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At a compound annual growth rate (CAGR) of 4.3% between 2022 and 2030, the paints and coatings industry is expected to expand from $US190.6 billion in 2022 to $US223.6 billion in 2030. There are two major applications for paints and coatings: decorative (architectural) and industrial. Decorative paint accounts for over 40% of the market and includes additives like primers and putties. Exterior wall paints, interior wall paints, wood finishes, and enamels are all subsets of this larger category. Industrial paints, which account for the remaining 60% of the market, are used in a broad variety of fields, including the automotive, marine, packaging, powder, protection, and other general industrial coatings sectors. Manufacturers have been forced to adopt low-solvent and solventless technology due to the coatings industry's stringent regulation. There are a lot of coatings producers, but only around ten or so are truly worldwide conglomerates. However, most of the world's largest multinational corporations have bolstered their presence in fast-growing economies like India and mainland China. The most noticeable trend, especially among the largest manufacturers, has been consolidation.
The automotive, construction, woodworking, and transportation sectors all rely heavily on paints and coatings. They find widespread use in the building industry, where they defend structures from the elements. The product has many additional uses as well, including the adornment of commercial and residential structures and infrastructure, transportation (both land and sea), industry (wood and metal), and agriculture. A simple survey of the market reveals the widespread adoption of these products thanks to their desirable characteristics, such as resistance to the elements, reflection absorption, corrosion resistance, hardness, and frictional resistance.
The use of high-tech coatings using cationic galvanic coating ingredients that completely fill all the nooks and crannies of various metal parts is on the rise. Aircraft turbine engines and automobiles both benefit from the durability provided by high performance ceramics. Its primary function is to shield parts from damage caused by heat, corrosion, and general wear and tear.
Paints and coatings are used for flooring, wall finishing, and roofing applications, and their popularity has increased as the architecture and construction industry has expanded in both developed and developing economies like the United States, China, India, and others. For instance, in 2021, infrastructure operations attracted 13% of all FDI inflows, as stated in a study by the National Investment Promotion and Facilitation Agency. The expanding architecture and construction industry is forecast to benefit from this trend, driving up demand for paints and coatings. Paints and coatings are used for corrosion protection in under-the-hood parts, engine components, container interiors, and storage vessels, and the automotive industry has seen significant growth as a result of factors like rising disposable income, improved technology, and an increase in original equipment manufacturers (OEMs). For instance, the India Brands Equity Foundation found that between 2016 and 2020, domestic automobile production grew at a CAGR (compound annual growth rate) of 2.36%, with 26.36 million automobiles being produced in India.
The North American and European housing and building industries are forecast to grow modestly over the next five years. Despite a major downturn over the past two to three years, the Chinese construction industry is expected to grow at a faster rate than in Europe or North America. As more people from rural areas migrate to cities in search of greater economic opportunities, construction levels have surged in countries like India, Southeast Asia, and South America. Putting more money into infrastructure will spur more building. Governments all across the world are continuing to fund massive infrastructure projects in an effort to boost their economies' productive potential and aid in the post-Covid economic recovery. Civil engineering is expected to be the fastest-growing sector of the construction market. In 2023, it is predicted that Australia's construction production will fall by about 3%. The housing market feels the effects of high inflation and rising interest rates through falling property values and increasing building costs. As residential and industrial construction slow, Belgium anticipates a further 1.3% drop in construction production in 2023, following a 0.8% drop in 2022. Inflation and the cost of financing construction activities are both on the rise.
The raw materials in thin-film powder coatings are uniformly dispersed throughout the powder and have good flow qualities, fine perforations, and minimal edge build-ups. Paints and protective and optical coatings can benefit from them. However, typical powder coatings make it difficult to manufacture thin finishes because thickening the polymer might result in the production of an uneven texture. Powder coats give metal an extremely robust sheen. Thin films require levelling and uniform flow. Powder coatings' colour and opacity of pigmentation are directly related for optimal thin-film application. In order to generate thin films, polyurethane resins are preferred due to their superior flow, superior physical qualities, and reduced prices. In thin-film powder coating applications, substrate smoothness and wetting are crucial concerns. Obtaining thin coatings that are comparable to those generated by wet paint systems is challenging.
Report Coverage
Global Paints and Coatings research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Paints and Coatings report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Paints and Coatings competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Paints and Coatings market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Paints and Coatings market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Paints and Coatings market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AkzoNobel N.V. (Netherlands), PPG Industries Inc., (U.S.), The Sherwin-Williams Company (U.S.), RPM International Inc., (U.S.), NIPSEA GROUP (Japan), Arkema (France), Cardolite Corporation (U.S.), BASF SE(Germany), Evonik Industries AG (Germany), Reichhold LLC 2, (U.S.), DSM (Netherlands), Qualipoly Chemical Corp. (Taiwan), Arakawa Chemical Industries,Ltd. (Japan), , Alberdingk Boley (U.S.), Eternal Materials Co.,Ltd. (Taiwan), , Wacker Chemie AG (Japan) and , DIC CORPORATION (Japan)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Paints and Coatings market based on the below-mentioned segments:
Global Paints and Coatings Market, By Resin Type
Acrylic
Epoxy Resin
Alkyd
Polyurethane
Polyester
Others
Global Paints and Coatings market, By Application
Architectural Application
Industrial Application
Global Paints and Coatings Market, By Technology
Water-Based Technology
Solvent-Based Technology
High Solids
Powder Coating
Others
Global Paints and Coatings market, Regional Analysis
The automotive, construction, woodworking, and transportation sectors all rely heavily on paints and coatings. They find widespread use in the building industry, where they defend structures from the elements. The product has many additional uses as well, including the adornment of commercial and residential structures and infrastructure, transportation (both land and sea), industry (wood and metal), and agriculture. A simple survey of the market reveals the widespread adoption of these products thanks to their desirable characteristics, such as resistance to the elements, reflection absorption, corrosion resistance, hardness, and frictional resistance.
The use of high-tech coatings using cationic galvanic coating ingredients that completely fill all the nooks and crannies of various metal parts is on the rise. Aircraft turbine engines and automobiles both benefit from the durability provided by high performance ceramics. Its primary function is to shield parts from damage caused by heat, corrosion, and general wear and tear.
Paints and coatings are used for flooring, wall finishing, and roofing applications, and their popularity has increased as the architecture and construction industry has expanded in both developed and developing economies like the United States, China, India, and others. For instance, in 2021, infrastructure operations attracted 13% of all FDI inflows, as stated in a study by the National Investment Promotion and Facilitation Agency. The expanding architecture and construction industry is forecast to benefit from this trend, driving up demand for paints and coatings. Paints and coatings are used for corrosion protection in under-the-hood parts, engine components, container interiors, and storage vessels, and the automotive industry has seen significant growth as a result of factors like rising disposable income, improved technology, and an increase in original equipment manufacturers (OEMs). For instance, the India Brands Equity Foundation found that between 2016 and 2020, domestic automobile production grew at a CAGR (compound annual growth rate) of 2.36%, with 26.36 million automobiles being produced in India.
The North American and European housing and building industries are forecast to grow modestly over the next five years. Despite a major downturn over the past two to three years, the Chinese construction industry is expected to grow at a faster rate than in Europe or North America. As more people from rural areas migrate to cities in search of greater economic opportunities, construction levels have surged in countries like India, Southeast Asia, and South America. Putting more money into infrastructure will spur more building. Governments all across the world are continuing to fund massive infrastructure projects in an effort to boost their economies' productive potential and aid in the post-Covid economic recovery. Civil engineering is expected to be the fastest-growing sector of the construction market. In 2023, it is predicted that Australia's construction production will fall by about 3%. The housing market feels the effects of high inflation and rising interest rates through falling property values and increasing building costs. As residential and industrial construction slow, Belgium anticipates a further 1.3% drop in construction production in 2023, following a 0.8% drop in 2022. Inflation and the cost of financing construction activities are both on the rise.
The raw materials in thin-film powder coatings are uniformly dispersed throughout the powder and have good flow qualities, fine perforations, and minimal edge build-ups. Paints and protective and optical coatings can benefit from them. However, typical powder coatings make it difficult to manufacture thin finishes because thickening the polymer might result in the production of an uneven texture. Powder coats give metal an extremely robust sheen. Thin films require levelling and uniform flow. Powder coatings' colour and opacity of pigmentation are directly related for optimal thin-film application. In order to generate thin films, polyurethane resins are preferred due to their superior flow, superior physical qualities, and reduced prices. In thin-film powder coating applications, substrate smoothness and wetting are crucial concerns. Obtaining thin coatings that are comparable to those generated by wet paint systems is challenging.
Report Coverage
Global Paints and Coatings research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Paints and Coatings report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Paints and Coatings competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Paints and Coatings market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | AkzoNobel N.V. (Netherlands), PPG Industries Inc., (U.S.), The Sherwin-Williams Company (U.S.), RPM International Inc., (U.S.), NIPSEA GROUP (Japan), Arkema (France), Cardolite Corporation (U.S.), BASF SE(Germany), Evonik Industries AG (Germany), Reichhold LLC 2, (U.S.), DSM (Netherlands), Qualipoly Chemical Corp. (Taiwan), Arakawa Chemical Industries,Ltd. (Japan), , Alberdingk Boley (U.S.), Eternal Materials Co.,Ltd. (Taiwan), , Wacker Chemie AG (Japan) and , DIC CORPORATION (Japan) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Paints and Coatings Market from 2021 to 2030.
- Market Forecast for Paints and Coatings Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Paints and Coatings competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Paints and Coatings
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Paints and Coatings market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Paints and Coatings market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AkzoNobel N.V. (Netherlands), PPG Industries Inc., (U.S.), The Sherwin-Williams Company (U.S.), RPM International Inc., (U.S.), NIPSEA GROUP (Japan), Arkema (France), Cardolite Corporation (U.S.), BASF SE(Germany), Evonik Industries AG (Germany), Reichhold LLC 2, (U.S.), DSM (Netherlands), Qualipoly Chemical Corp. (Taiwan), Arakawa Chemical Industries,Ltd. (Japan), , Alberdingk Boley (U.S.), Eternal Materials Co.,Ltd. (Taiwan), , Wacker Chemie AG (Japan) and , DIC CORPORATION (Japan)
Primary Target Market
- Market Players of Paints and Coatings
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Paints and Coatings market based on the below-mentioned segments:
Global Paints and Coatings Market, By Resin Type
Acrylic
Epoxy Resin
Alkyd
Polyurethane
Polyester
Others
Global Paints and Coatings market, By Application
Architectural Application
Industrial Application
Global Paints and Coatings Market, By Technology
Water-Based Technology
Solvent-Based Technology
High Solids
Powder Coating
Others
Global Paints and Coatings market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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