openPR Logo
Press release

Paints and Coatings Market Size Worth US$ 269.0 Billion by 2032, CAGR of 4.6%

02-15-2024 06:42 AM CET | Chemicals & Materials

Press release from: IMARC Group

Paints and Coatings

Paints and Coatings

IMARC Group, a leading market research company, has recently releases report titled "Paints and Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" The global paints and coatings market size reached US$ 177.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 269.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032.

Request For Sample Copy of Report: https://www.imarcgroup.com/paints-coatings-market/requestsample

Factors Affecting the Growth of the Paints and Coatings Industry:

• Technological Advancements and Innovation:

The paints and coatings industry has witnessed significant growth due to continuous technological advancements and innovation. Manufacturers are constantly developing new formulations and technologies to meet evolving consumer needs, enhance product performance, and comply with regulatory requirements. One notable trend is the shift towards eco-friendly and sustainable coatings, driven by increasing environmental concerns and stringent regulations. Water-based paints, low-VOC (volatile organic compound) coatings, and powder coatings are gaining popularity due to their reduced environmental impact and improved safety profile. Additionally, advancements in nanotechnology have led to the development of coatings with enhanced properties such as self-healing, antimicrobial, and superhydrophobic capabilities, expanding the application scope across various industries including automotive, construction, and aerospace.

• Growing Construction and Infrastructure Development:

The paints and coatings industry is closely linked to the construction and infrastructure sectors, which play a crucial role in driving its growth. Rapid urbanization, population growth, and increasing disposable income levels have spurred demand for residential, commercial, and industrial construction projects worldwide. Emerging economies, particularly in Asia-Pacific and Latin America, are witnessing robust construction activities fueled by infrastructure development initiatives and urban renewal projects. As a result, there is a growing demand for paints and coatings to protect and decorate buildings, bridges, roads, and other infrastructure assets. Moreover, renovation and refurbishment projects further contribute to market growth as consumers seek to maintain and enhance the aesthetics and durability of existing structures.

• Expanding Automotive and Transportation Sector:

The automotive and transportation sector is a major consumer of paints and coatings, driving demand through vehicle production, maintenance, and aftermarket services. With rising vehicle ownership and demand for passenger and commercial vehicles globally, the automotive industry continues to be a key growth driver for the paints and coatings market. Manufacturers are focusing on developing coatings that offer superior performance in terms of corrosion resistance, scratch resistance, color retention, and durability to meet the stringent requirements of automotive OEMs (original equipment manufacturers) and end-users. Additionally, the shift towards electric vehicles (EVs) and autonomous vehicles presents new opportunities for coatings innovation, particularly in the areas of lightweight materials and thermal management coatings to enhance efficiency and performance.

Explore Full Report: https://www.imarcgroup.com/paints-coatings-market

Leading Companies Operating in the Global Paint and Coatings Industry:

• Akzo Nobel N.V.
• Asian Paints Ltd.
• Axalta Coating Systems Ltd.
• Berger Paints India Limited
• Indigo Paints Limited
• Jotun A/S
• Kansai Paint Co. Ltd.
• National Paints Factories Co. Ltd.
• PPG Industries Inc.
• RPM International Inc.
• The Sherwin-Williams Company and Tiger Coatings GmbH & Co. KG.

Paints and Coatings Market Report Segmentation:

By Product:

• Waterborne Coatings
• Solvent-borne Coatings
• Powder Coatings
• High Solids/Radiation Curing
• Others

Waterborne coatings represented the largest segment due to their environmentally friendly nature, low VOC content, and increasing regulatory pressure to reduce emissions, driving their adoption across various industries and applications.

By Material:

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

Acrylic represented the largest segment due to its versatility, durability, and wide-ranging applications in architectural coatings, automotive coatings, industrial coatings, and decorative paints, among others, making it a preferred choice for manufacturers and end-users alike.

By Application:

• Architectural and Decorative
• Non-Architectural
o Automotive and Transportation
o Wood
o General Industrial
o Marine
o Protective
o Others

Architectural and decorative represented the largest segment primarily because of the booming construction industry worldwide, coupled with growing urbanization and increasing consumer demand for aesthetically pleasing and long-lasting coatings for residential, commercial, and institutional buildings.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific enjoys the leading position in the paints and coatings market, driven by rapid urbanization, infrastructure development, and thriving construction industry.

Global Paints and Coatings Market Trends:

The global market is primarily driven by the rising disposable income levels in developing economies, which contribute to increased spending on home renovation, remodeling, and interior decoration. Additionally, the increasing focus on maintenance and repair activities across industries, driven by the need to extend asset lifecycles and optimize operational efficiency, is stimulating market growth.

Moreover, rapid urbanization and infrastructure development projects in emerging economies stimulate demand for architectural coatings for residential, commercial, and public infrastructure, fueling market growth. Furthermore, ongoing innovations in the automotive industry, such as electric vehicles and autonomous driving technologies, drive the need for advanced coatings offering electrical insulation, thermal management, and sensor compatibility, propelling market growth.

