Frost Radar: Digitalization in Coating Companies, 2025

A Benchmarking System to Spark Companies to Action - Innovation That Fuels New Deal Flow and Growth Pipelines

The chemicals industry has been undergoing a continuous, but gradual, transformation with the aid of digital technologies. The paints and coatings space leads in terms of the extent of digitalization adopted in various domains of the value chain to address unmet needs, although a significant portion of investment is focused on enhancing value through customer-centric platforms, apps, digital products, and services.

Since 2020, leading companies have demonstrated consistent revenue growth. With regulations, geopolitical factors, and megatrends such as sustainability and digitalization transforming the many verticals in which coatings are used, the industry will continue on this growth trajectory while experiencing transformational changes in its product portfolios and business models.

Digitalization will play a prominent role in helping companies achieve these objectives. Coating companies have already begun realizing the benefits of advanced digital technologies and solutions based on artificial intelligence, machine learning, the internet of things, and blockchain in various areas of operation, including product development, manufacturing, supply chain, and sales and marketing.

The coatings market is fragmented, with the top 15 companies holding a combined market share of about 30% and more than 100 regional or global companies accounting for the remainder. Most of the top 15 and many of the others are pure-play coating companies, though some are more diversified.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.