Global Market Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020


  • Published On : Oct-2014 |
  • Pages : 105 Pages |
  • Format :

Paint is any liquid, liquefiable, or mastic composition which when applied to any object in a thin layer, turns or convert to solid film. Paints are commonly used to protect, color and to provide texture to the objects. Paints are available in many colors and types such as watercolor or artificial. Coating is referred to a covering which is applied to the objects with the purpose of decorating or protecting the objects. Coating can be applied to cover the objects partially or completely. Product label on drinks bottles where one side depicts the function of the product and other side has decorative coating in the form of word or images to make the bottles attractive is the best example in current era. Major Industries use thin film coating such as paper, fabric, film, foil or sheet stock to the objects to make it attractive.

Based on end-use, the paints and coatings market is segmented into three categories: architectural and decorative; industrial; and marine. Architectural and decorative paints and coatings can be further segmented into water-based and solvent-based. Similarly, industrial paints and coatings can be further classified into water-based, solvent-based, powder, and UV-based. 

Asia-Pacific leads the global paints and coatings market followed by Europe and North America. In developing countries of Asia-Pacific, Latin America, Eastern Europe and the Middle East, construction of new residential and commercial buildings is at boom and is expected to increase in coming future. Increasing population, growing urbanization and increase in average disposable income are some of the major drivers for the paints and coatings market. 

According to Housing Active, a U.K.-based magazine, publishing in construction and housing domains, the European Union construction market grew a mere 1.4% in 2011 compared to that in 2010 when the economic crisis in the region was at its peak. For the same year, the public component of non-residential construction declined by 2.5%, while civil engineering and rehabilitation and maintenance activities grew by 0.7% and 1.5% respectively. The private component of the non-residential construction segment increased by 1.5% in 2011 compared to 2010. This decline in the construction industry was one of the key reasons for the declined growth rate of the paints and coatings industry in the region.

Asia Pacific was the largest market for paints and coatings in 2013. The increasing population, growing need for houses, and consumer goods and automotives are driving the paints and coatings market in the region. In 2010, China surpassed the U.S. to become the largest passenger car market globally. China has also been focusing on its housing and construction sector due its increasing population. The Chinese government has been inviting public-private partnerships in the recent years for several commercial construction projects in the country. 

The real estate sector has taken a huge leap forward in India in the last decade on account of increasing per capita income in the country. The increasing urbanization and entry of multinational companies in the region has increased corporate construction activities. However, there remains a large untapped market for all these consumer needs which is expected to grow by 2020 and boost the paints and coatings industry in the region. The change of government in India in 2014 has attracted many neighboring countries to develop trade relations with the country, which is expected to positively boost the commerce in the sub-continent. This is expected to propel the growth rate of paints and coatings industry in India between 2014 and 2020.

Apart from the large Asian economies, the smaller ones are also witnessing a spurt in construction activities. According to the Australia and New Zealand Banking Group Limited (ANZ), the implementation of a 10-year economic plan (2011 – 20) in Malaysia known as Economic Transformation Program (ETP) has increased construction activities wherein the private sectors and foreign investors are backed by the government. Similarly, in Philippines, the government announced its public-private partnership strategy in 2010 to facilitate development projects both at local and national levels. In Thailand, after becoming the prime minister, Yingluck Shinawatra announced plans to develop infrastructure in seven years time with an investment of USD 67 billion in 2011.

The global paints and coatings industry has moderate degree of competition; however, the industry is moving towards consolidation through large number of mergers and acquisitions taking place in the recent years. Some of the major paints and coatings companies include AkzoNobel N.V., PPG Industries, The Sherwin-Williams Company, RPM International, Valspar Corporation, and Kansai Paint Company.

The rapid pace of industrial development, growing number of end-use industries, and increasing interest of the global population in architecture are driving the global paints and coatings market. 

There is a large untapped market for the construction industry in the developing countries which has been increasing every year owing to the ever increasing global population. These factors are creating demand for construction materials, including paints and coatings. The growing population and per capita income has been fuelling the demand for consumer goods and automotives, which in turn is boosting industrialization. The use of metals has also increased to a great degree in the last decade. Paints and coatings are mainly used to protect machines and equipment from rusting and corrosion in industries. As for consumer goods, they serve the purpose of keeping corrosion at bay and make products look better. Architectural and decorative paints and coatings are used mainly applied on interior and exterior walls of houses and corporate buildings. Based on their formulation, there are basically two types of architectural and decorative paints and coatings: water-based and solvent-based. Based on type, architectural and decorative paints and coatings paints are mainly classified into emulsions and distempers. Distempers are costlier than emulsions and account for lesser market share as compared to emulsions. 

