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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.
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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.
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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.
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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:
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| Breakup by Raw Material |
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| Breakup by Technology |
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| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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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