The Latest Paint Industry Statistics Explained
The global paint and coatings industry is estimated to be worth $184.83 billion in 2021.
The statistic indicates the estimated total value of the global paint and coatings industry in the year 2021, which is approximately $184.83 billion. This figure encompasses the sum of all revenues generated from the production, sale, and distribution of paints and coatings worldwide within that year. The industry’s value serves as a key indicator of its economic significance and overall market size, reflecting the demand for paint and coating products across various sectors such as construction, automotive, industrial, and consumer goods. The statistic highlights the substantial scale of the industry and its contribution to the global economy.
It is projected that by the year 2027, the market size of the global paint and coatings industry will reach $249.70 billion.
The statistic indicates a projected growth in the market size of the global paint and coatings industry, estimated to reach $249.70 billion by the year 2027. This forecast suggests a significant expansion in the industry over the coming years, driven by various factors such as increasing urbanization, infrastructure development, and growing construction activities worldwide. The figure serves as a valuable insight for stakeholders in the paint and coatings sector, enabling them to anticipate and strategize for potential market opportunities and challenges ahead. Overall, the statistic reflects a positive outlook for the industry, highlighting the potential for substantial market growth and investment in the foreseeable future.
In 2020, Asia Pacific accounted for 48.9% of the overall revenue share in the industry.
The statistic indicates that in the year 2020, the Asia Pacific region contributed significantly to the total revenue generated within the industry, accounting for 48.9% of the overall revenue share. This suggests that Asia Pacific played a crucial role in the financial performance of the industry during that period. The high revenue share may be attributed to various factors such as strong economic growth, large market size, increasing consumer demand, and significant investments in the region. This statistic highlights the importance of the Asia Pacific market in driving revenue and growth in the industry and demonstrates the region’s impact on the global market landscape.
The global market for decorative paints and coatings is projected to reach a whopping $114 billion by 2026.
The statistic stating that the global market for decorative paints and coatings is projected to reach $114 billion by 2026 signifies a significant growth opportunity in the industry. This projection suggests a substantial increase in demand for decorative paints and coatings worldwide over the next few years. Factors such as rising urbanization, increasing disposable income, and a growing focus on home improvement projects contribute to the anticipated growth in the market. The impressive size of the projected market value indicates a lucrative opportunity for businesses operating in the decorative paints and coatings sector to capitalize on this trend and expand their market share through innovative products, effective marketing strategies, and strategic partnerships to cater to the evolving needs and preferences of consumers.
The paint manufacturing industry in the US has a market size of $27 billion in 2021.
The statistic indicates that the total revenue generated by the paint manufacturing industry in the United States in 2021 amounted to $27 billion. This figure represents the market size of the industry, reflecting the total value of all goods and services produced within the paint manufacturing sector. The market size serves as a key indicator of the industry’s economic activity and significance within the broader economy. The $27 billion market size suggests that the paint manufacturing industry in the US is a substantial and financially significant sector, contributing to overall economic growth and providing insights into the scale of operations and market demand within the industry.
The Global Waterborne Coatings Market, a significant part of the paint industry, was valued at USD 77.75 billion in 2019.
The statistic that states the Global Waterborne Coatings Market was valued at USD 77.75 billion in 2019 provides insight into the substantial economic importance and reach of this specific segment within the paint industry. Waterborne coatings are a type of paint that use water as a solvent instead of traditional chemical solvents, making them more environmentally friendly. The significant market value demonstrates the widespread use and demand for waterborne coatings globally. This market value is indicative of the scale of the industry and the financial impact it has on the overall economy, reflecting the growing shift towards more sustainable and eco-friendly coating solutions.
U.S. paint and coating manufacturing gross output stood at around 27.5 billion U.S. dollars in 2020.
