The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global paints and coatings market grew from $230.96 billion in 2022 to $248.87 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The paints and coatings market is expected to grow to $326.09 billion in 2027 at a CAGR of 7.0%.

What will drive the paints and coatings market?
The growth in end-user industries is expected to drive the paint and coatings market during the forecast period.

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Who are the major players in the market?
Major Market Players in the paints and coatings market include Sherwin Williams Co, PPG Industries Inc., Akzo Nobel N.V, BASF SE, Nippon Paint Holdings Co Ltd

Which trend is gaining popularity in the paints and coatings market?
Biocides are being used in paints to enhance their longevity and to maintain their quality. Biocide additives have been designed to protect paints from getting damaged during storage or to keep fungi and algae from growing on the applied paints. The market for biocides in paints will continue to grow due to the switch from solvent-based to water-based paints as they are not hazardous for human health and the environment and minimize fungal and algae growth. However, the replacement of traditional biocides based on chlorine and formaldehyde with environmentally friendly biocides adds to the cost of paint production.

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How is the paints and coatings market segmented?

• By Type: Water Borne Coatings, Solvent Based Coatings, Powder Coatings, Other Paints and Coatings

• By Application: Architectural, Automotive, Wood, Packaging, Aerospace, Other Applications
• By Type of Resin: Acrylic, Polyurethanes, Polyesters, Epoxy, Alkyd, Other Type of Resins
• By Performance Range: Commodity Coating Range, Engineering Coating Range, High-Performance Coating Range
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global paints and coatings market in 2022.

The Paints And Coatings Global Market Report 2023  provides an overview of the paints and coatings market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The paints and coatings market forecast analyzes paints and coatings market size, paints and coatings market share, leading competitor and their market positions.

The paints and coatings are products that manufactured by mixing pigments, solvents, and binders into paints and other coatings, such as stains, varnishes, lacquers, enamels, shellacs, and water-repellent coatings for concrete and masonry, and/or produce allied paint products, such as putties, paint and varnish removers, paintbrush cleaners, and frit.

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