Paint & Coatings Market Report 2025 (Global Edition)

Global Paint & Coatings Market Report 2025 Market Size Split by Resin Type (Acrylic, Alkyd, Polyester, Polyurethane, Fluoropolymer, Vinyl, Others), by Technology (Waterborne Coating, Solvent Borne Tec...

Paint & Coatings Market Report Description

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Competitive Landscape of the Paint & Coatings Market

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.

Paint & Coatings Industry News 

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. 

(Source: https://www.prnewswire.com/news-releases/sherwin-williams-signs-agreement-to-expand-manufacturing-and-distribution-capabilities-in-statesville-north-carolina-301477863.html)

Top Companies Market Share in Paint & Coatings Industry: (In no particular order of Rank)

• 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.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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.

Regional Analysis of Paint & Coatings Market

Which Region Dominates the Paint & Coatings Market in 2024?

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.

Which Region is Expanding at the Fastest CAGR?

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

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Paint & Coatings Market Analysis

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, the US had a major share in the Paint & Coatings market with a market size of USD 60757.48 million in 2024 and is projected to grow at a CAGR of 1.6% during the forecast period. The demand is amplified by the growing demand for sustainable and eco-friendly coatings, driven by environmental regulations and consumer preferences.
• The Canada Paint & Coatings market had a market share of USD 9240.68 million in 2024 and is projected to grow at a CAGR of 2.6% during the forecast period. Canada's rising innovation in coatings technology to meet specific performance requirements, such as durability and weather resistance.
• The Mexico Paint & Coatings market is projected to witness growth at a CAGR of 2.3% during the forecast period with a market size of USD 7007.52 million in 2024.

Europe Paint & Coatings Market 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.

• The United Kingdom Paint & Coatings market had a market share of USD 9702.72 million in 2024 and is projected to grow at a CAGR of 2.9% during the forecast period. In the UK, Paint & Coatings sales witness an upswing due to the nation's rapid urbanization and infrastructure development projects, including construction of buildings, roads, and bridges.
• The France Paint & Coatings market is projected to witness growth at a CAGR of 1.3% during the forecast period with a market size of USD 5313.39 million in 2024.
• According to Cognitive Market Research, the Germany Paint & Coatings market size was valued at USD 11435.34 million in 2024 and is projected to grow at a CAGR of 2.3% during the forecast period. In Germany, Paint & Coatings sales surge due to the increasing investments in automotive manufacturing, driving demand for automotive coatings.
• The Italy Paint & Coatings market is projected to witness growth at a CAGR of 1.5% during the forecast period with a market size of USD 4966.87 million in 2024.
• The Russia Paint & Coatings market is projected to witness growth at a CAGR of 1.1% during the forecast period with a market size of USD 8951.91 million in 2024.
• The Spain Paint & Coatings market is projected to witness growth at a CAGR of 1.2% during the forecast period with a market size of USD 4735.85 million in 2024.
• The Luxembourg Paint & Coatings market is projected to witness growth at a CAGR of 2.2% during the forecast period with a market size of USD 1790.38 million in 2024.
• The Portugal Paint & Coatings market is projected to witness growth at a CAGR of 1.9% during the forecast period with a market size of USD 1212.84 million in 2024.
• The Greece Paint & Coatings market is projected to witness growth at a CAGR of 2.4% during the forecast period with a market size of USD 693.05 million in 2024.
• Rest of Europe Paint & Coatings market is projected to witness growth at a CAGR of 0.8% during the forecast period with a market size of USD 8951.91 million in 2024.

Asia Pacific Paint & Coatings Market Analysis

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 China Paint & Coatings market size was valued at USD 19925.22 million in 2024 and is projected to grow at a CAGR of 5.1% during the forecast period. Paint & Coatings sales surge in China due to the nation's rising awareness of environmental protection leading to a shift towards low-voc and water-based coatings.
• The Japan Paint & Coatings market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 6110.40 million in 2024.
• The India Paint & Coatings market had a market share of USD 5313.39 million in 2024 and is projected to grow at a CAGR of 7.4% during the forecast period. The demand is augmented by India's strong emphasis on sustainability and environmental regulations driving demand for eco-friendly coatings.
• The South Korea Paint & Coatings market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 4427.83 million in 2024.
• The Australia Paint & Coatings market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 2302.47 million in 2024.
• The South East Asia Paint & Coatings market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 3055.20 million in 2024.
• The Rest of Asia Pacific Paint & Coatings market is projected to witness growth at a CAGR of 5.4% during the forecast period with a market size of USD 3143.76 million in 2024.

South America Paint & Coatings Market Analysis

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 Brazil Paint & Coatings market size was valued at USD 4119.80 million in 2024 and is projected to grow at a CAGR of 3.6% during the forecast period. Paint & Coatings sales flourish in Brazil due to the nation's technological advancements and innovation in coatings formulations, particularly in automotive and industrial sectors.
• The Argentina Paint & Coatings market had a market share of USD 1617.12 million in 2024 and is projected to grow at a CAGR of 3.9% during the forecast period. The demand is augmented by Argentina's commitment to robust manufacturing industry, including automotive and machinery sectors, contributing to the demand for high-performance coatings.
• The Colombia Paint & Coatings market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 856.69 million in 2024.
• The Peru Paint & Coatings market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 789.31 million in 2024.
• The Chile Paint & Coatings market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 693.05 million in 2024.
• The Rest of Latin America Paint & Coatings market is projected to witness growth at a CAGR of 2.1% during the forecast period with a market size of USD 1549.74 million in 2024.

Middle East Paint & Coatings Market Analysis

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.

• According to Cognitive Market Research, the GCC Countries Paint & Coatings market size was valued at USD 1647.92 million in 2024 and is projected to grow at a CAGR of 4.1% during the forecast period. Paint & Coatings sales flourish in the GCC Countries due to the region's growing construction activities, driven by infrastructure projects and residential housing demand.
• The Egypt Paint & Coatings market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 404.28 million in 2024.
• The South Africa Paint & Coatings market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 608.34 million in 2024. Paint & Coatings sales flourish in the South Africa due to the focus on reducing carbon emissions and promoting sustainable building practices, leading to increased demand for eco-friendly coatings.
• The Turkey Paint & Coatings market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 331.12 million in 2024.
• The Nigeria Paint & Coatings market is projected to witness growth at a CAGR of 2.4% during the forecast period with a market size of USD 404.28 million in 2024.
• The Rest of MEA Paint & Coatings market is projected to witness growth at a CAGR of 2.3% during the forecast period with a market size of USD 454.33 million in 2024.

Paint & Coatings Market Analysis

Paint & Coatings Resin Type Segment Analysis

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.

• Acrylic
• Alkyd
• Polyester
• Polyurethane
• Fluoropolymer
• Vinyl
• Others

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!

Paint & Coatings Technology Segment Analysis

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.

• Waterborne Coating
• Solvent Borne Technologies
• Powder Coating
• UV Coating
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Paint & Coatings Application Segment Analysis

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.

• Architectural
• Industrial
• Others

Author's Detail

Ashwini Moharir

Research Analyst at Cognitive Market Research

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Profile

Enthusiastic and analytical market research professional with 2 years of hands-on experience in tracking market trends, evaluating consumer behavior, and supporting strategic decision-making. Proficient in designing surveys, conducting interviews, and synthesizing insights from both primary and secondary sources. Successfully contributed to research projects across sectors such as retail, personal care, and industrial markets. Brings a keen eye for detail, strong data interpretation skills, and a passion for uncovering what drives markets forward. Comfortable working in fast-paced environments and collaborating across departments to deliver clear, actionable findings.

Author's Conclusion