Paints and Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global paints and coatings market has been experiencing sustained demand, with over 40 million metric tons produced annually worldwide. The market's growth is driven not only by the desire for enhanced aesthetics and improved durability but also by the need for protection and endurance of various natural and synthetic materials and products. Moreover, paints and coatings are preferred for providing reliable barriers against environmental conditions, making them a key factor contributing to the stable growth outlook of the global market. Asia Pacific leads the paints and coatings market, accounting for more than half of the global production, with China as the dominant player due to increasing demand from both architectural and industrial applications.

Green Technologies and Regulations Shaping the Market

The global paints and coatings market is experiencing a shift towards green technologies in response to increasing environmental awareness and stringent regulations. Many smaller companies that failed to comply with government regulations have exited the market, leading to a balanced production-demand equation. The industry's growth typically aligns with the country's economic conditions, and as developing economies continue to thrive, the paints and coatings market is expected to sustain its growth.

Industrial Applications and Consumer Preferences Drive Market Demand

The architectural segment accounts for approximately 50% of the paints and coatings market value share, driven by a rebound in construction activities and progress in the residential sector. The industrial sector is another major end-user, generating significant demand for paints and coatings for protective and decorative applications. The trend towards odor-free, eco-friendly products is becoming pivotal in shaping the market, with regulations focusing on limiting hazardous air pollutants and volatile organic compounds. Rising raw material costs and the importance of energy conservation are additional factors influencing the industry's direction.

Challenges Amidst COVID-19 and Raw Material Costs

The COVID-19 pandemic has disrupted the global paints and coatings market, particularly due to restricted movement of raw materials from major suppliers like China. Environmental and health concerns regarding VOCs and HPAs are pushing manufacturers to create more complex formulations to meet legislative demands. Rising raw material and solvent costs are expected to impact market growth, especially in slower-growth categories.

Industry Consolidation and Leading Players

After significant consolidation in 2017 and 2018, such as The Sherwin-Williams' acquisition of Valspar, the possibility of further synergies cannot be ruled out. Leading players like AkzoNobel N.V, PPG, and The Sherwin-Williams continue to dominate the paints and coatings market. Smaller firms with strong regional presence face challenges in competing with global brands due to lower profitability and regulatory limitations.

1. Executive Summary

1.1. Global Paints & Coatings Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
  - 2.2.1.1. Driver A
  - 2.2.1.2. Driver B
  - 2.2.1.3. Driver C
- 2.2.2. Restraints
  - 2.2.2.1. Restraint 1
  - 2.2.2.2. Restraint 2
- 2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Pre-Covid and Post-Covid Scenario
- 2.5.2. Supply Impact
- 2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE

3. Production Output and Trade Statistics, 2018-2022

3.1. Regional Production Statistics
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East & Africa
3.2. Trade Statistics

4. Price Trends Analysis and Future Projects, 2018-2030

4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Resins
4.4. By Region

5. Global Paints & Coatings Market Outlook, 2018-2030

5.1. Global Paints & Coatings Market Outlook, by Resin Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Acrylic
  - 5.1.1.2. Alkyd
  - 5.1.1.3. Epoxy
  - 5.1.1.4. Polyurethane
  - 5.1.1.5. Vinyl
  - 5.1.1.6. Polyester
  - 5.1.1.7. Silicone
  - 5.1.1.8. Misc.
5.2. Global Paints & Coatings Market Outlook, by Technology, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Waterborne
  - 5.2.1.2. Solventborne
  - 5.2.1.3. Powder Coatings
  - 5.2.1.4. UV/EB Cured
5.3. Global Paints & Coatings Market Outlook, by End-user Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Architectural
  - 5.3.1.2. Automotive
  - 5.3.1.3. Marine
  - 5.3.1.4. Aerospace
  - 5.3.1.5. Oil & Gas
  - 5.3.1.6. General Industrial
  - 5.3.1.7. Wood Furniture
  - 5.3.1.8. Misc.
- 5.3.2. BPS/Market Attractiveness Analysis
5.4. Global Paints & Coatings Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 5.4.1. Key Highlights
  - 5.4.1.1. North America
  - 5.4.1.2. Europe
  - 5.4.1.3. Asia Pacific
  - 5.4.1.4. Latin America
  - 5.4.1.5. Middle East & Africa
- 5.4.2. BPS/Market Attractiveness Analysis

6. North America Paints & Coatings Market Outlook, 2018-2030

6.1. North America Paints & Coatings Market Outlook, by Resin Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Acrylic
  - 6.1.1.2. Alkyd
  - 6.1.1.3. Epoxy
  - 6.1.1.4. Polyurethane
  - 6.1.1.5. Vinyl
  - 6.1.1.6. Polyester
  - 6.1.1.7. Silicone
  - 6.1.1.8. Misc.
6.2. North America Paints & Coatings Market Outlook, by Technology, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Waterborne
  - 6.2.1.2. Solventborne
  - 6.2.1.3. Powder Coatings
  - 6.2.1.4. UV/EB Cured
6.3. North America Paints & Coatings Market Outlook, by End-user Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 6.3.1. Key Highlights
  - 6.3.1.1. Architectural
  - 6.3.1.2. Automotive
  - 6.3.1.3. Marine
  - 6.3.1.4. Aerospace
  - 6.3.1.5. Oil & Gas
  - 6.3.1.6. General Industrial
  - 6.3.1.7. Wood Furniture
  - 6.3.1.8. Misc.
6.4. North America Paints & Coatings Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 6.4.1. Key Highlights
  - 6.4.1.1. U.S.
  - 6.4.1.2. Canada
- 6.4.2. BPS/Market Attractiveness Analysis

7. Europe Paints & Coatings Market Outlook, 2018-2030

7.1. Europe Paints & Coatings Market Outlook, by Resin Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Acrylic
  - 7.1.1.2. Alkyd
  - 7.1.1.3. Epoxy
  - 7.1.1.4. Polyurethane
  - 7.1.1.5. Vinyl
  - 7.1.1.6. Polyester
  - 7.1.1.7. Silicone
  - 7.1.1.8. Misc.
7.2. Europe Paints & Coatings Market Outlook, by Technology, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Waterborne
  - 7.2.1.2. Solventborne
  - 7.2.1.3. Powder Coatings
  - 7.2.1.4. UV/EB Cured
7.3. Europe Paints & Coatings Market Outlook, by End-user Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Architectural
  - 7.3.1.2. Automotive
  - 7.3.1.3. Marine
  - 7.3.1.4. Aerospace
  - 7.3.1.5. Oil & Gas
  - 7.3.1.6. General Industrial
  - 7.3.1.7. Wood Furniture
  - 7.3.1.8. Misc.
7.4. Europe Paints & Coatings Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 7.4.1. Key Highlights
  - 7.4.1.1. Germany
  - 7.4.1.2. France
  - 7.4.1.3. U.K.
  - 7.4.1.4. Italy
  - 7.4.1.5. Spain
  - 7.4.1.6. Turkey
  - 7.4.1.7. Russia
  - 7.4.1.8. Rest of Europe
- 7.4.2. BPS/Market Attractiveness Analysis

8. Asia Pacific Paints & Coatings Market Outlook, 2018-2030

8.1. Asia Pacific Paints & Coatings Market Outlook, by Resin Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Acrylic
  - 8.1.1.2. Alkyd
  - 8.1.1.3. Epoxy
  - 8.1.1.4. Polyurethane
  - 8.1.1.5. Vinyl
  - 8.1.1.6. Polyester
  - 8.1.1.7. Silicone
  - 8.1.1.8. Misc.
8.2. Asia Pacific Paints & Coatings Market Outlook, by Technology, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Waterborne
  - 8.2.1.2. Solventborne
  - 8.2.1.3. Powder Coatings
  - 8.2.1.4. UV/EB Cured
8.3. Asia Pacific Paints & Coatings Market Outlook, by End-user Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 8.3.1. Key Highlights
  - 8.3.1.1. Architectural
  - 8.3.1.2. Automotive
  - 8.3.1.3. Marine
  - 8.3.1.4. Aerospace
  - 8.3.1.5. Oil & Gas
  - 8.3.1.6. General Industrial
  - 8.3.1.7. Wood Furniture
  - 8.3.1.8. Misc.
8.4. Asia Pacific Paints & Coatings Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 8.4.1. Key Highlights
  - 8.4.1.1. China
  - 8.4.1.2. Japan
  - 8.4.1.3. South Korea
  - 8.4.1.4. India
  - 8.4.1.5. Southeast Asia
  - 8.4.1.6. Rest of Asia Pacific
- 8.4.2. BPS/Market Attractiveness Analysis

