South America Paints And Coatings Market Size (2024 - 2029)

The South America paints and coatings market is projected to experience growth over the forecast period, driven by the expanding construction industry and rising demand from the automotive sector. Despite the initial negative impact of the COVID-19 pandemic, which led to a decline in production and supply chain disruptions, the market has since recovered to pre-pandemic levels and is expected to grow at a moderate pace. The architectural sector remains the dominant end-user, while increasing interest in bio-based paints and coatings, along with the aerospace sector's growth, presents further opportunities. However, stringent regulations regarding VOC-free materials may pose challenges to market expansion.

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Market Size of South America Paints And Coatings Industry

South America Paints And Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 6.23 Billion
Market Size (2029) USD 8.04 Billion
CAGR (2024 - 2029) 5.00 %
Market Concentration Medium

Major Players

South America Paints and Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

South America Paints and Coatings Market Analysis

The South America Paints And Coatings Market size is estimated at USD 6.23 billion in 2024, and is expected to reach USD 8.04 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The COVID-19 pandemic negatively impacted the South American paints and coatings industry. Following the initial impact, the industry has experienced a decline in demand due to the shutdown of numerous factories and construction sites. Consequently, paint and coating production declined and disrupted the supply chain. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow at a moderate pace in the coming years.

  • Major factors driving the market studied are the growing construction industry in the region and the increasing demand from the automotive sector.
  • It is anticipated that stringent regulations on using VOC-free materials are expected to hinder market growth.
  • The increasing demand for bio-based paints and coatings and the growing presence of the aerospace sector in the region are expected to provide growth opportunities in the market.
  • The architectural sector dominated the end-user segment of the market in South America.

South America Paints and Coatings Industry Segmentation

Paints and coatings are thin layers of substance added to a surface to protect, beautify, or improve its usefulness. Paints are usually aqueous solutions, while coatings are often applied using solvent-based systems. In most cases, a brush, scraper, and sprinkler are used to apply them. The major raw materials utilized in producing paints and coatings are resins, pigments, solvents, and other materials.

The market is segmented by resin type, technology, end-user industry, and geography. By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types (polypropylene, etc.). By technology, the market is segmented into water-borne, solvent-borne, powder, and UV-cured coating. By end-user industry, the market is segmented into architectural, automotive, wood, industrial, and other end-user industries. The report also covers the market size and forecasts for the market in 5 countries across the region.

For each segment, the market sizing and forecasts have been done on the basis of value (USD).

Resin Type
Acrylics
Epoxy
Alkyd
Polyester
Polyurethane
Other Resin Types (Polypropylene, Etc.)
Technology
Water-borne
Solvent-borne
Powder Coating
UV-cured Coating
End-User Industry
Architectural
Automotive
Wood
Industrial
Other End-user Industries
Geography
Brazil
Argentina
Colombia
Chile
Peru
Rest of South America
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South America Paints And Coatings Market Size Summary

The South America paints and coatings market is poised for growth, driven by the resurgence of the construction and automotive sectors in the region. After experiencing a downturn due to the COVID-19 pandemic, the industry has rebounded to pre-pandemic levels and is expected to expand steadily over the forecast period. The architectural segment remains the largest end-user, with coatings used extensively in commercial and residential buildings to provide protection and aesthetic appeal. Brazil, in particular, is a key player in the market, benefiting from significant investments in infrastructure and a robust automotive industry. The country's focus on electric vehicles and the ongoing development of affordable housing are expected to further stimulate demand for paints and coatings.

Despite the positive outlook, the market faces challenges such as stringent regulations on VOC emissions, which could impede growth. However, opportunities lie in the increasing demand for bio-based products and the expanding aerospace sector. The market is partially consolidated, with major companies like PPG Industries, Akzo Nobel, and Jotun playing significant roles. Recent strategic moves, such as Akzo Nobel's acquisition of Grupo Orbis, highlight the competitive landscape and the ongoing efforts to strengthen market presence. As the region continues to evolve, the paints and coatings industry is set to benefit from the dynamic developments in construction, infrastructure, and automotive sectors.

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South America Paints And Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Construction Industry in the Region

      2. 1.1.2 Increasing Applications and Usage in the Automotive Sector

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Stringent Environmental Regulations Related to VOC-Emissions

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Acrylics

      2. 2.1.2 Epoxy

      3. 2.1.3 Alkyd

      4. 2.1.4 Polyester

      5. 2.1.5 Polyurethane

      6. 2.1.6 Other Resin Types (Polypropylene, Etc.)

    2. 2.2 Technology

      1. 2.2.1 Water-borne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Powder Coating

      4. 2.2.4 UV-cured Coating

    3. 2.3 End-User Industry

      1. 2.3.1 Architectural

      2. 2.3.2 Automotive

      3. 2.3.3 Wood

      4. 2.3.4 Industrial

      5. 2.3.5 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Brazil

      2. 2.4.2 Argentina

      3. 2.4.3 Colombia

      4. 2.4.4 Chile

      5. 2.4.5 Peru

      6. 2.4.6 Rest of South America

South America Paints And Coatings Market Size FAQs

The South America Paints And Coatings Market size is expected to reach USD 6.23 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 8.04 billion by 2029.

In 2024, the South America Paints And Coatings Market size is expected to reach USD 6.23 billion.

South America Paints and Coatings Market Report Snapshots

South America Paints and Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)