Global Paints and Coatings Market to Reach US$ 269.0 Billion by 2032, Augmented by Rising Construction Activities

March 22, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled "Paints and Coatings Market Report by Product (Waterborne Coatings, Solvent-borne Coatings, Powder Coatings, High Solids/Radiation Curing, and Others), Material (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), Application (Architectural and Decorative, Non-Architectural), and Region 2024-2032," the global paints and coatings market size reached US$ 177.4 Billion in 2023. Paints are made from a mixture of pigments, binders, solvents, and additives that are used to protect surfaces against various environmental factors, such as moisture, sunlight, and temperature fluctuations. They are an excellent way to enhance the appearance of surfaces by adding color, texture, and other decorative effects. On the other hand, coatings are produced from different materials, such as polymers, ceramics, and metals, which are applied to various surfaces like metal, plastic, wood, and concrete. They have anti fouling, anti-microbial, or self-cleaning properties and consequently applied to different surfaces using brushes, rollers, sprayers, and dip coating.

Global Paints and Coatings Market Trends:

There is a significant growth in the construction industry and an increase in the use of paints and coatings on walls, ceilings, floors, roofs, and other surfaces for protecting and enhancing the appearance of buildings. This, coupled with rising construction activities in residential, commercial, and industrial areas on account of rapid urbanization and inflating income levels, represents one of the major factors strengthening the market growth around the world. Moreover, paints and coatings are employed in the automotive industry to protect vehicles from scratches and other damages. This, along with the growing sales of luxury vehicles and the burgeoning automotive sector, is influencing the market positively. In addition, the increasing utilization of paints and coatings in the aerospace industry to prevent extreme environmental factors, such as high temperatures, corrosion, and wear and tear, is fueling the growth of the market. Apart from this, key players are introducing volatile organic compounds (VOC) free, block resistant, and organic paints and coatings that are produced using natural ingredients like lemon peel extract, seed, clay, vegetable, and soybean oil to expand their product portfolio. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 269.0 Billion by 2032, exhibiting a CAGR of 4.6% during 2024-2032.

Market Summary:

  • On the basis of the product, the market has been segmented into waterborne coatings, solvent-borne coatings, powder coatings, high solids/radiation curing, and others. At present, waterborne coatings represented the largest segment.
  • Based on the material, the market has been classified into acrylic, alkyd, polyurethane, epoxy, polyester, and others. Presently, acrylic represented the largest segment.
  • On the basis of the application, the market has been categorized into architectural and decorative and non-architectural (automotive and transportation, wood, general industrial, marine, protective, and others). Architectural and decorative currently accounted for the biggest market share.
  • Based on the region, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and the Middle East and Africa. Amongst these, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others) enjoys the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Akzo Nobel N.V., Asian Paints Ltd., Axalta Coating Systems Ltd., Berger Paints India Limited, Indigo Paints Limited, Jotun A/S, Kansai Paint Co. Ltd., National Paints Factories Co. Ltd., PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company, and Tiger Coatings GmbH & Co. KG.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Material, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Akzo Nobel N.V., Asian Paints Ltd., Axalta Coating Systems Ltd., Berger Paints India Limited, Indigo Paints Limited, Jotun A/S, Kansai Paint Co. Ltd., National Paints Factories Co. Ltd., PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company and Tiger Coatings GmbH & Co. KG.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

30 N A
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Paints and Coatings Market to Reach US$ 269.0 Billion by 2032, Augmented by Rising Construction Activities
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More