Global Paints and Coatings Market Research Report (2025-2032)

The Global "paint and Coating market" was valued at US$ 213.77 million in the year 2024, and is expected to experience a robust growth of US$ 278.38 million by the year 2030 and is anticipated to grow at a CAGR of 4.50% during the forecasted period.

The U.S exported over $2.5 billion in coating product, while generating a substantial trade surplus of $1.4 billion.

Industry Overview
Paint is defined as a paint material in liquid or solid which when spread on a surface adheres and hardens forms a film that protect, decorated or add a specific feature to the surface on which it is deposited.

With the dip in volume in 2020 the paint and coating industry saw a recovery in 2021 and the volume growth in the paint and coating appears to be tracking GDP. The industry has also seen a growth towards the value.

➣ For More Information or Query, Visit: https://www.24chemicalresearch.com/download-sample/260639/global-paints-coatings-market-2024-255

For more than a decade now the paint and costing industry has been an important cornerstone of various industries such as manufacturing, construction, automotive and even our everyday living. The paint and costing has been a wider application from acting as a vibrant hues on our residents to forming a protective layer to safeguard bridges and cars. Paint has been synonymous with both aesthetics and functionality. This industry has been seeing a quiet revolution and the growing commitment towards sustainability is amongst one of them. With the growing environmental concern and strengthen regulations and policies, the industry the industry has been utilizing approaches to create eco-friendly products. The industry has been working towards reducing its environmental footprint and embrace sustainability by working towards resource recovery, reducing the emission of hazardous chemicals, and offering products that, meet all the safety requirements.

Segmental Analysis
Water based paint to hold the highest market share: By Type

In terms of type the paint and coating industry has been segmented as Water-based paint, Solvent based paint, Powder based paint, Others

In term of product type Water-based paint is expected to hold the highest market share in the global paint and coating industry because of its increasing usage in the automotive, plastic, and wood industry, moreover, these coatings are also eco-friendly and emits a significant lower amount of volatile organic compounds (VOCs) compared to the solvent-based coatings, which aligns with the global regulations. Furthermore, the advancement in technology is likely to enhance the performance of these coatings, coupled with growing consumer's preference towards environmental friendly products which is further increasing its market demand. Further, coatings such as solvent-based and power is also likely to have a significant growth rate during the forecasted period.

Architectural to hold the highest market share: By Application

In the worldwide powder coatings industry, the architectural segment has the largest market share. This dominance is due to the growing need for long-lasting, visually pleasing, and ecologically friendly coatings for metal structures, aluminium extrusions, window frames, doors, facades, and other construction components. Because powder coatings are so good at withstanding extreme weather, UV rays, corrosion, and fading, they are widely used in the architecture industry for both interior and exterior applications.

This demand is being further fuelled by the construction boom, especially in rising economies in the Asia-Pacific and Middle Eastern areas. As green building efforts and sustainability-focused construction methods gain traction, powder coatings are emerging as the preferred option for architects and builders who want to ensure long-lasting performance while adhering to environmental regulations. Furthermore, the architectural industry has found powder coatings to be a preferred substitute for conventional liquid coatings due to regulatory constraints for eco-friendly and low-emission goods.

Regional Analysis
The Paint and Coating industry is likely to be dominated by the Asia Pacific region, this is likely because of the growing urbanization, countries like India, china japan, etc. have been experiencing significant urbanization because of the increasing construction activities as well as stronger economic growth in the region which is leading to higher spending capacity of consumers in home improvement and renovation activities. Furthermore, the Asia Pacific region is also considered to be the manufacturing hub because of the growth of industries such as Automotive, Consumers goods, Electronics, etc. which requires specialized coating. Furthermore, Europe and North America is also expected to have a significant market share in the global paint and coating industry.

Competitive Analysis
• Akzonobel
• Sherwin-Williams
• PPG Industries
• Axalta Coating Systems
• Arsonsisi
• TIGER Drylac
• RPM International
• Nippon Paint
• Jotun Powder Coatings
• 3M
• TITAN Powder Coatings
• Teknos
• Masco
• ST Powder Coatings
• Ripol
• RIH
• Pulverit
• Protech-Oxyplast
• American Powder Coatings
• IGP
• CIN
• ADAPTA COLOR
• Aiyue Group
• Huajia
• Jingaoli Group
• Wisely
• Fujian Wanan
• Meijia New Materials
• Zhejiang Huacai

The paint and coating industry is dominated by the presence of large multinational players, where, the top ten players in the coating industry in 2021, represent 44% of the total market and the world's largest paint companies had a combined share of 50% in the global paint market. Most of the companies operating in this industry have been working continuously and investing heavily in research and developmental activities, to manufacture environmentally friendly products. Some of the key players in the paint and costing industry include Sherwin-Williams, PPG, AkzoNobel, Axalta, BASF, Kansai Paint, Asian Paints, Jotun, RPM, Henkel, Dow, DuPont, Berger Paints, 3M, Benjamin Moore, and many more.

