Global Paint & Coatings
Market Report
2025
Paint & Coatings market size is USD 192514.2 Million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.60% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Paint & Coatings market size is USD 192514.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.60% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Paint & Coatings Market Sales Revenue | 121212 | $ 192514 | 121212 | 121212 | 121212 | 3.6% |
North America Paint & Coatings Market Sales Revenue | 121212 | $ 77005.7 Million | 121212 | 121212 | 121212 | 1.8% |
Europe Paint & Coatings Market Sales Revenue | 121212 | $ 57754.3 Million | 121212 | 121212 | 121212 | 2.1% |
Asia Pacific Paint & Coatings Market Sales Revenue | 121212 | $ 44278.3 Million | 121212 | 121212 | 121212 | 5.6% |
South America Paint & Coatings Market Sales Revenue | 121212 | $ 9625.71 Million | 121212 | 121212 | 121212 | 3% |
Middle East and Africa Paint & Coatings Market Sales Revenue | 121212 | $ 3850.28 Million | 121212 | 121212 | 121212 | 3.3% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Resin Type |
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Market Split by Technology |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Report scope is customizable as we have a huge database of Paint & Coatings industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Paint & Coatings Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The market for paints and coatings includes various goods used in many industries for surface enhancement, decoration, and protection. These goods include, among other things, paints, lacquers, varnishes, and stains. The market provides services to various industries, including aerospace, automotive, commercial, and industrial. Urbanization, infrastructure expansion, increased disposable incomes, and increased construction activity globally are major factors propelling market growth. Additionally, a move toward eco-friendly formulas like low-VOC and VOC-free coatings has been brought about by growing awareness of environmental sustainability and regulatory requirements. The paint and coatings market is always changing to satisfy the demands of various sectors and customers due to continuous technical breakthroughs and innovations.
Future growth in the global construction sector is expected due to increasing urbanization, improved infrastructure, and rising disposable incomes. This increase will lead to increased demand for paints and coatings in various industries, such as industrial, commercial, and residential development. These coatings are essential for guaranteeing longevity, improving aesthetics, and shielding structures from the elements. The need for premium paints and coatings is predicted to rise as construction activity worldwide picks up, offering manufacturers and suppliers in this industry attractive potential. To meet this need, the paint and coatings sector must be innovative, sustainable, and adaptable to meet the changing needs of the construction market.
The increasing demand for homeownership, growing disposable incomes, and the trend of urbanization are all driving the furniture market's projected stable expansion. Due to this expansion, the need for paints and coatings for furniture finishing will rise. These finishes protect furniture against environmental elements, dampness, and wear and tear while improving its visual appeal. Customers' desire to customize their living areas will drive up demand for premium finishes that are both aesthetically pleasing and long-lasting. The furniture business presents prospects for market expansion and distinctiveness, and manufacturers in the paints and coatings sector are anticipated to innovate and diversify their product offerings to meet this growing demand.
Because volatile organic compounds (VOCs) contribute to air pollution and pose health hazards, there is growing concern about VOCs. Volatile organic compounds (VOCs) are released by paints and coatings and dissipate at room temperature. The market for low-VOC and VOC-free alternatives is expected to grow as environmental restrictions become more stringent. However, the cost of formulating and producing these coatings is frequently higher, limiting market expansion. Even amid economic constraints, consumer awareness and regulatory pressure drive the industry's shift towards eco-friendly and sustainable solutions. As a result, manufacturers are forced to spend money on R&D to reduce VOC emissions while maintaining the performance and affordability of their products, which encourages the shift to greener coatings technologies.
The COVID-19 pandemic has various effects on the paint and coatings industry. Lockdowns and other interruptions in the industrial and construction industries initially lowered demand. Nevertheless, the business recovered as regulations relaxed, propelled by a rise in house renovation projects and a need for coatings that prioritized hygiene. Shortages of raw materials and supply chain disruptions presented difficulties that impacted pricing and output. Customer preferences were also impacted by the shift to remote work, which increased demand for antimicrobial coatings—moreover, strict health and safety laws required modifications to manufacturing procedures. Overall, despite the short-term difficulties caused by the pandemic, the market showed resilience, with the increasing adoption of digital technology and sustainable practices emerging as significant trends during the ongoing phase of recovery.
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Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.
In February 2022, An agreement was made by the Sherwin-Williams Company, the state of North Carolina, Iredell County, and the city of Statesville to create a larger distribution facility in Statesville, North Carolina, and to greatly expand its manufacturing capacity for architectural paints and coatings. Sherwin-Williams intends to contribute to the project with a minimum of $300 million USD.
