Market Size of Pakistan Paints and Coatings Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 400.82 Million |
| Market Size (2029) | USD 491.90 Million |
| CAGR (2024 - 2029) | 4.18 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pakistan Paint Market Analysis
The Pakistan Paints and Coatings Market size is estimated at USD 400.82 million in 2024, and is expected to reach USD 491.90 million by 2029, growing at a CAGR of 4.18% during the forecast period (2024-2029).
During the outbreak of the COVID-19 outbreak, there was a negative impact on the Pakistan paints and coatings market. The major reason for the decline in Pakistan's paints & coatings included a shortage of raw materials, disruption in the supply chain, and lower demand from professional architecture, automotive, and aerospace industries due to lockdown, travel restrictions, and halt in production.
- Over the short term, the growing demand for paints and coatings from the architectural coatings segment and the furniture market will likely drive the market growth over the forecast period.
- However, fluctuating automotive industry and rising environmental concerns are going to hinder the market.
- Nevertheless, growing infrastructural activities in Pakistan may offer various opportunities for the market over the forecast period.
Pakistan Paint Industry Segmentation
Paint is any pigmented liquid, liquefiable or solid putty composition that, when applied to a substrate in a thin layer, turns into a solid film. It is most often used to protect, color, or provide texture. A coating is a coating that is applied to the surface of an object, usually referred to as a substrate. The purpose of applying a coating can be decorative, functional, or both. Coatings can be applied as liquids, gases, or solids, e.g. powder paints. The Pakistani paints and coatings market is segmented by resin, technology, and end-user industry. On the basis of resin, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. On the basis of technology, the market is segmented into waterborne and solvent-borne. On the basis of end-user industry, the market is segmented into architectural, automotive, wood, industrial coatings, transportation, and packaging. For each segment, the market sizing and forecast have been done based on revenue (in USD million).
| Resin Type | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Epoxy | |
| Polyester | |
| Other Resin Types |
| Technology | |
| Waterborne | |
| Solvent-borne |
| End-user Industry | |
| Architectural | |
| Automotive | |
| Wood | |
| Industrial Coatings | |
| Transportation | |
| Packaging |
Pakistan Paints and Coatings Market Size Summary
The paint industry in Pakistan is poised for growth, driven by increasing demand in the architectural coatings and furniture sectors. Despite the initial setbacks caused by the COVID-19 pandemic, which led to raw material shortages and supply chain disruptions, the market is expected to recover and expand. The construction industry, bolstered by government initiatives and infrastructure investments, plays a significant role in this growth. Acrylic resins, particularly water-based systems, are gaining traction due to their environmental benefits and versatility in applications ranging from residential to commercial projects. These resins are favored for their transparency, colorability, and UV resistance, making them ideal for high-end finishes in various construction settings.
The market landscape is characterized by a few dominant players, including AkzoNobel, Berger Paints Pakistan Limited, Brighto Paints, and Diamond Paints, among others. Recent developments, such as AkzoNobel's establishment of a new manufacturing facility in Faisalabad, highlight the industry's commitment to enhancing production capabilities and competitiveness. Additionally, companies like Gobi's Paints are expanding their reach beyond Pakistan, as evidenced by their entry into the European market. This strategic expansion reflects the growing international presence and ambition of Pakistani paint manufacturers, further contributing to the industry's dynamic growth trajectory.
Pakistan Paints and Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from the Architectural Coatings Segment
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1.1.2 Growth in the Furniture Market
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1.2 Restraints
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1.2.1 Fluctuating Automotive Industry
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1.2.2 Rising Environmental Concerns
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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1.5 Regulatory Policy Analysis
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2. MARKET SEGMENTATION
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2.1 Resin Type
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2.1.1 Acrylic
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2.1.2 Alkyd
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2.1.3 Polyurethane
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2.1.4 Epoxy
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2.1.5 Polyester
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2.1.6 Other Resin Types
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2.2 Technology
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2.2.1 Waterborne
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2.2.2 Solvent-borne
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2.3 End-user Industry
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2.3.1 Architectural
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2.3.2 Automotive
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2.3.3 Wood
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2.3.4 Industrial Coatings
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2.3.5 Transportation
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2.3.6 Packaging
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Pakistan Paints and Coatings Market Size FAQs
How big is the Pakistan Paints and Coatings Market?
The Pakistan Paints and Coatings Market size is expected to reach USD 400.82 million in 2024 and grow at a CAGR of 4.18% to reach USD 491.90 million by 2029.
What is the current Pakistan Paints and Coatings Market size?
In 2024, the Pakistan Paints and Coatings Market size is expected to reach USD 400.82 million.
