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Paints and Coatings Market

Global Paints and Coatings Market Size, Share, Growth: By Raw Material: Pigments and Fillers, Solvents, Resins, Additives; By Technology: Powder-Based, Water-Borne, Solvent-Borne; By End Use: Architectural, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Paints and Coatings Market Outlook

The global paints and coatings industry attained a value of USD 179.98 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4% to reach USD 255.59 billion by 2032.

 

Global Paints and Coatings Market

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Asia Pacific among the Leading Regions for the Global Paints and Coatings Industry

Asia Pacific is one of the leading regional markets for the global paints and coatings industry due to the thriving construction industry in the region. The growth can be attributed to the ever-rising population and economic development in developing countries like China and India. The introduction of nano technology and anti-corrosion coating has improved the market demand for paints and paintings. The products are getting more environment friendly and come with better features. This can improve the demand for global paints and coatings industry in the forecast period as well. The growth of the industry is also driven by the rising demand from the rising automobile industry and is likely to witness robust growth in the coming years.

 

Global Paints and Coatings: Market Segmentation

The paints and coatings refer to substances that are used as covering of a surface material of a good to prevent it from corrosion and rusting, thereby increasing the lie of the goods. They can also provide a better appearance to the goods while preserving its life.

 

Global Paints and Coatings Market By Technology

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Based on the raw material, the market can be classified into:

  • Pigments and Fillers
  • Solvents
  • Resins
  • Additives

Based on the technology, the market can be segmented into:

  • Powder-Based
  • Water-Borne
  • Solvent-Borne
  • Others

Based on end use, industry can be segmented into architectural and industrial.

Industrial paints and coatings can be further divided into the following:

  • General Industrial
  • Automotive and Transportation
  • Wood
  • Aerospace and Marine
  • Protective
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

 

Global Paints and Coatings Market By Region

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New Innovative Technologies are Driving the Industry Demand

The new technologies like anti-corrosive protection and nano-coatings have developed products that can boost the industry growth and cater to the market demand more adequately. The products developed are becoming more friendly to the nature and are having better performance. The increasingly better products are expected to bolster the future industry growth.

The rise of construction industries in Asia Pacific countries like India and China are positively stimulating the market demand for the global paints and coatings. This is because of increasing population, rapid urbanisation, and growth of disposable incomes in the developing nations. The consumer goods are also requiring the paints and coatings which further augments the demand. The COVID-19 has somewhat constrained the industry because of slow and stagnant economy worldwide. However, the industry is consolidating and picking up the pace as the construction demand is bound to increase.

 

Key Industry Players in the Global Paints and Coatings Market

The report presents a detailed analysis of the following key players in the global paints and coatings market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • PPG Industries Inc.
  • Akzo Nobel N.V.
  • Nippon Paint Holdings Co., Ltd.
  • BASF SE
  • The Sherwin-Williams Company
  • RPM International Inc.
  • Beckers Group
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

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
  • End Use
  • Region
Breakup by Raw Material
  • Pigments and Fillers
  • Solvents
  • Resins
  • Additives
Breakup by Technology
  • Powder-Based
  • Water-Borne
  • Solvent-Borne
  • Others
Breakup by End Use
  • Architectural
  • Industrial
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
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
  • PPG Industries, Inc.
  • Akzo Nobel N.V.
  • BASF SE
  • Nippon Paint Holdings Co., Ltd.
  • The Sherwin-Williams Company
  •  RPM International Inc.
  • Beckers Group
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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 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    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Paints and Coatings Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Paints and Coatings Historical Market (2018-2023) 
    8.3    Global Paints and Coatings Market Forecast (2024-2032)
    8.4    Global Paints and Coatings Market by Raw Material
        8.4.1    Pigments and Fillers
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Solvents
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Resins
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
            8.4.3.2.1    Breakup by Type
                8.4.3.2.2    Acrylic
                8.4.3.2.3    Alkyd
                8.4.3.2.4    Epoxy
                8.4.3.2.5    Polyurethane
                8.4.3.2.6    Others
        8.4.4    Additives
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
    8.5    Global Paints and Coatings Market by Technology
        8.5.1    Powder-Based
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Water-Borne
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Solvent-Borne
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Paints and Coatings Market by End Use
        8.6.1    Architectural
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
            8.6.1.3    Market by Type
                8.6.1.3.1    Indoor
                8.6.1.3.2    Outdoor
        8.6.2    Industrial
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
            8.6.2.3    Market by Type
                8.6.2.3.1    General Industrial
                8.6.2.3.2    Automotive and Transportation
                8.6.2.3.3    Wood
                8.6.2.3.4    Aerospace and Marine
                8.6.2.3.5    Protective
                8.6.2.4.6    Others    
    8.7    Global Paints and Coatings Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032) 
9    North America Paints and Coatings Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Paints and Coatings Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Paints and Coatings Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.2    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Paints and Coatings Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Paints and Coatings Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
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    Buyer’s Power
        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    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    PPG Industries, Inc.
            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    BASF SE
            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    Nippon Paint Holdings Co., Ltd.
            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    The Sherwin-Williams Company
            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    RPM International Inc.
            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    Beckers Group
            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    Others
17    Key Trends and Developments in the Market



List of Key Figures and Tables

1.    Global Paints and Coatings Market: Key Industry Highlights, 2018 and 2032
2.    Global Paints and Coatings Historical Market: Breakup by Raw Material (USD Billion), 2018-2023
3.    Global Paints and Coatings Market Forecast: Breakup by Raw Material (USD Billion), 2024-2032
4.    Global Paints and Coatings Historical Market: Breakup by Technology (USD Billion), 2018-2023
5.    Global Paints and Coatings Market Forecast: Breakup by Technology (USD Billion), 2024-2032
6.    Global Paints and Coatings Historical Market: Breakup by Application (USD Billion), 2018-2023
7.    Global Paints and Coatings Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.    Global Paints and Coatings Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Paints and Coatings Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Paints and Coatings Market Structure

Key Questions Answered in the Report

In 2023, the global paints and coatings market attained a value of nearly USD 179.98 billion.

The market is projected to grow at a CAGR of 4% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 255.59 billion by 2032.

The major market drivers include growing population, healthy economic growth in developing countries, and the robust growth of the construction and automotive sectors.

The key trends propelling the market growth are technological advancements and innovations and the increasing launches of paints with superior properties by key players.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The raw materials in the paints market are pigments and fillers, solvents, resins, and additives, with resins further sub-divided into acrylic, alkyd, epoxy, and polyurethane, among others..

The technologies of paints and coatings considered in the market report are powder-based, water-borne, and solvent-borne, among others.

The different end use of paints and coatings are architectural and industrial.

The major players in the market are PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., BASF SE, The Sherwin-Williams Company, RPM International Inc, and Beckers Group, among others.

Analyst Review

The global paints and coatings market attained a value of USD 179.98 billion in 2023, driven by the ever-rising population and economic development in developing countries. Aided by the technologies like anti-corrosive protection and nano-coatings, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4%. The market is projected to reach USD 255.59 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on raw material, the market can be divided into pigments and fillers, solvents, resins, and additives. Based on its technology, the paints and coatings industry can be segmented into powder-based, water-borne, and solvent-borne, among others, with powder-based accounting for the largest market share. The end use sectors include architectural and industrial. Industrial applications can be further segmented into general industrial, automotive and transportation, wood, aerospace and marine, and protective, among others. Major regional markets for paints and coatings are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Asia Pacific accounting for the largest share of the market. The key players in the above market include PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., BASF SE, The Sherwin-Williams Company, RPM International Inc, and Beckers Group., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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