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

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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.

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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 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.
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.
FAQs: Paints and Coatings Market
1. What is the current market size of the global paints and coatings market?
➣ The global paints and coatings market was valued at US$ 213.77 million in 2024 and is projected to grow significantly over the coming years.
2. What is the expected market size of the global paints and coatings market by 2030?
➣ By 2030, the global paints and coatings market is anticipated to reach a value of US$ 278.38 million, growing at a steady pace.
3. What is the compound annual growth rate (CAGR) for the paints and coatings market from 2024 to 2030?
➣ The paints and coatings market is expected to grow at a CAGR of 4.50% during the forecasted period from 2024 to 2030.
4. How much do U.S. exports contribute to the paints and coatings market?
➣ The United States exported over $2.5 billion worth of coating products, generating a trade surplus of $1.4 billion.
5. What factors are driving the growth of the paints and coatings market?
➣ The market growth is driven by:
Rising demand in construction and automotive industries.
Increasing focus on eco-friendly and durable coatings.
Rapid urbanization and infrastructure development globally.




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