The report covers US Paint and Coating Industry Manufacturers and it is segmented by Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types), Technology (Water-borne, Solvent-borne, Powder Coatings, and Other Technologies), End-user Industry (Architectural, Automotive, Wood, Industrial, Transportation, and Packaging). The market size and forecasts for United States Paints and Coatings are provided in terms of value (USD million) for all the above segments.

In 2024, the market value of the paint and coatings industry in the United States was estimated at approximately 34.52 billion U.S. dollars. It is forecast that the industry will reach a market value of some 36.34 billion dollars in 2025.

The Report Covers North America Paints and Coating Companies and the Market is segmented by resin type (acrylic, alkyd, polyurethane, epoxy, polyester, polyurethane, and other resin types), technology (water-borne, solvent-borne, powder coating, and UV-cured coating), end-user (architectural, automotive, wood, protective coatings, general industrial, transportation, and packaging), and geography (United States, Canada, Mexico, and rest of North America). The market size and forecast value (USD million) for all the above segments.

In 2024, architectural coatings were estimated to account for 59 percent of the paint and coatings market value in the United States. OEM and special purpose coatings had a market share of 27 and 14 percent, respectively. That year, the U.S. paints and coatings market value was estimated at around 34.5 billion U.S. dollars.

The Latin American Paints and Coatings Market Report is Segmented by Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types), Technology (Water-Borne, Solvent-Borne, Powder Coating, and UV-Cured), End-User (Architectural, Automotive, Wood, Protective Coatings, General Industrial, Transportation, and Packaging), and Geography (Brazil, Argentina, Colombia, Chile, Peru, Mexico, and Rest of Latin America). The Report Offers Market Size and Forecasts in Terms of Revenue (USD) for all the Above Segments.

The market value of paints and coatings industry in North America was around 37.1 billion U.S. dollars in 2023. It is forecast that this market value will increase to roughly 49.6 billion U.S. dollars by 2031. Additional information on the global paints and coatings market can be found here.

The Global Paints and Coatings Market is Segmented by Resin (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types), Technology (Water-Borne Coatings, Solvent-Borne Coatings, Powder Coatings, and UV-Cured Technologies), End-User Industry (Architectural, Automotive, Wood, Protective Coatings, General Industrial, Transportation, and Packaging Coatings), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Report Offers Market Size and Forecasts for the Paints and Coatings Market in Revenue (USD) for all the Above Segments.

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Paints and Coatings Market Size 2025-2029

The paints and coatings market size is forecast to increase by USD 42.05 billion, at a CAGR of 4.3% between 2024 and 2029.

The market is driven by increasing demand from the construction sector and advancements in eco-friendly formulations. Key factors include a shift in consumer preference toward sustainable, low-VOC products and innovations like water-based coatings that meet stricter environmental standards. 
This report provides a comprehensive look at market size, growth forecasts through 2029, and key segments such as architectural and automotive coatings, offering practical insights for refining business strategies, improving client engagement, and optimizing operations. It highlights the rising trend of bio-based resins as a sustainable innovation while addressing challenges like fluctuating raw material costs that impact pricing and supply chains. For businesses aiming to stay competitive in the global paints and coatings market, this report delivers actionable data to navigate evolving trends and tackle operational hurdles effectively.

What will be the Size of the Paints and Coatings Market During the Forecast Period?

