Market Size of South America Paints And Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.23 Billion |
| Market Size (2029) | USD 8.04 Billion |
| CAGR (2024 - 2029) | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Paints and Coatings Market Analysis
The South America Paints And Coatings Market size is estimated at USD 6.23 billion in 2024, and is expected to reach USD 8.04 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the South American paints and coatings industry. Following the initial impact, the industry has experienced a decline in demand due to the shutdown of numerous factories and construction sites. Consequently, paint and coating production declined and disrupted the supply chain. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow at a moderate pace in the coming years.
- Major factors driving the market studied are the growing construction industry in the region and the increasing demand from the automotive sector.
- It is anticipated that stringent regulations on using VOC-free materials are expected to hinder market growth.
- The increasing demand for bio-based paints and coatings and the growing presence of the aerospace sector in the region are expected to provide growth opportunities in the market.
- The architectural sector dominated the end-user segment of the market in South America.
