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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Paints And Coatings Market: By Resin, By Product Type By Application and Region Forecast 2020-2031
Paints and Coatings Market size was valued at US$ 227.8 billion in 2024 and is expected to reach US$ 377.9 billion by 2031, growing at a significant CAGR of 7.5% from 2025-2031. The coatings and paints industry includes those products applied to prevent, improve, and modify surfaces in various industries such as manufacturing, aerospace, automotive, and construction. The painting and coatings business is influenced by several drivers such as growing demand from the automotive and building sectors, R&D of environmentally friendly formulas, and growing infrastructure development. The trend toward powder and waterborne coatings due to environmental regulations is also driving market growth. On top of this, development in intelligent coatings and nanotechnology is also enhancing the performance and life cycle of the product.
But simultaneously, the market is confronted with limitations of volatile raw material prices, stringent environmental regulations, and excessive production costs. The supply chain disruptions and volatility in the crude oil prices affect the supply of essential components such as solvents and resins. In addition to this, manufacturers' competition and the need to innovate continuously in an effort to address sustainability requirements are disrupting the market growth.
Based on the resin:
Acrylic resin holds a significant market share in volume due to its adhesion, drying speed, relative resistance, and flexibility properties, making it suitable for use in paints and coatings. The growing use of acrylic for architectural coatings of exterior and interior walls, panels, and windows is the main factor driving demand for the product.
Based on the product type:
The waterborne coatings segment is gaining significant interest in the market due to its environmental friendliness and strict compliance with environmental regulation. The water is the solvent base for the coatings, and VOC emissions are minimal, together with being safer for application and the environment. They have widespread application in architectural, automotive, and industrial markets, with high durability, corrosion resistance, and easy application.
Based on the application:
The architecture segment is anticipated to dominate in revenue and volume throughout the projected period. In architectural applications, paints and coatings are chiefly used for decorative purposes for non-residential and residential infrastructure and buildings to protect them from UV radiation and environmental damage among other factors. The rising use of these materials in various industries, such as automotive construction, is anticipated to drive the growth of this market.
Study Period
2025-2031Base Year
2024CAGR
7.5%Largest Market
Asia-PacificFastest Growing Market
North-America
There exist certain drivers of the paint and coatings industry. Expansion in the construction and automotive sectors is one of the major drivers because both of these sectors require high-performance coatings as far as durability and appearance are concerned. Urbanization and infrastructure growth are propelling the demand for architectural coatings, whereas expansion in the automotive business is driven by innovation in decorative and protective coatings. Increasing green and low-VOC laws are compelling the movement towards greener and lower VOC systems, and that's compelling innovation in waterborne finishes and powder finishes. New technologies such as nanotechnology and smart coatings are also enhancing product performance with characteristics such as self-cleaning, corrosion-resistant, and antibacterial. Increasing demand from aerospace, marine, and electronics industries for industrial finishes is also compelling market growth.
The paint and coatings industry is impacted by a variety of factors that are limiting in character, including the volatility of raw material prices, strict environmental regulations, and manufacturing's capital intensity. Price volatility in crude oil and supply chain disturbance impact the availability of solvents and resins as critical materials, and the cost of manufacturing is increased. Regulatory constraints on volatile organic compounds (VOCs) are forcing the companies to make investment in green formulation that is bound to be costly and technologically demanding. The industry is facing stringent competition as well, and there is a constant requirement of innovation to match the requirements of sustainability and demands. Economic instability and lackluster construction in certain geographies also limit growth prospects.
The coatings and paints industry has vast scope for growth and expansion. The growing need for environmentally friendly and low-VOC coatings is forcing green formulation forms such as powder coatings and waterborne coatings to be developed. Smart coatings with self-healing, antimicrobial, and anti-corrosion functionalities are finding growing use in the aerospace, healthcare, and automobile industries. Developing markets, especially Asia-Pacific and Latin America, are highly promising as a result of bursting urbanization and infrastructure creation. Moreover, the nanotechnology revolution is opening up new prospects for the feasibility of high-performance coatings with improved functionality and durability. Increased use of digital technologies for color matching and customization is also opening up new business prospects for manufacturers.
