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Colombia Paints Market

Colombia Paints Market Share, Size, Trends, Growth, Report: By Raw Material: Resin, Pigments and Fillers, Additives, Solvents; By Technology: Water-Borne, Solvent-Borne, Powder-Based, Others; By Application: Architectural/Decorative, Industrial; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Colombia Paints Market Outlook

The Colombia paints market size reached around USD 1,035.7 million in 2023. The market is estimated to grow at a CAGR of 4.1% during 2024-2032 to reach a value of USD 1,456.8 million by 2032.

 

Key Takeaways

  • Rising home renovation activities in Colombia have led to increased usage of paints that provide anti-bacterial properties and high gloss finish.
  • Rising concerns about climate change and demand for sustainable offerings have fueled the demand for eco-friendly paints.
  • Technological advancements such as antibacterial coating technology, thermal insulation technology, and bio-based acrylic emulsion are revolutionising the market.

 

The growth in the Colombian housing sector is a crucial factor driving the demand for paints and coatings. Consumers are increasingly adopting decorative paints to enhance the aesthetic appeal of their homes.

 

The expanding urbanisation and population growth in Colombia is supporting the construction of transportation infrastructure, including roads and airports. The government's attention to public infrastructure development and modernisation of roads, subways, and highways, such as the ongoing construction of Bogotá's subway scheduled to start operating in 2028, supports the paints market development.

 

Paint protects automobiles from corrosion. The Colombian automotive sector is specialised in the production, painting, and assembly of cars and motorcycles. Colombia’s manufacturing sector is also a crucial consumer of paints. In 2022, its y-o-y output expanded by 11.26%, contributing to the market growth.

 

Colombia Paints Market

 

Colombia Paints Market

 

Key Trends and Developments

Expansion of the construction and housing sectors; increasing demand for low VOC paints; growth of the aviation sector; and investments in research and development are positively impacting the Colombia paints market growth

 

Date Company Event
May 2023 PPG Industries PPG unveiled its collaboration strategy by introducing PPG Advanced Surface Technologies, a fresh joint venture developed in partnership with entrotech, Inc., a reputable supplier of technologically advanced film solutions.
Apr 2022 Akzo Nobel N.V. Akzo Nobel N.V. completed the acquisition of Grupo Orbis, a prominent paints and coatings company situated in Colombia.

 

 

Trends Impact
Housing sector expansion in Colombia Expansion of Colombia’s housing infrastructure to support its economic development favours the market growth.
Health and sustainability concerns With rising health and environmental concerns, there is a growing consumer demand for paints that are low in VOCs, water-based, and derived from biological sources.
Growing aviation sector The growing demand for new aircraft as well as expanding aircraft maintenance is expected to support the use of thin, eco-friendly, scratch-proof, and dirt-resistant paints.
Development of paints for aggressive environments Companies are consistently dedicating their efforts towards the industrial maintenance sector, specifically aiming to develop paints with high chemical resistance suited for environments with severe conditions, including chemical plants, petrochemical industries, and the maritime sector.

 

Colombia Paints Market Trends

Paints act as a protective barrier and enhance the aesthetic appeal of structures. Rising demand for affordable housing is increasing the consumption of paints and coatings solutions. The growth of Colombia’s infrastructure sector is driven by the government’s need to improve the country’s economy. The ongoing construction of Bogota Metro Rail, Line 1, El Dorado Airport expansión, and RegioTram Bogot, provide an opportunity for players.

 

Colombia has devised the Intermodal Transport Master Plan (PMTI) 2021-2051, as a strategic roadmap for the nation's intermodal connectivity over the next two decades, impacting 294 prioritised municipalities through 86 projects with approximately USD 48 billion investment. Colombia ranks third in the World Bank's assessment of efficiency in PPP programs through efficient formulation and execution of public-private initiatives, with a project portfolio exceeding USD 10 billion. The Community Roads for Peace initiative is slated to receive an estimated USD 1.6 billion investment for the rehabilitation of 33,000 km of roads.

 

Further, paints are crucial for manufacturing machinery to protect it against corrosion, enhance its lifespan, and ensure productivity. The country’s manufacturing output was USD 35.59 billion in 2021, which increased to USD 39.59 billion in 2022. The increasing demand for manufacturing machinery and equipment supports the Colombia paints market expansion.

