Paints & Coatings Market
Paints & Coatings Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Fluoropolymer), Technology (Waterborne Coatings, Solventborne Coatings, Powder Coatings), End-use Industry (Architectural, Industrial), Region - Global Forecast to 2030
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The paints & coatings market is projected to grow from USD 205.22 billion in 2025 to USD 249.78 million by 2030, at a CAGR of 4.01%. The expansion of the automotive & transportation sector is a major factor driving the growth of the paints & coatings market. Vehicles require paints and coatings for corrosion protection, durability, and aesthetic appearance. The growth of passenger cars, commercial vehicles, railways, and marine transport increases the demand for coatings. Coatings also help achieve smooth finishes and lightweight materials, further enhancing efficiency. Besides new production, vehicle repair and refinishing are the sources of a steady demand. With growing logistics activity, public transport projects, and higher vehicle ownership in developing regions, the market's momentum continues to grow. The protective coatings applied to rail cars, ships, and containers, among other things, guarantee long service life under harsh conditions, thus ensuring steady market growth in the long run.
KEY TAKEAWAYS
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BY REGIONAsia Pacific dominated the global paints & coatings market in 2024, accounting for a market share of 50.6%, in terms of value.
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BY RESIN TYPEThe epoxy resins segment is projected to be the fastest-growing resin type of in the overall paints & coatings market, registering a CAGR of 5.27%, in terms of value, between 2025 and 2030.
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BY TECHNOLOGYThe waterborne coatings segment accounted for the largest share in the overall paints & coatings market in 2024, in terms of value.
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BY END-USE INDUSTRYThe industrial segment is projected to register the highest CAGR of 4.44%, in terms of value, during the forecast period.
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COMPETITIVE LANDSCAPE - KEY PLAYERSThe Sherwin-Williams Company, PPG Industries, Inc., and Akzo Nobel N.V. are identified as key players in the global paints & coatings market. These companies have strong market presence and extensive product portfolios.
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COMPETITIVE LANDSCAPE - STARTUPSHempel A/S, Berger Paints India Limited, and Shalimar Paints, among other emerging players, have strong positions within specialized niche segments, highlighting their potential to evolve into future market leaders in the paints & coatings market.
The paints & coatings market is projected to witness steady expansion over the forecast period, driven by rising construction activity, industrial manufacturing growth, and continuous innovation in material performance. Paints and coatings are formulated to provide surface protection, durability, and aesthetics across a wide range of substrates. The market growth is fueled by the rising demand from architectural, automotive, industrial, and protective applications, along with regulatory pressure to adopt low-emission and sustainable formulations. The competitive landscape keeps changing due to the technological advances and the changing preferences of the end users who opt for high-performance and eco-friendly solutions.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
The impact on consumers' business emerges from customer trends or disruptions. Construction firms, automotive manufacturers, and industrial fabricators are the main clients of paints & coatings producers, while architectural, automotive, and protective applications represent the core demand base. Any changes in construction activity, vehicle production, or regulatory standards will have an immediate effect on the end-user revenues. These changes in revenues stimulate procurement volumes from applicators and contractors, which then have an impact on production planning, capacity utilization, and revenue streams of paints and coatings manufacturers.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Environmental regulations boosting demand for VOC-free coatings
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Growing popularity of elastomeric coatings in tilt-up concrete in building & construction industry
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Difficulty in obtaining thin films in powder coatings
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Raw material shortage in paints & coatings industry
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Increasing applications of fluoropolymers in building & construction industry
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Growing demand for high-performance fluorine resin-based coatings
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Stringent regulatory policies
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Environmental regulations boosting demand for VOC-free coatings
Environmental regulations are driving the paints & coatings industry toward massive change toward VOC-free, low-emission formulations. The stringent rules of the U.S. EPA NESHAP and EU REACH limit the use of high VOC solvents and hazardous ingredients, pushing manufacturers to reformulate their products with cleaner alternatives. These regulations affect not only the final coatings but also the raw materials, as suppliers are forced to provide safer binders, additives, and solvents that comply with constantly evolving standards. This transition has been instrumental in the growth of waterborne, high-solids, powder, and UV-cured coatings, which are inherently compatible with low-emission requirements. Customers in the construction, automotive, and industrial manufacturing sectors are driving the trend toward compliant coatings as they set their own sustainability and safety goals. Besides the regulatory pressure, the demand for bio-based ingredients, advanced resin chemistries, and more efficient curing processes has also been accelerated.
