Paints and Coatings Market Size, Trends Analysis Report, 2030

Paints and Coatings Poised for Sustained Uptake Worldwide

Every year, more than 40 MT paints and coatings are produced worldwide. There has been sustained demand for paints and coatings not only for enhanced aesthetics and improved durability but also for protection and endurance of an extensive range of natural and synthetic materials and products. Moreover, paints and coatings continue to be a preference for providing products, materials, and structures with a reliable a barrier against environmental conditions. This is expected to remain the key factor responsible for a stable growth outlook of global paints and coatings market. Asia Pacific was the leading paints and coatings market in 2018, accounting for more than half the global production. China held the highest share with growing demand from both architectural, and industrial applications, thereby pushing paints and coatings market in the region further.

With green technologies firming up across industries and regulations compelling manufacturing companies to strictly comply with concerned guidelines, the dynamics of paints and coatings market will continue to experience a change. Hundreds of smaller companies not operating their businesses in line with the government regulations retreated from the market in the last few years. Production-demand equations have been balanced in paints and coatings market has been a good balance of production and demand across the regions, with only minor quantities of high-value products being traded. The paints and coatings industry typically grows in tandem with economy of the country. In this light, paints and coatings market is poised for a sustained growth outlook is expected in developing economies over the coming years.

Industrial Application Areas Continue to Elevate Prospects of Paints and Coatings Market

Architecture is one of the leading end-use industries of paints and coatings that captured approximately 50% of the market value share in 2018. Rebound in construction activities, and exceptional progress of the residential sector are expected to primarily account for the escalating consumption of architectural coatings. New products are being developed by the companies to meet Leadership in Energy and Environmental Design (LEED) specifications, especially for residential and commercial structures. Industrial sector remains another major end user that generates notable demand for paints and coatings for protective, and decorative applications. Adoption of paints and coatings for preventing steel and concrete from corrosion is likely to uphold demand in future. Other industrial application areas include automotive, wood, industrial machinery/equipment, and metal containers, whereas some other miscellaneous end-use segments include marine, highway & traffic markings, and refinishing.

Inclination Toward Odour-free, and Eco-friendly Products Becomes Pivotal to Market

Paints and coatings are one of the most strictly regulated industries and have gone through lot of changes in the past few years. Consumer preference and pollution regulations from authorities will continue to be the driving force behind the market growth over the next few years. Several governments have been focusing on limiting hazardous air pollutants (HPA), and volatile organic compounds (VOC) in both architectural, and industrial areas. Rising solvent and raw material costs (50-60% of the total costs), and growing significance of energy conservation are also the key factors shaping up the paints and coatings industry. Transitional and emerging economies are especially projected to drive noteworthy demand for paints and coatings in future.

Surging consumer awareness and preference for odour-free, chemical-free, and lesser harmful paints have been directing manufacturing brands to adopt a shift to green technologies in both residential and commercial spaces. Furthermore, consumers are also looking for digital interfaces, thus expecting a major disruption in the flow of traditional distribution channels in the industry. Digital transformation is expected to open new revenue generation streams for companies in paints and coatings market. Furthermore, there is a growing trend of direct-to-consumer, and brands such as Clare and Backdrop are likely to pose a significant threat to traditionally operating companies. These brands are likely to make a substantial impact on slow growth categories to eventually capture the traditional consumer base.

Rising Raw Material Costs Curtail Profit Margins

COVID-19 crisis has largely disrupted the paints and coatings market across all the regions. China is one of the major suppliers of raw materials and restricted movement has dealt a huge blow on the manufacturing activities worldwide. Environmental and health concerns to reduce VOCs, and HPAs are forcing the manufactures to create more complex formulations to meet the legislative demand. Rising solvent and raw materials cost are also likely to hamper market growth, especially in slow growth categories. Raw material prices have been volatile earlier as well, which has severely affected the profitability. Price volatility has been subject to the two key factors, i.e., rising oil prices, and tight supply. Supply of TiO₂, and resins has been tight in the recent past that continues to directly impact the final cost of the product.

Is Industry Going for More Consolidation?

After experiencing major consolidation between 2017 and 2018 such as The Sherwin-Williams acquisition of Valspar the one with highest magnitude, the odds of more synergies cannot be ruled out. A majority of leading players are operating in mature markets with insignificant underlying growth. M&A can offer significant synergies and can save raw material costs and operational expenses. Companies such AkzoNobel N.V, PPG, and The Sherwin-Williams continue to hold larger shares in paints and coatings market. Many have been restructuring their businesses. In 2018, AkzoNobel sold its speciality chemicals business to Carlyle to defend its commitment to its core paints and coatings business after rejecting the PPG takeover. A number of smaller firms in global paints and coatings market have strong regional presence but find it challenging to compete with globally leading brands due to lower profitability, and regulatory limitations.

Regional Classification of the Global Paints and Coatings Market is Listed Below:

North America

U.S.
Canada

Europe

Germany
France
Spain
U.K.
Italy
Russia
Rest of Europe

Asia Pacific

China
Japan
India
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East and Africa

GCC
South Africa
Rest of Middle East & Africa

1. Executive Summary
1.1. Global Paints and 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 and Coatings Market Outlook, 2018 - 2030
5.1. Global Paints and 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 and 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 and 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 and 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 and Coatings Market Outlook, 2018 - 2030
6.1. North America Paints and 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 and 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 and 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 and 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 and Coatings Market Outlook, 2018 - 2030
7.1. Europe Paints and 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 and 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 and 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 and 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 and Coatings Market Outlook, 2018 - 2030
8.1. Asia Pacific Paints and 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 and 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 and 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 and 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 and Coatings Market Outlook, 2018 – 2030
9.1. Latin America Paints and 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 and 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 and 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 and 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 and Coatings Market Outlook, 2018 - 2030
10.1. Middle East & Africa Paints and 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 and 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 and 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 and 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
(*Note: Above details would be available for below list of companies based on availability)
  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

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)

Member

Latest Reports

Our Research Methodology