Report Highlights
The global market for paints and coatings was valued at $194.0 billion in 2023. The market is expected to grow from $203.8 billion in 2024 and should reach $263.2 billion by 2029, at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2029.
Report Includes
- 92 data tables and 41 additional tables
- An overview of the global markets and advanced technologies for paints and coatings
- Analysis of global market trends, featuring historical revenue data for 2023, estimated figures for 2024, forecasts for 2025 and 2029, and projected CAGRs through 2029
- Discussion of the integration of nanotechnology in the paints and coatings industry, and how it will lead to more durable and functional coatings
- Identification of the new opportunities, challenges, and technological changes in the industry
- Market share analysis by technology, chemistry, end use and region
- Analysis of R&D activity, product launches and the regulatory scenario
- Analysis of the key companies’ market shares, mergers & acquisitions, joint ventures, partnerships, and other market strategies
- Profiles of major market players, including Akzo Nobel N.V., Asian Paints Ltd., Axalta Coating Systems, PPG Industries Inc., and The Sherwin Williams Co.
Report Scope
This report analyzes the global paints and coatings market by segmenting it based on technology, chemistry and end use. These market segments are further analyzed at the global and regional levels. The base year for this analysis is 2023 and market estimates and forecasts are given from 2024 through 2029. The market estimates are provided in terms of revenue (U.S. dollars, million).
On the basis of technology, the market is segmented into water-borne, solvent-borne, powder coatings, UV cure and emerging technologies such as (nano-coatings/smart coatings, vapor permeation technology, thermal barrier technology and others). The market is segmented based on chemistry into acrylic, epoxy, polyurethane, alkyd, polyester, vinyl and others (such as silicone, urea-formaldehyde and phenolic resins). Based on end-use, the market is classified into architectural and industrial coatings.
Report Synopsis
| Report Metrics | Details | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||
| Base year market size | $194.0 Billion | ||||||||||||
| Market size forecast | $263.2 Billion | ||||||||||||
| Growth rate | CAGR of 5.2% from 2024 to 2029 | ||||||||||||
| Units considered | $ Millions | ||||||||||||
| Segments covered | By Technology, Chemistry, End-Use, and Region | ||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, and the Rest of World (the Middle East and Africa and South America) | ||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Increasing demand from the automotive industry.
- Increasing demand for architectural coating.
Analyst Credentials
Noopur Deshmukh– Associate Consultant-Advanced Materials Research
Noopur Deshmukh has over six years of industry experience in market research and analysis, specializing in advanced materials. She has experience in several domains, such as chemicals, materials, polymers, packaging, technology, and others. She works majorly on research studies, data gathering, market estimation & forecast, and competitive analysis, and providing clients with custom reports based on their business requirements. Academically, Noopur holds a master’s degree in Marketing and a bachelor’s degree in Engineering.
Consulting Editor’s Credentials
Andrew McWilliams has over 40 years’ experience in marketing strategy and research with top consulting firms like Kearney and EY, and as an independent consultant. He has been a BCC Research contributor for over 20 years. Mr. McWilliams has a BA from Princeton University and an MA from Harvard University. He resides in the greater Boston area.
Report Highlights
The global market for paints and coatings should grow from $158.6 billion in 2021 to $203.8 billion by 2026, at compound annual growth rate (CAGR) of 5.1% for the period of 2021-2026.
Report Includes
- 87 tables
- An overview of the global market & advanced technologies for paints & coatings
- Estimation of the market size and analyses of global market trends, with data from 2019, estimates for 2020, 2021 and projections of compound annual growth rates (CAGRs) through 2026
- A look at the increased demand for coatings driven by customers’ expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality, and environmental properties
- Identification of new market opportunities and targeted promotional plans for paints and coatings
- Coverage of new technologies, R&D progress, market forecast and recent activities in the paints and coatings industry
- Details covering new developments taking place in the industry with respect to continuous improvements in environmental performance
- Company profiles of major players in the market, including 3M, Celanese Corp., Dow Corning Corp., Evonik Industries AG and Nippon Paint Co. Ltd.
