Paints and Coatings Market Research Report: By Technology, Formulation, and Application - Global Industry Analysis and Growth Forecast to 2030

From $151,399.4 million in 2020, the global paints and coatings market will likely grow to $266,243.2 million by 2030, witnessing a 5.8% CAGR between 2020 and 2030. The biggest driver for the industry is the growing construction industry In Sweden, China, the U.S., India, Australia, Canada, and the U.K. with the rising population and urbanization rate.

Moreover, the rising sale of automobiles, which is also a result of the surging population, rapid urbanization, and increasing disposable income, is driving the demand for paints and coatings. In automobile manufacturing, several layers of coatings are used, including a primer, basecoat, clearcoat, and electrocoat. Moreover, in the event of damage due to accident or environmental forces, refinish coatings are applied on vehicles.

Key Findings of Paints and Coatings Market Report

Acrylic formulations are consumed in the highest volumes because of their high solubility, elasticity, versatility, non-toxic nature, and water resistance. As a result, acrylic paints and coatings are popular for interior and exterior walls, door panels, and windows.

For paints and coatings market players, architectural applications generate the highest revenue owing to the population explosion propelling the construction of residential, commercial, and industrial spaces.

The demand for ultraviolet paints and coatings will increase the fastest, as they are hard, free of volatile organic compounds (VOCs), resistant to abrasion, and highly reactive, cure rapidly, have a long shelf life, and can be processed at low temperatures.

The COVID-19 pandemic has reduced the sale of paints and coatings by shutting down construction sites. Moreover, people’s income declined, which is why they did not spend much on renovating their homes and other spaces.

Currently, smart coatings are trending among end users as they can change their properties in response to stimuli such as heat and electricity. Moreover, they clean, stratify, and heal themselves, which is why they are used in high volumes on aircraft engines and oil and gas platforms.

The market is fragmented as almost every country is home to a large number of paint and coating manufacturers. To stay ahead in the competition, major players are merging with or acquiring similar companies.

Asia-Pacific (APAC) has been the largest paints and coatings market in the past. APAC is the most-populated region and home to the world’s largest construction and automotive industries, which creates a huge demand for paints and coatings. Further, government and private investments in the regional real estate sector are increasing, thereby propelling the market growth.

Some of the most-significant players in the paints and coatings market are Akzo Nobel N.V., The Sherwin-Williams Company, PPG Industries Inc., Kansai Paint Co. Ltd., BASF SE, Nippon Paint Holdings Co. Ltd., RPM International Inc., Axalta Coating Systems Ltd., Jotun A/S, and Masco Corporation.

Frequently Asked Questions about the Paints and Coatings Market

What is the estimated value of the Paints and Coatings Market?

The Paints and Coatings Market was estimated to be valued at $151399.4 Million in 2020.

What is the growth rate of the Paints and Coatings Market?

The growth rate of the Paints and Coatings Market is 5.8%, with an estimated value of $266243.2 Million by 2030.

What is the forecasted size of the Paints and Coatings Market?

The Paints and Coatings Market is estimated to be worth $266243.2 Million by 2030.

Who are the key companies in the Paints and Coatings Market?

Key companies in the Paints and Coatings Market include Akzo Nobel N.V., PPG Industries Inc., The Sherwin, Williams Company, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., BASF SE, RPM International Inc., Jotun A/S and Axalta Coating Systems Ltd..

Report Attribute	Details
No. of Pages	299
Published	December 2021
Forecast Period	2020 - 2030
Estimated Market Value ( USD ) in 2020	$ 151399.4 Million
Forecasted Market Value ( USD ) by 2030	$ 266243.2 Million
Compound Annual Growth Rate	5.8%
Regions Covered	Global
No. of Companies Mentioned	11

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Technology
1.3.2 Market Segmentation by Formulation
1.3.3 Market Segmentation by Application
1.3.4 Market Segmentation by Region
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments
4.1.1 By Technology
4.1.1.1 Water-borne
4.1.1.2 Solvent-borne
4.1.1.3 High solids
4.1.1.4 Powder coatings
4.1.1.5 UV
4.1.2 By Formulation
4.1.2.1 Acrylic
4.1.2.2 Polyester
4.1.2.3 Polyurethane
4.1.2.4 Epoxy
4.1.2.5 Others
4.1.3 By Application
4.1.3.1 Architectural coatings
4.1.3.2 Industrial coatings
4.1.3.2.1 Automotive OEM coatings
4.1.3.2.2 Wood finishes
4.1.3.2.3 Powder coatings
4.1.3.2.4 Coil coatings
4.1.3.2.5 Packaging finishes
4.1.3.2.6 General industrial finishes
4.1.3.2.7 Other transportation coatings
4.1.3.3 Special coatings
4.1.3.3.1 Automotive refinish coatings
4.1.3.3.2 Protective coatings
4.1.3.3.3 Marine coatings
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Adoption of smart coatings
4.2.1.2 Development of bio-functional paints and coatings
4.2.2 Drivers
4.2.2.1 Growing construction industry
4.2.2.2 Increasing demand for automobiles
4.2.2.3 Surging demand for paints and coatings from oil and gas industry
4.2.2.4 Growing consumer spending
4.2.2.5 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Increasing raw material price
4.2.3.2 Stringent government regulations
4.2.3.3 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Introduction of nanotechnology
4.3 Value Chain Analysis
4.4 Impact of COVID-19 on Global Paints and Coatings Market
4.5 Porter’s Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Intensity of Rivalry
4.5.4 Threat of New Entrants
4.5.5 Threat of Substitutes

