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Mexico Coating Market Size, Share, Growth, Analysis, Trends: By Resin: Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, Others; By Technology: Solvent Borne, Water Borne, Powder Based, Others; By End Use: Automotive, Electronics, Aerospace, General Industrial, Power Generation, Others; Regional Analysis; Competitive Landscape; 2024-2032
Mexico Coating Market Outlook
The Mexico coating market size reached nearly USD 3.12 billion in 2023. The market is projected to grow at a CAGR of 4.1% between 2024 and 2032, reaching almost USD 4.48 billion by 2032.
Key Takeaways
- The automotive sector is expected to constitute a major portion of the Mexico coating market share.
- Powder-based coating technology is gaining increasing popularity in the coatings market in Mexico.
- Acrylic resins are one of the leading constituents of industrial coatings in Mexico.
The Mexican manufacturing industry is thriving, driven by increasing foreign direct investments from the USA, Japan, and other European countries. With the increase in the production volume of various household appliances and automotive and electronic goods, the demand for powder-based coatings is increasing significantly. With the increasing automation of powder coating technology and improvements in colour change technology, the Mexico coating market growth is expected to witness an upward trajectory over the forecast period.
Rising infrastructural development in Mexico is also expected to propel the Mexico coating market expansion. For instance, Felipe Ángeles International Airport in Mexico City is primarily made from architectural metal components, which require high standards of polishing and coating. In 2022, the Mexican government announced its plans to invest $600 million in the construction of new airports and other buildings, which is further expected to leverage the Mexico coating market growth.
Major market players in the Mexico coating market are expanding their production capabilities to capitalise on the opportunities presented by nearshoring American and European business operations. For instance, WEG is investing $20 million in Atotonilco de Tula for the construction of a new factory for manufacturing industrial liquid paints.
Market Segmentation
Mexico Coating Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Resin
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
Market Breakup by Technology
- Solvent Borne
- Water Borne
- Powder Based
- Others
Market Breakup by End Use
- Automotive
- Electronics
- Aerospace
- General Industrial
- Power Generation
- Marine
- Others
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
The key Mexico coating market players are BASF SE, Akzo Nobel N.V., PPG Industries Inc., Hempel A/S, Nippon Paint Holdings Co., Ltd., Axalta Coating Systems, LLC, Jotun A/S, The Sherwin-Williams Company, Kansai Paint Co., Ltd., Corev Inc., and Champion Coat Paints and Coatings, among others.
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:
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| Breakup by Resin |
|
| Breakup by Technology |
|
| Breakup by End Use |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Latin America Coating Market Overview
8.1 Key Industry Highlights
8.2 Latin America Coating Historical Market (2018-2023)
8.3 Latin America Coating Market Forecast (2024-2032)
8.4 Latin America Coating Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Coating Market Overview
9.1 Key Industry Highlights
9.2 Mexico Coating Historical Market (2018-2023)
9.3 Mexico Coating Market Forecast (2024-2032)
10 Mexico Coating Market by Resin
10.1 Acrylic
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Alkyd
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Polyurethane
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Epoxy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Polyester
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Mexico Coating Market by Technology
11.1 Solvent Borne
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Water Borne
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Powder Based
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Mexico Coating Market by End Use
12.1 Automotive
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Electronics
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Aerospace
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 General Industrial
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Power Generation
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Marine
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 Mexico Coating Market by Region
13.1 Baja California
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Northern Mexico
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 The Bajío
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Central Mexico
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Pacific Coast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Yucatan Peninsula
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyers Powers
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code: 3209)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 BASF SE
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Akzo Nobel N.V.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 PPG Industries Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Hempel A/S
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Nippon Paint Holdings Co., Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Axalta Coating Systems, LLC
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Jotun A/S
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 The Sherwin-Williams Company
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Kansai Paint Co., Ltd.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Corev Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Champion Coat Paints and Coatings
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Coating Market: Key Industry Highlights, 2018 and 2032
2. Mexico Coating Market: Key Industry Highlights, 2018 and 2032
3. Mexico Coating Historical Market: Breakup by Resin (USD Billion), 2018-2023
4. Mexico Coating Market Forecast: Breakup by Resin (USD Billion), 2024-2032
5. Mexico Coating Historical Market: Breakup by Technology (USD Billion), 2018-2023
6. Mexico Coating Market Forecast: Breakup by Technology (USD Billion), 2024-2032
7. Mexico Coating Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. Mexico Coating Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. Mexico Coating Historical Market: Breakup by Region (USD Billion), 2018-2023
10. Mexico Coating Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. Major Importing Countries by Volume
12. Major Exporting Countries by Volume
13. Major Importing Countries by Value
14. Major Exporting Countries by Value
15. Mexico Coating Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 3.12 billion in 2023.
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 4.48 billion in 2032.
The different resins in the market include acrylic, alkyd, polyurethane, epoxy, and polyester, among others.
The different segments based on technology considered in the market report are solvent borne, water borne, and powder based, among others.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key market players are BASF SE, Akzo Nobel N.V., PPG Industries Inc., Hempel A/S, Nippon Paint Holdings Co., Ltd., Axalta Coating Systems, LLC, Jotun A/S, The Sherwin-Williams Company, Kansai Paint Co., Ltd., Corev Inc., and Champion Coat Paints and Coatings, among others.
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