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Central America Paints and Coatings Market Report and Forecast 2023-2028

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    Report

  • 125 Pages
  • December 2022
  • Expert Market Research
  • ID: 5713675

Market Outlook

According to the report the Central America paints and coatings market attained a value of more than USD 2,763.2 million in 2022. Aided by the growing innovations in paints and coatings and their increasing production, the market is projected to further grow at a CAGR of 3.9% between 2023 and 2028 to reach a value of USD 3,443.6 million by 2028.

Paints and coatings are defined as thin films of decorative or protective coverings which are applied to the interior or exterior surfaces of a structure. Paints and coatings bolster the aesthetic appeal of a structure while improving the surface characteristics and performance. Moreover, paints and coatings are applied across various sectors to enhance building performance characteristics. Across Central America, automotive, electrical appliances, furniture, and buildings, among other sectors use paints and coatings.

Strong presence of local and global manufacturers in the region is offering lucrative opportunities to the Central America paints and coatings market. Increasing investments by the leading market players aimed towards expanding their production capacities across emerging economies such a Mexico, are further bolstering the market growth. For instance, PPG Paints announced an investment of EUR 11 million in Mexico to enhance the powder coatings production capacity by mid-2023. These types of coatings offer enhanced protection, superior quality, greater efficiency of transfer, and better sustainability, which are likely to boost their application across various end use sectors in the region.

The increasing demand for architectural paints and coatings in the region is a crucial driving factor of the Central America paints and coatings market. Over the forecast period, the thriving building and construction sector, rising standards of living, and increasing disposable income, are expected to garner the demand for paints and coatings. Further, the increasing inclination towards improvements and home renovations are likely to provide impetus to the market.

Research and development activities of major market players are leading to progressive product innovations. Development of eco-friendly paints and coatings is one such example, which is expected to witness a heightened demand due to the increasing awareness about climate change and stringent regulations by various governments targeted towards reducing the impact of construction activities on the environment.

Furthermore, the technical upgradations in the automobile sector are likely to have a positive impact on the paints and coatings market in Central America.

Market Segmentation

The market can be divided on the basis of resin type, technology, application, and country.

Market Breakup by Resin Type

  • Acrylic
  • Alkyd
  • Epoxy
  • Polyester
  • Polyurethane
  • Others

Market Segmentation by Technology

  • Powder Based
  • Water-Borne
  • Solvent-Borne
  • Others

Market Classification by Application

  • Architectural

Industrial

  • General Industrial
  • Automotive and Transportation
  • Wood
  • Aerospace and Marine
  • Protective
  • Others

Market Breakup by Country

  • Costa Rica
  • El Salvador
  • Guatemala
  • Mexico
  • Honduras
  • Belize
  • Others

Competitive Landscape

This report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Central America paints and coatings market companies. Some of the major key players explored in the report by the publisher are as follows:
  • PPG Industries, Inc
  • The Sherwin-Williams Company
  • Benjamin Moore & Co
  • Sur Quimica SA
  • Harris Paints
  • Pintuco SA
  • Others
*The publisher always strives to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
Frequently Asked Questions about the Central American Paints and Coatings Market

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

The Central American Paints and Coatings Market was estimated to be valued at $2849.5 Million in 2023.

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

The growth rate of the Central American Paints and Coatings Market is 3.9%, with an estimated value of $3443.6 Million by 2028.

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

The Central American Paints and Coatings Market is estimated to be worth $3443.6 Million by 2028.

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

Key companies in the Central American Paints and Coatings Market include Benjamin Moore & Co., Sur Quimica S.A., Harris Paints, The Sherwin, Williams Company and PPG Industries, Inc..

Table of Contents

1 Preface

2 Report Coverage - Key Segmentation and Scope

3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players

4 Key Assumptions

5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends

6 Market Snapshot

7 Industry Opportunities and Challenges

8 Central America Paints and Coatings Market Analysis
8.1 Key Industry Highlights
8.2 Central America Paints and Coatings Historical Market (2018-2022)
8.3 Central America Paints and Coatings Market Forecast (2023-2028)
8.4 Central America Paints and Coatings Market by Resin Type
8.4.1 Acrylic
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Alkyd
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Epoxy
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Polyester
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Polyurethane
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Central America Paints and Coatings Market by Technology
8.5.1 Powder Based
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Water-Borne
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Solvent-Borne
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Central America Paints and Coatings Market by Application
8.6.1 Architectural
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Industrial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.2.4 Breakup by Application Type
8.6.2.4.1 General Industrial
8.6.2.4.2 Automotive and Transportation
8.6.2.4.3 Wood
8.6.2.4.4 Aerospace and Marine
8.6.2.4.5 Protective
8.6.2.4.6 Others
8.7 Central America Paints and Coatings Market by Country
8.7.1 Market Share
8.7.1.1 Costa Rica
8.7.1.2 El Salvador
8.7.1.3 Guatemala
8.7.1.4 Mexico
8.7.1.5 Honduras
8.7.1.6 Belize
8.7.1.7 Others

9 Regional Analysis
9.1 Costa Rica
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 El Salvador
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 Guatemala
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 Belize
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.5 Mexico
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5 Honduras
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)

10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Powers
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes

11 Competitive Landscape
11.1 Market Structure
11.2 List of Key Market Players
11.3 Company Profiles
11.3.1 PPG Industries, Inc.
11.3.1.1 Company Overview
11.3.1.2 Product Portfolio
11.3.1.3 Demographic Reach and Achievements
11.3.1.4 Certifications
11.3.2 The Sherwin-Williams Company
11.3.2.1 Company Overview
11.3.2.2 Product Portfolio
11.3.2.3 Demographic Reach and Achievements
11.3.2.4 Certifications
11.3.3 Benjamin Moore & Co.
11.3.3.1 Company Overview
11.3.3.2 Product Portfolio
11.3.3.3 Demographic Reach and Achievements
11.3.3.4 Certifications
11.3.4 Sur Quimica S.A.
11.3.4.1 Company Overview
11.3.4.2 Product Portfolio
11.3.4.3 Demographic Reach and Achievements
11.3.4.4 Certifications
11.3.5 Harris Paints
11.3.5.1 Company Overview
11.3.5.2 Product Portfolio
11.3.5.3 Demographic Reach and Achievements
11.3.5.4 Certifications
11.3.6 Pintuco SA
11.3.6.1 Company Overview
11.3.6.2 Product Portfolio
11.3.6.3 Demographic Reach and Achievements
11.3.6.4 Certifications
11.3.7 Others

12 Key Trends and Developments in the Market

Companies Mentioned

  • Benjamin Moore & Co.
  • Sur Quimica S.A.
  • Harris Paints
  • The Sherwin-Williams Company
  • Pintuco SA
  • PPG Industries, Inc.

Methodology

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