The statistic that the U.S. paint and coating manufacturing gross output was approximately 27.5 billion U.S. dollars in 2020 indicates the total value of goods produced by the paint and coating industry within the United States during that year. This figure reflects the aggregate revenue generated by the sector and encompasses all intermediate and final goods manufactured by paint and coating companies. It serves as a key indicator of the economic activity and size of the industry, highlighting its significance in the national economy and providing insights into the overall market demand for these products.
The paint and coating manufacturing industry is expected to see a 2.6% annual growth from 2021 to 2026.
The statistic stating that the paint and coating manufacturing industry is projected to experience a 2.6% annual growth from 2021 to 2026 indicates a positive trend in the industry’s expansion over the next five years. This growth rate suggests that the demand for paints and coatings is expected to increase steadily during this period, likely driven by factors such as rising construction activities, infrastructure development, and ongoing maintenance needs. The statistic provides valuable insights for businesses operating within the paint and coating manufacturing sector, as it signals potential opportunities for market expansion, investment, and strategic planning to capitalize on the industry’s projected growth trajectory.
Industrial Coatings, a key area of the paint industry, represented 35% of the paint and coatings demand in 2019.
In 2019, industrial coatings accounted for a significant portion of the overall demand for paint and coatings, making up 35% of the industry’s market share. This statistic highlights the substantial impact and importance of industrial coatings within the paint industry, indicating that they are a key area driving market growth and revenue. The strong representation of industrial coatings in the market suggests a high demand for protective, functional, and decorative coatings used in various industrial applications such as manufacturing, construction, automotive, and aerospace sectors. This data underscores the significance of industrial coatings as a crucial segment of the paint industry, influencing market trends and driving innovation and development within the industry.
India’s paint industry has grown at a compounded annual growth rate (CAGR) of approximately 12% in the last decade.
The statistic indicates that the paint industry in India has experienced consistent and significant growth over the past decade, with a compounded annual growth rate (CAGR) of around 12%. This means that on average, the industry’s revenue, production, or other relevant metrics have been increasing by 12% every year over the specified time period. The high CAGR suggests a strong and sustained growth trajectory for the paint industry in India, likely driven by factors such as increasing urbanization, rising disposable incomes, and a growing focus on infrastructure development and construction projects. This growth rate provides valuable insight into the industry’s performance and potential opportunities for investors, businesses, and policymakers to capitalize on the sector’s expansion.
In 2020, the top five companies (AkzoNobel, PPG, Sherwin-Williams, RPM, Valspar) in the global paints and coatings market accounted for over 50% of the total market.
In 2020, the top five companies in the global paints and coatings market, namely AkzoNobel, PPG, Sherwin-Williams, RPM, and Valspar, collectively held a significant portion of the market share, exceeding 50%. This statistic suggests that these companies are the major players in the industry and wield substantial influence over market dynamics, competition, and pricing. The concentration of market share among these top companies indicates that they have a strong competitive advantage, such as brand recognition, economies of scale, distribution networks, and innovative capabilities, which have enabled them to capture a significant share of global sales within the paints and coatings sector. This level of market dominance by the top five companies highlights the competitive landscape and market structure of the paints and coatings industry.
The global powder coatings market was valued at $9.09 billion in 2017 and is anticipated to grow at a CAGR of 6.6% during the forecast period.
This statistic indicates that the global powder coatings market had a value of $9.09 billion in 2017 and is projected to experience a Compound Annual Growth Rate (CAGR) of 6.6% over the specified forecast period. A CAGR of 6.6% suggests a steady and moderate growth rate in the market size year over year. This information is valuable for businesses and investors operating in the powder coatings industry as it provides insights into the market’s current value and expected growth trajectory. Additionally, it highlights the market’s potential for expansion, which could present opportunities for companies to capitalize on the growing demand for powder coatings in various industries.
The demand for eco-friendly, minimally toxic, and volatile organic compound (VOC)-free paints and coatings is expected to experience above-average growth.