Report Highlights
The global paints and coatings market should reach $191.9 billion by 2023 from $150.5 billion in 2018 at a compound annual growth rate (CAGR) of 5.0% for the period of 2018-2023.
Report Includes
- 82 data tables
- An overview of the global market for paints and coatings, related technologies, and coating products, such as solvent-borne formulations, varnishes, enamels, lacquers, and water-based systems
- Analyses of global market trends, with data for 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- A look at the increased demand for coatings driven by customers’ expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality, and environmental properties
- Identifications of new market opportunities and targeted promotional plans for paints and coatings
- Discussion of research and development, as well as the demand for new products and new applications
- Details covering new developments taking place in the industry with respect to continuous improvements in environmental performance
- Examination of the role paints and coatings play in providing color and protection
- Company profiles of major players in the market, including 3M, AkzoNobel, Buhler Group, Clariant AG, Dow Corning Corp., and Kansai Paint Co. Ltd.
Report Highlights
The global market for paints and coatings reached $129 billion in 2015. This market is expected to grow from nearly $132.2 billion in 2016 to $164.1 billion in 2021 at a compound annual growth rate of 4.4% from 2016-2021.
Report Includes
- An overview of the global market for paints and coatings, related technologies, and coating products, such as solvent-borne formulations, varnishes, enamels, lacquers and water-based systems
- Analyses of global market trends, with data for 2015, estimates for 2016, and projections of compound annual growth rates (CAGRs) through 2021.
- A look at the increased demand for coatings driven by customers’ expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality and environmental properties
- Identifications of new market opportunities and targeted promotional plans for paints and coatings
- Discussion of research and development, and the demand for new products and new applications
- Details covering new developments taking place in the industry with respect to continuous improvements in environmental performance
- Examination of the role paints and coatings play in providing color and protection
- Profiles of major players in the industry
Report Highlights
The global paints and coatings market is expected to reach $127.0 billion by the end of 2015 and further increase to $155.6 billion by 2020, a compound annual growth rate (CAGR) of 4.1% over the five-year period of 2015 through 2020.
Report Includes
- An overview of the global market for paints and coatings and related technologies.
- Analyses of global market trends, with data from 2013, estimates for 2014 and 2015, and projections of compound annual growth rates (CAGRs) through 2020.
- Identifications of new market opportunities and targeted promotional plans for paints and coatings.
- Discussion of research and development, and the demand for new products and new applications.
- Examination of the role of paints and coatings play in providing color and protection.
- Comprehensive company profiles of major players in the industry.
Report Highlights
The global market for paints and coatings was valued at $111.2 billion in 2012 and should reach $116.9 billion in 2013. Total market valued is expected to reach $141 billion in 2018 after increasing at a five-year compound annual growth rate of 3.8% from 2013 to 2018.
Report Includes
- An overview of the global market for paints and coatings.
- Analyses of global market trends, with data from 2011 and 2012, estimates for 2013, and projections of CAGRs through 2018.
- Identifications of new market opportunities and targeted promotional plans for paints and coatings.
- Discussion of research and development, and the demand for new products and new applications.
- Examination of the role of paints and coatings in providing color and protection.
- Comprehensive company profiles of major players in the industry.
Report Highlights
The global paints and coatings market reached an estimated $99.7 billion by the end of 2010. This global market figure is expected to increase with a modest compound annual growth rate (CAGR) of 3.2% for the 5-year period of 2010 to 2015 and reach $116.6 billion by the end of 2015.
Report Highlights
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The global market for paints and coatings increased from $88.3 billion in 2006 to an estimated $91.2 billion in 2007. It should reach $102.8 billion by 2012, a compound annual growth rate (CAGR) of 2.4%.
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Much of the growth over the past 5 years has been driven by increasing demand in developing markets, especially China, Thailand, Indonesia, India and Taiwan, along with Eastern Europe, comprising Russia, Hungary and the Baltic States.
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In the application sector, automotive coatings are recording strong growth due to increased car ownership at the global level, especially in Asia Pacific and Eastern Europe.
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