Introduction of waterborne basecoats with enhanced color-matching capabilities.
• Commitment to reducing waste and emissions across its value chain.

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4️⃣ 7. Nippon Paint Holdings Co., Ltd.

Headquarters: Osaka, Japan
Key Offering: Waterborne epoxy and polyurethane coatings for automotive, industrial, and decorative applications.

Nippon Paint is Asia’s largest paint manufacturer and a rapidly growing global player. The company has expanded its international presence significantly through acquisitions and invests heavily in developing environmentally advanced coating technologies tailored for diverse climatic conditions.

Sustainability & Innovation Initiatives:

• Focus on anti-viral and anti-bacterial coating technologies.
• Expansion of production capacity for waterborne automotive coatings.
• Strategic partnerships to enhance technological capabilities in various regions.

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3️⃣ 8. Kansai Paint Co., Ltd.

Headquarters: Osaka, Japan
Key Offering: Waterborne coatings for automotive OEM, industrial, and marine markets.

Kansai Paint is a major global competitor with a strong technological foundation. The company is renowned for its innovation in automotive coatings and has a growing portfolio of high-performance waterborne protective coatings for industrial and infrastructure applications.

Sustainability & Innovation Initiatives:

• Development of functional coatings with self-healing and heat-shielding properties.
• Active R&D in reducing the environmental footprint of coating application processes.
• Expansion into emerging markets with tailored sustainable solutions.

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2️⃣ 9. RPM International Inc. (Carboline/Tremco)

Headquarters: Medina, Ohio, USA
Key Offering: Carboline’s waterborne epoxy and fireproofing systems; Tremco’s waterproofing and sealant solutions.

RPM International is a holding company for a vast array of specialty coating, sealant, and building material brands. Through subsidiaries like Carboline and Tremco, RPM provides highly specialized waterborne protective systems for critical infrastructure, including wastewater plants, commercial buildings, and industrial facilities.

Sustainability & Innovation Initiatives:

• Focus on long-lasting, maintenance-reducing coating systems.
• Development of solutions that contribute to LEED certification for buildings.
• Commitment to the MAP 2025 growth and margin improvement plan with a sustainability focus.

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1️⃣ 10. BASF SE (BASF Coatings)

Headquarters: Ludwigshafen, Germany
Key Offering: Waterborne polyurethane dispersions, epoxy systems, and automotive OEM coatings.

BASF, as one of the world’s largest chemical producers, brings immense R&D capability to the coatings industry. Its coatings division is a leading supplier of advanced, environmentally compliant solutions for automotive, construction, and industrial applications, leveraging its expertise in polymer chemistry.

Sustainability & Innovation Initiatives:

• Development of bio-based raw materials for coatings.
• Pioneering digital color matching and application technologies.
• Comprehensive “Accelerator” sustainability strategy aiming for CO2-neutral growth.

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🌍 Outlook: The Future of Water Borne Coatings Is High-Performance and Eco-Conscious

The water borne protective coatings market is undergoing a fundamental transformation. While performance and durability remain paramount, the industry is relentlessly innovating to meet stringent environmental regulations and the growing demand for sustainable building and manufacturing practices.

📈 Key Trends Shaping the Market:

• Accelerated regulatory phase-out of solvent-borne coatings, particularly in Europe and North America.
• Growing adoption in emerging economies due to urbanization and infrastructure development.
• Increasing demand for functional coatings with added benefits like anti-microbial or thermal insulation properties.
• R&D into nanotechnology and smart coatings for enhanced corrosion protection and self-healing capabilities.

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Water Borne Protective Coatings Market – View in Detailed Research Report

The companies listed above are not only protecting critical global infrastructure—they’re leading the charge toward a more sustainable and resilient built environment.