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The market encompasses a wide range of products used across various industries to provide protection, enhance aesthetics, and improve performance. High performance ceramics play a significant role in this market, particularly in the production of aircraft turbine engines, where they offer superior heat resistance and durability. Sustainability is a key consideration in the paints and coatings industry, with a growing emphasis on reducing environmental impact. Acrylic resin, alkyd resin, and epoxy resin are commonly used in architectural coatings and industrial wood coatings as well as coating additives due to their low VOC (volatile organic compound) emissions. In the marine and automotive sectors, high-tech coatings such as fluoropolymers and polyvinylidene difluoride (PVDF) are utilized for their excellent corrosion protection and resistance to extreme temperatures and weather conditions. Thermoplastic and thermosetting resins are also popular in marine coatings for their hardness and friction properties. The architectural paints and coatings segment includes exterior and interior wall paints, enamels, and wood finishes.
Pigments, binders, and additives are essential components of these coatings, contributing to their color, texture, and durability. The wood industry relies on coatings for protection against wear and tear, as well as for enhancing the appearance of wood products. Vegetable resin, polyurethane (PU) resin, and polyester resin are commonly used in wood coatings due to their ability to form a protective film and provide excellent adhesion. Evaporation is a critical factor in the production and application of paints and coatings. Coil coatings and packaging coatings are designed to minimize evaporation, ensuring efficient use of raw materials and reducing waste. The market caters to various industries, including low-cost housing and commercial construction, where coatings are used to enhance durability and reduce maintenance costs. The market is constantly evolving to meet the changing needs of industries and consumers, with ongoing research and development focusing on improving performance, sustainability, and cost-effectiveness.
The paints and coatings market is evolving with a growing demand for eco-friendly and sustainable solutions. Low-VOC coatings and water-based paints are gaining popularity for their reduced environmental impact. Antimicrobial coatings and self-healing coatings are being increasingly used in healthcare and industrial applications for added protection. Powder coatings and automotive coatings offer durable and aesthetically pleasing finishes, while industrial protective coatings provide long-lasting corrosion resistance. Smart coatings, nanocoatings, and UV-curable coatings are driving innovation in functionality and performance. Fire-resistant paints and corrosion-resistant coatings enhance safety and durability, and decorative paints continue to be favored for interior design. The market is also witnessing a rise in sustainable bio-based coatings, aligning with the global shift toward greener products.

How is the Paints and Coatings Market Segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Technology

  Water-based
  Solvent-based
  Others


Resin Type

  Acrylic resins
  Epoxy resins
  Polyurethane resins
  Alkyd resins
  Others


End-user Industry

  Architectural
  Automotive
  Wood
  Protective Coatings
  General Industrial
  Transportation
  Packaging Coatings


Product

The market value of the paint and coatings industry worldwide reached approximately 179.98 billion U.S. dollars. It is forecast that by 2032 the sector’s market value will surpass 255.59 billion U.S. dollars.

Paint and coatings companies

Sherwin-Williams and PPG industries are the two top players in the global paint and coatings industry. In 2021, each company had a market share of approximately 11.2 percent. The two paints and coatings suppliers are based in the United States. Sherwin-Williams is headquartered in Ohio, whereas PPG Industries’ headquarters are located in Pittsburg, Pennsylvania. Other important paint and coatings companies worldwide include the Dutch multinational AkzoNobel and Japanese manufacturer Nippon Paint.

Paint and coatings: a major subset of the chemical industry

The paint and coatings industry is broad and dynamic. Paints and coatings are extensively used in building and construction, as well as in a wide variety of industries. These include finishes for automobiles and other transportation equipment, medical products, and wood and non-wood furniture, among others. Research and development in the field is extensive and focuses on coatings with highly specialized applications. Solar panel coatings, self-cleaning paint, and anti-microbial coatings are a few examples.

South America's Paints and Coatings Market Report is Segmented by Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types), Technology (Water-Borne, Solvent-Borne, Powder Coating, and UV-Cured Coating), End-User Industry (Architectural, Automotive, Wood, Protective Coatings, General Industrial and Other End-User Industries), and Geography (Brazil, Argentina, Colombia, Chile, Peru, and the Rest of South America). The Market Size and Forecasts Have Been Done On the Basis of Value (USD) for Each Segment.

In 2023, the U.S. paint and coating market decreased by -0.7% to $25.5B, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $25.9B in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Paints and Coatings Market was worth USD 121.9 billion in 2013 and is expected to grow at a CAGR of 5.5% during 2014 to 2020, to reach an estimated value of USD 176.5 billion in 2020.

In 2022, Sherwin-Williams and PPG Industries were the main paint and coatings companies worldwide, each with a market share of approximately 11.33 percent. These two U.S.-based companies are particularly dominant in the North American market. Meanwhile, the European paint and coatings market, is led by the Dutch multinational AkzoNobel. Sherwin-Williams Sherwin-Williams is a paint and coatings company headquartered in Cleveland, Ohio. The company was established in 1886 and was responsible for the introduction of the first ready-mixed paint to the market. In 2020, it generated a revenue of over 23.1 million U.S. dollars, up from 11 million dollars almost a decade earlier. Sherwin-Williams employed some 64 thousand people in 2023. PPG Industries PPG industries was founded in 1883 in Pittsburg, Pennsylvania as a plate glass manufacturer and expanded into the paints market by the end of 1900. Today, the company is a global supplier of paints, coatings, and specialty materials. PPG Industries’ revenue grew from 11.2 million U.S. dollars in 2010 to 18.25 million dollars in 2022. In that latter year, the number of employees of PPG industries stood at 53 thousand.

