Product Code: GVR-1-68038-497-0
Paints And Coatings Market Growth & Trends:
The global paints and coatings market size is anticipated to reach USD 280.2 billion by 2030, growing at a CAGR of 4.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly attributed to increasing consumption of products in automotive, construction, and general industries. The global construction industry is a major consumer of paints & coatings globally. Increasing urbanization and industrialization across the world have led to increased requirements for construction and infrastructure development, globally.
In recent years, the market for paints & coatings has experienced growth, owing to the adoption of environmentally friendly materials that align with sustainable or green chemistry principles. This shift is fueled by rising consumer consciousness toward sustainable products and presence of stringent environmental regulations, which aim at reducing volatile organic compounds (VOC) emissions.
For instance, the product portfolio of Axalta Coating Systems, LLC includes Montana Big Sky Low VOC Basecoat, which meets a wide variety of automotive refinishing requirements. Akzo Nobel N.V. has an Interpon product line, which offers eco-friendly solutions for its customers. Similarly, other players in the market are actively engaged in research and development of eco-friendly and sustainable solutions to reduce their greenhouse gas emissions and lower their ecological footprint. This trend of sustainable products is expected to drive the market over the forecast period.
VOCs are subject to several statutory regulations and legislations. Use of these organic compounds in products is regulated by governmental & federal agencies to limit human exposure to toxic substances and control VOC emissions. VOCs are regulated by international & national regulatory bodies. Chemical industry associations, such as the European Chemical Industry Council (CEFIC) and the German Chemical Industry Association, along with other scientific groups, are constantly working to evaluate and develop paints & coatings with low-VOC content for use in various industries.
Paints And Coatings Market Report Highlights:
- Based on product, the waterborne coatings segment dominated the market with a revenue share of 40.8% in 2023, owing to their wide usage in confined & poorly ventilated spaces. These coatings dry at a faster rate, due to rapid evaporation of water.
- Powder-based coatings are more durable and eco-friendlier compared to their counterparts. They have negligible VOC content, due to the absence of solvents, thus, they comply efficiently & economically with the environmental protection regulations.
- In 2023, Asia Pacific dominated the market with a revenue share of 34.6%, attributed to rising construction activities and growing demand from the automotive sector in emerging countries, such as India, Japan, and South Korea.
- China is expected to be one of the promising markets in the region on account of the government's support to promote investments in the manufacturing sector.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Paints & Coatings Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Global Paints & Coatings Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Raw Material Trends
- 3.2.2. List of Key Raw Material Suppliers
- 3.2.3. Manufacturing/ Technology Trends
- 3.2.4. Sales Channel Analysis
- 3.2.5. List of Distributors
- 3.2.6. List of Potential End-users
- 3.3. Regulatory Framework, By Regions
- 3.4. Price Trend Analysis
- 3.4.1. Factors Influencing Prices
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Industry Challenges
- 3.5.4. Industry Opportunities
- 3.6. Industry Analysis Tools
- 3.6.1. Porter's Five Forces Analysis
- 3.6.2. Macro-environmental Analysis
Chapter 4. Paints & Coatings Market: Product Estimates & Trend Analysis
- 4.1. Product Movement Analysis & Market Share, 2023 & 2030
- 4.2. Radiation Cured Coatings
- 4.2.1. Radiation Cured Coatings Market Estimates & Forecast, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.1. Radiation Cured Coatings Market Estimates & Forecast, By Raw Material, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.1.1. Radiation Cured Coatings Market Estimates & Forecast, By Oligomers, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.1.2. Radiation Cured Coatings Market Estimates & Forecast, By Monomers, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.1.3. Radiation Cured Coatings Market Estimates & Forecast, By Photo initiators, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.1.4. Radiation Cured Coatings Market Estimates & Forecast, By Additives, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.2. Radiation Cured Coatings Market Estimates & Forecast, By Formulation, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.2.1. Radiation Cured Coatings Market Estimates & Forecast, By Ultraviolet Curing, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.2.2. Radiation Cured Coatings Market Estimates & Forecast, By Electro Beam Curing, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3. Radiation Cured Coatings Market Estimates & Forecast, By Application, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3.1. Radiation Cured Coatings Market Estimates & Forecast, in Wood, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3.2. Radiation Cured Coatings Market Estimates & Forecast, in Industrial, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3.3. Radiation Cured Coatings Market Estimates & Forecast, in Printing Inks, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3.4. Radiation Cured Coatings Market Estimates & Forecast, in Paper & Film, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3.5. Radiation Cured Coatings Market Estimates & Forecast, in Electronic Products, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3.6. Radiation Cured Coatings Market Estimates & Forecast, in Adhesives, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3.7. Radiation Cured Coatings Market Estimates & Forecast, in Glass, 2018 to 2030 (USD Million) (Kilotons)