Top Companies Market Share in Paint & Coatings Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. Growing building, remodeling, and infrastructure development projects are among the reasons propelling the growth of North America's paint and coatings market. Demand for eco-friendly coatings is also driven by the region's strict VOC emission limits and emphasis on sustainability. Innovation in products and technological developments are also helping the market grow in North America.
The European region is witnessing an increase in the sales of reagents. The market for paints and coatings in Europe is expanding due to increased building, remodeling, and infrastructure projects. Market demand is driven by strict environmental rules that encourage the adoption of eco-friendly and low-VOC coatings. Furthermore, developments in coatings formulations and technology are driving the expansion of the European market.
The current report Scope analyzes Paint & Coatings Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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According to Cognitive Market Research, the global Paint & Coatings market size was estimated at USD 192514.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 77005.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.8% from 2024 to 2031. The market for paints and coatings in North America is expanding thanks to strong building activity, strict environmental laws, and technical advancements. Driven by construction projects for both residential and commercial use, the architectural segment is dominant. An increasing focus on environmentally friendly and sustainable coatings is beneficial to this market. Furthermore, developments in application technologies and formulations fuel market expansion. North America's paint & coatings market is positioned for continued growth and innovation, positioning it as a major participant in the global industry landscape. This is due to rising demand for long-lasting and visually beautiful coatings, as well as a focus on environmental sustainability.
Country Analysis
According to Cognitive Market Research, with a market value of USD 192514.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 2.1% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 57754.26 million. The market for paints and coatings in Europe is booming due to expanding construction activity, stricter environmental laws, and a growing need for environmentally friendly solutions. Driven by infrastructure initiatives, urbanization, and renovations, the architectural sector is the most dominant. There is a growing trend in this market for eco-friendly and low-VOC coatings. Furthermore, new product developments and technical breakthroughs fuel market growth. Europe's paint and coatings market is well-positioned to continue growing and adapting, securing its place as a major player in the global coatings industry. This is due to its emphasis on environmental sustainability and regulatory compliance, as well as the strength of its construction industry.
According to Cognitive Market Research, the global Paint & Coatings market size was estimated at USD 192514.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 44278.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031. The paint and coatings industry in Asia Pacific is expanding quickly as a result of rising urbanization, industrialization, and construction activity. The area offers a wide variety of uses for coatings, such as industrial, automotive, and architectural. Due to the region's thriving automotive industry and rising need for protective and ornamental coatings, the automotive segment stands out in particular. The paint and coatings market in Asia Pacific offers tremendous potential for growth and innovation due to the region's expanding population, growing economies, improved infrastructure, and technological breakthroughs. This solidifies the region's position as a major player in the global coatings industry.
According to Cognitive Market Research, the global Paint & Coatings market size was estimated at USD 192514.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 9625.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.0% from 2024 to 2031. The market for paint and coatings in Latin America is expanding steadily due to factors such increased disposable income, infrastructural development, and urbanization. Due to an increase in both residential and commercial development projects, the architectural segment is dominant. Furthermore, the automotive coatings industry is growing due to rising car demand and production. Latin America's paint & coatings business is strong despite economic difficulties and ups and downs because of the increasing demand for premium coatings that are both long-lasting and aesthetically pleasing. The region offers encouraging prospects for market expansion and innovation in the upcoming years, given the continuous expenditures in infrastructure and the increasing emphasis placed on sustainability.
According to Cognitive Market Research, the global Paint & Coatings market size was estimated at USD 192514.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 3850.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031. The paint and coatings industry in the Middle East and Africa is expanding significantly as a result of increasing industrialization, infrastructural development, and urbanization. Driven by building projects and renovations in the commercial and residential sectors, the architectural coatings market leads. Furthermore, the industrial coatings market is growing thanks to investments in the manufacturing and oil and gas industries. The demand for high-performance coatings is driving the endurance of the paint and coatings market in the area, despite geopolitical unrest and economic concerns. In the coatings industry, the Middle East and Africa offer substantial prospects for market expansion and investment due to their continued infrastructural development and focus on industrial growth.
Global Paint & Coatings Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Paint & Coatings Industry growth. Paint & Coatings market has been segmented with the help of its Resin Type, Technology Application , and others. Paint & Coatings market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Acrylic held the major market share over the forecast period. The acrylic paints and coatings market is expanding significantly because of their eco-friendly qualities, longevity, and versatility. They are extensively employed in many applications, including industrial, automotive, and architectural coatings. The market for acrylic-based products is growing due to consumer desire for water- and low-VOC coatings. Acrylic formulas have improved technologically, improving their performance and range of applications.
