Market Size of Asia-Pacific Paints and Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 77.35 Billion |
| Market Size (2029) | USD 99.20 Billion |
| CAGR (2024 - 2029) | 5.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Paints and Coatings Market Analysis
The Asia-Pacific Paints and Coatings Market size is estimated at USD 77.35 billion in 2024, and is expected to reach USD 99.20 billion by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns across the world resulted in disruption in manufacturing activities and supply chains. However, the conditions started changing in 2021, restoring the market's growth during the forecast period.
- Over the short term, the accelerating growth of the construction industry and increasing demand for protective coatings in Malaysia are some of the factors driving the growth of the market.
- However, tightening regulations on VOC emissions is a key factor anticipated to restrain the growth of the market over the forecast period.
- Nevertheless, the emergence of eco-friendly paint and coating resins is likely to create lucrative growth opportunities for the global market.
- China is estimated to witness healthy growth over the assessment period in the Asia-Pacific paints and coatings market due to the wide usage of paints and coatings in the end-user industry segment.