 

Moreover, consumers are transitioning towards sustainable paints with limited impact on environment and human health. Manufacturers can capitalise on this trend by incorporating more bio-based raw materials, adopting refillable packaging, reducing water and energy use, and enhancing carbon neutrality in the production process.

 

Market Segmentation

“Colombia Paints Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Raw Material Resin, Pigments and Fillers, Additives, Solvents
Technology Water-Borne, Solvent-Borne, Powder-Based, Others
Application Architectural/Decorative, Industrial

 

Resins are sub-divided by type into acrylic, polyurethane, alkyd, and epoxy, among others.

 

The industrial applications of paints are further categorised into general industrial, automotive and transportation, wood, aerospace and marine, and protective, among others, while the architectural/decorative applications include indoor and outdoor segments.

 

Resins, among other raw materials, dominate the Colombia paints market share

Acrylics, epoxies, and polyurethane resins are widely consumed in low-VOC water-based paints. The growing inclination towards low volatile organic compounds (VOCs)-based paints is increasing the demand for these resins.

 

Alkyd resin serves as a film-forming agent in interior paints and clear coatings and improves the drying time of paints. Further, acrylic resins are deployed in automotive and architectural paints due to their exceptional weather resistance and durability.

 

A combination of polyurethane paint with epoxy primers results in a heavy-duty anti-corrosion coating system, ideal for internally coating metal sewage tanks, pipelines, storage tanks, and pipelines.

 

Solvent-based paints are ideal for humid environments that increase the difficulty of letting water-borne coatings cure properly. Additionally, these paints work efficiently on surfaces contaminated with grease and dirt.

 

Water-borne technology is most widely preferred in the Colombia paints market

Water-borne paints predominantly use water as a dispersion media, which makes them environmentally friendly and easy-to-apply. The growing concerns regarding environmental safety and pollution make water-borne paints a desired option.

 

According to the Colombia paints market analysis, powder-based paints are also gaining popularity in the region; they are applied on metals by spray application. Surfaces coated with powder coating have high-quality finishes and are thicker in nature. The key companies offering powder-based paint solutions include Sherwin-Williams Company and PPG Industries, Inc.

 

Competitive Landscape

The market players are focusing on developing paints and coatings solutions that are environmental friendly, driven by the growing need to lower environmental impact and reduce carbon emissions

 

Company Founded Headquarters Products/ Services
Sherwin-Williams Company 1866 United States Specialises in architectural coatings and industrial coatings.
PPG Industries, Inc. 1883 United States The company provides paints and coatings products to various sectors including aerospace, architectural coatings, automotive refinish, etc.
Pintuco SA 1945 Colombia The company offers paints and coatings under four business segments including home, industrial, automotive, and construction and maintenance of buildings.
Pintubler de Colombia S.A. 1980 Colombia The company offers paints and coatings under key business segments that include industrial, automotive, woods, and others.

 

Other notable players operating in the Colombia paints market include WEG S.A., Pinturas Super LTDA, Organizacion Corona S A, Akzo Nobel N.V., INVESA SA, CLQ / COLORQUIMICA SAS, and Sun Chemical Corporation, among others. The manufacturers are upgrading their product portfolios and incorporating the latest capabilities to innovate their offerings and meet the evolving demands of consumers.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Raw Material
  • Technology
  • Application
Breakup by Raw Material
  • Resin
  • Pigments and Fillers
  • Additives
  • Solvents
Breakup by Technology
  • Water-Borne
  • Solvent-Borne
  • Powder-Based
  • Others
Breakup by Application
  • Architectural/Decorative
  • Industrial
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Sherwin-Williams Company
  • PPG Industries, Inc.
  • Pintuco SA
  • Pintubler de Colombia S.A.
  • WEG S.A.
  • Pinturas Super LTDA
  • Organizacion Corona S A
  • Akzo Nobel N.V.
  • INVESA SA
  • CLQ / COLORQUIMICA SAS
  • Sun Chemical Corporation
  • Others

 

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Colombia Paints Market Report Snapshots

Colombia Paints Market Size

Colombia Paints Market Trends

Colombia Paints Market Share

Colombia Paints Companies

 

*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    Opportunities and Challenges in the Market
8    Colombia Paints Market Overview