The statistic signifies that there is anticipated to be a significant increase in the demand for environmentally friendly paints and coatings that are low in toxicity and free of volatile organic compounds (VOCs). This expectation suggests a growing consumer awareness and preference towards products that are more sustainable and less harmful to human health and the environment. The projected above-average growth in demand implies a shift in the market towards more eco-conscious choices, driven by factors such as increasing environmental regulations, heightened health concerns, and a general societal push for sustainability. As a result, companies in the paint and coatings industry may need to adapt their product offerings to meet this rising demand for eco-friendly and less toxic alternatives.
Between 2015 and 2021, global market demand for paint and coatings grew at a CAGR of around 5%.
This statistic indicates that between the years 2015 and 2021, the global market demand for paint and coatings increased at a Compound Annual Growth Rate (CAGR) of approximately 5%. This suggests that the market for paint and coatings experienced steady growth over the specified period. A CAGR of 5% implies that on average, the demand for paint and coatings increased by 5% annually, taking into account the compounding effect. This growth trend may have been influenced by various factors such as increasing urbanization, infrastructure development, and rising disposable incomes, all of which likely contributed to the higher demand for paint and coatings in different sectors such as construction, automotive, and industrial applications.
As much as 55% of the paint and coatings produced globally are used in Asia.
The statistic that 55% of the paint and coatings produced globally are used in Asia signifies the significant dominance of the Asian market in the consumption of these materials. This statistic highlights the substantial demand for paint and coatings in Asia, potentially driven by rapid industrialization, urbanization, and infrastructure development in countries across the region. With Asia being home to some of the world’s largest economies and populations, the high usage of paint and coatings also reflects the diverse and extensive applications of these products in construction, manufacturing, automotive, and other industries in the region. The statistic underscores the importance of the Asian market for the global paint and coatings industry, emphasizing the opportunities and challenges that come with catering to such a large and dynamic market.
In China, the paint and coating market volume was approximately 20 million metric tons in 2018.
The statistic indicates that in China, the total amount of paint and coating products sold or used in 2018 was approximately 20 million metric tons. This volume provides a measure of the scale and importance of the paint and coating market in China during that year. Such a large volume suggests a significant demand for paint and coating products in various industries and applications within the Chinese market. Understanding the market volume can help stakeholders, such as manufacturers, retailers, and policymakers, make informed decisions regarding production, distribution, regulations, and investments in the paint and coating sector in China.
The Latin America paint and coatings market valued at USD 6.12 billion in 2020.
The statistic indicates that the market for paint and coatings in Latin America was valued at USD 6.12 billion in the year 2020. This demonstrates the total financial worth of paint and coatings products sold in the region during that specific time period. Such a statistic is crucial for understanding the economic significance of the paint and coatings industry in Latin America, as well as providing insights into the overall demand and growth potential of the market. Analyzing this figure can help stakeholders, businesses, and policymakers make informed decisions related to investments, strategic planning, and market expansion opportunities within the region’s paint and coatings sector.
It is estimated that the US paints and coatings industry employs over 270,000 people.
The statistic that the US paints and coatings industry employs over 270,000 people indicates the significant workforce size involved in this sector. This employment figure reflects the diverse roles within the industry, ranging from research and development to manufacturing, sales, marketing, and distribution. The industry’s employment base is not only substantial but also crucial for supporting economic growth and meeting consumer demand for a wide range of paint and coating products. The statistic highlights the industry’s importance in providing job opportunities and contributing to the overall economy through the production and distribution of paints and coatings for various applications.
The paint and coatings industry in the United States shipped over $25 billion worth of goods in 2018.
The statistic stating that the paint and coatings industry in the United States shipped over $25 billion worth of goods in 2018 reflects the total value of products that were transported or delivered by companies within the industry during that year. This figure represents a significant economic contribution from the industry to the overall economy, indicating the scale of production and demand for paint and coatings within the country. Such statistics are crucial for assessing the industry’s growth, market trends, and economic impact, providing valuable insights for policymakers, investors, and stakeholders in the paint and coatings sector.
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