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Central America Paints and Coatings Market Share, Size, Trends, Growth, Analysis: By Resin Type: Acrylic, Alkyd, Epoxy, Polyester, Vinyl, Polyurethane, Others; By Technology: Powder Based, Water Based, Solvent Based, Others; By Application; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Central America Paints and Coatings Market Outlook
The market size for paints and coatings in Central America reached a value of more than USD 1.17 billion in 2021. The Central America paints and coatings market is expected to grow at a CAGR of 2.70% between 2023 and 2028, reaching a value of USD 1.37 billion by 2027.
Key Trends in the Market
Paints and coatings are both used as layers on top of a material, either for aesthetic or functional purposes. Paints are typically a mixture of pigments in a liquid whereas coatings are layers of paint-like materials applied to improve the characteristics of the surface. Paints and coatings are primarily used for architectural and industrial purposes. While paints are used for giving an aesthetic appeal, coatings are typically used to protect the wall from corrosion or deterioration.
- Development of environment friendly paints and coatings is expected to increase the demand for the market as people are becoming eco-friendly and considering such options over traditional paints and coatings, helping in the growth of the Central America paints and coatings market.
- Improved standards of living have encouraged people to experiment with their homes, by applying varied paints and coatings to change the appearance or improve the durability of their homes. With the growing impact of social media, more people are redesigning their homes and interiors.
- Manufacturers are carrying out developments in the paints and coatings such as acrylic formulations, elastomeric coatings which are meant to provide protection to the homes from weather, rain, and other similar conditions, fuelling the growth of the market.
- With the expansion of companies and industries in the Central America region, the demand for effective coatings is on the rise, as companies are investing in long-term protection of their premises.
Market Analysis
Based on resin type, the Central America paints and coatings market can be divided into acrylic, alkyd, epoxy, polyester, vinyl, and polyurethane, among others. On the basis of technology, the market is segmented into powder based, water based, and solvent based, among others.
According to application, the market is bifurcated into architectural and industrial. The industrial segment is further subdivided into general industrial, automotive and transportation, wood, aerospace and marine, and protective, among others. By country, the market is categorised into Costa Rica, El Salvador, Guatemala, and Panama, among other countries.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Central America paints and coatings market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- PPG Industries, Inc
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- Axalta Coating Systems, Ltd.
- BASF SE
- Jotun A/S
- Benjamin Moore & Co.
- Innovative Chemical Products Group (ICP Group)
- Berger Paints
- Pintuco SA
- Others
Market Share by Technology
Powder based technology is expected to observe significant growth in the Central America paints and coatings market owing to its durability, tough finishing, and scratch resistant properties. They are used in multiple applications including industrial, household appliances, architectural, and automotive industries contributing largely to the growth of the market. Water based technology is also expected to grow in the forecast period as they comprise of volatile organic compounds and offer low toxicity along with low flammability and high corrosion protection, surging the growth in the market.
Market Share by Application
Architectural paints and coatings are expected to surge the growth of the Central America paints and coatings market further owing to their vast use in exterior as well as interiors of various buildings. Increasing construction activities, rising standards of living, and improvements and renovations in houses are all major factors helping the architectural segment lead the market.
Industrial paints and coatings are used for safety or security appliances or machineries, construction equipment and to provide protection to pipelines and tanks. As the industrial sector in the region expands, the demand for industrial paints and coatings would correspondingly rise.
Competitive Landscape
PPG Industries Inc. is an American chemical manufacturing company that was established in 1883, based out of Pennsylvania, United States. It supplies coatings, paints, and other specialty materials all around the globe.
The Sherwin Williams Company founded in 1866 is headquartered in Ohio, United States. It is an American paints and coatings manufacturing company that produces and supplies coatings, floorcoverings, and paints to industrial and other professional users.
Akzo Nobel N.V. was founded in 1994 and has its headquarter in Amsterdam, Netherland. It is a Dutch chemicals company that manufactures paints and coatings for use by consumers and industries globally.
