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, 2025-2034

Paint and Coating Market Size is valued at  194.5 billion in 2024 and is predicted to reach  265.9 billion by the year 2034 at a 3.3% CAGR during the forecast period for 2025-2034

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.

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:

Segmentation of Paint and Coating Market-

Paint And Coating Market By Resin-

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

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