A coating composition of: from 4 to 17 wt % of hollow microspheres having a thermal conductivity (designated lambda) below 0.1 W·m−1·K−1, from 0.05 to 1 wt % of at least one linear alcohol whose hydrocarbon chain comprises at least 8 carbon atoms, from 5 to 25 wt % of at least one bonding agent selected from water-dispersible or water-soluble polymers, comprising a glass transition temperature (Tg) less than or equal to 65° C., from 25 to 50 wt % of a non-hydraulic binder that is mineral and metallic fillers: having an average particle size in the range from 5 to 100 μm, from 0.1 to 1 wt % of at least one thickener, water, Use thereof and the applications thereof as smoothing and/or heat-insulating coating for walls and ceilings.