Paints and Coatings Market is expected to reach US$ 260.5 billion by 2031 | Major players - AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company

Market Size and Growth:

The Global Paints and Coatings Market Size reached US$ 197.8 billion in 2023 and is expected to reach US$ 260.5 billion by 2031, growing with a CAGR of 3.5% during the forecast period 2024-2031. The Market is growing due to rising construction and infrastructure development worldwide, along with increasing demand for advanced protective and eco-friendly coating solutions across industries. According to DataM Intelligence Report.

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The Paints and Coatings Market comprises manufacturers and suppliers of protective and decorative finishes applied to surfaces such as buildings, vehicles, machinery, and consumer goods. It includes architectural, industrial, automotive, marine, and specialty coatings designed to enhance durability, prevent corrosion, improve aesthetics, and provide functional properties. The market is driven by construction growth, industrialization, sustainability trends, and advanced coating technologies.

United States: Recent Developments of Paints and Coatings Market

✅ October 2025: PPG Industries launched a new low-VOC architectural coating line with enhanced weather resistance and antimicrobial properties to meet sustainability and health-conscious building demands.

✅ September 2025: Sherwin-Williams completed the acquisition of a specialty coatings manufacturer focused on corrosion protection and high-durability applications.

✅ August 2025: Axalta Coating Systems received EPA compliance clearance for next-generation powder coatings with reduced carbon emissions and improved application efficiency.

Japan: Recent Developments of Paints and Coatings Market

✅ October 2025: Leading paint companies ramped up R&D investments in partnerships to develop low-VOC, high-performance coatings for industrial and decorative uses.​

✅ September 2025: Nippon Paint and Kansai Paint expanded production capacity for eco-friendly, multifunctional coatings via joint ventures to meet sustainability demands.​

✅ September 2025: Akzo Nobel, Arkema, and BASF reduced the carbon footprint of Interpon D powder coatings by 40% using bio-attributed resins for architectural applications.​

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Major Players:

Key companies in the Paints and Coatings market include:

AkzoNobel N.V.
PPG Industries, Inc.
The Sherwin-Williams Company
Axalta Coating Systems
Jotun
Nippon Paint Holdings Co., Ltd.
Asian Paints
Kansai Paint Co., Ltd.
RPM International Inc.
Tikkurila.

Market Growth Drivers:

✅ Increasing demand from the construction industry, driven by rapid urbanization, infrastructure development, and real estate growth globally, especially in emerging regions like Asia Pacific and Latin America.

✅ Expansion in the automotive industry with rising vehicle production and demand for advanced coating technologies that enhance durability, corrosion resistance, and aesthetics.

✅ Technological advancements and environmental regulations promoting sustainable, low-VOC, waterborne, and high-performance coatings, including smart coatings like antimicrobial and self-healing variants.

Segments Covered in the Paints and Coatings Market:

By Resin: Acrylic, Alkyd, Epoxy, Polyester, Polyurethane, Fluoropolymer, Others.

By Technology: Water-based, Solvent-based, Powder, UV Csured Coating, Electron Beam (EB) Coating.

By Resin Characteristics: Commodity Coating, Thermoplastic, Thermoset, Engineering Coating.

By End-Users: Architectural, Industrial, Marine, Packaging, Aerospace, Rail.

Regional Analysis for Paints and Coatings Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Paints and Coatings market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Paints and Coatings Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Paints and Coatings market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Paints and Coatings Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Paints and Coatings market?

➠ Who are the global key manufacturers of the Paints and Coatings Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Paints and Coatings market opportunities and threats faced by the vendors in the global Paints and Coatings Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Paints and Coatings market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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