Industrial paints and coatings are used by several industries, including machinery manufacturing, automotive, and consumer goods. Based on their formulation, industrial paints and coatings can be segmented into four categories: water-based, solvent-based, powder, and UV-based. 

The increasing global population and the growing number of nuclear families escalate the demand for new houses every year, which in turn creates demand for paints and coatings. The increasing market for consumer goods and automobiles is also propelling the growth of the paints and coatings market. 

The global paints and coatings industry has moderate degree of competition; however, the industry is moving towards consolidation through large number of mergers and acquisitions taking place in the recent years. Some of the major paints and coatings companies include AkzoNobel N.V., PPG Industries, The Sherwin-Williams Company, RPM International, Valspar Corporation, and Kansai Paint Company.

Company Profiles:

  • AkzoNobel N.V.
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • RPM International, Inc.
  • Valspar Corporation
  • Kansai Paint Company Limited
  • Axalta Coating Systems
  • Henkel AG & Co., KGaA
  • BASF SE (Badische Anilin- und Soda-Fabrik)
  • Asian Paints Limited
  • Other

Chapter 1 Preface 

1.1 Research Methodology 

1.2 Segments Covered in the Report 

      1.2.1 Product segments 

      1.2.2 Regions covered in the report 

1.3 Assumptions 

Chapter 2 Market Synopsis 

Chapter 3 Porter’s Five Forces Analysis

3.1 Bargaining Power of Buyers

3.2 Bargaining Power of Suppliers

3.3 Threat of New Entrants

3.4 Threat of Substitutes

3.5 Rivalry Within the Industry 

Chapter 4 Industry Overview 

4.1 Introduction 

4.2 Market Drivers 

      4.2.1 Rising infrastructural developments is increasing sales of the paints and coatings market 

      4.2.2 Growth in the end user industries of paints and coatings is contributing to the growth of market 

      4.2.3 Increasing architectural interest in the developing countries is escalating the demand for paints and coatings 

4.3 Impact Analysis for Drivers

4.4 Market Restraints 

      4.4.1 Rising raw material prices is creating obstacles in the growth of paints and coatings market

      4.4.2 Declining percentage of new concrete walls built as exterior of corporate buildings is impacting volume sales of paints and coatings 

