| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| CAGR | 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mexico Protective Coatings Market Analysis
The Mexico Protective Coatings Market is expected to register a CAGR of greater than 4.5% during the forecast period.
- Growing infrastructure and industrialization are expected to drive the country's protective coatings market.
- Changes in the prices of raw materials are likely to slow the growth of the market.
- During the forecast period, the growing demand for powder coatings is likely to give the market a number of chances to grow.
Mexico Protective Coatings Market Trends
Increasing demand from Mexico’s Oil and Gas industry
- Protective coatings offer excellent corrosion resistance, water resistance, and fire resistance. In the oil and gas industry, protective coatings used for chemical resistance and safety protocols play vital roles in avoiding risks related to damage, accidents, and workers' health.
- Mexico is one of the world's largest producers of petroleum and other liquids. The country is the fourth-largest producer of oil and other fluids in the Americas. The country's growth rate in petroleum exploration and production is consistent.
- In 2021, Mexico was ranked 12th in the world for its crude oil production, 21st for its crude oil reserves, 16th for its ability to refine oil, and 5th for its logistics infrastructure.
- Also, Mexico is one of the biggest suppliers of oil to the U.S., which could lead to more protective coatings being used in the area.For instance, in 2021, Mexico exported 212 million barrels of heavy crude oil to the United States.
- In March 2021, Mexico's PEMEX announced that it had discovered over 1.2 billion BOE of oil and natural gas in an onshore complex in Tabasco. It is further expected to boost the country's oil and gas industry.
- All the factors listed above are expected to drive the country's protective coatings market.
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The infrastructure segment dominates the market
- Protective coatings applied to steel, which is commonly used for civil structures such as stadiums, transportation hubs, and public buildings, are the backbone of modern cities. Corrosion protection of steel bridges is important to maintain both structural performance and aesthetics over time, with protective coatings being the most common form of corrosion protection.
- In Mexico, infrastructure is one of the fastest-growing segments. Over the last five decades, Mexico has urbanized faster than the majority of OECD (Organization for Economic Co-operation and Development) countries. The growing infrastructure and manufacturing hubs lead to an increase in employment in the country, which, as a result, increases the need for the construction of buildings and residential homes.
- In 2021, the Ministry of Infrastructure, Communications, and Transportation (SICT) announced a USD 2.43 million infrastructure project as part of the expansion of the Lecheria-AIFA Suburban Train to build a second vehicular bridge.
- Similarly, in 2022, Mexico City's Water System (SACMEX) and National Water Commission (CONAGUA) are to launch national tenders to revamp and construct water infrastructure. These projects include the restoration of 17 wells, 24-hour monitoring of wells, and the installation of 18 permanent and 32 additional water pumps.
Taking all of these things into account, it seems likely that the demand for protective coatings will rise during the forecast period.
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Mexico Protective Coatings Industry Overview
The Mexico protective coatings market is fragmented in nature. Some of the major players in the market include (not in any particular order) Axalta Coating Systems, BASF SE, Akzo Nobel N.V., PPG Industries, Inc., and The Sherwin-Williams Company, among others.
Mexico Protective Coatings Market Leaders
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Axalta Coatings System
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Akzo Nobel N.V.
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BASF SE
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PPG Industries, Inc
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The Sherwin-Williams Company
- *Disclaimer: Major Players sorted in no particular order
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Mexico Protective Coatings Market News
- The recent developments pertaining to the major players in the market are being covered in the complete study.
Mexico Protective Coatings Industry Segmentation
Protective coatings are materials that are applied to the substrate surfaces of steel and concrete structures to protect them from corrosion and environmental damage. The market involves the usage of coatings on new designs as well as the maintenance of existing systems. These structures can include industrial, commercial, and public infrastructure but exclude house buildings and private apartments. The protective coatings market is segmented by end-user industry, technology, and resin type. By end-user industry, the market is segmented into oil and gas, mining, power, infrastructure, and other end-user industries. By technology, the market is segmented into solvent-borne, waterborne, powder, and UV-cured. The market is segmented by resin type: acrylic, epoxy, alkyd, polyurethane, polyester, and others. The report offers market size and forecasts for revenue (USD million) for all the above segments.
| End-user Industry | Oil and Gas |
| Mining | |
| Power | |
| Infrastructure | |
| Other End-user Industries | |
| Technology | Waterborne |
| Solventborne | |
| Powder | |
| UV-Cured | |
| Resin Type | Acrylic |
| Epoxy | |
| Alkyd | |
| Polyurethane | |
| Polyester | |
| Other Resin Types |
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Mexico Protective Coatings Market Research FAQs
What is the current Mexico Protective Coatings Market size?
The Mexico Protective Coatings Market is projected to register a CAGR of greater than 4.5% during the forecast period (2025-2030)
Who are the key players in Mexico Protective Coatings Market?
Axalta Coatings System, Akzo Nobel N.V., BASF SE, PPG Industries, Inc and The Sherwin-Williams Company are the major companies operating in the Mexico Protective Coatings Market.
What years does this Mexico Protective Coatings Market cover?
The report covers the Mexico Protective Coatings Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Mexico Protective Coatings Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Mexico Protective Coatings Industry Report
Statistics for the 2025 Mexico Protective Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Protective Coatings analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