According to Cognitive Market Research, the global Paint & Coatings market size is USD 192514.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.60% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 77005.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.8% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 57754.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 44278.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 9625.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.0% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 3850.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031.
The Acrylic held the highest Paint & Coatings market revenue share in 2024.

Market Dynamics of Paint & Coatings Market

Key Drivers of Paint & Coatings Market

Growing construction activities to Increase the Demand Globally

Future growth in the global construction sector is expected due to increasing urbanization, improved infrastructure, and rising disposable incomes. This increase will lead to increased demand for paints and coatings in various industries, such as industrial, commercial, and residential development. These coatings are essential for guaranteeing longevity, improving aesthetics, and shielding structures from the elements. The need for premium paints and coatings is predicted to rise as construction activity worldwide picks up, offering manufacturers and suppliers in this industry attractive potential. To meet this need, the paint and coatings sector must be innovative, sustainable, and adaptable to meet the changing needs of the construction market.

Increasing demand for furniture to Propel Market Growth

The increasing demand for homeownership, growing disposable incomes, and the trend of urbanization are all driving the furniture market's projected stable expansion. Due to this expansion, the need for paints and coatings for furniture finishing will rise. These finishes protect furniture against environmental elements, dampness, and wear and tear while improving its visual appeal. Customers' desire to customize their living areas will drive up demand for premium finishes that are both aesthetically pleasing and long-lasting. The furniture business presents prospects for market expansion and distinctiveness, and manufacturers in the paints and coatings sector are anticipated to innovate and diversify their product offerings to meet this growing demand.

Restraint Factors Of Paint & Coatings Market

Rising concerns about volatile organic compounds (VOCs) to Limit the Sales

Because volatile organic compounds (VOCs) contribute to air pollution and pose health hazards, there is growing concern about VOCs. Volatile organic compounds (VOCs) are released by paints and coatings and dissipate at room temperature. The market for low-VOC and VOC-free alternatives is expected to grow as environmental restrictions become more stringent. However, the cost of formulating and producing these coatings is frequently higher, limiting market expansion. Even amid economic constraints, consumer awareness and regulatory pressure drive the industry's shift towards eco-friendly and sustainable solutions. As a result, manufacturers are forced to spend money on R&D to reduce VOC emissions while maintaining the performance and affordability of their products, which encourages the shift to greener coatings technologies.

Impact of Covid-19 on the Paint & Coatings Market

The COVID-19 pandemic has various effects on the paint and coatings industry. Lockdowns and other interruptions in the industrial and construction industries initially lowered demand. Nevertheless, the business recovered as regulations relaxed, propelled by a rise in house renovation projects and a need for coatings that prioritized hygiene. Shortages of raw materials and supply chain disruptions presented difficulties that impacted pricing and output. Customer pre...

The US Paints and Coatings Market size was valued at USD 27550 Million in 2023 and is projected to reach USD 39620 Million by 2032, exhibiting a CAGR of 4.00">> 4.00 % during the forecast periods. The paints and coatings market of the US would grow further due to growing construction, automobile, and industrial sectors. These coatings exhibit good adhesion, durability, and resistance to climatic and other environmental factors. Typical uses are residential and commercial buildings, auto parts, and industrial equipment. The segmentation of the market is based on: by type, architectural, industrial, and specialty coatings; and by technology: solvent-borne, water-borne, and powder coatings. Advancements in technology are focused on eco-friendly formulations and high-performance characteristics. This will connote improved protection and aesthetic coatings on the surface, which contributed to long life and better performance. Growth and innovation are boosted by advantages of compliance with stricter environmental legislation, reduced maintenance, and rise in demand in the market. Recent developments include: January 2023: BYK, a global manufacturer of specialty chemicals, expanded its production facility in Shanghai. The total investment of the phase II project (SCIP II) covers an area of 1.16 hectares, and the site is designed for an annual capacity of 4,750 tons. BYK is significantly expanding its production capacity in China and expanding its coatings business., November 2022: Sherwin-Williams announced the expansion of the Sheffield paint production facility with a Euro 10 million investment and the relocation of paint production from Europe to the UK. By integrating processes and lowering freight, the investment would increase Sherwin-Williams' capacity to supply the UK and Europe. It will also assist the company in lowering its carbon footprint.. Key drivers for this market are: Increasing Commercial Construction Activities in the United States, Other Drivers. Potential restraints include: Fluctuations in the prices of Raw materials, Other Restraints. Notable trends are: Acrylic Resin Dominating the Market.

Global Paints and Coatings Market reached US$ 197.8 billion in 2023 and is expected to reach US$ 260.5 billion by 2031

In 2022, Florida had the most paint and coatings industry establishments of any state, with a total of 6.43 thousand establishments. California ranked a close second, with some 6.26 thousand paint and coatings establishments. That same year, California was the U.S. state with the most employees in the paint and coatings industry.

According to Cognitive Market Research, the global Specialty Paints and Coatings market size will be USD 3524.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1409.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1057.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 810.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 176.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 70.49 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Powder coatings are the fastest-growing market sector in the Specialty Paints and Coatings industry

Market Dynamics of Specialty Paints and Coatings Market

Key Drivers for Specialty Paints and Coatings Market

Rising consumption in end-user industries drives the growth of the Specialty paint and coatings market

Rising consumption by end-user industries is predicted to drive future expansion in the paint and coatings industry. Paint and coating use is rapidly increasing across a wide range of sectors. Paints and coatings are widely utilized in the automotive, construction, and manufacturing industries, with paint and coatings protecting surfaces, improving aesthetics, and providing corrosion protection in the construction industry. For instance, In May 2023, privately owned home starts were at a seasonally adjusted annual rate of 1,631,000, up 21.7% from the revised April 2023 prediction of 1,340,000 and 5.7% from the May 2022 rate of 1,543,000. The US Census Bureau reported these figures and the Department of Housing and Urban Development. In May 2023, the number of privately owned home completions was 1,518,000 on a seasonally adjusted annual basis, up 5.0% from 1,446,000 in May 2022 and 9.5% from the revised April 2023 forecast of 1,386,000. As a result, the paint and coatings industry is predicted to develop due to increased demand from end users.

Growth in the automotive industry drives the Specialty paint and coatings market

The growing automotive industry is likely to drive future growth in the paint and coatings market. The automotive business includes a wide range of organizations and activities linked to the design, manufacture, sale, and maintenance of automobiles. The automobile industry uses paint and coatings to protect vehicle surfaces from corrosion, provide aesthetic finishes, and increase durability, eventually improving vehicle look and longevity while meeting design and safety standards. For instance, in September 2023, the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade body, announced that UK car manufacturing climbed by 28.9% in July compared to the previous year to 85,304 units. Year on year, production of passenger automobiles climbed by 31.6% to 76,451 units, while commercial vehicle production increased by 9.3% to 8,853 units. As a result, the paint and coatings business is growing in tandem with the automobile industry

Restraint Factor for the Specialty Paints and Coatings Market

Strict and regulatory policies

Paint and coating manufacturers must constantly enhance their operations to meet various governments' expanding regulatory rules. Non-compliant products are forbidden in nations with stringent environmental restrictions. Unfortunately, some legislators continue to establish emission limitations based primarily on the proportion of volatile organic compounds in exhaust fumes. This can result in approval for processes with high mass emissions that require high airflows, as opposed to procedures with low mass emissions that demand very low airflows. The concentration technique also ignores the lower air emissions associated with low-VOC coatings. These factors are limiting the market's growth throughout the forecast period

Impact of Covid-19 on the Specialty Paints an...

In 2024, the production volume of the paint and coatings industry in the United States was estimated at approximately 1.36 billion gallons. It is forecast that the industry's production will surpass 1.39 billion gallons in 2025.

The Latin America paints and coatings market valued at USD 10440.57 Million in 2024. The market is further assessed to grow at a CAGR of 2.70% during 2025-2034 to record a value of USD 13627.89 Million by 2034.