Asia-Pacific Paints And Coatings Market Size (2024 - 2029)

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 greater than 5% during the forecast period (2024-2029).

Due to the COVID-19 pandemic, nationwide lockdowns disrupted manufacturing activities and supply chains worldwide. However, conditions started changing in 2021, with the growth of the Asia-Pacific paints and coatings market expected to be restored during the forecast period.

• Over the short term, the increasing growth of the construction industry and the rise in demand for protective coatings in Malaysia are some of the factors projected to drive the growth of the market studied.
• However, tightening regulations on VOC emissions is a key factor anticipated to restrain the market's growth over the forecast period.
• Nevertheless, emerging eco-friendly paint and coating resins are expected to create lucrative growth opportunities for the Asia-Pacific market.
• The Chinese paints and coatings market is estimated to witness healthy growth over the forecast period due to the wide usage of paints and coatings in the end-user industry segments.

Asia-Pacific Paints and Coatings Industry Segmentation

Paints or coatings are multiphase colloidal systems applied on the desired surface, primarily for aesthetics and protection. They are a mixture of pigments, binders, liquids, and additives, which can easily be applied on surfaces using a spray or brush. Each ingredient plays a crucial role in defining the properties and performance of paints during or after application. Paints and coatings find major applications in the architectural industry, such as decorative and protective coatings.

The Asia-Pacific paints and coatings market is segmented by technology, resin type, end-user industry, and geography. By technology, the market is segmented into water-borne, solvent-borne, powder, and other technologies (UV/EB, high-solids, etc.). By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types (phenolic, ketonic, and others). By end-user industry, the market is segmented into architectural/decorative, automotive, wood, protective, general industrial, transportation, packaging, and other end-user industries (plastic coatings, agriculture, construction and Earthmoving equipment, and others). The report also covers the market sizes and forecasts for the paints and coatings market in 11 countries across Asia-Pacific. The report offers the market size in value terms (USD) for all the abovementioned segments.