Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, PU, Vinyl, Fluoropolymer, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural (Residential, Non-residential), Industrial) and Region - Global Forecast to 2026

Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, PU, Vinyl, Fluoropolymer, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural (Residential, Non-residential), Industrial) and Region - Global Forecast to 2026

The Paints & Coatings market is projected to grow from USD 184 Billion in 2021 to USD 212 Billion by 2026, at a CAGR of 2.9% between 2021 and 2026. The key factor driving the growth of the market is increasing demand from the construction and automotive industries.

“Architectural end-use industry segment is the largest segment of the Paints & Coatings market.”

Architectural paints & coatings, also known as decorative paints & coatings or building paints, are applied to the interior and exterior walls of all types of residential, commercial, industrial, and institutional buildings. Apart from their decorative features, architectural paints & coatings also possess some protective features. For instance, exterior architectural paints & coatings protect a building from extreme rain, sunlight, and wind. These are applied either by building contractors or directly by customers as do-it-yourself (DIY). Architectural coatings also find use in decorative interiors such as furniture, wood flooring, wall paintings, and sculptures. An increase in environmental awareness among consumers and manufacturers has led to technological innovations in the coating industry to provide quality products that are affordable, of high quality, possess value-added features, and meet the global trends. Similarly, growing safety standards will raise the demand for waterproof and fireproof coatings for buildings.

“Asia Pacific is the fastest-growing Paints & Coatings market during the forecast period.”

Asia Pacific is the largest paints & coatings market, in terms of both value and volume, and is projected to be the fastest-growing market during the forecast period. The region has witnessed economic growth over the last decade.

According to the IMF and World Economic Outlook, China and Japan were the world’s second- and third-largest economies, respectively, in 2020. The United Nations Population Fund states that Asia Pacific accounts for 60% of the world’s population, which is 4.7 billion people. The region includes the world’s most populous countries such as China and India. This is projected to become an increasingly important driver of the global construction industry over the next two decades. The market will also be fueled by the rapidly rising household income and the fast-growing demand from smaller towns and rural areas because of increased customer awareness.

Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and sub-segments.

Breakdown of Primary Interviews:
By Company Type: Tier 1 – 42%, Tier 2 – 33%, and Tier 3 – 25%
By Designation: C Level – 35%, D Level – 45%, and Others – 19%
By Region: Europe – 42%, North America – 25%, Asia Pacific – 17%, South America- 8%, and the Middle East & Africa – 8%

The key companies profiled in this report are AkzoNobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams (US), RPM International (US), and Nippon Paint (Japan).

Research Coverage:

The Paints & Coatings market has been segmented based on Technology (Waterborne, Solventborne, Powder Coatings and others), by resin (Acrylic, Alkyd, Epoxy, Polyester, Polyurethane, Vinyl, Fluoropolymer,and others), by end-use industries (Architectural, Industrial, and others) and by Region (APAC, North America, Europe, South America, and Middle East & Africa).

Reasons to Buy the Report

From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:
Market Penetration: Comprehensive information on Paints & Coatings offered by top players in the market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for Paints & Coatings across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the market.