Market Size of Paints and Coatings Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 153.36 Billion |
| Market Size (2029) | USD 187.39 Billion |
| CAGR (2024 - 2029) | 4.09 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Paints & Coatings Market Analysis
The Paints and Coatings Market size is estimated at USD 153.36 billion in 2024, and is expected to reach USD 187.39 billion by 2029, growing at a CAGR of 4.09% during the forecast period (2024-2029).
The COVID-19 pandemic had a negative impact on the paints and coatings market. However, the market has now been estimated to have reached pre-pandemic levels.
- In the short term, the major factors driving the market studied are rapidly increasing construction activities, growth in the furniture market, and diversification of oil and other industries in the Middle East.
- Rising VOC concerns are expected to hinder the growth of the market studied.
- Architectural coatings dominated the market, and the segment is expected to grow during the forecast period, owing to the increasing construction activities across the world.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China, India, and Japan.
