Paints and Coatings Market, By Product Type, By Application, By Geography

Description

The global paints and coatings Market size is valued US$ 202.46 Bn in 2024 and is expected to reach US$ 252.41 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2023/2024:	US$ 202.46 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 - 2031
Forecast Period 2023/2024 to 2030/2031 CAGR:	3.20%	2030/2031 Value Projection:	US$ 252.41 Bn

Figure 1. Global Paints and Coatings Market Share (%), By Region, 2024

The global paints and coatings market is witnessing steady growth on account of rising construction activities around the world. Paints and coatings are extensively used in various industries like construction, automotive, furniture, etc. to protect surfaces from corrosion and deterioration. Rising disposable incomes have increased consumer spending on homes and vehicles in developing nations, thereby propelling the demand for coatings. Furthermore, stringent regulatory norms regarding Volatile organic compounds (VOC) emissions from paints and rapid adoption of bio-based and environment-friendly coatings are providing new avenues for market players. The urban population worldwide is growing fast while infrastructure development in emerging countries remains robust. This is anticipated to drive the continuous uptake of architectural coatings in the foreseeable future. Rising investments in infrastructure development across both developed and developing economies is generating a strong demand for decorative and protective paints and coatings. Additionally, growth in vehicle production and sales is propelling the automotive coatings segment. However, stringent environmental regulations regarding VOC emissions present some challenges.

Market Dynamics:

The global paints and coatings market is driven by factors such as strong growth in the construction sector, rapid urbanization in developing countries, and rising automotive production. However, stringent environmental regulations regarding VOC emissions from paints and volatile raw material costs pose challenges to market players. Switching to bio-based and eco-friendly coating solutions presents significant opportunities in the market. Innovation in products, development of new application techniques, and customization as per customer requirements will help companies gain a competitive edge. The growth of the market is driven by factors such as the increasing demand from the construction and automotive industries, rising investments in infrastructure projects, and technological advancements in the industry.

Key Features of the Study:

This report provides an in-depth analysis of the market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include - Akzo Nobel N.V, Asian Paints, Axalta Coating Systems, BASF SE, Berger Paints India Limited, Deutsche Amphibolin-Werke Von Robert Murjahn Stiftung & Company, Diamond Vogel Paints, Helios Group, KCC Corporation, Masco Corporation, Nippon Paint, and PPG Industries Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up gradation, market expansion, and marketing tactics.
The market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing to this market.

Detailed Segmentation:

By Product Type
- High solids/radiation cure
- Powder coating
- Waterborne coatings
- Solvent-borne coatings
- Others
By Application
- Automotive & Aviation
- Medical & healthcare
- Residential
- Commercial
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Top Companies in this Market
- Akzo Nobel N.V
- Asian Paints
- Axalta Coating Systems
- BASF SE
- Berger Paints India Limited
- Deutsche Amphibolin-Werke Von Robert Murjahn Stiftung & Company
- Diamond Vogel Paints
- Helios Group
- KCC Corporation
- Masco Corporation
- Nippon Paint
- PPG Industries Inc.

Product Code: CMI328

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
Growth in the construction industry
Growing industrialization and infrastructure development
Rapid urbanization
- Restraints
Stringent environmental regulations
Rising popularity of water-based coatings
- Opportunities
Emergence of water-borne and powder coatings
Innovation of bio-based and green coatings
Advancements in nanotechnology
Key Highlights
Regulatory Scenario
Recent Trends
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Mergers, Acquisitions, and Collaborations

4. Global Paints and Coatings Market - Impact of Coronavirus (COVID-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Global Paints and Coatings Market, By Product Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024-2031(%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
High solids/radiation cure
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
Powder coating
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
Waterborne coatings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
Solvent-borne coatings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)

6. Global Paints and Coatings Market, By Application, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024-2031(%)
- Y-o-Y Growth Analysis, 2020- 2031
- Segment Trends
Automotive & Aviation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
Medical & healthcare
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Bn)

7. Global Paints and Coatings Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024-2031(%)
- Y-o-Y Growth Analysis, For Region, 2020- 2031
- Country Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Region , 2019-2031,(US$ Bn)
U.S.
Canada
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031,(US$ Bn)
GCC Countries
Israel
Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019-2031,(US$ Bn)
South Africa
Central Africa
North Africa

8. Competitive Landscape

Company Profile
- Akzo Nobel N.V
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
- Asian Paints
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- Axalta Coating Systems
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- BASF SE
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- Berger Paints India Limited
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- Deutsche Amphibolin-Werke Von Robert Murjahn Stiftung & Company
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- Diamond Vogel Paints
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- Helios Group
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
- KCC Corporation
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- Masco Corporation
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- Nippon Paint
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
- PPG Industries Inc.
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Analyst Views

9. Section

References
Research Methodology
About us