Paints and Coatings

Paints and Coatings Market is expected to reach US $ 209 BN By Forecast year 2027

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The paints and coatings market size accounted for US$ 147.03 billion in 2019 and is estimated to reach US$ 209 billion by 2027 and is anticipated to register a CAGR of 4.5% from 2020 to 2027.

The report provides the overall revenue of the global paints and coatings market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

Growth Factors

Rising demand for high-performance coatings is one of the prime factors that driver the growth of the paints & coatings market. High-performance coating includes corrosion-resistant coatings, low-temperature and high-temperature coatings, and other coating products that are primarily used for commercial applications.

On the other hand, the fluctuating price of raw materials owing to the volatility in the prices of crude oil restricts the market growth for the paints & coatings product during the analysis period. In addition, stringent regulations pertaining to the implementation of solvent-borne paints & coatings expected to impart major challenges for the growth of the paints & coatings market.

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Regional Snapshots

The Asia Pacific capture the major market value share of more than 35% in the year 2019 and anticipated to register prominent growth over the forthcoming timeframe. Availability of low cost raw materials and labors within the region is a key factor that augments the market size for paints & coatings. Because of low labor cost, several manufacturers have been attracted to the region for expanding their manufacturing base this reduces the overall cost of production as well as also increases their profit ratio. In addition to this, prominent growth of automotive industry particularly in the developing countries such as India, South Korea, China, and Southeast Asian countries is likely to drive the market for paints & coatings over the forecast timeframe. Rising demand for personal transportation coupled with rising purchasing power of consumers is the prime factor that impels the market growth.

Besides this, Europe holds the second largest position in the global paints and coatings market with more than 27% of value share in 2019. Rising building construction particularly residential and commercial buildings majorly in the Netherlands, the U.K., Hungary, Germany, Sweden, Poland, and Ireland expected to impetus the market growth for paints & coatings over the upcoming years. Furthermore, the region has supportive policies for the growth of construction as well as automotive industry that further predicted to impel the market.

Report Scope of the Paints and Coatings Market

Report Highlights Details
Market Size USD 209.09 Billion by 2027
Growth Rate CAGR of 4.5% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market Europe
Base Year 2021
Forecast Period 2021 to 2027
Segments Covered Material Type, Product Type, Application Type, Region Type
Companies Mentioned Akzo Nobel N.V.; PPG Industries, Inc.; The Sherwin-Williams Company; Jotun; Axalta Coating Systems, LLC; RPM International Inc.; Henkel AG & Company, KGaA; BASF SE; Kansai Paint Co., Ltd.; Hempel A/S; Nippon Paint Holdings Co., Ltd.; Sika AG

Report Highlights

  • The Asia Pacific covered the major part of the global revenue and accounted for more than 35% share in 2019 owing to increasing construction activities and rising demand from the automotive industry
  • Europe holds the second largest position and accounted for more than 27% of value share in 2019 due to growing the construction activities across various countries
  • The waterborne segment dominated the global market with a value share of more than 37% in 2019 owing to rising spending in the construction industry
  • The solvent-borne coatings segment estimated to register slower growth rate compared to other types of products because of stringent government regulations for the products containing VOC
  • The architectural & decorative segment captured major market share and accounted for nearly 60% of value share in 2019 owing to significant development of road and rail infrastructure

Key Players & Strategies

The global paints and coatings industry is highly fragmented in nature as it comprises of prominent number of tier 1 player that are primarily engaged in manufacturing of diverse range of paints & coating products. Besides these prominent manufacturers, the paints & coatings market is a hub of some small, however substantial manufacturers. As per an estimate, more than 50% of the top 20 manufacturers in the market contribute around 70% of the total production of paints & coatings.

Furthermore, these major market players are prominently involved in the inorganic growth strategies that include regional expansion, merger & acquisition, investment in Research & Development (R&D) activity, and many more to strengthen their foot hold in the global market. For example, in November 2019, Akzo Nobel N.V. announced to acquire Mapaero Coatings, a France-based aerospace coatings manufacturer. The acquisition helps the company to strengthen its global position in the aerospace coatings market.

