Global Paints And Coatings Market Size Study, by Resin Type, by Technology, by End Use, and Regional Forecasts 2022-2032

Description

The Global Paints and Coatings Market, valued at approximately USD 188.47 billion in 2023, is projected to grow at a steady CAGR of 3.20% during the forecast period from 2024 to 2032. The paints and coatings industry, a cornerstone of infrastructure and industrial development, continues to thrive with its indispensable applications across construction, automotive, and industrial sectors. These products not only enhance aesthetics but also provide essential functionalities like protection, insulation, and corrosion resistance.

The market's growth is fueled by the increasing demand for eco-friendly coatings, driven by stringent environmental regulations and the rising preference for sustainable solutions. Waterborne coatings, for instance, have gained substantial traction owing to their low VOC (Volatile Organic Compounds) content and reduced environmental impact. Moreover, rapid urbanization and infrastructural developments in emerging economies are creating significant growth opportunities for architectural and decorative coatings. However, the market faces challenges such as volatile raw material prices and the high costs associated with the adoption of advanced technologies.

Technological advancements in coating technologies, including nanotechnology and smart coatings, are revolutionizing the market landscape. These innovations offer improved durability, energy efficiency, and enhanced functional properties. The automotive and industrial sectors, in particular, are leveraging these advancements to meet evolving consumer demands and regulatory standards. Additionally, the integration of digital tools for color visualization and customization is reshaping consumer engagement and purchase experiences in the paints and coatings sector.

Geographically, Asia-Pacific emerges as the largest and fastest-growing market, driven by robust construction activities, booming automotive industries, and rising disposable incomes in countries like China and India. North America and Europe, on the other hand, maintain steady growth owing to stringent regulatory frameworks promoting sustainable coatings and high demand for advanced industrial coatings. Latin America and the Middle East & Africa, with their expanding infrastructure projects and industrial base, present promising opportunities for market expansion.

Major market players included in this report are:

Akzo Nobel N.V.
PPG Industries, Inc.
Sherwin-Williams Company
RPM International Inc.
BASF SE
Axalta Coating Systems
Nippon Paint Holdings Co., Ltd.
Kansai Paint Co., Ltd.
Jotun Group
Benjamin Moore & Co.
Tikkurila Oyj
Asian Paints Limited
Berger Paints India Limited
Hempel A/S
Kelly-Moore Paints

The detailed segments and sub-segment of the market are explained below:

By Resin Type:

Acrylic
Alkyd
Epoxy
Polyurethane
Fluoropolymer
Vinyl
Polyester

By Technology:

Waterborne Coatings
Solvent-borne Coatings
Powder Coatings

By End Use:

Architectural
Industrial
Marine
Coil
Automotive OEM
Others

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Comprehensive market estimates and forecasts spanning 10 years from 2022 to 2032.
Detailed regional insights with country-level analysis for major economies.
Competitive landscape featuring leading market players and their strategic initiatives.
Analysis of market dynamics, including drivers, challenges, and opportunities.
Strategic recommendations for stakeholders to capitalize on emerging trends and address challenges effectively.

Chapter 1. Global Paints And Coatings Market Executive Summary

1.1. Global Paints And Coatings Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Resin Type
- 1.3.2. By Technology
- 1.3.3. By End Use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Paints And Coatings Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Paints And Coatings Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand for Eco-friendly Coatings
- 3.1.2. Rising Preference for Sustainable Solutions
- 3.1.3. Rapid Urbanization and Infrastructural Developments in Emerging Economies
3.2. Market Challenges
- 3.2.1. Volatile Raw Material Prices
- 3.2.2. High Costs Associated with Advanced Technologies
3.3. Market Opportunities
- 3.3.1. Adoption of Nanotechnology and Smart Coatings
- 3.3.2. Integration of Digital Tools for Color Visualization and Customization
- 3.3.3. Expansion in Automotive and Industrial Sectors

Chapter 4. Global Paints And Coatings Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Paints And Coatings Market Size & Forecasts by Resin Type 2022-2032

5.1. Segment Dashboard
5.2. Global Paints And Coatings Market: Resin Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Acrylic
- 5.2.2. Alkyd
- 5.2.3. Epoxy
- 5.2.4. Polyurethane
- 5.2.5. Fluoropolymer
- 5.2.6. Vinyl
- 5.2.7. Polyester

Chapter 6. Global Paints And Coatings Market Size & Forecasts by Technology 2022-2032

6.1. Segment Dashboard
6.2. Global Paints And Coatings Market: Technology Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Waterborne Coatings
- 6.2.2. Solvent-borne Coatings
- 6.2.3. Powder Coatings

Chapter 7. Global Paints And Coatings Market Size & Forecasts by End Use 2022-2032

7.1. Segment Dashboard
7.2. Global Paints And Coatings Market: End Use Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Architectural
- 7.2.2. Industrial
- 7.2.3. Marine
- 7.2.4. Coil
- 7.2.5. Automotive OEM
- 7.2.6. Others

Chapter 8. Global Paints And Coatings Market Size & Forecasts by Region 2022-2032

8.1. North America Paints And Coatings Market
- 8.1.1. U.S. Paints And Coatings Market
  - 8.1.1.1. Resin Type Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.2. Technology Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.3. End Use Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.4. Market Share by Key Players, 2022-2032
- 8.1.2. Canada Paints And Coatings Market
  - 8.1.2.1. Resin Type Breakdown Size & Forecasts, 2022-2032
  - 8.1.2.2. Technology Breakdown Size & Forecasts, 2022-2032
  - 8.1.2.3. End Use Breakdown Size & Forecasts, 2022-2032
  - 8.1.2.4. Market Share by Key Players, 2022-2032
8.2. Europe Paints And Coatings Market
- 8.2.1. UK Paints And Coatings Market
- 8.2.2. Germany Paints And Coatings Market
- 8.2.3. France Paints And Coatings Market
- 8.2.4. Spain Paints And Coatings Market
- 8.2.5. Italy Paints And Coatings Market
- 8.2.6. Rest of Europe Paints And Coatings Market
8.3. Asia-Pacific Paints And Coatings Market
- 8.3.1. China Paints And Coatings Market
- 8.3.2. India Paints And Coatings Market
- 8.3.3. Japan Paints And Coatings Market
- 8.3.4. Australia Paints And Coatings Market
- 8.3.5. South Korea Paints And Coatings Market
- 8.3.6. Rest of Asia-Pacific Paints And Coatings Market
8.4. Latin America Paints And Coatings Market
- 8.4.1. Brazil Paints And Coatings Market
- 8.4.2. Mexico Paints And Coatings Market
- 8.4.3. Rest of Latin America Paints And Coatings Market
8.5. Middle East & Africa Paints And Coatings Market
- 8.5.1. Saudi Arabia Paints And Coatings Market
- 8.5.2. South Africa Paints And Coatings Market
- 8.5.3. Rest of Middle East & Africa Paints And Coatings Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Akzo Nobel N.V.
- 9.1.2. PPG Industries, Inc.
- 9.1.3. Sherwin-Williams Company
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Akzo Nobel N.V.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. PPG Industries, Inc.
- 9.3.3. Sherwin-Williams Company
- 9.3.4. RPM International Inc.
- 9.3.5. BASF SE
- 9.3.6. Axalta Coating Systems
- 9.3.7. Nippon Paint Holdings Co., Ltd.
- 9.3.8. Kansai Paint Co., Ltd.
- 9.3.9. Jotun Group
- 9.3.10. Benjamin Moore & Co.

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes