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 5.10% during the forecast period (2024-2029).

Due to the COVID-19 outbreak, nationwide lockdowns across the world resulted in disruption in manufacturing activities and supply chains. However, the conditions started changing in 2021, restoring the market's growth during the forecast period.

• Over the short term, the accelerating growth of the construction industry and increasing demand for protective coatings in Malaysia are some of the factors driving the growth of the market.
• However, tightening regulations on VOC emissions is a key factor anticipated to restrain the growth of the market over the forecast period.
• Nevertheless, the emergence of eco-friendly paint and coating resins is likely to create lucrative growth opportunities for the global market.
• China is estimated to witness healthy growth over the assessment period in the Asia-Pacific paints and coatings market due to the wide usage of paints and coatings in the end-user industry segment.

Asia Pacific Paints and Coatings Industry Segmentation

Paints or coatings are the 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 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. By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. By end-user industry, the market is segmented into architectural/decorative, automotive, wood, protective, general industries, transportation, and packaging. The report also covers the market size and forecasts for the paints and coatings market in 11 countries across the Asia-Pacific region. For each segment, the market sizing and forecasts are based on USD million revenue.