Paints and Coatings Market Size

Paints and Coatings Market size is estimated at USD 175.2 billion in 2024 and is projected to reach USD 310.4 billion by the end of 2037, registering around 4.5% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of paints and coatings is assessed at USD 183 billion.

The paints and coatings industry is driven by increased development of technology and a focus on sustainability. As various industries across the globe are trying to work on aesthetic appeal and protection, the demand for value-added coatings is on an upward curve. Opportunities abound in the automotive, infrastructure development, and residential construction sectors, where high-performance coating usage is gaining significance. Also, the trend of using eco-friendly products is impelling manufacturing companies to prepare effective yet safe formulations for the environment.

Government regulations and initiatives also play an important role in boosting market growth. For instance, in February 2022, The Sherwin-Williams Company entered an agreement with the state of North Carolina to extend the manufacturing capacity in Statesville, for which the minimum investment required will be around USD 300 million. Apart from this, several regulations such as the Clean Air Act and EU legislation about volatile organic compounds (VOCs) make a sufficient number of coatings greener, which adds to the growth momentum.