South America Paints and Coatings Market 2025 | Growth Drivers, Trends & Market Forecast, Competitive Landscape & Investment Opportunities

Market Size and Growth

South America Paints & Coatings Market is expected to grow at a CAGR of 4% during the forecasting period (2024-2031).

Key Development:

South America Paints & Coatings: Recent Industry Developments

✅ In October 2025, BASF SE completed the sale of its Brazilian decorative paints business, including the Suvinil and Glasu! brands with ~1,000 employees, to The Sherwin‐Williams Company for USD 1.15 billion, transferring two production sites in Demarchi and Jaboatão.

✅ In July 2025, The Sherwin‐Williams Company expanded its production facility in São Paulo, Brazil to increase capacity for water‐borne coatings, supporting the region's shift toward sustainable and low‐VOC solutions.

✅ In June 2025, Akzo Nobel N.V. launched a new decorative paint line tailored for South American climates, featuring enhanced humidity and UV resistance for tropical environments.

✅ In February 2025, Sherwin‐Williams signed the definitive agreement to acquire BASF's Brazilian architectural/decorative paints business, worth ~USD 525 million in 2024, for USD 1.15 billion, ahead of the closing in H2 2025.

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Key Players:

=> PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems LLC, Jotun A/S, Nippon Paint Holdings Co., Ltd, Asian Paints Limited, Kansai Paint Co., Ltd., RPM International Inc., Tikkurila OYJ

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Key Segments:

>By Resin Type
Alkyd and polyester resins are commonly used for architectural and industrial coatings due to versatility and cost-effectiveness. Epoxy, polyurethane, and fluoropolymer resins offer chemical resistance and durability for demanding applications. Specialty resins like polyether ether kettone (PEEK), polyaryletherkettone (PAEK), polyether kettone (PEK), and others cater to high-performance and engineering applications.

>By Technology
Water-based coatings are preferred for environmental compliance and low VOC emissions. Solvent-based, powder, UV-cured, and electron beam coatings are widely used for industrial and high-performance applications. Other emerging coating technologies focus on improved efficiency, durability, and sustainability.

>By Resin Characteristics
Commodity coatings, including thermoplastic and thermoset types, serve basic protection and decorative purposes. Engineering coatings provide enhanced mechanical and chemical resistance for industrial applications. High-performance coatings offer superior durability, temperature resistance, and chemical stability for aerospace, automotive, and specialized industrial sectors.

>By End-User
Architectural applications include residential (new construction, remodel, and repaint) and non-residential buildings. Industrial end-users span general industrial, protective coatings, automotive refinish and OEM, industrial wood, marine, coil, packaging, aerospace, and rail sectors. These industries demand tailored coating solutions based on performance and regulatory requirements.

By Region

Brazil is the largest market in South America, driven by construction and industrial growth.

Argentina shows steady growth with increasing demand in automotive and industrial coatings.

Peru and the rest of South America are emerging markets, focusing on urban development, industrial expansion, and adoption of advanced coating technologies.

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