The Global Aqueous Film Coating Market was valued at USD 875 Million in 2025 and is projected to reach USD 1.35 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period (2025–2034). This steady growth is propelled by the pharmaceutical industry’s decisive shift toward environmentally friendly manufacturing processes, increasing production of solid dosage forms, and the rising demand for functional coatings that enhance drug stability and patient compliance.

As the pharmaceutical sector increasingly prioritizes safety, sustainability, and sophisticated drug delivery, the focus turns to the specialized companies that develop and supply these critical coating solutions. In this blog, we profile the Top 10 Companies in the Aqueous Film Coating Industry—a group of global leaders and innovative specialists driving advancements in tablet and capsule coating technologies.

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🔟 1. Colorcon, Inc.

Headquarters: Harleysville, Pennsylvania, USA
Key Offering: Opadry®, Surelease®, Acryl-EZE®

Colorcon is the undisputed global leader in aqueous film coating, renowned for its comprehensive portfolio of high-performance coating systems. Its products are used by virtually every major pharmaceutical company worldwide for coating tablets, capsules, and granules. Colorcon’s extensive R&D focuses on developing innovative solutions for modified release, taste masking, and color consistency.

Innovation Initiatives:

• Pioneering ready-to-use film coating systems that simplify manufacturing

• Development of specialized coatings for challenging APIs

• Global technical support network aiding formulation optimization

Download FREE Sample Report: Aqueous Film Coating Market – View in Detailed Research Report

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9️⃣ 2. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Kollicoat® and Kollicoat® IR

BASF is a major global supplier of pharmaceutical excipients, including a robust line of aqueous film coating polymers. Its Kollicoat product range is highly regarded for providing excellent film-forming properties, stability, and versatility for both immediate and modified-release applications. BASF leverages its vast chemical expertise to deliver reliable and innovative coating solutions.

Innovation Initiatives:

• Investment in sustainable and bio-based raw materials for coatings

• R&D in polymer science to enhance drug performance and bioavailability

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8️⃣ 3. Ashland Global Holdings Inc.

Headquarters: Wilmington, Delaware, USA
Key Offering: Aquacoat® ECD, Aqua Polish®

Ashland is a key player in specialty chemicals, with a strong presence in the pharmaceutical coatings market. Its Aquacoat product line, particularly the aqueous colloidal polymer dispersions, is widely used for controlled-release coatings. Ashland is known for its focus on providing solutions that meet stringent regulatory standards.

Innovation Initiatives:

• Development of advanced barrier coatings for moisture protection

• Expansion of product portfolio to cater to the generic drug market

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7️⃣ 4. Evonik Industries AG

Headquarters: Essen, Germany
Key Offering: EUDRAGIT® polymers (aqueous dispersions)

Evonik is a leading expert in specialty chemicals, with its EUDRAGIT brand being synonymous with high-quality functional coatings for oral dosage forms. While historically known for solvent-based systems, Evonik has developed a strong portfolio of aqueous dispersions for enteric and sustained-release coatings, catering to the industry’s green shift.

Innovation Initiatives:

• Focus on tailored solutions for targeted drug delivery

• Strong application support and formulation expertise for customers

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6️⃣ 5. Roquette Frères

Headquarters: Lestrem, France
Key Offering: Lycoat® and Kleptose® Line for coating

Roquette is a global leader in plant-based ingredients and a significant supplier of excipients derived from corn, wheat, and peas. The company offers starches and other polymers suitable for aqueous film coating applications, emphasizing natural and sustainable sourcing. Its expertise is particularly valuable in nutraceutical and pharmaceutical formulations.

Innovation Initiatives:

• Development of clean-label and non-GMO excipient options

• Investment in bio-refining to create innovative polysaccharides for coatings

Download FREE Sample Report: Aqueous Film Coating Market – View in Detailed Research Report

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5️⃣ 6. Ideal Cures Pvt. Ltd.

Headquarters: Mumbai, India
Key Offering: Instacoat, Instamask, Sustaincoat

Ideal Cures is a prominent Indian manufacturer and a major global supplier of film coating systems. The company has built a strong reputation for providing cost-effective, high-quality aqueous coatings, particularly serving the expansive generic drug market. Its product range includes solutions for instant release, moisture barrier, and taste masking.

Innovation Initiatives:

• Focus on reducing coating process time to improve manufacturing efficiency

• Development of specialized colors and finishes for brand differentiation

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4️⃣ 7. Corel Pharma Chem

Headquarters: Ahmedabad, India
Key Offering: Aqueous and Non-aqueous coating systems

Corel Pharma Chem is a specialized Indian company focused on pharmaceutical excipients, including a comprehensive range of film coating products. It is recognized for its technical expertise and ability to provide customized coating solutions to meet specific client requirements, making it a valued partner for pharmaceutical manufacturers.

Innovation Initiatives:

• Expansion of manufacturing capacity to meet growing global demand

• Investment in R&D for multifunctional coating systems

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3️⃣ 8. Shreeji Chem

Headquarters: Vadodara, India
Key Offering: Film Coating Powders

Shreeji Chem is a well-established Indian manufacturer of pharmaceutical excipients, with a significant focus on film coating materials. The company provides a variety of coating systems that are compliant with international pharmacopoeial standards, making it a key supplier to both domestic and international markets.

Innovation Initiatives:

• Developing cost-competitive alternatives to premium branded coatings

• Enhancing supply chain reliability for global customers

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2️⃣ 9. SEPPIC (Air Liquide Healthcare)

Headquarters: Paris, France
Key Offering: Sepifilm® LP

SEPPIC, part of the Air Liquide group, is a specialist in pharmaceutical and nutraceutical excipients. Its Sepifilm product line offers aqueous film coatings known for their excellent plasticity, low dusting, and short processing times. SEPPIC emphasizes providing solutions that improve manufacturing robustness and final product quality.

Innovation Initiatives:

• Development of lipid-based and polymer-based coating technologies

• Strong focus on application support and technical service

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1️⃣ 10. DOW Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: Methocel™, Ethocel™ Premium (for aqueous dispersions)

DOW is a global materials science leader, supplying essential cellulose-based polymers like hypromellose (HPMC) that are fundamental components of many aqueous film coating formulations. While not a direct formulator of finished coating systems, DOW’s high-quality polymers are critical raw materials for the entire industry.

Innovation Initiatives:

• Sustainability initiatives focused on responsible sourcing of cellulose ethers

• Development of polymers with specific substitution levels for optimized film properties

Get Full Report Here: Aqueous Film Coating Market – View in Detailed Research Report

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🌍 Outlook: The Future of Aqueous Film Coating Is Functional and Sustainable

The aqueous film coating market is evolving beyond simple aesthetic applications toward sophisticated, value-added functionalities. While conventional coatings still represent a large volume, the industry’s investment and innovation are concentrated on developing intelligent coating systems that contribute directly to therapeutic outcomes.

📈 Key Trends Shaping the Market:

• Accelerated adoption of aqueous systems to replace solvent-based coatings, driven by stringent environmental regulations.

• Rising demand for functional coatings enabling controlled release, enhanced bioavailability, and taste masking.

• Growth in contract manufacturing and the generic drug sector, fueling volume demand for reliable coating solutions.

• Technological advancements in coating equipment and continuous processing, improving efficiency and consistency.

Get Full Report Here: Aqueous Film Coating Market – View in Detailed Research Report

The companies listed above are not only supplying essential ingredients for modern medicines—they are enabling the development of safer, more effective, and patient-friendly pharmaceutical products.