➣ For More Information or Query, Visit: https://www.24chemicalresearch.com/download-sample/260639/global-paints-coatings-market-2024-255

➣ Recent Developments
• March 2024, Axalta Coating Systems, announced the completation of acquisition of Cover Flexx Group from Transtar Holding Company. "The acquisition of The CoverFlexx Group further solidifies our excellent offerings in Refinish coatings," said Chris Villavarayan, Axalta's Chief Executive Officer and President.

• 2024 21st May , PPG announced the introduction of its new paint and coating manufacturing facilities Tennessee as part of $300 million investment in advanced manufacturing in North America. With this investment the company aims at driving growth and operational efficiency in automotive coatings

• October 2023, During the International Green build Conference in Washington, D.C., AkzoNobel showcased environmentally friendly paint and coating options for green buildings.

• 2022, An agreement was made by the Sherwin-Williams Company, the state of North Carolina, Iredell County, and the city of Statesville to create a larger distribution facility in Statesville, North Carolina, and to greatly expand its manufacturing capacity for architectural paints and coatings. Sherwin-Williams intends to contribute to the project with a minimum of $300 million USD. The paints and coatings market may be found at.

➣ Industry Dynamics
➣ Industry Trend

➣ Shift towards Eco-friendly and Low -VOC products

The shift towards environmentally friendly and low-VOC (volatile organic compound) products is one of the key trends in the global paint and coatings market. Volatile organic compounds (VOCs) are substances that release fumes into the atmosphere while paints and coatings dry, hence exacerbating air pollution and posing health hazards such skin irritation and respiratory problems. Governments and consumers alike are calling for more ecologically friendly solutions as awareness of the detrimental effects of volatile organic compounds (VOCs) on health and the sustainability of the environment grows.

Governments everywhere are enforcing more stringent environmental laws that restrict the amount of volatile organic compounds (VOCs) that paints and coatings can emit, especially in North America and Europe. Because of this, producers have created low-VOC, water-based formulations that operate as intended while still adhering to standards. Water-based paints release much less toxic chemicals into the atmosphere than traditional solvent-based coatings, which makes them a safer and more environmentally friendly choice for both indoor and outdoor applications.

➣ Industry Driver
➣ Expansion in the Construction Industry to aid for the growth of the Paint and Coating industry:

The rise in the construction industry is likely to act as a significant factor in the growth of the paint and coating industry. This growth can be attributed to several factors like the rising construction sector leading to the rise in demand for paint and coatings across various applications. The new buildings constructed would require paint for their interior as well as exterior walls etc. Additional infrastructure developmental projects across different countries would also necessitate coating for bridges, roads, and other newly constructed structures. Moreover, the growing focus on aesthetics and durability in modern times would also fuel demand for specialized paints and coatings. construction projects across various regions is an important factor leading to the growth of the industry for instance Rapid infrastructural development and urbanization in nations like China and India have created a growing building industry. The need for residential, commercial, and industrial buildings has increased as a result of the Chinese government's push for urbanization and the creation of smart cities. As a result, there is a greater need than ever for architectural coatings, which both adorn and preserve these structures. Large-scale initiatives like NEOM, a new city project in Saudi Arabia, and Dubai Expo have greatly increased construction operations in the Middle East, especially in the United Arab Emirates and Saudi Arabia. Numerous coatings, such as protective, ornamental, and specialty coatings, are needed for these projects.

➣ Industry Restraint
➣ Fluctuation in price of Raw Material

The price fluctuations of raw materials are a significant constraint on the worldwide paint and coatings business, as they directly affect manufacturing costs and profitability. Petrochemicals are the source of a large amount of the raw materials used to make paints and coatings, including resins, solvents, pigments, and additives. As a result, the industry is highly dependent on the price of crude oil. The cost of these raw materials rises in tandem with oil prices, pushing up manufacturing costs for firms.