    8.1    Key Industry Highlights
    8.2    Colombia Paints Historical Market (2018-2023)
    8.3    Colombia Paints Market Forecast (2024-2032)
9    Colombia Paints Market by Raw Material
    9.1    Resin
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Pigments and Fillers
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
    9.3    Additives
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
        9.3.3    Breakup by Type
            9.3.3.1    Acrylic
            9.3.3.2    Alkyd
            9.3.3.3    Epoxy
            9.3.3.4    Polyurethane
            9.3.3.5    Others
    9.4    Solvents
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
10    Colombia Paints Market by Technology
    10.1    Water-Borne
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Solvent-Borne
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    Powder-Based
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Others
11    Colombia Paints Market by Application
    11.1    Architectural/Decorative
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
        11.1.3    Market by Type
            11.2.3.1    Indoor
            11.2.3.2    Outdoor 
    11.2    Industrial
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
        11.2.3    Market by Type
            11.2.3.1    General Industrial
            11.2.3.2    Automotive and Transportation 
            11.2.3.3    Wood
            11.2.3.4    Aerospace and Marine
            11.2.3.5    Protective
            11.2.3.6    Others
12    Market Dynamics
    12.1    SWOT Analysis
        12.1.1    Strengths
        12.1.2    Weaknesses
        12.1.3    Opportunities
        12.1.4    Threats
    12.2    Porter’s Five Forces Analysis
        12.2.1    Supplier’s Power
        12.2.2    Buyer’s Power
        12.2.3    Threat of New Entrants
        12.2.4    Degree of Rivalry
        12.2.5    Threat of Substitutes
    12.3    Key Indicators for Demand
    12.4    Key Indicators for Price
13    Trade Data Analysis (HS Code - 3209)
    13.1    Major Importing Countries
        13.1.1    By Volume
        13.1.2    By Value
    13.2    Major Exporting Countries
        13.2.1    By Volume
        13.2.2    By Value
14    Policy and Regulations
15    Competitive Landscape

    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Sherwin-Williams Company
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    PPG Industries, Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Pintuco SA
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Pintubler de Colombia S.A.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    WEG S.A.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Pinturas Super LTDA
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Organizacion Corona S A
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Akzo Nobel N.V.
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    INVESA SA
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    CLQ / COLORQUIMICA SAS
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Sun Chemical Corporation
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Colombia Paints Market: Key Industry Highlights, 2018 and 2032
2.    Colombia Paints Historical Market: Breakup by Raw Material (USD Million), 2018-2023
3.    Colombia Paints Market Forecast: Breakup by Raw Material (USD Million), 2024-2032
4.    Colombia Paints Historical Market: Breakup by Technology (USD Million), 2018-2023
5.    Colombia Paints Market Forecast: Breakup by Technology (USD Million), 2024-2032
6.    Colombia Paints Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Colombia Paints Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Major Exporting Countries by Value
9.    Major Importing Countries by Value
10.    Major Exporting Countries by Volume
11.    Major Importing Countries by Volume
12.    Colombia Paints Market Structure

Key Questions Answered in the Report

The market attained a value of USD 1,035.7 million in 2023.

The market is projected to grow at a CAGR of 4.1% during 2024-2032

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 1,456.8 million by 2032.

The major drivers of the market include the rising utilisation of paints in automotive and general industries, the growing construction sector, and increasing focus on building protection.

Rapid urbanisation and industrialisation, rising government investments towards infrastructure development, and development of innovative paints are the key trends propelling the market growth.

The primary raw materials are resin, pigments and fillers, additives, and solvents.

The various technologies in the market include powder-based, water-borne, and solvent-borne, among others.

Architectural/decorative and industrial are the major applications of paints in Colombia.

The lifespan of paint depends upon the type of paint, for example, while latex paint has an average lifespan of 2 to 10 years, acrylic and oil-based paints can last up to 15 years.

The key players in the market include Sherwin-Williams Company, PPG Industries, Inc., Pintuco SA, Pintubler de Colombia S.A., WEG S.A., Pinturas Super LTDA, Organizacion Corona S A, Akzo Nobel N.V., INVESA SA, CLQ / COLORQUIMICA SAS, and Sun Chemical Corporation, among others.

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