4.5 Impact Analysis for Restraints

4.6 Market Opportunities 

      4.6.1 Green coatings technologies offer great opportunity area for the paints and coatings industry

4.7 Market Trends

      4.7.1 Paints and coating companies are focusing on providing additional features to their products

      4.7.2 Paints and coatings industry is witnessing consolidation 

Chapter 5 Market Size and Forecast by Product 

5.1 Architectural and Decorative Paints and Coatings 

      5.1.1 Water-based architectural and decorative paints and coatings 

      5.1.2 Solvent-based architectural and decorative paints and coatings

5.2 Industrial Paints and Coatings 

      5.2.1 Water-based industrial paints and coatings 

      5.2.2 Solvent-based industrial paints and coatings 

      5.2.3 Powder coatings 

      5.2.4 UV-based coatings 

5.3 Marine Paints and Coatings 

Chapter 6 Market Size and Forecast by Region 

6.1 North America 

      6.1.1 Market size by country 

      6.1.2 Market size by products 

      6.1.3 Architectural and decorative paints and coatings 

      6.1.4 Industrial paints and coatings 

6.2 Europe

      6.2.1 Market size by country 

      6.2.2 Market size by product segment 

      6.2.3 Architectural and decorative paints and coatings

      6.2.4 Industrial paints and coatings

6.3 Asia Pacific

      6.3.1 Market size by country 

      6.3.2 Market size by product segment 

      6.3.1 Architectural and decorative paints and coatings 

      6.3.2 Industrial paints and coatings 

6.4 Rest of the World 

      6.4.1 Market size by product segment

      6.4.2 Architectural and decorative paints and coatings

      6.4.3 Industrial paints and coatings 

Chapter 7 Competitive Scenario 

7.1 Competitive Benchmarking 

Chapter 8 Company Profiles 

8.1 AkzoNobel N.V. 

      8.1.1 Company Overview 

      8.1.2 Products and Services 

      8.1.3 Financial Performance 

      8.1.4 Recent Developments

8.2 PPG Industries, Inc. 

      8.2.1 Company Overview 

      8.2.2 Products and Services

      8.2.3 Financial Performance 

      8.2.4 Recent Developments 

8.3 The Sherwin-Williams Company 

      8.3.1 Company Overview 

      8.3.2 Products and Services 

      8.3.3 Financial Performance 

      8.3.4 Recent Developments 

8.4 RPM International, Inc. 

      8.4.1 Company Overview 

      8.4.2 Products and Services

      8.4.3 Financial Performance

      8.4.4 Recent Developments 

8.5 Valspar Corporation 

      8.5.1 Company Overview 

      8.5.2 Products and Services 

      8.5.3 Financial Performance 

      8.5.4 Recent Developments 

8.6 Kansai Paint Company Limited 

      8.6.1 Company Overview 

      8.6.2 Products and Services 

      8.6.3 Financial Performance 

      8.6.4 Recent Developments 

8.7 Axalta Coating Systems 

      8.7.1 Company Overview 

      8.7.2 Products and Services

      8.7.3 Financial Performance 

      8.7.4 Recent Developments 

8.8 Henkel AG & Co., KGaA

      8.8.1 Company Overview 

      8.8.2 Products and Services 

      8.8.3 Financial Performance 

      8.8.4 Recent Developments 

8.9 BASF SE (Badische Anilin- und Soda-Fabrik) 

      8.9.1 Company Overview 

      8.9.2 Products and Services 

      8.9.3 Financial Performance 

      8.9.4 Recent Developments 

8.10 Asian Paints Limited 

      8.10.1 Company Overview 

      8.10.2 Products and Services 

      8.10.3 Financial Performance 

      8.10.4 Recent Developments


List of Tables

TABLE 1 Snapshot - Global market for paints and coatings, 2013 and 2020 

TABLE 2 Drivers for paints and coatings market: Impact analysis 

TABLE 1 Restraints for paints and coatings market: Impact analysis 

TABLE 2 Global paints and coatings market size, by product segment, 2010 – 2013 (million tons) 

TABLE 3 Global paints and coatings market size, by product segment, 2014 – 2020 (million tons)

TABLE 4 Global paints and coatings market size, by product segment, 2010 – 2013 (USD million)

TABLE 5 Global paints and coatings market size, by product segment, 2014 – 2020 (USD million)

TABLE 6 Global architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (million tons)

TABLE 7 Global architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (million tons)

TABLE 8 Global architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (USD million) 

TABLE 9 Global architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 10 Global industrial paints and coatings market size, by product segment, 2010 – 2013 (million tons) 

TABLE 11 Global industrial paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 12 Global industrial paints and coatings market size, by product segment, 2010 – 2013 (USD million) 

TABLE 13 Global industrial paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 14 North America paints and coatings market size, by country, 2010 – 2013 (million tons) 

TABLE 15 North America paints and coatings market size, by country, 2014 – 2020 (million tons) 

TABLE 16 North America paints and coatings market size, by country, 2010 – 2013 (USD million)

TABLE 17 North America paints and coatings market size, by country, 2014 – 2020 (USD million)

TABLE 18 North America paints and coatings market size, by product segment, 2010 – 2013 (million tons)

TABLE 19 North America paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 20 North America paints and coatings market size, by product segment, 2010 – 2013 (USD million)

TABLE 21 North America paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 22 North America architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (million tons)

TABLE 23 North America architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (million tons)

TABLE 24 North America architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (USD million)

TABLE 25 North America architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (USD million)

TABLE 26 North America industrial paints and coatings market size, by product segment, 2010 – 2013 (million tons)

TABLE 27 North America industrial paints and coatings market size, by product segment, 2014 – 2020 (million tons)

TABLE 28 North America industrial paints and coatings market size, by product segment, 2010 – 2013 (USD million)

TABLE 29 North America industrial paints and coatings market size, by product segment, 2014 – 2020 (USD million)

TABLE 30 Europe paints and coatings market size, by country, 2010 – 2013 (million tons) 

TABLE 31 Europe paints and coatings market size, by country, 2014 – 2020 (million tons) 

TABLE 32 Europe paints and coatings market size, by country, 2010 – 2013 (USD million)

TABLE 33 Europe paints and coatings market size, by country, 2014 – 2020 (USD million)

TABLE 34 Europe paints and coatings market size, by product segment, 2010 – 2013 (million tons) 

TABLE 35 Europe paints and coatings market size, by, by product segment, 2014 – 2020 (million tons) 

TABLE 36 Europe paints and coatings market size, by product segment, 2010 – 2013 (USD million) 

TABLE 37 Europe paints and coatings market size, by, by product segment, 2014 – 2020 (USD million) 51

TABLE 38 Europe architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (million tons) 

TABLE 39 Europe architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 40 Europe architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (USD million) 

TABLE 41 Europe architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 42 Europe industrial paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 43 Europe industrial paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 44 Europe industrial paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 45 Europe industrial paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 46 Asia Pacific paints and coatings market size, by country, 2010 – 2013 (million tons)

TABLE 47 Asia Pacific paints and coatings market size, by country, 2014 – 2020 (million tons) 

TABLE 48 Asia Pacific paints and coatings market size, by country, 2010 – 2013 (USD million) 

