For a fundamental study for high concentration pigment coating, the effects of alkali swellable emulsion (ASE) type rheology modifier and surface adsorption emulsion (SAE) type rheology modifier on both the stability and the viscoelastic behavior of a coating color were elucidated. The coating color prepared with SAE type rheology modifier showed superior thermal and mechanical stability than that with ASE type. In the high concentration and high speed coating process, the mechanical stability of a coating color was a key parameter since both impact force and shear force were increased with the increase of coating color concentration and coating speed, respectively.