Some of the prominent players in the paints and coatings market include:

  • Akzo Nobel N.V.
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Jotun
  • Axalta Coating Systems, LLC
  • RPM International Inc.
  • Henkel AG & Company, KGaA
  • BASF SE
  • Kansai Paint Co., Ltd.
  • Hempel A/S
  • Nippon Paint Holdings Co., Ltd.
  • Sika AG
  • Beckers Group
  • 3M
  • The Chemours Company

Segments Covered in the Report

By Material

  • Polyester
  • Acrylic
  • Alkyd
  • Epoxy
  • Polyurethane
  • Others

By Product

  • Solvent-borne Coatings
  • Waterborne Coatings
  • Powder Coatings
  • High Solids/Radiation Curing
  • Others (Specialty Coatings)

By Application

  • Non-Architectural
    • Wood
    • Automotive & Transportation
    • General Industrial
    • Protective
    • Marine
    • Others
  • Architectural & Decorative

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. DataSources
2.3. Assumptions& Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Paints and Coatings Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Paints and Coatings Market

5.1. Covid-19: Paints and Coatings Industry Impact
5.2. Paints and Coatings Business Impact Assessment: Covid-19
5.2.1. Supply Chain Challenges/Disruption
5.2.2. Market Trends and Paints and Coatings Opportunities in the COVID-19 Landscape
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Paints and Coatings Manufacturers to deal with Covid-19 Pandemic Scenario

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition

Chapter 7. Global Paints and Coatings Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Paints and Coatings MarketRevenue (USD Million) by Manufacturer (2015-2020)
7.1.1.2. Paints and Coatings MarketRevenue (USD Million) Market Share by Manufacturer (2015-2020)
7.1.1.3. Paints and Coatings MarketProduction (tons) by Manufacturer (2015-2020)
7.1.1.4. Paints and Coatings MarketProduction (tons) Share by Manufacturer (2015-2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Capacity Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers

Chapter 8. Global Paints and Coatings Market, By Product Type

8.1. Paints and Coatings Market, by Product Type, 2016-2027
8.1.1. Polyester
8.1.1.1. Market Revenue (USD Million) and Forecast (2016-2027)
8.1.1.2. Market Production (tons) and Forecast (2016-2027)
8.1.2. Acrylic
8.1.2.1. Market Revenue (USD Million) and Forecast (2016-2027)
8.1.2.2. Market Production (tons) and Forecast (2016-2027)
8.1.3. Alkyd
8.1.3.1. Market Revenue (USD Million) and Forecast (2016-2027)
8.1.3.2. Market Production (tons) and Forecast (2016-2027)
8.1.4. Epoxy
8.1.4.1. Market Revenue (USD Million) and Forecast (2016-2027)
8.1.4.2. Market Production (tons) and Forecast (2016-2027)
8.1.5. Polyurethane
8.1.5.1. Market Revenue (USD Million) and Forecast (2016-2027)
8.1.5.2. Market Production (tons) and Forecast (2016-2027)

Chapter 9. Global Paints and Coatings Market, By Application

9.1. Paints and Coatings Market, by Application, 2016-2027
9.1.1. Solvent-borne Coatings
9.1.1.1. Market Revenue (USD Million) and Forecast (2016-2027)
9.1.1.2. Market Consumption (tons) and Forecast (2016-2027)
9.1.2. Waterborne Coatings
9.1.2.1. Market Revenue (USD Million) and Forecast (2016-2027)
9.1.2.2. Market Consumption (tons) and Forecast (2016-2027)
9.1.3. Powder Coatings
9.1.3.1. Market Revenue (USD Million) and Forecast (2016-2027)
9.1.3.2. Market Consumption (tons) and Forecast (2016-2027)
9.1.4. High Solids/Radiation Curing
9.1.4.1. Market Revenue (USD Million) and Forecast (2016-2027)
9.1.4.2. Market Consumption (tons) and Forecast (2016-2027)
9.1.5. Others (Specialty Coatings)
9.1.5.1. Market Revenue (USD Million) and Forecast (2016-2027)
9.1.5.2. Market Consumption (tons) and Forecast (2016-2027)

