Paints and Coatings Market Report 2026

The paints and coatings market size has grown strongly in recent years. It will grow from $248.06 billion in 2025 to $261.56 billion in 2026 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to growth of construction and infrastructure projects, expansion of automotive manufacturing, long term demand from architectural coatings, rising industrialization in emerging economies, established use in wood and packaging applications.

The paints and coatings market size is expected to see strong growth in the next few years. It will grow to $336.03 billion in 2030 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing demand for eco friendly coatings, growth of electric vehicle production, rising infrastructure renovation activities, expansion of aerospace and marine coatings, growing demand for high performance protective coatings. Major trends in the forecast period include growing demand for water borne coatings, rising adoption of high performance coatings, increasing use of specialty and industrial coatings, expansion of powder coatings applications, growing focus on durable and long life coatings.

The rising consumption by end-user industries is expected to propel the growth of the paint and coatings market going forward. There is a rapid growth in the consumption of paints and coatings in many industries. Paints and coatings are widely used in the automotive, construction, and manufacturing industries, whereas paint and coatings protect surfaces, enhance aesthetics, and provide corrosion resistance in the construction industry. For instance, in June 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, US-based government administrations, in May 2023, privately owned home starts were occurring at a seasonally adjusted annual pace of 1,631,000, representing an increase of 21.7% in the revised April 2023 prediction of 1,340,000 and 5.7% in the May 2022 rate of 1,543,000. The number of privately owned home completions in May 2023 was 1,518,000 on a seasonally adjusted yearly basis, representing an increase of 5% over the May 2022 rate of 1,446,000 and 9.5% above the revised April 2023 estimate of 1,386,000. Therefore, growth in end-user industries is expected to drive the paint and coatings market.

The rising expansion of the automotive industry is expected to support the growth of the paint and coatings market going forward. The automotive industry includes a broad range of companies and activities involved in designing, manufacturing, selling, and maintaining motor vehicles. It relies on paint and coatings to shield vehicle surfaces from corrosion, deliver aesthetic finishes, and improve durability, thereby enhancing both the appearance and lifespan of vehicles while meeting design and safety standards. For instance, in January 2024, the European Automobile Manufacturers Association, a Belgium-based automobile industry association, reported that in 2023, the EU car market increased by 13.9% compared to 2022, reaching total annual sales of 10.5 million vehicles. Therefore, the rising expansion of the automotive industry is fueling the growth of the paint and coatings market.

Major companies operating in the paints and coatings market are focusing on developing innovative products, such as innovative biosurfactants, to enhance environmental sustainability and improve product performance. Innovative biosurfactants are eco-friendly surface-active agents derived from natural sources like plants and microorganisms. They improve the performance of products by enhancing emulsification and stability while being biodegradable and non-toxic. For instance, in September 2024, Evonik Industries AG, a Germany-based chemical company, launched two innovative biosurfactants, TEGO Wet 570 Terra and TEGO Wet 580 Terra, to coatings and ink formulations. These products that enhance substrate wetting and improve pigment dispersion in industrial coatings, ensuring optimal colour properties and good corrosion resistance. In printing inks, they accelerate the wetting of pigments and fillers while contributing to sustainability by reducing VOC levels and enhancing the biodegradability of the final product.

Major companies operating in the paints and coatings market are BASF SE, Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., RPM International Inc., Asian Paints Limited, Kansai Paint Co., Ltd., Jotun Group, Hempel A/S, Axalta Coating Systems Ltd., KCC Corporation, DAW SE, Tikkurila Oyj, Chugoku Marine Paints Ltd., National Paints Factories Co. Ltd., Shalimar Paints Limited, Berger Paints India Limited, Rust-Oleum Corporation, Dunn-Edwards Corporation, Nihon Tokushu Toryo Co., Ltd., Kelly-Moore Paints, Behr Process Corporation.

Asia-Pacific was the largest region in the paints and coatings market in 2025. Western Europe was the second-largest region in the paints and coatings market. The regions covered in the paints and coatings market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the paints and coatings market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The paints and coatings market consists of the sales of polyurethane coatings, epoxy coatings, alkyd coatings, zinc-rich coatings, and acrylic coatings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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