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

Also Browse Latest Related Reports by IMARC Group:

• Formic Acid Market: https://www.imarcgroup.com/formic-acid-market
• Wood Coating Market: https://www.imarcgroup.com/wood-coating-market
• Lock Washer Market: https://www.imarcgroup.com/lock-washer-market
• Graphene Market: https://www.imarcgroup.com/graphene-market
• Cooling Fabrics Market: https://www.imarcgroup.com/cooling-fabrics-market
• Animal Feed Organic Trace Minerals Market: https://www.imarcgroup.com/animal-feed-organic-trace-minerals-market
• Injection Molded Plastics Market: https://www.imarcgroup.com/injection-molded-plastics-market
• Fly Ash Market: https://www.imarcgroup.com/fly-ash-market

Contact US

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Paints and Coatings Market Size Worth US$ 269.0 Billion by 2032, CAGR of 4.6% here

News-ID: 3385411 • Views:

More Releases from IMARC Group

GCC Pet Food Market Size is Expected to Reach USD 422.9 Million By 2033 | CAGR: 5.3%
GCC Pet Food Market Size is Expected to Reach USD 422.9 Million By 2033 | CAGR: …
GCC Pet Food Market Overview Market Size in 2024: USD 266.2 Million Market Size in 2033: USD 422.9 Million Market Growth Rate 2025-2033: 5.3% According to IMARC Group's latest research publication, "GCC Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC pet food market size was valued at USD 266.2 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 422.9 Million by 2033, exhibiting a
GCC Residential Real Estate Market Size to Worth USD 147.77 Billion by 2033 | With a 7.50% CAGR
GCC Residential Real Estate Market Size to Worth USD 147.77 Billion by 2033 | Wi …
GCC Residential Real Estate Market Overview Market Size in 2024: USD 73.31 Billion Market Size in 2033: USD 147.77 Billion Market Growth Rate 2025-2033: 7.50% According to IMARC Group's latest research publication, "GCC Residential Real Estate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC residential real estate market size was valued at USD 73.31 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 147.77 Billion by
GCC Drones Market Size to Surpass USD 2,005.3 Million by 2033 | With a 13.3% CAGR
GCC Drones Market Size to Surpass USD 2,005.3 Million by 2033 | With a 13.3% CAG …
GCC Drones Market Overview Market Size in 2024: USD 588.2 Million Market Size in 2033: USD 2,005.3 Million Market Growth Rate 2025-2033: 13.3% According to IMARC Group's latest research publication, "GCC Drones Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The GCC drones market size was valued at USD 588.2 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 2,005.3 Million by 2033, exhibiting a growth rate of
Medical Imaging Market to Surpass USD 70.8 Billion by 2033, at a CAGR of 5.03%
Medical Imaging Market to Surpass USD 70.8 Billion by 2033, at a CAGR of 5.03%
Market Overview: The medical imaging market is experiencing rapid growth, driven by Growing Burden of Chronic and Age-Related Diseases, Expansion of Government-Funded Health Infrastructure and Technological Advancements in Imaging Modalities. According to IMARC Group's latest research publication, "Medical Imaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The global medical imaging market size reached USD 44.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach

All 5 Releases


More Releases for Coating

Medical Grade Coating Market: How Nanotechnology Is Advancing Coating Solutions
► Medical Grade Coating Market Poised for Significant Growth, Projected to Reach USD 22.01 Billion by 2032 The global medical grade coating market, valued at USD 13.40 billion in 2024, is anticipated to experience robust growth, reaching approximately USD 22.01 billion by 2032. This represents a compound annual growth rate (CAGR) of 6.4% during the forecast period. Curious to peek inside? Grab your sample copy of this report now:https://www.maximizemarketresearch.com/request-sample/100541/ ► Market
Powder Coating Market - Advanced Coating Solutions for Industrial Applications | …
Powder Coating Market is expected to grow at a CAGR of 6.0% during the forecast period (2024 - 2031). Powder Coating Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers
Coating Equipment Market by Type (Powder coating equipment, Liquid coating equip …
The Coating Equipment Market research report incorporates the scope and objective of the study. Moreover, the report highlights key market segments and players covered. It also covers industry trends, focusing on market use cases and top market size by region, market trends, and global market size. Moreover, the Coating Equipment Market research report covers market growth rate and market share by region. Supply chain analysis, regional marketing analysis, opportunities, challenges,
Powder Coating Market, Powder Coating Market share, global Powder Coating Market …
High application scope in consumer goods, industrial and automotive applications will drive the powder coating market. Stringent government regulation regarding VOC emissions along with product features including emit less, ecofriendly and solvent free will fuel the industry growth. Expansion in the automotive & transportation industry particularly in the emerging nations will propel the powder coating market growth. Shifting trends towards reduction of heat requirement during the production process are the
Powder Coating Market, Powder Coating Market share, global Powder Coating Market …
High application scope in consumer goods, industrial and automotive applications will drive the powder coating market. Stringent government regulation regarding VOC emissions along with product features including emit less, ecofriendly and solvent free will fuel the industry growth. Expansion in the automotive & transportation industry particularly in the emerging nations will propel the powder coating market growth. Shifting trends towards reduction of heat requirement during the production process are the
Powder Coating Market, Powder Coating Market share, global Powder Coating Market …
High application scope in consumer goods, industrial and automotive applications will drive the powder coating market. Stringent government regulation regarding VOC emissions along with product features including emit less, ecofriendly and solvent free will fuel the industry growth. Expansion in the automotive & transportation industry particularly in the emerging nations will propel the powder coating market growth. Shifting trends towards reduction of heat requirement during the production process are the