Raw material shortages and price surges can be made worse by supply chain disruptions in addition to the volatility of oil prices. Manufacturers may experience production delays or necessary adjustments as a result of disruptions in the availability of necessary chemicals caused by geopolitical circumstances, natural catastrophes, or transportation problems.

➣ Key Drivers of Growth
➣ 1. Increasing Demand from Construction and Automotive Sectors
Construction Boom: The construction industry is a major consumer of paints and coatings, accounting for over 40% of global demand. Rapid urbanization and infrastructure development, particularly in emerging markets like China and India, are significant contributors to this demand. For instance, China is expected to undertake construction activities equivalent to 10 New York-sized cities by 2025, creating substantial opportunities for paints and coatings.

Automotive Industry Growth: The automotive sector is another critical driver, with rising vehicle production necessitating advanced coatings for durability and aesthetics. The shift towards electric vehicles (EVs) is also increasing the demand for specialized coatings that meet new performance standards.

➣ 2. Environmental Regulations and Sustainability Trends
Stricter Environmental Regulations: Governments worldwide are implementing stringent regulations to reduce volatile organic compounds (VOCs) and promote eco-friendly products. This regulatory landscape is pushing manufacturers to innovate and develop low-VOC and water-based coatings, which are increasingly favored by consumers.

Consumer Preference for Sustainable Products: There is a growing consumer consciousness regarding sustainability, leading to increased demand for green coatings made from renewable materials. This trend is expected to drive the market for eco-friendly products, including bio-based and low-emission coatings.

➣ 3. Technological Advancements
Innovation in Coating Technologies: The industry is witnessing rapid advancements in coating technologies, including the development of smart coatings that offer enhanced functionality, such as self-cleaning and antimicrobial properties. These innovations are creating new market segments and opportunities for differentiation.

Digital Transformation: The adoption of digital technologies in manufacturing and marketing processes is enhancing operational efficiency and customer engagement. Companies are leveraging AI and machine learning to optimize product formulations and improve quality control, which can lead to cost savings and better product performance.

➣ 4. Economic Growth and Urbanization
Rising Disposable Incomes: Increasing disposable incomes in emerging economies are driving demand for decorative and high-performance coatings in residential and commercial applications. As urban areas expand, the need for aesthetically pleasing and durable surfaces is becoming more pronounced.

Infrastructure Investments: Government investments in infrastructure projects, particularly in North America and Asia-Pacific, are expected to boost demand for paints and coatings. For example, the U.S. government's infrastructure spending initiatives are likely to stimulate growth in the construction sector, further driving the coatings market.

➣ 5. Market Expansion in Emerging Regions
Emerging Markets: The paints and coatings market is experiencing significant growth in emerging regions, where urbanization and industrialization are rapidly increasing. Countries in Asia-Pacific, Latin America, and the Middle East are becoming key markets due to their expanding construction and automotive sectors.

Investment Opportunities: Companies are increasingly looking to expand their operations in these regions, capitalizing on the growing demand for paints and coatings in residential, commercial, and industrial applications.

➣ By Type
• Decorative Paints and Coatings
• Industrial Paints and Coatings

➣ By Application
• Architectural
• Traffic
• Wood
• Industrial Equipment
• Others

➣ By Technology
• Water-Based Coatings
• Solvent-Based Coatings
• Powder Coatings
• UV-Cured Coatings
• High-Solid Coatings
• Other Technologies

➣ By Resin Type
• Acrylic
• Polyurethane
• Epoxy
• Alkyd
• Polyester
• Fluoropolymer
• Vinyl
• Silicone
• Other Resins

➣ By End-Use Industry
• Construction
• Automotive
• Aerospace
• Marine
• Industrial Equipment
• Packaging
• Others

➣ Region Covered
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South Africa

➣ For More Information or Query, Visit: https://www.24chemicalresearch.com/download-sample/260639/global-paints-coatings-market-2024-255

CONTACT US: City vista, 203A, Fountain Road, Ashoka Nagar, Kharadi, Pune, India 411014 International: +1(332) 2424 294 Asia: +91 9169162030

24chemicalresearch was founded in 2015 and has quickly established itself as a leader in the chemical industry segment, delivering comprehensive market research reports to clients. Our reports have consistently provided valuable insights, aiding our clients, including over 30 Fortune 500 companies, in achieving significant business growth.

This release was published on openPR.