TABLE 49 Asia Pacific paints and coatings market size, by country, 2014 – 2020 (USD million) 

TABLE 50 Asia Pacific paints and coatings market size, by product segment, 2010 – 2013 (million tons) 

TABLE 51 Asia Pacific paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 52 Asia Pacific paints and coatings market size, by product segment, 2010 – 2013 (USD million)

TABLE 53 Asia Pacific paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 54 Asia Pacific architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (million tons)

TABLE 55 Asia Pacific architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (million tons)

TABLE 56 Asia Pacific architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (USD million) 

TABLE 57 Asia Pacific architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (USD million)

TABLE 58 Asia Pacific industrial paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 59 Asia Pacific industrial paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 60 Asia Pacific industrial paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 61 Asia Pacific industrial paints and coatings market size, by product segment, 2014 – 2020 (USD million)

TABLE 62 Rest of the World paints and coatings market size, by product segment, 2010 – 2013 (million tons) 

TABLE 63 Rest of the World paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 64 Rest of the World paints and coatings market size, by product segment, 2010 – 2013 (USD million) 

TABLE 65 Rest of the World paints and coatings market size, by product segment, 2014 – 2020 (USD million)

TABLE 66 Rest of the World architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (million tons) 

TABLE 67 Rest of the World architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (million tons) 

TABLE 68 Rest of the World architectural and decorative paints and coatings market size, by product segment, 2010 – 2013 (USD million) 

TABLE 69 Rest of the World architectural and decorative paints and coatings market size, by product segment, 2014 – 2020 (USD million) 

TABLE 70 Rest of the World industrial paints and coatings market size, by product segment, 2014 – 2020 (million tons)

TABLE 71 Rest of the World industrial paints and coatings market size, by product segment, 2014 – 2020 (million tons)

TABLE 72 Rest of the World industrial paints and coatings market size, by product segment, 2014 – 2020 (USD million)

TABLE 73 Rest of the World industrial paints and coatings market size, by product segment, 2014 – 2020 (USD million)

TABLE 74 AkzoNobel paints and coatings brands

TABLE 75 PPG paints and coatings brands, by application area

TABLE 76 The Sherwin-Williams Company paints and coatings brands and business segments 

TABLE 77 RPM International paints and coatings brands 

TABLE 78 Key financials of Kansai, 2011 – 2013 (JPY Million) 

TABLE 79 Axalta coatings brands

TABLE 80 Key financials of Henkel, 2011 – 2013 (EUR Million)

TABLE 81 Asian Paints paints and coatings brands

TABLE 82 Key financials of Asian Paints, 2011 – 2013 (INR Million)


List of Figures 

FIG. 1 Paints and coatings market: Porter’s five forces analysis

FIG. 2 Global motor vehicle production, 2010 – 2013 (millions)

FIG. 3 Water-based architectural and decorative paints and coatings market growth, 2010 – 2013 (by value and volume) 

FIG. 4 Water-based architectural and decorative paints and coatings market growth, 2014 – 2020 (by value and volume) 

FIG. 5 Solvent-based architectural and decorative paints and coatings market growth, 2010 – 2013 (by value and volume) 

FIG. 6 Solvent-based architectural and decorative paints and coatings market growth, 2014 – 2020 (by value and volume) 

FIG. 7 Global paints and coatings market size, by region, 2010 – 2020 (USD million) 

FIG. 8 Revenue of various industrial sectors in the U.S., 2010 – 2013 (USD billion) 

FIG. 9 Competitive positioning of paints and coatings product segments across different regions 

FIG. 10 Competitive positioning of architectural and decorative paints and coatings product segments across different regions 

FIG. 11 Competitive positioning of industrial paints and coatings product segments across different regions

FIG. 12 Net revenue and net income of AkzoNobel, 2011 – 2013 (USD million)

FIG. 13 Net sales and net income of PPG, 2011 – 2013 (USD million)

FIG. 14 Net sales and net income of The Sherwin-Williams Company, 2011 – 2013 (USD million)

FIG. 15 Net sales and net income of RPM International, 2011 – 2013 (USD million)

FIG. 16 Net sales and net income of Valspar, 2011 – 2013 (USD million)

FIG. 17 Net sales and net income of Kansai, 2011 – 2013 (USD million) 91

FIG. 18 Net sales and net income of E. I. du Pont de Nemours and Company, 2011 – 2013 (USD million)

FIG. 19 Net sales and net income of Henkel, 2011 – 2013 (USD million) 

FIG. 20 Net sales and net income of BASF, 2011 – 2013 (USD billion) 

FIG. 21 Net revenue and net profit of Asian Paints, 2011 – 2013 (USD million)

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