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Paint And Coating Market

Paint and Coating Market Size, Share & Trends Analysis Report By Resin (Water-Based Coatings, Solvent-Based Coatings, Powder Coatings), Technology (Acrylic, Alkyd, Epoxy Resin, Polyester, Polyurethane), And By Application, By Region, And Segment Forecasts, 2023-2031

Report ID : 1627 | Published : 2023-05-12 | Pages: 180 | Format: PDF/EXCEL

The Global Paint and Coating Market Size is valued at 189.71 billion in 2022 and is predicted to reach 246.40 billion by the year 2031 at a 3.08% CAGR during the forecast period for 2023-2031.

Paints are substances intended to enhance the aesthetics of the surface on which they are placed. In contrast, coatings are primarily employed to stop substrate deterioration or to protect against corrosion. The worldwide paint and coating business is a sizable and expanding economic sector. The paint and coating market growth is driven by rising building activity, rising demand for environmentally friendly and sustainable coatings, and technological breakthroughs resulting in new product creation.

Paint and Coatings Market

However, market expansion needs to be improved on volatile organic compounds' environmental and health risks (VOCs). Governments around the world are putting in place a variety of environmental and safety regulations, such as those from The Environmental Protection Agency (EPA), The Occupational Safety and Health Administration (OSHA)and the California Air Resource Board (CARB) to limit the negative effects of these compounds on human health and the environment.

Recent Developments:

  • In June 2021, Grupo Orbis, a maker of paints and coatings, was purchased by AkzoNobel. AkzoNobel will be able to strengthen its position in South and Central America thanks to this tactical acquisition.
  • In December 2020, Northeast Asian and western European markets were where Jotun first introduced its jota cote Universal S120 primer to the world market. 

Competitive Landscape:

Some the paint and coating market are :

  • Akzo Nobel N.V.
  • Asian Paints Limited
  • Axalta Coating Systems Ltd.
  • BASF SE
  • Beckers Group
  • Berger Paints Ltd.
  • DAW SE
  • Diamond Vogel Paint Company
  • Hempel A/S
  • Henkel AG & Co. KGaA
  • Indigo Paints Ltd.
  • Jotun A/S
  • Kansai Paint Co.,Ltd.
  • Kelly-Moore Paints
  • Masco Corporation
  • Nippon Paint Holdings Co., Ltd.
  • PPG Industries, Inc.
  • RPM International Inc.
  • Shalimar Paints
  • SKK(S) Pte. Ltd.
  • The Sherwin-Williams Company
  • Tiger Coatings GmbH & Co. KG
  • Tikkurila Oyj
  • Vista Paint Corporation

Market Segmentation:

The paint and coating market is segmented into resin, technology, and application. The market is segmented based on technology: water-based coatings, solvent-based coatings, powder coatings, and others. Based on resin, the market is fragmented into acrylic, alkyd, epoxy resin, polyester, polyurethane, and others. Depending on the application, it is fragmented into architectural, automotive OEM, wood finishes, coil coatings, packaging finishes, general industrial finishes, automotive refinish paint, protective coatings, marine coatings, aviation/aerospace and others.

Based On Resin, The Acrylic Segment Is A Major Contributor To The Paint And Coating Market

Acrylic resin is anticipated to dominate the market. Due to its fast drying time, adhesion, flexibility, and relatively resistant qualities, acrylic resin has the most substantial market share and is ideal for paints and coatings. The primary factor driving the demand for the product is the expanding usage of acrylic for architectural coatings on interior and external walls, windows, and panels. Acrylic paints and coatings can be used on various surfaces, including wood, metal, and concrete, making them appropriate for indoor and outdoor usage. Many consumers favor acrylic paints and varnishes because of their dependability, resilience to the elements, and capacity to maintain color over time.

The Water Based Segment Witnessed Growth At A Rapid Rate

Water Based is anticipated to dominate the market. Due to rising utilization in the furniture, printing inks, plastic, wood, and vehicle industries, Water Based coatings currently have the biggest market share. The advantages of Water Based coatings, which include low VOC emissions, quick drying, and simpler application, are driving paint and coating market expansion. Water Based coatings are more environmentally friendly than conventional solvent-based coatings since they emit less volatile organic compounds (VOCs). Since traditional solvent-based coatings can no longer match Water Based technology's performance, industrial and consumer applications are increasingly turning to it. When opposed to solvent-based coatings, Water Based coatings are often less expensive to create, giving consumers a more affordable choice.