Chapter 10. Global Paints and Coatings Market, By End-User

10.1. Paints and Coatings Market, by End-User, 2016-2027
10.1.1. Non-Architectural
10.1.1.1. Market Revenue (USD Million) and Forecast (2016-2027)
10.1.1.2. Market Consumption (tons) and Forecast (2016-2027)
10.1.2. Architectural & Decorative
10.1.2.1. Market Revenue (USD Million) and Forecast (2016-2027)
10.1.2.2. Market Consumption (tons) and Forecast (2016-2027)

Chapter 11. Global Paints and Coatings Market, Regional Estimates and Trend Forecast

11.1. North America
11.1.1. Market Revenue (USD Million) and Production (tons) Forecast by Product (2016-2027)
11.1.2. Market Revenue (USD Million) and Consumption (tons) Forecast by Application (2016-2027)
11.1.3. Market Revenue (USD Million) and Consumption (tons) Forecast by End-User (2016-2027)
11.1.4. U.S
11.1.4.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.1.4.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.1.5. Canada
11.1.5.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.1.5.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.2. Europe
11.2.1. Market Revenue (USD Million) and Production (tons) Forecast by Product (2016-2027)
11.2.2. Market Revenue (USD Million) and Consumption (tons) Forecast by Application (2016-2027)
11.2.3. Market Revenue (USD Million) and Consumption (tons) Forecast by End-User (2016-2027)
11.2.4. UK
11.2.4.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.2.4.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.2.5. Germany
11.2.5.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.2.5.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.2.6. France
11.2.6.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.2.6.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.2.7. Rest of EU
11.2.7.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.2.7.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.3. Asia Pacific (APAC)
11.3.1. Market Revenue (USD Million) and Production (tons) Forecast by Product (2016-2027)
11.3.2. Market Revenue (USD Million) and Consumption (tons) Forecast by Application (2016-2027)
11.3.3. Market Revenue (USD Million) and Consumption (tons) Forecast by End-User (2016-2027)
11.3.4. China
11.3.4.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.3.4.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.3.5.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.3.6. Japan
11.3.6.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.3.6.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.3.7.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.4. LATAM
11.4.1. Market Revenue (USD Million) and Production (tons) Forecast by Product (2016-2027)
11.4.2. Market Revenue (USD Million) and Consumption (tons) Forecast by Application (2016-2027)
11.4.3. Market Revenue (USD Million) and Consumption (tons) Forecast by End-User (2016-2027)
11.4.4. Brazil
11.4.4.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.4.4.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.4.5. Rest of LATAM
11.4.5.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.4.5.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.5. Middle East and Africa (MEA)
11.5.1. Market Revenue (USD Million) and Production (tons) Forecast by Product (2016-2027)
11.5.2. Market Revenue (USD Million) and Consumption (tons) Forecast by Application (2016-2027)
11.5.3. Market Revenue (USD Million) and Consumption (tons) Forecast by End-User (2016-2027)
11.5.4. GCC
11.5.4.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.5.4.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.5.5. North Africa
11.5.5.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.5.5.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.5.6. South Africa
11.5.6.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.5.6.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)
11.5.7. Rest of MEA
11.5.7.1. Market Revenue (USD Million) and Production (tons) Forecast (2016-2027)
11.5.7.2. Market Revenue (USD Million) and Consumption (tons) Forecast (2016-2027)

