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Paints and Coatings Market

Paints and Coatings Market

Paints and Coatings Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

165

Base Year:

2021

Date

Jan - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1147

Segments Covered
  • By Technology Waterborne, Solventborne, Powder, Others
  • By Resin Acrylic, Alkyd, Epoxy, Others
  • By End User Commercial, Industrial
  • By Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 153.38 Billion
Revenue 2028Revenue 2028: USD 204.57 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 4.2%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Paints and Coatings Market Share

Paints and Coatings Market: By Resin, Technology, Application, and Region

Market Synopsis

Paints and Coatings market is valued at USD 153.38 Billion and is projected to attain a market size of USD 204.57 Billion by 2028 at a CAGR of 4.2% during the forecast period, 2022–2028. The global paints and coatings market has been increasing consistently over the past few years. All developing markets have grown at a significant rate, particularly India, China and Brazil with the latter's paint consumption expected to grow by 9% in 2022. In North America, Mexico is expected to see increased demand from all key regions due to its construction industry that is growing at a rapid pace. With increasing investments in infrastructure development projects, there will be increased demand for Paints and Coatings from Eastern Europe region during the next few years.

Paints and Coatings Market Size, 2021 To 2028 (USD Billion)

Rapidly Growing Urbanization is Driving Growth of Paints and Coatings Market

Rapid urbanization across developing regions has led to a surge in construction activities that have created a growing demand for Paints and Coatings. This coupled with adverse weather conditions including heat waves, cold waves and hailstorms have adversely affected the paint quality required by building exteriors. This has added further impetus for an increased demand of high-quality Paints and Coatings from both developed and emerging markets globally. Paints are now being increasingly used as they offer better aesthetics when compared to other options such as coatings and textiles.

Paints are also used in various other applications, including marine coatings for ships, consumer electronics, automobiles and furniture among others. This has led to increased demand across several industries globally. Moreover, anti-corrosion paints are used in the oil and gas industry which further contributes to demand for Paints and Coatings. In addition, paints provide unmatched aesthetic value to various finished products such as automobiles, furniture and cell phones among others.

Below tree is interactive. You can click the nodes to get more information.

Segmentation

The global market is segmented on the basis of technology, resin type, and end user.

Based on technology the market is segmented into waterborne, solventborne, powder, and others. On the basis of resin, the market is segmented into acrylic, alkyd, epoxy, and others. On the basis of end user, the market is segmented into commercial and industrial.

Powder Coating to is Gaining Attention of End-users in the Paints and Coating Market

In today's competitive environment, powder coating manufacturers have a variety of opportunities to grow their businesses. Powder coatings are an important layer in the total assembly process and offer many advantages over conventional liquid paints and primers.

The current trend is towards automotive body shops performing color change or complete refinishing work using powder coating systems that provide faster throughput, fine line marking for high-end cars, durability and repeatability. In addition to speedier processing times, greater consistency in terms of color match and overall appearance is also gaining popularity due to its ability to give parts a more finished look more quickly. As a result, manufacturers of powder coating systems are seeing increasing demand for new technologies and techniques that can improve the quality level of powder coatings and their throughput capabilities.

Asia Pacific to Continue Leading the Global Paints and Coating Market

Industrialization combined with globalization are driving the revenue growth for the Global market. High demand from India, China, Malaysia and Indonesia is driving the global industry. For instance, GDP of Asian countries is rising which has resulted in increase in per capita spending on personal grooming. Increase in gross domestic product (GDP) is expected to provide opportunities for various industry participants over the forecast period. Similarly, shifting preference towards acrylic paint among consumers has boosted global demand. Moreover, increase in number of actors entering into new product launches and collaborations with famous firms is also expected to fuel global demand over the next five years.

Careful government regulations aimed at promoting environment friendly products, such as low VOC (volatile organic compound) paint formulations are expected to drive industry growth over the forecast period. Stringent environmental legislations around the world on paints containing harmful chemicals such as lead is expected to foster growth for green paints in Europe and North America during the forecast period.

Competitive Landscape

The global paints and coatings market has seen intense competition between various stakeholders with major players striving to capture a larger revenue share through innovative products and services. For instance, PPG Industries Inc leads North America paint & coatings industry with its popular brands such as Dutch Boy, Glidden, Helmsman Spar varnish among others. All key industry participants have entered into contracts with oil & gas companies such as Braskem S.A (Brazil), Axalta Coating Systems Ltd (U.S.), and Akzo Nobel N.V (Netherlands) among others to offer advanced anti-corrosion paints that can withstand high pressure and harsh weather conditions for the oil and gas industry.

The Paints and Coatings is Segmented as Follows:

Parameter Details
Segments Covered
  • Technology (Waterborne, Solventborne, Powder, Others)
  • Resin (Acrylic, Alkyd, Epoxy, Others)
  • End User (Commercial, Industrial)
  • Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Braskem S.A (Brazil)
  • Axalta Coating Systems Ltd (U.S.)
  • and Akzo Nobel N.V (Netherlands)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Paints and Coatings Market Expected to Reach USD 204.57 Billion by 2028
According to our recent report, the Paints and Coatings market is expected to reach USD 204.57 Billion billion by 2028, growing at a CAGR 4.2% of between 2022 and 2028. The increasing application in end-use industries such as architectural, protective, and automotive as well as transpor...
FAQ
Frequently Asked Question
  • The global Paints and Coatings valued at USD 153.38 Billion in 2020 and is expected to reach USD 204.57 Billion in 2028 growing at a CAGR of 4.2% .

  • The prominent players in the market are Braskem S.A (Brazil), Axalta Coating Systems Ltd (U.S.), and Akzo Nobel N.V (Netherlands) .

  • The market is project to grow at a CAGR of 4.2% between 2021 and 2028.

  • The driving factors of the Paints and Coatings include

    • Rapidly Growing Urbanization is Driving Growth of Paints and Coatings Market

  • Asia Pacific was the leading regional segment of the Paints and Coatings in 2020.