Paints and Coatings Market Estimated at USD 185.74 Billion in 2025, Set to Reach USD 223.49 Billion by 2030, With Growing Demand for Eco friendly and Water Based Products

Introduction

The global paints and coatings market is forecast to reach USD 185.74 billion in 2025, and climb steadily to USD 223.49 billion by 2030, representing a compound annual growth rate (CAGR) of 3.77% over the forecast period. This steady growth is driven by a mix of expanding construction activity, regulatory shifts toward reduced volatile organic compounds (VOCs), and rising demand from automotive and industrial sectors.

In recent years, stricter environmental standards around the world have prompted manufacturers to develop products with lower environmental impact. Water-based and bio-based formulations are gaining traction, aligning with both regulatory requirements and consumer preferences. The Asia-Pacific region leads the market overall in size and pace of growth, reflecting a boom in infrastructure and manufacturing activity.

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Key Trends

Environmental Regulation and Low‐VOC Formulations

In response to tightening rules on air quality and emissions, companies are shifting away from solvent-based coatings toward low‐VOC or zero‐VOC alternatives. This transition is pushing innovation in waterborne and powder-based technologies, and also supporting development of bio‐based binders and additives. Manufacturers with capabilities in these areas are gaining ground, particularly in regions enforcing strict environmental standards

Asia‐Pacific Driving the Market

Asia‐Pacific accounts for the largest share of the global paints and coatings market and is the fastest-growing regional market. Rapid urbanization, infrastructure development, and industrial expansion in countries such as China, India, and Southeast Asian nations are fueling demand across architectural, industrial, and automotive sectors.

Shift Toward Waterborne Technologies

Waterborne coatings already dominate in many mature markets. In the United States, waterborne formulations accounted for 67% of total paints and coatings in 2024, and are expected to grow at a 4.93% CAGR through 2030. Globally, this shift is mirrored by declining demand for solvent-based products as customers prioritize safer, more sustainable options.

Consolidation and Competitive Pressure

Across regions, larger firms are acquiring smaller specialized players to build scale and add niche capabilities. At the same time, private‐equity backed consolidators are pursuing buy‐and‐build strategies. This is generating intense competition, especially as established players streamline portfolios toward higher‐margin industrial or specialty coatings business lines.

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Market Segmentation

The paints and coatings market can be broken down in various ways: by resin type, technology, end‐use, and geography. Key segments include:

By Resin Type

Acrylic (largest share globally)

Epoxy (dominant in industrial coatings, about 31% share in 2024)

Polyurethane (projected fastest growing: 5% CAGR in industrial segment)

By Technology

Waterborne (leading format in mature markets, around two‐thirds share in the U.S.)

Solvent‐borne (still significant in heavy‐duty industrial use, around 37% in 2024)

Powder and other low‐VOC technologies (gaining traction)

By End‐Use Industry

Architectural coatings (largest share, around 45% in the U.S.)

Industrial coatings (energy, infrastructure, general manufacturing)

Automotive coatings (OEM and refinish segments)

By Region

Asia‐Pacific (largest and fastest-growing market)

North America (solid expansion supported by infrastructure and reshoring)

Europe, Latin America, Middle East & Africa (varying pace but shifting toward sustainability)

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Key Players

The global paints and coatings market is fragmented, with a strong presence of major multinational producers alongside a broad base of regional and niche suppliers. Leading companies include:

Sherwin‐Williams
PPG Industries
Akzo Nobel
RPM International
Benjamin Moore

In North America, Sherwin‐Williams and PPG dominate, while Akzo Nobel and smaller innovators lead in specialty industrial and eco-friendly formulations.

In Asia‐Pacific, local champions and regional players are stepping up to meet local demand, especially in architectural coatings and low‐VOC solutions. The ongoing consolidation trend is prompting both local and global players to invest in acquisitions, green R&D, and enhanced regional presence.

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Conclusion

Asia‐Pacific-along with growing emphasis on environmental compliance and safe, sustainable formulations. Waterborne and bio‐based products are gaining share, while traditional solvent-based coatings decline.

Resin and technology segmentation highlights opportunities in polyurethane and powder coatings, and end-use demand remains strong in architectural, industrial, and automotive sectors. Competitive dynamics are shifting as major players consolidate capabilities and invest to meet regional and regulatory demands.

In essence, the market today balances between scale and sustainability: companies that can deliver both performance and lower environmental impact are best positioned for success through 2030.

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