Paints and Coatings Market - Databook 2025 to 2034

The global paints and coatings market size surpassed USD 185.93 billion in 2024 and is predicted to reach around USD 283.26 billion by 2034, registering a CAGR of 4.3% from 2025 to 2034.

Highlights of the Paints and Coatings Market

• Asia Pacific dominated the global market in 2024.
• Europe is anticipated to grow at the fastest rate in the market during the forecast period.
• By material, the acrylic segment held a dominant presence in the market in 2024.
• By material, the polyurethane segment is projected to experience the highest growth rate in the market between 2025 and 2034.
• By product, the waterborne coatings segment led the market.
• By application, the architectural & decorative segment maintained a leading position in the market in 2024.
• By application, the non-architectural segment is anticipated to grow with the highest CAGR in the market during the studied years.

Industry Valuation and Growth Rate Projection

The global paints and coatings markets have been growing tremendously due to various demands from key sectors such as the automotive, construction, and general manufacturing industries. The automotive sector has been especially impacted regarding demand-supply relationships for paint, serving both protective and aesthetic purposes for personal transportation and industrial output. In construction, paints and coatings are critically important for enhancing structural vitality and appearance, particularly for residential compared to commercial projects.

The pace of urbanization and infrastructure development in emerging economies has driven a boom in residential construction. Paints and coatings are thus being adopted architecturally, with a growing trend towards their application in durable and aesthetically pleasing finishes for both interiors and exteriors. Additionally, there is a revamping of technologies in developing sustainable coating applications to minimize environmental impacts while formulating bio-based, recyclable products. Furthermore, advancement in the industry has been fueled not only by ownership and maintenance demands from customers but also by the automotive sector's call for performance and aesthetic appeal in these coatings.

Paints and Coatings Market: Stats and Figures

• In 2022, there were some 53,200 paint and coatings establishments in the United States.
• Product shipments by U.S. paint and coatings producers totaled $31.6 billion in 2022.
• Japan and South Korea rounded out the top five leading export markets for U.S. paint and coatings products in 2023, at $50 million and $48 million, respectively.
• The U.S. paint and coatings industry exports to Canada ($1.3 billion) and Mexico ($815 million) in 2023 totaled $2.1 billion combined. These USMCA partners have consistently been the two largest export markets for the U.S. industry, accounting for 70% of all U.S. paint and coatings industry exports in 2023.
• The third largest export market for U.S. paint and coatings products was China at $117 million in 2023.
• The United States exported $2.9 billion in paint and coatings products in 2023.

How AI Has Benefitted the Paints and Coatings Market

• The modeling of paint properties is carried out by AI/ML algorithms.
• artificial intelligence (AI) and machine learning technologies will assist in determining the toxicity, market demand, environmental impacts, and alternative materials.
• AI and ML analyze images mainly for developing smart coatings.
• AI helps in resin formulation and recipe recommendations.
• You can construct your AI workflows around institutional and domain-specific knowledge.
• AI and ML help match colors, create new shades, aid consumers in selecting colors, create marketing strategies, improve supply chain operations, and facilitate customer engagement.
• AI truly offers color-matching tools for manufacturers to carry out their color updates.
• AI-colormatching devices operated by companies allow their manufacturers to offer innovative color solutions.

Industry Leader Announcements

• Dr Robert Heger, Vice President – BASF Polymer Dispersions for Architectural Coatings & Construction:
• “We are focusing our sustainability activities on two key levers: reducing our own CO2 emissions and enabling our customers to reduce their emissions.”
• Rachel Kracht, senior marketing manager, Pittsburgh Paints & Stains.
• “With Pittsburgh Paints & Stains Premier paint and primer, creating a fresh new vibe in your home doesn’t need to hurt your wallet.”

Geographical Insights

The global paints and coatings market is experiencing significant growth, with APAC maintaining its dominance while Europe emerges as the second dominant region in the market.

APAC

Asia-Pacific dominated the market. Urbanization, infrastructure development, and rising consumer demand give the Asia Pacific region the largest share in the global paints and coatings market. An easy supply of raw materials and flexible environmental regulations make the region favorable to manufacturers. Sustained market growth will therefore be driven by technology adoption and economic development.

China, with roughly 60% of the entire coatings volume of APAC, is the most important coatings producer and user in the region, with India (18% of regional volume) a distant second, followed by a precipitous drop-off.

Europe

Europe constitutes a significant share owing to the ongoing new construction and renovation activities. Governments have initiated the development of infrastructure while promoting pollution-free practices. Demand for advanced coatings solutions has thus increased due to investments in sustainable building materials and energy-efficient construction.

North America

The North America paints and coatings market has been growing steadily, primarily due to developments in technological innovation and the development of sustainable products. Demand remains steady across construction, automotive, and industrial sectors, with increased emphasis on high-performance and eco-friendly coatings.

Recent Developments:

• In February 2025, AkzoNobel developed a waterborne wood coating with 20% bio-based content, promoting renewable raw materials while maintaining high quality and durability, demonstrating their commitment to sustainable products.
• In September 2024, Kamdhenu Paints, a subsidiary of Kamdhenu Ventures Limited, plans to introduce a new Wood Coatings product range in October 2024, aiming to meet international quality standards.

Competitive Landscape

The paints and coatings market is rigorously competitive, with leading companies such as RPM International Inc., Henkel AG & Company, KGaA, BASF SE, Kansai Paint Co., Ltd., Hempel A/S, Nippon Paint Holdings Co., Ltd., Sika AG, and Beckers Group. The global Paints and coatings market faces intense competition due to evolving consumer preferences, innovation, and product development, with brand managers focusing on global market share and differentiation.

Based on recent data, the top three companies are:

• Company Name: PPG Industries, Inc.
• Year of Incorporation: 1883
• Headquarters: Pittsburgh, Pennsylvania

In the year 2023, net sales were approximately $18.2 billion, up about 3% versus the prior year. Organic sales were higher by 3%, driven by higher selling prices. Adjusted EPS was also a record, increasing 27% due to higher selling prices, moderating input costs, structural cost savings, and favorable foreign-currency translation, partially offset by lower sales volumes.

• Company Name: BASF SE
• Year of Incorporation: 1865
• Headquarters: Ludwigshafen, Germany

In 2023, BASF generated a revenue of around 68.9 billion euros. This represented a decrease of more than 20 percent in comparison to the previous year.

• Company Name: Kansai Paint Co., Ltd.
• Year of Incorporation: 1918
• Headquarters: Osaka, Japan

The revenue of Kansai Paint Co., Ltd., with headquarters in Japan, amounted to 562.28 billion Japanese yen in 2023. The reported fiscal year ends on March 31.