Chapter 12. Company Profiles

12.1. Akzo Nobel N.V.
12.1.1. Company Overview, Business Information, Manufacturing Area
12.1.2. Product Portfolio Analysis
12.1.2.1. Product Details, Specification, Application
12.1.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.1.4. Recent Developments and Strategies
12.2. PPG Industries, Inc.
12.2.1. Company Overview, Business Information, Manufacturing Area
12.2.2. Product Portfolio Analysis
12.2.2.1. Product Details, Specification, Application
12.2.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.2.4. Recent Developments and Strategies
12.3. The Sherwin-Williams Company
12.3.1. Company Overview, Business Information, Manufacturing Area
12.3.2. Product Portfolio Analysis
12.3.2.1. Product Details, Specification, Application
12.3.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.3.4. Recent Developments and Strategies
12.4. Jotun
12.4.1. Company Overview, Business Information, Manufacturing Area
12.4.2. Product Portfolio Analysis
12.4.2.1. Product Details, Specification, Application
12.4.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.4.4. Recent Developments and Strategies
12.5. Axalta Coating Systems, LLC
12.5.1. Company Overview, Business Information, Manufacturing Area
12.5.2. Product Portfolio Analysis
12.5.2.1. Product Details, Specification, Application
12.5.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.5.4. Recent Developments and Strategies
12.6. RPM International Inc.
12.6.1. Company Overview, Business Information, Manufacturing Area
12.6.2. Product Portfolio Analysis
12.6.2.1. Product Details, Specification, Application
12.6.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.6.4. Recent Developments and Strategies
12.7. Henkel AG & Company, KGaA
12.7.1. Company Overview, Business Information, Manufacturing Area
12.7.2. Product Portfolio Analysis
12.7.2.1. Product Details, Specification, Application
12.7.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.7.4. Recent Developments and Strategies
12.8. BASF SE
12.8.1. Company Overview, Business Information, Manufacturing Area
12.8.2. Product Portfolio Analysis
12.8.2.1. Product Details, Specification, Application
12.8.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.8.4. Recent Developments and Strategies
12.9. Kansai Paint Co., Ltd.
12.9.1. Company Overview, Business Information, Manufacturing Area
12.9.2. Product Portfolio Analysis
12.9.2.1. Product Details, Specification, Application
12.9.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.9.4. Recent Developments and Strategies
12.10. 3M
12.10.1. Company Overview, Business Information, Manufacturing Area
12.10.2. Product Portfolio Analysis
12.10.2.1. Product Details, Specification, Application
12.10.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.10.4. Recent Developments and Strategies
12.11. Beckers Group
12.11.1. Company Overview, Business Information, Manufacturing Area
12.11.2. Product Portfolio Analysis
12.11.2.1. Product Details, Specification, Application
12.11.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.11.4. Recent Developments and Strategies
12.12. Nippon Paint Holdings Co., Ltd.
12.12.1. Company Overview, Business Information, Manufacturing Area
12.12.2. Product Portfolio Analysis
12.12.2.1. Product Details, Specification, Application
12.12.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.12.4. Recent Developments and Strategies
12.13. The Chemours Company.
12.13.1. Company Overview, Business Information, Manufacturing Area
12.13.2. Product Portfolio Analysis
12.13.2.1. Product Details, Specification, Application
12.13.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.13.4. Recent Developments and Strategies
12.14. Sika AG
12.14.1. Company Overview, Business Information, Manufacturing Area
12.14.2. Product Portfolio Analysis
12.14.2.1. Product Details, Specification, Application
12.14.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.14.4. Recent Developments and Strategies
12.15. Hempel A/S
12.15.1. Company Overview, Business Information, Manufacturing Area
12.15.2. Product Portfolio Analysis
12.15.2.1. Product Details, Specification, Application
12.15.3. Revenue (USD Million), Production Capacity, Price and Gross Margin (2015-2020)
12.15.4. Recent Developments and Strategies

Chapter 13. Research Methodology

13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions

Chapter 14. Appendix

14.1. About Us
14.2. Glossary of Terms

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. Email: sales@flairinsight.com

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