Paints and coatings are widely used in industries for protecting machines and equipment from rusting and corrosion, whereas decorative paints and coatings are used applied on interior and exterior walls of residential and corporate buildings. Rising population and disposable income is boosting the demand for consumer goods and automotive, which in turn is boosting industrialization. To embellish and protect a surface, paints and coatings are applied to the substrate. When applied for decorative purposes, paints and coatings enhance the surface's longevity and aesthetics. Additionally, they shield the surface from damaging elements, rust, ageing, and chemical exposure. In some applications, paints and coatings also offer particular qualities including anti-fouling, flame retardancy, and anti-microbial capabilities. Due to economic expansion and the consequent rise in living standards of those in the region's developing nations, the building and construction sector has been growing rapidly across the Asia Pacific region. In the Asia Pacific, this is increasing the demand for paints and coatings. The widespread use of paints and coatings in the building and automotive industries is a major factor driving the global market for them.

Market Dynamics

Global paints and coatings market has witnessed significant growth in recent past years, owing to rising emergence and rampant adoption of new coating technologies such as waterborne coatings, high-solids coatings, two-component systems, powder coatings, and radiation-curable coatings. This is expected to boost demand for paints and coatings in the near future.

Major players in the global paints and coatings market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in various end user industries such as transportation, automotive, furniture, packaging, metal manufacturing and others. This is expected to fuel the market growth during the forecast period.

Key features of the study:

• This report provides in-depth analysis of global paints and coatings market size (US$ Billion and Kilo Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2023 – 2030), considering 2022 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
• It profiles leading players in the global paints and coatings market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study includes Akzo Nobel N.V., Asian Paints, Axalta Coating Systems, BASF SE, Berger Paints India Limited, Deutsche Amphibolin-Werke Von Robert Murjahn Stiftung & Company, Diamond Vogel Paints, Helios Group, KCC Corporation, Masco Corporation, Nippon Paint, and PPG Industries Inc.
• Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, Product Type up-gradation, market expansion, and marketing tactics
• Global Paints and coatings market report caters to various stakeholders in this industry including investors, suppliers, global paints and coatings manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global paints and coatings market

Detailed Segmentation:

• Global Paints and Coatings Market, By Product Type:
  • High Solids/Radiation Cure
  • Powder Coatings
  • Waterborne Coatings
  • Solvent-borne Coatings
  • Others
• Global Paints and Coatings Market, By Application:
  • Automotive & Aviation
  • Medical & Healthcare
  • Residential
  • Commercial
  • Others
• Global Paints and Coatings Market, By Region:
  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • Germany
    • U.K.
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Australia
    • India
    • Rest of the Asia Pacific
    • Rest of the World
• Company Profiles
  • Akzo Nobel N.V.*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • Asian Paints
  • Axalta Coating Systems
  • BASF SE
  • Berger Paints India Limited
  • Deutsche Amphibolin-Werke Von Robert Murjahn Stiftung & Company
  • Diamond Vogel Paints
  • Helios Group
  • KCC Corporation
  • Masco Corporation
  • Nippon Paint
  • PPG Industries Inc.

“*” marked represents similar segmentation in other categories in the respective.