The Asia Pacific Paint And Coating Market Holds A Significant Revenue Share

Asia Pacific, which includes China and Southeast Asia, dominated the market in 2019 and contributed significant of worldwide sales. Throughout the projected period, the market is anticipated to be driven by increasing building activities and rising demand from the automobile industry in emerging nations like China, India, Japan, and Southeast Asia. Growing building activity and expanding automotive sector demand, particularly in emerging nations like India, China, Korea, and Southeast Asia, will drive market expansion in the following years. Additionally, there are tremendous development opportunities to spur the market in the coming years due to the simple availability of raw materials and less stringent VOC emission rules compared to other regions like Europe and North America.

Paint and Coating Market Report Scope:

Report Attribute

Specifications

Market size value in 2022

USD 189.71 Bn

Revenue forecast in 2031

USD 246.40 Bn

Growth rate CAGR

CAGR of 3.08% from 2023 to 2031

Quantitative units

Representation of revenue in US$ Billion, Volume (Ton), and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Resin, Technology, And Application

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

akzonobel n.v., ppg industries, sherwin-willams company, axalta coating systems llc, jotun a/s, nippon paint holdings co., ltd., asian paints limited, kansi paint co., ltd., rpm international inc., basf coatings gmbh, hempel a/s, berger paints india limited, shalimar paints, masco corporation, s.k. kaken co., ltd., beckers group, dunn-edwards corporation, tiger coatings gmbh & co.kg., sacal international group ltd., vista paints corporation, indigo paints pvt.ltd, kelly-moore paints, and DAW SE

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Paint and Coatings Market Snapshot

Chapter 4. Global Paint and Coatings Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Industry Analysis – Porter’s Five Forces Analysis
4.6. Competitive Landscape & Market Share Analysis
4.7. Key Trends in the Market
4.8. COVID 19 Impact Analysis

Chapter 5. Paint and Coatings Market Segmentation 1: By Resin Estimates & Trend Analysis
5.1. By Resin & Market Share, 2019 & 2031
5.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Resin:

5.2.1. Acrylic
5.2.2. Epoxy Resin
5.2.3. Alkyd
5.2.4. Polyurethane
5.2.5. Polyester
5.2.6. Others

Chapter 6. Paint and Coatings Market Segmentation 2: By Technology Estimates & Trend Analysis
6.1. By Technology & Market Share, 2019 & 2031
6.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Technology:

6.2.1. Water Based
6.2.2. Solvent Based
6.2.3. Powder Coating

Chapter 7. Paint and Coatings Market Segmentation 3: By Application Estimates & Trend Analysis
7.1. By Application Analysis & Market Share, 2019 & 2031
7.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Application:

7.2.1. Architectural Coatings

7.2.1.1. Residential
7.2.1.2. Non-Residential

7.2.2. Automotive OEM Coatings

7.2.2.1. Passenger cars
7.2.2.2. Heavy/Commercial vehicles
7.2.2.3. Motorcycle
7.2.2.4. Other Transportation Coatings

7.2.3. Wood Finishes
7.2.4. Coil Coatings
7.2.5. Packaging Finishes
7.2.6. General Industrial Finishes

7.2.6.1. Footwear
7.2.6.2. Furniture
7.2.6.3. Toys
7.2.6.4. Others

7.2.7. Automotive Refinish Paint
7.2.8. Protective Coatings
7.2.9. Marine Coatings
7.2.10. Aviation/Aerospace
7.2.11. Others

Chapter 8. Paint and Coatings Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Paint and Coatings Market revenue (US$ Billion) and volume (Ton) estimates and forecasts By Resin, 2019-2031
8.1.2. North America Paint and Coatings Market revenue (US$ Billion) and volume (Ton) estimates and forecasts By Technology, 2019-2031
8.1.3. North America Paint and Coatings Market revenue (US$ Billion) and volume (Ton) estimates and forecasts By Application, 2019-2031
8.1.4. North America Paint and Coatings Market revenue (US$ Billion) and volume (Ton) estimates and forecasts by country, 2019-2031

8.1.4.1. U.S.

8.1.4.2. Canada

8.2. Europe

8.2.1. Europe Paint and Coatings Market revenue (US$ Billion) and volume (Ton) By Resin, 2019-2031
8.2.2. Europe Paint and Coatings Market revenue (US$ Billion) and volume (Ton) estimates and forecasts By Technology, 2019-2031
8.2.3. Europe Paint and Coatings Market revenue (US$ Billion) and volume (Ton) By Application, 2019-2031
8.2.4. Europe Paint and Coatings Market revenue (US$ Billion) and volume (Ton) by country, 2019-2031