Polyester is the fastest-growing category over the forecast period. Polyester paints and coatings are becoming increasingly popular in the market because of their exceptional durability, resistance to corrosion, and affordability. They are widely used in coatings for automobiles, businesses, and buildings. The growing need for high-performance coatings in various end-user sectors drives the expansion of goods based on polyester. Furthermore, developments in polyester resin technology improve their qualities even more, which promotes their growth in the coatings industry.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Paint & Coatings Industry. Request a Free Sample PDF!
According to Cognitive Market Research, Waterborne Coating holds a prominent market share. Waterborne coatings are expanding quickly in the paint and coatings industry because of their low volatile organic compound (VOC) emissions, environmental friendliness, and adherence to strict environmental standards. They are highly durable and work well in various applications, such as industrial, automotive, and architectural coatings. Waterborne coatings are becoming increasingly popular due to the growing need for environmentally friendly coating solutions, propelling their market expansion.
Solvent Borne Technologies is the fastest-growing category over the forecast period. In the paint and coatings industry, solvent-borne coating technologies are still very important, especially for applications that call for longevity and high performance. Despite the rising popularity of waterborne and other environmentally friendly alternatives, solvent-borne coatings continue to expand in the market because of their superior qualities in specific applications, such as industrial, marine, and automotive coatings.
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According to cognitive market research, architecture held the major market share over the forecast period. The paint & coatings market is expanding due largely to the architectural segment, which is driven by rising global urbanization, restorations, and building activity. The need for long-lasting and aesthetically beautiful coatings for residential and commercial structures is only growing. Architectural paints and coatings are expanding in the market due to technological and formulation developments and an emphasis on sustainability.
Industrial is the fastest-growing category over the forecast period. The market for paint and coatings has grown significantly due largely to the industrial sector, which is driven by an expansion in manufacturing, the construction of infrastructure, and the demand for protective coatings. Industrial coatings protect machinery, equipment, and buildings against environmental deterioration, corrosion, and wear. Additionally, the focus on improving operational efficiency and developments in coating technologies are driving the expansion of the industrial coatings industry.
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Manoj Phagare is a dynamic and results-driven research analyst with a passion for transforming raw data into actionable insights. Armed with a solid foundation in market research and data analysis and working in various domains including chemical & materials and paints & coatings. He thrive on the challenge of uncovering patterns, trends, and opportunities that drive strategic decision-making.His analytical mindset, coupled with effective communication skills, allows him to bridge the gap between data analysis and practical business applications.
In his current role, Manoj is a key player in market research and competitive analysis. He have a proven track record of synthesizing disparate data sources, employing statistical models, and delivering comprehensive insights. He have played a pivotal role in shaping evidence-based strategies that fueled the success of key business initiatives and Collaborating with cross-functional teams.Manoj remains an invaluable asset in the dynamic landscape of market research.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Resin Type | Acrylic, Alkyd, Polyester, Polyurethane, Fluoropolymer, Vinyl, Others |
Technology | Waterborne Coating, Solvent Borne Technologies, Powder Coating, UV Coating, Others |
Application | Architectural, Industrial, Others |
List of Competitors | PPG, AkzoNobel, Henkel, Sherwin-Williams, Valspar, RPM International, Axalta, BASF, Kansai Paint, Sika, 3M, Asian Paints, Nippon Paint, HB Fuller, Masco, Jotun, Hempel, KCC Corporation, DAW SE, Shawcor, Cromology, SK KAKEN, Carpoly, Taiho Paint, Berger Paints. |
This chapter will help you gain GLOBAL Market Analysis of Paint & Coatings. Further deep in this chapter, you will be able to review Global Paint & Coatings Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Paint & Coatings. Further deep in this chapter, you will be able to review North America Paint & Coatings Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Paint & Coatings. Further deep in this chapter, you will be able to review Europe Paint & Coatings Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Paint & Coatings. Further deep in this chapter, you will be able to review Asia Pacific Paint & Coatings Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Paint & Coatings. Further deep in this chapter, you will be able to review South America Paint & Coatings Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Paint & Coatings. Further deep in this chapter, you will be able to review Middle East and Africa Paint & Coatings Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Paint & Coatings. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Resin Type Analysis 2019 -2031, will provide market size split by Resin Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Resin Type Analysis 2021 - 2033
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Chapter 11 Market Split by Technology Analysis 2021 - 2033
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Chapter 12 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Paint & Coatings market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Acrylic have a significant impact on Paint & Coatings market? |
What are the key factors affecting the Acrylic and Alkyd of Paint & Coatings Market? |
What is the CAGR/Growth Rate of Waterborne Coating during the forecast period? |
By type, which segment accounted for largest share of the global Paint & Coatings Market? |
Which region is expected to dominate the global Paint & Coatings Market within the forecast period? |
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