Chapter 5. Global Market Size and Forecast

5.1 By Technology
5.2 By Formulation
5.3 By Application
5.3.1 By Industrial Coatings
5.3.2 By Special Coatings
5.4 By Region

Chapter 6. North America Market Size and Forecast

6.1 By Technology
6.2 By Formulation
6.3 By Application
6.3.1 By Industrial Coatings
6.3.2 By Special Coatings
6.4 By Country

Chapter 7. Europe Market Size and Forecast

7.1 By Technology
7.2 By Formulation
7.3 By Application
7.3.1 By Industrial Coatings
7.3.2 By Special Coatings
7.4 By Country

Chapter 8. APAC Market Size and Forecast

8.1 By Technology
8.2 By Formulation
8.3 By Application
8.3.1 By Industrial Coatings
8.3.2 By Special Coatings
8.4 By Country

Chapter 9. LATAM Market Size and Forecast

9.1 By Technology
9.2 By Formulation
9.3 By Application
9.3.1 By Industrial Coatings
9.3.2 By Special Coatings
9.4 By Country

Chapter 10. MEA Market Size and Forecast

10.1 By Technology
10.2 By Formulation
10.3 By Application
10.3.1 By Industrial Coatings
10.3.2 By Special Coatings
10.4 By Country

Chapter 11. Major Market Segment Analysis

11.1 China Market
11.1.1 By Technology
11.1.2 By Formulation
11.1.3 By Application
11.1.3.1 By industrial coatings
11.1.3.2 By special coatings
11.2 U.S. Market
11.2.1 By Technology
11.2.2 By Formulation
11.2.3 By Application
11.2.3.1 By industrial coatings
11.2.3.2 By special coatings
11.3 India Market
11.3.1 By Technology
11.3.2 By Formulation
11.3.3 By Application
11.3.3.1 By industrial coatings
11.3.3.2 By special coatings
11.4 Brazil Market
11.4.1 By Technology
11.4.2 By Formulation
11.4.3 By Application
11.4.3.1 By industrial coatings
11.4.3.2 By special coatings
11.5 Germany Market
11.5.1 By Technology
11.5.2 By Formulation
11.5.3 By Application
11.5.3.1 By industrial coatings
11.5.3.2 By special coatings

Chapter 12. Competitive Landscape

12.1 Market Share Analysis of Key Players
12.2 Competitive Benchmarking of Key Players
12.3 List of Other Players
12.4 Global Strategic Developments of Key Players
12.4.1 Mergers and Acquisitions
12.4.2 Product Launches
12.4.3 Partnerships/ Joint Ventures
12.4.4 Facility Expansions
12.4.5 Other Developments

Chapter 13. Company Profiles

13.1 Akzo Nobel N.V.
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.1.3 Key Financial Summary
13.2 PPG Industries Inc.
13.2.1 Business Overview
13.2.2 Product and Service Offerings
13.2.3 Key Financial Summary
13.3 The Sherwin-Williams Company
13.3.1 Business Overview
13.3.2 Product and Service Offerings
13.3.3 Key Financial Summary
13.4 Kansai Paint Co. Ltd.
13.4.1 Business Overview
13.4.2 Product and Service Offerings
13.4.3 Key Financial Summary
13.5 Nippon Paint Holdings Co. Ltd.
13.5.1 Business Overview
13.5.2 Product and Service Offerings
13.5.3 Key Financial Summary
13.6 BASF SE
13.6.1 Business Overview
13.6.2 13.2.2 Product and Service Offerings
13.6.3 Key Financial Summary
13.7 RPM International Inc.
13.7.1 Business Overview
13.7.2 Product and Service Offerings
13.7.3 Key Financial Summary
13.8 Jotun A/S
13.8.1 Business Overview
13.8.2 Product and Service Offerings
13.8.3 Key Financial Summary
13.9 Axalta Coating Systems Ltd.
13.9.1 Business Overview
13.9.2 Product and Service Offerings
13.9.3 Key Financial Summary
13.10 Masco Corporation
13.10.1 Business Overview
13.10.2 Product and Service Offerings
13.10.3 Key Financial Summary
13.11 Asian Paints Limited
13.11.1 Business Overview
13.11.2 Product and Service Offerings
13.11.3 Key Financial Summary