8.2.4.1. Germany
8.2.4.2. Poland
8.2.4.3. France
8.2.4.4. Italy
8.2.4.5. Spain
8.2.4.6. UK
8.2.4.7. Rest of Europe

8.3. Asia Pacific

8.3.1. Asia Pacific Paint and Coatings Market revenue (US$ Billion) and volume (Ton) By Resin, 2019-2031
8.3.2. Asia Pacific Paint and Coatings Market revenue (US$ Billion) and volume (Ton) estimates and forecasts By Technology, 2019-2031
8.3.3. Asia Pacific Paint and Coatings Market revenue (US$ Billion) and volume (Ton) By Application, 2019-2031
8.3.4. Asia Pacific Paint and Coatings Market revenue (US$ Billion) and volume (Ton) by country, 2019-2031

8.3.4.1. China
8.3.4.2. India
8.3.4.3. Japan
8.3.4.4. Australia
8.3.4.5. Rest of Asia Pacific

8.4. Latin America

8.4.1. Latin America Paint and Coatings Market revenue (US$ Billion) and volume (Ton) By Resin, (US$ Billion) 2019-2031
8.4.2. Latin America Paint and Coatings Market revenue (US$ Billion) and volume (Ton) estimates and forecasts By Technology, 2019-2031
8.4.3. Latin America Paint and Coatings Market revenue (US$ Billion) and volume (Ton) By Application, (US$ Billion) 2019-2031
8.4.4. Latin America Paint and Coatings Market revenue (US$ Billion) and volume (Ton) by country, (US$ Billion) 2019-2031

8.4.4.1. Brazil
8.4.4.2. Rest of Latin America

8.5. MEA

8.5.1. MEA revenue Paint and Coatings Market revenue (US$ Billion) and volume (Ton) By Resin, (US$ Billion) 2019-2031
8.5.2. MEA Paint and Coatings Market revenue (US$ Billion) and volume (Ton) estimates and forecasts By Technology, 2019-2031
8.5.3. MEA revenue Paint and Coatings Market revenue (US$ Billion) and volume (Ton) By Application, (US$ Billion) 2019-2031
8.5.4. MEA revenue Paint and Coatings Market revenue (US$ Billion) and volume (Ton) by country, (US$ Billion) 2019-2031

8.5.4.1. South Africa
8.5.4.2. Rest of MEA

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles


9.2.1. Akzo Nobel N.V.
9.2.2. Asian Paints Limited
9.2.3. Axalta Coating Systems Ltd.
9.2.4. BASF SE
9.2.5. Beckers Group
9.2.6. Berger Paints Ltd.
9.2.7. Diamond Vogel Paint Company
9.2.8. Hempel A/S
9.2.9. Henkel AG & Co. KGaA
9.2.10. Indigo Paints Ltd.
9.2.11. Jotun A/S
9.2.12. Kansai Paint Co.,Ltd.
9.2.13. Kelly-Moore Paints
9.2.14. Masco Corporation
9.2.15. Nippon Paint Holdings Co., Ltd.
9.2.16. PPG Industries, Inc.
9.2.17. RPM International Inc.
9.2.18. Shalimar Paints
9.2.19. SKK(S) Pte. Ltd.
9.2.20. The Sherwin-Williams Company
9.2.21. Tiger Coatings GmbH & Co. KG
9.2.22. Tikkurila Oyj
9.2.23. Vista Paint Corporation
9.2.24. List of Other Prominent Players

Segmentation of Paint and Coating Market-

Paint And Coating Market By Resin-

  • Acrylic
  • Epoxy Resin
  • Alkyd
  • Polyurethane
  • Polyester
  • Others

Paint and Coatings Market

Paint And Coating Market By Technology

  • Water Based
  • Solvent Based
  • Powder Coating

Paint And Coating Market By Application

  • Architectural Coatings
    • Residential
    • Non-Residential
  • Automotive OEM Coatings
    • Passenger Cars
    • Heavy/Commercial Vehicles
    • Motorcycle
    • Other Transportation Coatings
  • Wood Finishes
  • Coil Coatings
  • Packaging Finishes
  • General Industrial Finishes
    • Footwear
    • Furniture
    • Toys
    • Others
  • Automotive Refinish Paint
  • Protective Coatings
  • Marine Coatings
  • Aviation/Aerospace
  • Others

 

Paint And Coating Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Paint And Coating Market?

Paint And Coating Market expected to grow at a 3.08% CAGR during the forecast period for 2023-2031

akzonobel n.v., ppg industries, sherwin-willams company, axalta coating systems llc, jotun a/s, nippon paint holdings co., ltd., asian paints limited,

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