- 4.2.1.3.8. Radiation Cured Coatings Market Estimates & Forecast, in Other Applications, 2018 to 2030 (USD Million) (Kilotons)
- 4.3. Powder Coatings
- 4.3.1. Powder Coatings Market Estimates & Forecast, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.1. Powder Coatings Market Estimates & Forecast, By Resin, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.1.1. Powder Coatings Market Estimates & Forecast, By Epoxy, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.1.2. Powder Coatings Market Estimates & Forecast, By Polyester, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.1.3. Powder Coatings Market Estimates & Forecast, By Epoxy-Polyester (Hybrid), 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.1.4. Powder Coatings Market Estimates & Forecast, By Acrylic, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.1.5. Powder Coatings Market Estimates & Forecast, By Polyurethane, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.1.6. Powder Coatings Market Estimates & Forecast, By Others, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.2. Powder Coatings Market Estimates & Forecast, By Application, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.2.1. Powder Coatings Market Estimates & Forecast, in Consumer Goods, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.2.2. Powder Coatings Market Estimates & Forecast, in Architectural, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.2.3. Powder Coatings Market Estimates & Forecast, in Automotive, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.2.4. Powder Coatings Market Estimates & Forecast, in General Industries, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.2.5. Powder Coatings Market Estimates & Forecast, in Furniture, 2018 to 2030 (USD Million) (Kilotons)
- 4.3.1.2.6. Powder Coatings Market Estimates & Forecast, in Other Applications, 2018 to 2030 (USD Million) (Kilotons)
- 4.4. Waterborne
- 4.4.1. Waterborne Coatings Market Estimates & Forecast, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.1. Waterborne Coatings Market Estimates & Forecast, By Resin, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.1.1. Waterborne Coatings Market Estimates & Forecast, By Epoxy, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.1.2. Waterborne Coatings Market Estimates & Forecast, By Polyester, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.1.3. Waterborne Coatings Market Estimates & Forecast, By Epoxy-Polyester (Hybrid), 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.1.4. Waterborne Coatings Market Estimates & Forecast, By Acrylic, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.1.5. Waterborne Coatings Market Estimates & Forecast, By Polyurethane, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.1.6. Waterborne Coatings Market Estimates & Forecast, By Others, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2. Waterborne Coatings Market Estimates & Forecast, By Application, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.1. Waterborne Coatings Market Estimates & Forecast, in Architectural, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.2. Waterborne Coatings Market Estimates & Forecast, in General Industrial, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.3. Waterborne Coatings Market Estimates & Forecast, in Automotive OEM, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.4. Waterborne Coatings Market Estimates & Forecast, in Metal Packaging, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.5. Waterborne Coatings Market Estimates & Forecast, in Protective Coatings, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.6. Waterborne Coatings Market Estimates & Forecast, in Automotive Refinish, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.7. Waterborne Coatings Market Estimates & Forecast, in Industrial Wood, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.8. Waterborne Coatings Market Estimates & Forecast, in Marine, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.9. Waterborne Coatings Market Estimates & Forecast, in Coil, 2018 to 2030 (USD Million) (Kilotons)
- 4.4.1.2.10. Waterborne Coatings Market Estimates & Forecast, in Other Applications, 2018 to 2030 (USD Million) (Kilotons)
- 4.5. Solvent-borne Coatings
- 4.5.2. Solvent-borne Coatings Market Estimates & Forecast, 2018 to 2030 (USD Million) (Kilotons)
- 4.5.2.1. Solvent-borne Coatings Market Estimates & Forecast, By Type, 2018 to 2030 (USD Million) (Kilotons)
- 4.5.2.1.1. One Component Solvent-borne Coatings Market Estimates & Forecast, 2018 to 2030 (USD Million) (Kilotons)
- 4.5.2.1.2. Two Component Solvent-borne Coatings Market Estimates & Forecast, 2018 to 2030 (USD Million) (Kilotons)
- 4.5.2.2. Solvent-borne Coatings Market Estimates & Forecast, By Application, 2018 to 2030 (USD Million) (Kilotons)
- 4.5.2.2.1. Solvent-borne Coatings Market Estimates & Forecast, in Automotive Solvent-borne Coatings, 2018 to 2030 (USD Million) (Kilotons)
- 4.5.2.2.2. Solvent-borne Coatings Market Estimates & Forecast, in Industrial Solvent-borne Coatings, 2018 to 2030 (USD Million) (Kilotons)
- 4.5.2.2.3. Solvent-borne Coatings Market Estimates & Forecast, in Printing Inks, 2018 to 2030 (USD Million) (Kilotons)
- 4.5.2.2.4. Solvent-borne Coatings Market Estimates & Forecast, in Other Applications, 2018 to 2030 (USD Million) (Kilotons)
Chapter 5. Paints & Coatings Market: Regional Estimates & Trend Analysis
- 5.1. Regional Movement Analysis & Market Share, 2023 & 2030
- 5.2. North America
- 5.2.1. North America Paints & Coatings Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.2.2. U.S.