The coatings and paints industry is changing with certain key trends. Consumer and environmental legislation is creating increasing demand for low-VOC, environmentally friendly paints and coatings. Powdered coatings and water-based coatings are gaining popularity as sustainable substitutes for solvent-based products. Intelligent coatings with anti-corrosive, self-healing, and antimicrobial functions are being employed more in the automotive, aerospace, and healthcare industries. Nanotechnology advancements are assisting in the development of high-performance coatings with increased functionality and endurance. The Asia-Pacific region is expanding rapidly as a result of urbanization, infrastructure, and increased investment towards development growth. Moreover, technology for digital color matching and personalization is also developing new business prospects for the companies.
Report Benchmarks |
Details |
Report Study Period |
2025-2031 |
Market Size in 2024 |
US$ 227.8 billion |
Market Size in 2031 |
US$ 377.9 billion |
Market CAGR |
7.5% |
By Resin |
|
By Product Type |
|
By Application |
|
By Region |
|
According to PBI Analyst, the market is seeing steady growth, driven by increasing demand in the automotive, construction, and industrial markets. The movement towards greener chemistries, like powder and waterborne coatings, is changing industry patterns as firms concentrate on sustainability and compliance. Technological advancements, such as nanotechnology and smart coatings, are enhancing product performance, offering self-healing, anti-corrosion, and antimicrobial properties. Despite strong market expansion, challenges such as fluctuating raw material prices, supply chain disruptions, and stringent environmental regulations persist. The volatility in crude oil prices affects the availability of key ingredients like resins and solvents, leading to higher production costs.
Further, competition among manufacturers requires that they innovate continually to match shifting consumer preferences and eco-friendliness. Opportunities for market growth are abundant in emerging markets, particularly in the Asia-Pacific and Latin America regions, fueled by urbanization and infrastructure. Utilization of digital solutions for color matching and customization is also creating new business opportunities for manufacturers. With the market changing, strategic research and development spending will be crucial in maintaining ongoing competitive advantage and resolving market concerns.
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The paints and coatings market size was valued at US$ 227.8 billion in 2024 and is projected to grow at a CAGR of 7.5% from 2025 to 2031.
The growing demand for antimicrobial coatings, smart coatings with self-healing properties, and bio-based formulations presents new opportunities. Additionally, the expansion of infrastructure projects in emerging markets is fueling demand for high-performance coatings.
North-America is the fastest-growing region for the market
Jotun, The Sherwin-Williams Company, Axalta Coating Systems, PPG Industries, Inc., RPM INTERNATIONAL, INC., BASF SE, Henkel AG & Company, KGaA, Contego International Inc., Hempel A/S, No-Burn Inc., Nullifire, 3M, Albi Protective Coatings, Akzo Nobel N.V.
