Product Code: SR1423A254_Report
Market Overview:
- The global paints and coatings market size reached US$ 168.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 231.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
- Paints refer to pigmented liquids used to improve the aesthetics of the substrate, whereas coatings are primarily used to enhance surface properties and prevent substrate deterioration. Some commonly available product variants include waterborne, powder, high solids, radiation curing, and solvent-borne coatings. It is widely used in decorating industrial equipment, residential and non-residential infrastructures, and buildings. paints and coatings exhibit anti-fouling, flame retardancy, and anti-microbial properties. They also protect the surface from adverse environmental conditions, weathering, rust, and chemical exposure. As a result, they find extensive applications across the marine, construction, automobile, and transportation industries.
Paints and Coatings Market Trends:
- Significant growth in the construction industry across the globe is creating a positive outlook for the market. Paints and coatings are widely used on panels, windows, walls, roofs, door frames, and interior extrusions for protection, decoration, and aesthetics. Additionally, the widespread product adoption in the automotive industry, owing to their color stability, continuous protective film formation, corrosion, abrasion and scratch resistance, flexibility, and durability, is favoring the market growth. Apart from this, the introduction of volatile organic compounds (VOC) free, block resistant, and organic paints and coatings manufactured using natural ingredients like lemon peel extract, seed, clay, vegetable, and soybean oil is providing an impetus to the market growth. In line with this, the increasing utilization of environment-friendly and green coatings that minimize the adverse effects of infrared and ultraviolet (UV) radiations and improve the overall efficiency is acting as another growth-inducing factor. Furthermore, the growing environmental consciousness among the masses and the increasing demand for waterborne and powder-based coatings are providing a considerable boost to the market. Other factors, including extensive research and development (R&D) activities, the implementation of various government initiatives promoting infrastructural development, and the increasing inclination toward renovation activities, are supporting the market growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global paints and coatings market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, material and application.
Breakup by Product:
- Waterborne Coatings
- Solvent-borne Coatings
- Powder Coatings
- High Solids/Radiation Curing
- Others
Breakup by Material:
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
Breakup by Application:
- Architectural and Decorative
- Non-Architectural
- Automotive and Transportation
- Wood
- General Industrial
- Marine
- Protective
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Akzo Nobel N.V., Asian Paints Ltd., Axalta Coating Systems Ltd., Berger Paints India Limited, Indigo Paints Limited, Jotun A/S, Kansai Paint Co. Ltd., National Paints Factories Co. Ltd., PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company and Tiger Coatings GmbH & Co. KG.
Key Questions Answered in This Report:
- How has the global paints and coatings market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global paints and coatings market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global paints and coatings market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Paints and Coatings Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product
- 6.1 Waterborne Coatings
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Solvent-borne Coatings
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Powder Coatings
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 High Solids/Radiation Curing
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Others
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
7 Market Breakup by Material
- 7.1 Acrylic
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Alkyd
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Polyurethane
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Epoxy
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Polyester
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Others
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
8 Market Breakup by Application
- 8.1 Architectural and Decorative
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Non-Architectural
- 8.2.1 Market Trends
- 8.2.2 Key Segments
- 8.2.2.1 Automotive and Transportation
- 8.2.2.2 Wood
- 8.2.2.3 General Industrial
- 8.2.2.4 Marine
- 8.2.2.5 Protective
- 8.2.2.6 Others
- 8.2.3 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Akzo Nobel N.V.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Asian Paints Ltd.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.3 Axalta Coating Systems Ltd.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Berger Paints India Limited
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Indigo Paints Limited
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Jotun A/S
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 SWOT Analysis
- 14.3.7 Kansai Paint Co. Ltd.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 National Paints Factories Co. Ltd.
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 PPG Industries Inc.
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 RPM International Inc.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 The Sherwin-Williams Company
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
- 14.3.12 Tiger Coatings GmbH & Co. KG
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio