Global paint and coatings industry market value 2023-2032

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.