Other market players include Axalta Coating Systems, Ltd., BASF SE, Jotun A/S, Benjamin Moore & Co., Innovative Chemical Products Group (ICP Group), Berger Paints, and Pintuco SA, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Resin Type |
|
| Breakup by Technology |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 Central America Paints and Coatings Market Analysis
8.1 Key Industry Highlights
8.2 Central America Paints and Coatings Historical Market (2018-2022)
8.3 Central America Paints and Coatings Market Forecast (2023-2028)
8.4 Central America Paints and Coatings Market by Resin Type
8.4.1 Acrylic
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Alkyd
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Epoxy
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Polyester
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Vinyl
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Polyurethane
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Central America Paints and Coatings Market by Technology
8.5.1 Powder Based
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Water Based
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Solvent Based
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Central America Paints and Coatings Market by Application
8.6.1 Architectural
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Industrial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.2.4 Breakup by Application Type
8.6.2.4.1 General Industrial
8.6.2.4.2 Automotive and Transportation
8.6.2.4.3 Wood
8.6.2.4.4 Aerospace and Marine
8.6.2.4.5 Protective
8.6.2.4.6 Others
8.7 Central America Paints and Coatings Market by Country
8.7.1 Market Share
8.7.1.1 Costa Rica
8.7.1.2 El Salvador
8.7.1.3 Guatemala
8.7.1.4 Panama
8.7.1.5 Others
9 Regional Analysis
9.1 Costa Rica
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Per Capita Consumption
9.2 El Salvador
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Per Capita Consumption
9.3 Guatemala
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Per Capita Consumption
9.4 Panama
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Per Capita Consumption
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Powers
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 PPG Industries, Inc.
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 The Sherwin-Williams Company
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Akzo Nobel N.V.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Axalta Coating Systems, Ltd.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 BASF SE
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Jotun A/S
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Benjamin Moore & Co.
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Innovative Chemical Products Group (ICP Group)
11.2.8.1 Company Overview
11.2.8.2 Product Portfolio
11.2.8.3 Demographic Reach and Achievements
11.2.8.4 Certifications
11.2.9 Berger Paints
11.2.9.1 Company Overview
11.2.9.2 Product Portfolio
11.2.9.3 Demographic Reach and Achievements
11.2.9.4 Certifications
11.2.10 Pintuco SA
11.2.10.1 Company Overview
11.2.10.2 Product Portfolio
11.2.10.3 Demographic Reach and Achievements
11.2.10.4 Certifications
11.2.11 Others
12 Key Trends and Developments in the Market
List of Figures and Tables
1. Central America Paints and Coatings Market: Key Industry Highlights, 2018 and 2028
2. Central America Paints and Coatings Historical Market: Breakup by Resin Type (USD Million), 2018-2022
3. Central America Paints and Coatings Market Forecast: Breakup by Resin Type (USD Million), 2023-2028
4. Central America Paints and Coatings Historical Market: Breakup by Technology (USD Million), 2018-2022
5. Central America Paints and Coatings Market Forecast: Breakup by Technology (USD Million), 2023-2028
6. Central America Paints and Coatings Historical Market: Breakup by Application (USD Million), 2018-2022
7. Central America Paints and Coatings Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Central America Paints and Coatings Historical Market: Breakup by Country (USD Million), 2018-2022
9. Central America Paints and Coatings Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Major Exporting Countries by Value
11. Major Importing Countries by Value
12. Major Exporting Countries by Volume
13. Major Importing Countries by Volume
14. Central America Paints and Coatings Market Structure
Key Questions Answered in the Report
The market size for paints and coatings in Central America reached a value of more than USD 1.17 billion in 2021.
The market is expected to grow at a CAGR of 2.70% between 2023 and 2028.
The major market drivers are growing construction activities, increased demand for redecoration, and greater interest in protection against UV rays, cracking, and other similar effects.
The market size for paints and coatings in Central America is expected to reach a value of more than USD 1.37 billion by 2027.
The key trends of the market are development of eco-friendly paints, advancements in paints and coatings, and expansion of companies in the region.
Key market players include PPG Industries, Inc, The Sherwin-Williams Company, Akzo Nobel N.V., Axalta Coating Systems, Ltd., BASF SE, Jotun A/S, Benjamin Moore & Co., Innovative Chemical Products Group (ICP Group), Berger Paints, and Pintuco SA., among others.
Paint and coatings are applied as a layer on top of materials, either for aesthetic purposes or for protection. Paints are used for giving the aesthetic look, but coating is used mainly to protect the wall from corrosion or deterioration.
The Central America paints and coatings market is segmented based on resin type, application, technology, and country.
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