The global paints and coatings market was valued at USD 164.00 billion in 2022 and is expected to grow at a CAGR of 5% from USD 171.55 billion in 2023 to USD 241.32 billion by 2030.
Advances will be driven by developing regions and their economic growth, particularly in the Asia/Pacific market. In this regions China, India and South East Asian Countries are expected to grow and the building & construction industry will boost sales of paints and coatings. Suppliers to developed regions also benefit from genius development and capital spending outlooks. This will boost the selling of automotive coatings for motor vehicle manufacturing and maintenance. However, Specific benefits can be offset by the increased usage in the industrialized and developing world of higher quality coatings and more effective applications, reducing the amount needed to complete a given paintwork.
India is expected to grow rapidly, as a result of massive investment in the manufacturing or upgrading of homes, industries and industrial installations. paint usage should become powered. An increasing middle group will continue to increase the demand for architectural paints in China which alone accounts for over one third of the global market, while strong production gains will boost the sale of industrial coatings.
Paints & Coatings Market Scope
|Revenue forecast in 2030
|USD 241.32 billion
|CAGR of 5 % during 2020-2030
|Technology, Provider, Application, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Apollo Education Group, Inc., Articulate Global, Inc., Baidu Inc., Blackboard Inc., Cisco Systems, Inc., Citrix Systems, Inc., Compunnel Software Group Inc., Coursera, Inc., D2L Corporation, Docebo, Inc, edX Inc, Epicor Software Corporation, and GitHub Inc.
Key Segment Of The Paints & Coatings Market
By Resin Type (USD Billion)
• Polyether Etherketone (Peek)
• Polyether Ketone (Pek)
• Polyaryl Etherketone (Paek) And Others
By Application, (USD Billion)
Regional Overview, (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
The US will demonstrate its strongest results as a building company within developing countries and will make good progress with fixed investment spending. With building beginning to rebound, the architectural paint market remains the biggest and fastest rising segment of industry. Increased building budget would also fuel rise for many construction goods, including safe including specialist items like furniture and industrial repair coverings. Whilst a lot of the transition to aquatic paints in the architectural painting industry has already happened, increasingly stringent VOC legislation will affect the move in the production and security and specialty industries.
In terms of technology, the global paints and coating market is segmented into Waterborne Technology, Solvent borne Technology, Powder Coating, Others. Water based formulations will overtake solvent-based forms for the first time in the safety and specialty coating industry until 2020. The paint markets in Western Europe are projected to increase owing to improving economic growth and a revival of the building industry. The volatile organic (VOC) content of their products tends to decline due to increased regulatory pressures from coating manufacturer worldwide.
In terms of application, the global paints and coatings is segmented into Architectural and industrial. Many interior and exterior architectural paintings are now painted and rendered into one common product, which permits the use of less painting coats that result in improved productivity and environmental benefits. Such combinations provide a more reliable and long-lasting high-quality application and thus reduces the painting frequency of multiple applications. Some high toughness (HD) wall coatings are specially designed for extended service life in areas mostly disinfected, scrubbed and harsh chemicals in commercial and institutional buildings like schools, hospitals, colleges and hotel halls.
In terms of region the global Paints & Coatings market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East and Africa. The most demand growth for the projected period is anticipated in Asia-Pacific regions because of increased disposable income (specifically in China & India), which drives Architectural sales and Industrial as well.
In recent years, this area has also experienced growth due to investment by MNCs and growing industries. Asian-pacific regions are followed by the Middle East & African countries because of upcoming projects. Key players include AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems LLC, Jotun A/S, Nippon Paint Holdings Co., Ltd, Asian Paints Limited, Kansai Paint Co., Ltd., RPM International Inc., Tikkurila OYJ, Hempel A/S, Berger Paints India Limited, Shalimar Paints, Masco Corporation, BASF Coatings GmbH, S K Kaken Co., Ltd., Beckers Group, Dunn-Edwards Corporation, Tiger Coatings GmbH & Co. KG, SACAL International Group Ltd, Diamond Vogel Paint Company. Vista Paints Corporation. Indigo Paints PVT Ltd, Kelly-Moore Paints