Paints and Coatings Market size is estimated at $182 billion in 2024 and is expected to grow at a CAGR of 6.2 %, reaching new heights during the forecast period: Market Decipher

PUNE, India, Jan. 27, 2025 /PRNewswire/ -- 2025 Version Report "Paints and Coatings Market Size, Statistics, Growth Trend Analysis and Forecast Report, 2025 - 2034" published by Market Decipher, presents updated findings and insights. It highlights the market size of the paints and coatings sector, driven by the growing demand for decorative and eco-friendly coatings and technological innovations in emerging markets. The paints and coating industry is projected to reach $240 billion by 2034, with a robust CAGR of 6.2% during the forecast period of 2024–2034.

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• The growing urban population and the increasing desire to enhance the aesthetic appeal of homes and buildings have significantly fueled the demand for paints and coatings in recent years. According to Market Decipher, key materials commonly used in architectural coatings, industrial wood coatings, and coating additives include acrylic resin, alkyd resin, and epoxy resin. These resins are also widely used in automotive, plastic, and wood coatings, among others. Furthermore, rapid urbanization and infrastructure development in the Asia-Pacific region especially in countries like China, India, and Japan are contributing to a substantial expansion of the paints and coatings market in this region.
• Chandradeep Singh, Lead Analyst, Market Decipher

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Manufacturing growth across electronics, railways, and industrial equipment has driven increased demand for specialized industrial coatings. As these sectors continue to expand, coating manufacturers are placing greater emphasis on developing solutions that meet exacting performance standards and adhere to stringent environmental regulations. This focus on innovation has led to the creation of coatings that offer superior durability, functionality, and sustainability, addressing the evolving needs of modern manufacturing industries and subsequently broadening the market scope.

As awareness of the environmental impact of products continues to rise, there has been a growing shift toward using environmentally friendly coatings in the paints and coatings market. These environmentally friendly coatings not only help reduce air pollution but also improve indoor air quality, making them an ideal choice for both residential and commercial projects.

However, meeting these stringent environmental regulations presents significant challenges for manufacturers. The cost of complying with evolving standards often increases operational expenses and adds a regulatory compliance burden. These additional costs can affect manufacturers' ability to remain competitive in the marketplace, as they must balance regulatory adherence with offering affordable, high-performance coatings.

The rise in global vehicle production has led to a greater demand for high-performance coatings that offer robust protection against harsh environmental conditions. These coatings play a key role in improving durability, corrosion resistance, and the overall appearance of vehicles, fueling ongoing advancements in the automotive paint and coatings industry.

Industry Segmentation for Paints and Coatings Market

By Resin Type

• Acrylic
• Epoxy
• Alkyd
• Polyurethane
• Polyester
• Other Resin

By Technology

• Water Borne Coatings
• Radiation Cured Coatings
• Powder Coatings
• Solvent Borne Coatings

By End-Use

• Architectural
  • Residential
  • Non-Residential
• Industrial
  • Protective
  • Automotive
  • Wood
  • Packaging
  • Aerospace
  • Marine
  • others

Report Details:
Number of Pages: 220
Number of Tables: 50
Number of Charts and Graphs: 80

Key Report Takeaways:

• Estimation/projections/forecast for revenue (2024 – 2034)
• Data breakdown for every Industry segment (2024 – 2034)
• Gross margin and profitability analysis of companies
• Business trend and expansion analysis
• Competition analysis/market share
• Product Innovation Listing
• Client list and case studies
• Market entry strategy

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About Market Decipher

Market Decipher is a market research and consultancy wing of Decipher Market Insights, involved in provision of market reports to organisations of varied sizes; small, large and medium. At Market Decipher, we concentrate on articulating relevant business policies conditional to the specific market domain for a sustainable growth. The services provided by us include syndicated research and custom research.

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SOURCE Market Decipher