1.Executive Summary |
2.Global Paints And Coatings Market Introduction |
2.1.Global Paints And Coatings Market - Taxonomy |
2.2.Global Paints And Coatings Market - Definitions |
2.2.1.Resin |
2.2.2.Product Type |
2.2.3.Application |
2.2.4.Region |
3.Global Paints And Coatings Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Paints And Coatings Market Analysis, 2020 - 2024 and Forecast 2025 - 2031 |
4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Paints And Coatings Market By Resin, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
5.1. Epoxy |
5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Acrylic |
5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Polyester |
5.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Alkyd |
5.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Polyurethane (PU) |
5.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
5.6. Others |
5.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.6.3. Market Opportunity Analysis |
6.Global Paints And Coatings Market By Product Type, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
6.1. Waterborne |
6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Solvent Borne |
6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Powder Coating |
6.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. UV Coatings |
6.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Others |
6.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
7.Global Paints And Coatings Market By Application, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
7.1. Architectural |
7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Automotive OEM |
7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Marine |
7.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Coil |
7.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
7.5. General Industries |
7.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.5.3. Market Opportunity Analysis |
7.6. Protective Coatings |
7.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.6.3. Market Opportunity Analysis |
7.7. Automotive Refinish |
7.7.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.7.3. Market Opportunity Analysis |
8.Global Paints And Coatings Market By Region, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9.North America Paints And Coatings Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
9.1. Resin Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Epoxy |
9.1.2.Acrylic |
9.1.3.Polyester |
9.1.4.Alkyd |
9.1.5.Polyurethane (PU) |
9.1.6.Others |
9.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Waterborne |
9.2.2.Solvent Borne |
9.2.3.Powder Coating |
9.2.4.UV Coatings |
9.2.5.Others |
9.3. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Architectural |
9.3.2.Automotive OEM |
9.3.3.Marine |
9.3.4.Coil |
9.3.5.General Industries |
9.3.6.Protective Coatings |
9.3.7.Automotive Refinish |
9.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10.Europe Paints And Coatings Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
10.1. Resin Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Epoxy |
10.1.2.Acrylic |
10.1.3.Polyester |
10.1.4.Alkyd |
10.1.5.Polyurethane (PU) |
10.1.6.Others |
10.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Waterborne |
10.2.2.Solvent Borne |
10.2.3.Powder Coating |
10.2.4.UV Coatings |
10.2.5.Others |
10.3. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Architectural |
10.3.2.Automotive OEM |
10.3.3.Marine |
10.3.4.Coil |
10.3.5.General Industries |
10.3.6.Protective Coatings |
10.3.7.Automotive Refinish |
10.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
11.Asia Pacific (APAC) Paints And Coatings Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
11.1. Resin Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Epoxy |
11.1.2.Acrylic |
11.1.3.Polyester |
11.1.4.Alkyd |
11.1.5.Polyurethane (PU) |
11.1.6.Others |
11.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Waterborne |
11.2.2.Solvent Borne |
11.2.3.Powder Coating |
11.2.4.UV Coatings |
11.2.5.Others |
11.3. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Architectural |
11.3.2.Automotive OEM |
11.3.3.Marine |
11.3.4.Coil |
11.3.5.General Industries |
11.3.6.Protective Coatings |
11.3.7.Automotive Refinish |
11.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12.Middle East and Africa (MEA) Paints And Coatings Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
12.1. Resin Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Epoxy |
12.1.2.Acrylic |
12.1.3.Polyester |
12.1.4.Alkyd |
12.1.5.Polyurethane (PU) |
12.1.6.Others |
12.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Waterborne |
12.2.2.Solvent Borne |
12.2.3.Powder Coating |
12.2.4.UV Coatings |
12.2.5.Others |
12.3. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Architectural |
12.3.2.Automotive OEM |
12.3.3.Marine |
12.3.4.Coil |
12.3.5.General Industries |
12.3.6.Protective Coatings |
12.3.7.Automotive Refinish |
12.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13.Latin America Paints And Coatings Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
13.1. Resin Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Epoxy |
13.1.2.Acrylic |
13.1.3.Polyester |
13.1.4.Alkyd |
13.1.5.Polyurethane (PU) |
13.1.6.Others |
13.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Waterborne |
13.2.2.Solvent Borne |
13.2.3.Powder Coating |
13.2.4.UV Coatings |
13.2.5.Others |
13.3. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Architectural |
13.3.2.Automotive OEM |
13.3.3.Marine |
13.3.4.Coil |
13.3.5.General Industries |
13.3.6.Protective Coatings |
13.3.7.Automotive Refinish |
13.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.Jotun |
14.2.2.The Sherwin-Williams Company |
14.2.3.Axalta Coating Systems |
14.2.4.PPG Industries, Inc. |
14.2.5.RPM International, Inc. |
14.2.6.BASF SE |
14.2.7.Henkel AG & Company, KGaA |
14.2.8.Contego International Inc. |
14.2.9.Hempel A/S |
14.2.10.No-Burn Inc. |
14.2.11.Nullifire |
14.2.12.3M |
14.2.13.Albi Protective Coatings |
14.2.14.Akzo Nobel N.V. |
15. Research Methodology |
16. Appendix and Abbreviations |
Key Market Players