Restraint: Raw material shortage in paints & coatings industry
Supply of raw materials remains a major challenge for manufacturers due to the heavy reliance on complex supply chains of petrochemical and inorganic feedstocks. Materials such as resins, titanium dioxide, solvents, pigments, and specialty additives are highly susceptible to disruptions resulting from refinery outages, geopolitical tensions, transportation delays, or changes in global production capacity. While substitutes may be available, they are often more expensive, less accessible, or still in the process of scaling up. These supply uncertainties make production planning more difficult, increasing the lead times and adding cost pressure. Therefore, the demand for sustainable coatings also burdens the supply, as newer bio-based and low-VOC ingredients are not yet produced at the same global scale as the traditional materials. Thus, raw material volatility continues to be a factor that limits stable and predictable market growth.
Opportunity: Growing demand for high-performance fluorine resin-based coatings
High-performance fluorine-based coatings are a top choice in sectors that require extreme durability, chemical resistance, and long-term operational reliability. Their inert nature and low surface energy can prevent very aggressive chemicals, solvents, and environmental contaminants; hence, they are used in heavy industrial equipment, marine structures, transportation components, and aerospace parts. These properties of the coatings help extend the maintenance interval and reduce the risk of premature surface degradation. The developments in fluorinated resin technology have also led to improved adhesion, flexibility, and film smoothness, facilitating their use across metals, composites, and engineered substrates. Furthermore, the coating retains its color and structure even at very high or very low temperatures and after prolonged UV exposure.
Challenge: Stringent regulatory policies
Strict regulatory policies have significantly impacted the paints & coatings industry, creating challenges in operations and product formulations. Limitations on the use of hazardous chemicals, restrictions on VOC emissions, and measures to reduce worker exposure make it necessary to continuously reformulate and test coating systems. Some of the most challenging situations arise when certain high-performance ingredients, e.g., corrosion inhibitors, plasticizers, and biocides, become limited or phased out, prompting manufacturers to seek substitutes that may not deliver identical performance. Manufacturers often find that the task of balancing durability, aesthetics, and environmental requirements increases their R&D costs and puts pressure on their supply chains. Moreover, differences in regulatory frameworks across the globe further complicate matters. As policies keep getting stricter, the industries crucial challenge is to stay compliant and at the same time, maintain the quality of products.
PAINTS & COATINGS MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
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Advanced corrosion-resistant and lightweight automotive coatings applied on vehicle bodies and components for mass production | Extended vehicle lifespan, improved fuel efficiency through weight reduction, enhanced surface finish, and compliance with emission and durability standards |
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Protective and decorative coatings used on bridges, industrial structures, and commercial buildings exposed to harsh environments | Improved structural durability, resistance to weathering and chemicals, lower maintenance costs, and longer asset life cycles |
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High-performance insulating and protective coatings for printed circuit boards, casings, and electronic assemblies | Enhanced moisture and chemical resistance, improved electrical insulation, increased product reliability, and reduced failure rates |
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Anti-corrosive and anti-fouling coatings applied on ships, containers, and port equipment operating in marine conditions | Reduced corrosion damage, improved fuel efficiency, extended service intervals, and lower operational and maintenance costs |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The paints & coatings market is an ecosystem consisting of raw material suppliers (The Chemours Company, Arkema, LyondellBasell Industries N.V.), manufacturers (The Sherwin-Williams Company, PPG Industries, Inc., Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., Axalta Coating Systems LLC), and end users (Bechtel Corporation, Nippon Steel Corporation, Toyota Motor Corporation). Raw materials such as resins, pigments, solvents, and additives are combined to produce decorative, industrial, automotive, and protective coatings that can provide durability, aesthetics, corrosion resistance, or functional performance. End users in the construction, transportation, and industrial sectors are the main drivers of demand for compliant, high-performance coatings, whereas manufacturers are responsible for ensuring formulation stability, efficient application, and regulatory compliance. Collaboration across the value chain enables innovation, sustainability, and consistent market solutions.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Paints & Coatings Market, By Resin Type
In 2024, the acrylic resins segment accounted for the largest share in the overall paints & coatings market. Acrylic resins are highly adhesive and can be used on any surface, such as concrete, metal, wood, plastics, and masonry. Their broad compatibility lowers the need for different coating systems and thus, inventory handling is simplified for both end users and manufacturers. Acrylic coatings, in particular, bond well in renovation and refurbishment projects where surfaces may be in varying conditions and require minimal preparation. This substrate versatility, which is the main reason for the substantial growth of acrylic resins, allows them to penetrate the architectural, industrial, and decorative coatings markets.
Paints & Coatings Market, By Technology
In 2024, the waterborne coatings segment accounted for the largest share in the overall paints & coatings market. Consumers are becoming more conscious of indoor air quality and the health risks associated with paints and coatings. Waterborne coatings are chosen mainly because they have a low odor, emit fewer harmful gases, and are safer to handle during the application process. This makes them perfect for homes, offices, schools, hospitals, and commercial buildings. Contractors also prefer these coatings because they contribute to the creation of a healthier work environment. As interior renovation and repainting activities are getting more frequent, especially in cities, the demand for coatings that are safe to apply is increasing.
Paints & Coatings Market, By End-use Industry
In 2024, the industrial segment accounted for the largest share in the paints & coatings market, in terms of value. The growth of factories, warehouses, refineries, and processing plants is driving a steady demand for industrial paints and coatings. Both new construction and renovation projects require coatings for flooring, walls, pipelines, storage tanks, and steel structures. While industrial progression is taking place in both emerging and developed regions, the use of coatings is not limited to the construction phase but also extends to regular maintenance. The cycle of construction and maintenance of industrial infrastructure thus makes this sector a major contributor to the growth of the paints & coatings market.
REGION
Asia Pacific to be fastest-growing region in global paints & coatings market during forecast period
Asia Pacific accounted for the largest share of the global paints & coatings market in 2024. The region is also projected to be the fastest-growing region during the forecast period. The governments of various countries in the Asia Pacific region are undertaking a massive infrastructure development program. These projects call for protective and decorative coatings to extend surface life, resist weathering, and lower maintenance costs. Steel structures, concrete surfaces, and public amenities further require the application of heat, rain, and pollution, resistant coatings, driving demand in the region.
PAINTS & COATINGS MARKET: COMPANY EVALUATION MATRIX
In the paints & coatings market matrix, The Sherwin-Williams Company (Star) leads with a strong market share and broad product portfolio. Its ability to deliver high-performance, durable, and regulatory-compliant products has made it the preferred partner for contractors, OEMs, and infrastructure developers worldwide. Asian Paints Limited (Emerging Leader) is becoming increasingly popular due to its cost-effective formulations, strong brand equity, and growing footprint, especially in the Asia Pacific region. While Sherwin-Williams is winning through scale, global reach, and innovation, Asian Paints is showing considerable potential to move into the leaders quadrant as demand for region-focused, sustainable, and value-driven coatings continues to grow.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size Value in 2024 | USD 198.02 Billion |
| Revenue Forecast in 2030 | USD 249.78 Billion |
| Growth Rate | CAGR of 4.01% from 2025 to 2030 |
| Years Considered | 2020–2030 |
| Base Year | 2024 |
| Forecast Period | 2025–2030 |
| Units Considered | Value (USD Million), Volume (Kiloton) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered |
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| Regional Scope | Asia Pacific, Europe, North America, Middle East & Africa, and South America |
WHAT IS IN IT FOR YOU: PAINTS & COATINGS MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
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| Europe-based Paints & Coatings Manufacturer |
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| Asia Pacific-based Paints & Coatings Manufacturer |
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RECENT DEVELOPMENTS
- March 2025 : The Sherwin-Williams Company acquired Shingels, S.A., a Barcelona-based paints and coatings manufacturer specializing in aluminum coil coating and industrial applications across Europe.
- November 2024 : PPG Industries, Inc. went through a strategic distribution partnership, appointing SARO/Siccardi, Italy’s largest powder-coatings distributor, to strengthen PPG’s coverage and service in Italy.
- April 2024 : AkzoNobel is expanding its Sassenheim site in the Netherlands with two new research labs, representing an investment of around USD 8.7 million.
- February 2022 : Nippon Paint Holdings Co., Ltd. began selling “PROTECTON Car Interior VK Coat,” an antiviral and antibacterial coating for car interiors, in Japan to meet customer demand in the next-generation automotive industry.
- September 2021 : Axalta Coating Systems LLC completed the previously announced acquisition of U-POL Holdings Limited (U-POL). U-POL is a leading supplier of paints, protective coatings, and accessories primarily for the automotive aftermarket.
Table of Contents
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Methodology
The study involved four major activities in order to estimate the current size of the paints & coatings market. Exhaustive secondary research was conducted to gather information on the market. The next step was to conduct primary research to validate these findings, assumptions, and sizing with the industry experts across the value chain. Both top-down and bottom-up approaches were used to estimate the total market size. The market size of segments and subsegments was then estimated using market breakdown and data triangulation.
Secondary Research
Secondary sources include annual reports of companies, press releases, investor presentations, white papers, articles by recognized authors, and databases, such as D&B, Bloomberg, Chemical Weekly, and Factiva; and publications and databases from associations.
Primary Research
Extensive primary research was carried out after gathering information about paints & coatings market through secondary research. In the primary research process, experts from the supply and demand sides have been interviewed to obtain qualitative and quantitative information and validate the data for this report. Questionnaires, emails, and telephonic interviews were used to collect primary data. Primary sources from the supply side include industry experts, such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the paints & coatings market. Primary interviews were conducted to elicit information such as market statistics, revenue data collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also assisted in comprehending the various trends associated to resin type, technology, end-use industry, and region.
The Breakup of Primary Research:
To know about the assumptions considered for the study, download the pdf brochure
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COMPANY NAME |
DESIGNATION |
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The Sherwin-Williams Company |
Sales Manager |
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PPG Industries, Inc. |
Project Manager |
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AkzoNobel N. V. |
Individual Industry Expert |
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RPM International, Inc. |
Manager |
Market Size Estimation
The following information is part of the research methodology used to estimate the size of the paints & coatings market. The market sizing of the paints & coatings market was undertaken from the demand side. The market size was estimated based on market size for paints & coatings in various technology.
Global Paints & Coatings Market Size: Bottom-Up Approach
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Global Paints & Coatings Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall market size, the market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Paints & coatings are generally applied to surfaces of stationary structures, such as bridges, buildings, and roads, or parts of stationary structures that include facades, pavements, and pre-fabricated materials. These coatings can be used for protection and esthetic purposes.
Key Stakeholders
- End User
- Raw Material Suppliers
- Senior Management
- Procurement Department
Report Objectives
- To define, describe, and forecast the size of the paints & coatings market in terms of value and volume
- To provide detailed information about the drivers, restraints, opportunities, and challenges influencing the growth of the market
- To forecast the market size by Resin Type, Technology, and End-use Industry
- To forecast the market size with respect to five main regions: North America, Europe, Asia Pacific, South America, and Middle East & Africa
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
- To analyze competitive developments in the market, such as Merger, Acquisitions, and expansions
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the paints & coatings market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the paints & coatings market
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Get 10% Free CustomisationGrowth opportunities and latent adjacency in Paints & Coatings Market
Luciana
Jan, 2018
Fer sections from Paints & Coatings Market needed.
Wendy
May, 2016
Market estimation of additives used in coating applications and growth trends present in the market.
Luis
Aug, 2019
General information on global coating industry.
Robert
Aug, 2019
Paints & Coatings high-growth niche segments, and financial details of key players.
ADRIAN
Aug, 2015
architectural coatings segment for academic work.
Alexis
Jan, 2019
Information on coating Euipments market by type in south america.
Roberto
Feb, 2017
Coating market and FDA regulation.
Tiina
Aug, 2018
Interested in Nordic, Baltics and China.
Shawn
Jul, 2022
Interested to know the Paints & Coatings Market analysis - 2030 which should cover the market sizes and growth forecast divided into different geographies, applications, technologies and substrates.
The countries with detailed data need are: Finland, Sweden, Russia, Poland, Baltics, China, Denmark and Norway.
In addition, we would need the global and European total figures for applications, technologies and substrates.
The industry coatings we are interested are: * Wood * Doors & windows, Claddings, Joinery * Metal * OEM (ACE, Robotics, Material handling equipment, Engines, Transformators) * PC (Infrastructure, Power generation, Oil&Gas, Passive Fire Protection) In addition we are interested in: * Market drivers * Regulations * Relevant competitors * Megatrends and trends, especially: * Robotics * Construction market * Industrial manufacturing trends * China Information on Paints& Coatings Market Report - 2030 and part of Conductive Ink Report.
Need customized report, based on integral Paints & Coatings report to add following Conductive Ink Report contents.
The contents as bellow: 1 Executive Summary
2 Premium Insights
3 Conductive Inks Market, By Type
4. Carbon/Graphene Inks
5. Conductive Inks Market, By Application
6. Conductive Inks Market, By Region.
Paresh
Jan, 2017
Industrial water base & Solvent base paint market and market insights.
Noora
Jun, 2019
Trends and the future of the Paints & Coatings industry.
Alan
Sep, 2019
Report title not mentioned.
Satya
Aug, 2019
Information on product portfolio of top players along with competitive leadership mapping of key players present in the market.
Satish
Dec, 2019
General information on global paints and coatings industry.
Mohan
Dec, 2019
Global Paint & Coating market insights.
Erich
Jun, 2015
Requires clarification of segmentation.
Carlos
May, 2019
Paints & Coatings Market.
DAVID
Mar, 2015
Specific interest on paints & catings usage in automotive industry.
Thiago
Jan, 2017
want the background for Coatings Market for PHD thesis work.