- 5.2.2.1. Key country dynamics
- 5.2.2.2. U.S. Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.2.3. Canada
- 5.2.3.1. Key country dynamics
- 5.2.3.2. Canada Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.2.4. Mexico
- 5.2.4.1. Key country dynamics
- 5.2.4.2. Mexico Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.3. Europe
- 5.3.1. Europe Paints & Coatings Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.2. Germany
- 5.3.2.1. Key country dynamics
- 5.3.2.2. Germany Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.3. UK
- 5.3.3.1. Key country dynamics
- 5.3.3.2. UK Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.4. France
- 5.3.4.1. Key country dynamics
- 5.3.4.2. France Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.5. Italy
- 5.3.5.1. Key country dynamics
- 5.3.5.2. Italy Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.6. Spain
- 5.3.6.1. Key country dynamics
- 5.3.6.2. Spain Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.4. Asia Pacific
- 5.4.1. Asia Pacific Paints & Coatings Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.4.2. China
- 5.4.2.1. Key country dynamics
- 5.4.2.2. China Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.4.3. India
- 5.4.3.1. Key country dynamics
- 5.4.3.2. India Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.4.4. Japan
- 5.4.4.1. Key country dynamics
- 5.4.4.2. Japan Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.4.5. South Korea
- 5.4.5.1. Key country dynamics
- 5.4.5.2. South Korea Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.5. Central & South America
- 5.5.1. Central & South America Paints & Coatings Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.5.2. Brazil
- 5.5.2.1. Key country dynamics
- 5.5.2.2. Brazil Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.5.3. Argentina
- 5.5.3.1. Key country dynamics
- 5.5.3.2. Argentina Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.5.4. Costa Rica
- 5.5.4.1. Key country dynamics
- 5.5.4.2. Costa Rica Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.6. Middle East & Africa
- 5.6.1. Middles East & Africa Paints & Coatings Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.6.2. Saudi Arabia
- 5.6.2.1. Key country dynamics
- 5.6.2.2. Saudi Arabia Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.6.3. South Africa
- 5.6.3.1. Key country dynamics
- 5.6.3.2. South Africa Paints & Coatings Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
Chapter 6. Paints & Coatings Market - Competitive Landscape
- 6.1. Recent Developments & Impact Analysis, By Key Market Participants
- 6.2. Company Categorization
- 6.3. Company Market Share/Position Analysis, 2023
- 6.4. Company Heat Map Analysis
- 6.5. Company Market Share Analysis, 2023
- 6.6. Strategy Mapping
- 6.7. Company Profiles
- 6.7.1. Jotun
- 6.7.1.1. Participant's overview
- 6.7.1.2. Financial performance
- 6.7.1.3. Product benchmarking
- 6.7.1.4. Recent developments
- 6.7.2. The Sherwin-Williams Company
- 6.7.2.1. Participant's overview
- 6.7.2.2. Financial performance
- 6.7.2.3. Product benchmarking
- 6.7.2.4. Recent developments
- 6.7.3. Axalta Coating Systems
- 6.7.3.1. Participant's overview
- 6.7.3.2. Financial performance
- 6.7.3.3. Product benchmarking
- 6.7.3.4. Recent developments
- 6.7.4. PPG Industries, Inc.
- 6.7.4.1. Participant's overview
- 6.7.4.2. Financial performance
- 6.7.4.3. Product benchmarking
- 6.7.4.4. Recent developments
- 6.7.5. RPM INTERNATIONAL, INC
- 6.7.5.1. Participant's overview
- 6.7.5.2. Financial performance
- 6.7.5.3. Product benchmarking
- 6.7.5.4. Recent developments
- 6.7.6. BASF SE
- 6.7.6.1. Participant's overview
- 6.7.6.2. Financial performance
- 6.7.6.3. Product benchmarking
- 6.7.6.4. Recent developments
- 6.7.7. Henkel AG & Company, KGaA
- 6.7.7.1. Participant's overview
- 6.7.7.2. Financial performance
- 6.7.7.3. Product benchmarking
- 6.7.7.4. Recent developments
- 6.7.8. Contego International Inc.
- 6.7.8.1. Participant's overview
- 6.7.8.2. Financial performance
- 6.7.8.3. Product benchmarking
- 6.7.8.4. Recent developments
- 6.7.9. Hempel A/S
- 6.7.9.1. Participant's overview
- 6.7.9.2. Financial performance
- 6.7.9.3. Product benchmarking
- 6.7.9.4. Recent developments
- 6.7.10. No-Burn Inc.
- 6.7.10.1. Participant's overview
- 6.7.10.2. Financial performance
- 6.7.10.3. Product benchmarking
- 6.7.10.4. Recent developments
- 6.7.11. Nullifire
- 6.7.11.1. Participant's overview
- 6.7.11.2. Financial performance
- 6.7.11.3. Product benchmarking
- 6.7.11.4. Recent developments
- 6.7.12. 3M
- 6.7.12.1. Participant's overview
- 6.7.12.2. Financial performance
- 6.7.12.3. Product benchmarking
- 6.7.12.4. Recent developments
- 6.7.13. Albi Protective Coatings
- 6.7.13.1. Participant's overview
- 6.7.13.2. Financial performance
- 6.7.13.3. Product benchmarking
- 6.7.13.4. Recent developments
- 6.7.14. Akzo Nobel N.V.
- 6.7.14.1. Participant's overview
- 6.7.14.2. Financial performance
- 6.7.14.3. Product benchmarking
- 6.7.14.4. Recent developments