Chapter 14. Appendix

14.1 Abbreviations
14.2 Sources and References
14.3 Related Reports

List of Figures

Figure 1: RESEARCH SCOPE
Figure 2: RESEARCH METHODOLOGY
Figure 3: REGIONAL SPLIT OF PRIMARY AND SECONDARY RESEARCH
Figure 4: BREAKDOWN OF PRIMARY RESEARCH BY REGION
Figure 5: BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
Figure 6: BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
Figure 7: DATA TRIANGULATION APPROACH
Figure 8: CURRENCY CONVERSION RATES FOR USD (2020)
Figure 9: GLOBAL PAINTS AND COATINGS MARKET SUMMARY
Figure 10: GLOBAL SALES OF NEW VEHICLES, MILLION UNITS (2014-2019)
Figure 11: VALUE CHAIN ANALYSIS OF PAINTS AND COATINGS MARKET
Figure 12: BARGAINING POWER OF BUYERS
Figure 13: BARGAINING POWER OF SUPPLIERS
Figure 14: INTENSITY OF RIVALRY
Figure 15: THREAT OF NEW ENTRANTS
Figure 16: THREAT OF SUBSTITUTES
Figure 17: GLOBAL PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 18: GLOBAL PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 19: GLOBAL PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 20: GLOBAL INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 21: GLOBAL SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 22: MAJOR WORLDWIDE MARKETS FOR PAINTS AND COATINGS
Figure 23: NORTH AMERICA PAINTS AND COATINGS MARKET SNAPSHOT
Figure 24: NORTH AMERICA PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 25: NORTH AMERICA PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 26: NORTH AMERICA PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 27: NORTH AMERICA INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 28: NORTH AMERICA SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 29: NORTH AMERICA PAINTS AND COATINGS MARKET, BY COUNTRY, MILLION LITERS (2015-2030)
Figure 30: EUROPE PAINTS AND COATINGS MARKET SNAPSHOT
Figure 31: EUROPE PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 32: EUROPE PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 33: EUROPE PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 34: EUROPE INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 35: EUROPE SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 36: EUROPE PAINTS AND COATINGS MARKET, BY COUNTRY, MILLION LITERS (2015-2030)
Figure 37: APAC PAINTS AND COATINGS MARKET SNAPSHOT
Figure 38: APAC PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 39: APAC PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 40: APAC PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 41: APAC INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 42: APAC SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 43: APAC PAINTS AND COATINGS MARKET, BY COUNTRY, MILLION LITERS (2015-2030)
Figure 44: LATAM PAINTS AND COATINGS MARKET SNAPSHOT
Figure 45: LATAM PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 46: LATAM PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 47: LATAM PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 48: LATAM INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 49: LATAM SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 50: LATAM PAINTS AND COATINGS MARKET, BY COUNTRY, MILLION LITERS (2015-2030)
Figure 51: MEA PAINTS AND COATINGS MARKET SNAPSHOT
Figure 52: MEA PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 53: MEA PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 54: MEA PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 55: MEA INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 56: MEA SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 57: MEA PAINTS AND COATINGS MARKET, BY COUNTRY, MILLION LITERS (2015-2030)
Figure 58: CHINA PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 59: CHINA PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 60: CHINA PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 61: CHINA INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 62: CHINA SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 63: U.S. PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 64: U.S. PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 65: U.S. PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 66: U.S. INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 67: U.S. SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 68: INDIA PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 69: INDIA PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 70: INDIA PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 71: INDIA INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 72: INDIA SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 73: BRAZIL PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 74: BRAZIL PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 75: BRAZIL PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 76: BRAZIL INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 77: BRAZIL SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 78: GERMANY PAINTS AND COATINGS MARKET, BY TECHNOLOGY, MILLION LITERS (2015-2030)
Figure 79: GERMANY PAINTS AND COATINGS MARKET, BY FORMULATION, MILLION LITERS (2015-2030)
Figure 80: GERMANY PAINTS AND COATINGS MARKET, BY APPLICATION, MILLION LITERS (2015-2030)
Figure 81: GERMANY INDUSTRIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 82: GERMANY SPECIAL COATINGS MARKET, BY TYPE, MILLION LITERS (2015-2030)
Figure 83: GLOBAL PAINTS AND COATINGS MARKET SHARE ANALYSIS OF KEY PLAYERS (2020)
Figure 84: AKZO NOBEL N.V. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 85: PPG INDUSTRIES INC. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 86: THE SHERWIN-WILLIAMS COMPANY - REVENUE SPLIT BY SEGMENT (2020)
Figure 87: KANSAI PAINT CO. LTD. - REVENUE SPLIT BY CATEGORY AND GEOGRAPHY (2021)
Figure 88: NIPPON PAINT HOLDINGS CO. LTD. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 89: BASF SE - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 90: RPM INTERNATIONAL INC. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2021)
Figure 91: JOTUN A/S - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 92: AXALTA COATING SYSTEMS LTD. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 93: MASCO CORPORATION - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 94: ASIAN PAINTS LIMITED - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2021)