9. Latin America Paints & Coatings Market Outlook, 2018 - 2030

9.1. Latin America Paints & Coatings Market Outlook, by Resin Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 9.1.1. Key Highlights
  - 9.1.1.1. Acrylic
  - 9.1.1.2. Alkyd
  - 9.1.1.3. Epoxy
  - 9.1.1.4. Polyurethane
  - 9.1.1.5. Vinyl
  - 9.1.1.6. Polyester
  - 9.1.1.7. Silicone
  - 9.1.1.8. Misc.
9.2. Latin America Paints & Coatings Market Outlook, by Technology, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 9.2.1. Key Highlights
  - 9.2.1.1. Waterborne
  - 9.2.1.2. Solventborne
  - 9.2.1.3. Powder Coatings
  - 9.2.1.4. UV/EB Cured
9.3. Latin America Paints & Coatings Market Outlook, by End-user Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 9.3.1. Key Highlights
  - 9.3.1.1. Architectural
  - 9.3.1.2. Automotive
  - 9.3.1.3. Marine
  - 9.3.1.4. Aerospace
  - 9.3.1.5. Oil & Gas
  - 9.3.1.6. General Industrial
  - 9.3.1.7. Wood Furniture
  - 9.3.1.8. Misc.
9.4. Latin America Paints & Coatings Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 9.4.1. Key Highlights
  - 9.4.1.1. Brazil
  - 9.4.1.2. Mexico
  - 9.4.1.3. Rest of Latin America
- 9.4.2. BPS/Market Attractiveness Analysis

10. Middle East & Africa Paints & Coatings Market Outlook, 2018-2030

10.1. Middle East & Africa Paints & Coatings Market Outlook, by Resin Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 10.1.1. Key Highlights
  - 10.1.1.1. Acrylic
  - 10.1.1.2. Alkyd
  - 10.1.1.3. Epoxy
  - 10.1.1.4. Polyurethane
  - 10.1.1.5. Vinyl
  - 10.1.1.6. Polyester
  - 10.1.1.7. Silicone
  - 10.1.1.8. Misc.
10.2. Middle East & Africa Paints & Coatings Market Outlook, by Technology, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 10.2.1. Key Highlights
  - 10.2.1.1. Waterborne
  - 10.2.1.2. Solventborne
  - 10.2.1.3. Powder Coatings
  - 10.2.1.4. UV/EB Cured
10.3. Middle East & Africa Paints & Coatings Market Outlook, by End-user Type, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 10.3.1. Key Highlights
  - 10.3.1.1. Architectural
  - 10.3.1.2. Automotive
  - 10.3.1.3. Marine
  - 10.3.1.4. Aerospace
  - 10.3.1.5. Oil & Gas
  - 10.3.1.6. General Industrial
  - 10.3.1.7. Wood Furniture
  - 10.3.1.8. Misc.
10.4. Middle East & Africa Paints & Coatings Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018-2030
- 10.4.1. Key Highlights
  - 10.4.1.1. GCC
  - 10.4.1.2. South Africa
  - 10.4.1.3. Rest of Middle East & Africa
- 10.4.2. BPS/Market Attractiveness Analysis

11. Competitive Landscape

11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Company Profiles
- 11.3.1. Sherwin-Williams
  - 11.3.1.1. Company Overview
  - 11.3.1.2. Product Portfolio
  - 11.3.1.3. Financial Overview
  - 11.3.1.4. Business Strategies and Development
- 11.3.2. PPG Industries Inc.
- 11.3.3. Nippon Paint Holdings Co., Ltd.
- 11.3.4. Axalta Coating Systems Ltd.
- 11.3.5. RPM International Inc.
- 11.3.6. BASF SE
- 11.3.7. Asian Paints Ltd.
- 11.3.8. Kansai Paint Co., Ltd.
- 11.3.9. Masco Corporation
- 11.3.10. Jotun
- 11.3.11. Hempel A/S
- 11.3.12. Skshu Paint Co Ltd.
- 11.3.13. Benjamin Moore & Co.
- 11.3.14. Korea Chemical Co., Ltd.
- 11.3.15. Berger Paints Ltd.
- 11.3.16. Mirai Corporation

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations