Paints and Coatings Industry Growth to Reach USD 229.9 Billion by 2031, Fueled by Urbanization and Sustainable Products | Mordor Intelligence

The global paints and coatings industry is estimated at USD 192.46 billion, with forecasts projecting USD 229.9 billion by 2031. Factors driving this growth include increased urbanization, infrastructure investments, and stricter environmental regulations encouraging low-VOC coatings. As the Paints and Coatings Market expands, suppliers are optimizing production with digital color-matching, plant scheduling, and quality-control processes. 

Paints And Coatings Market Size & Developments 

Water-Borne Coatings Driven by Low VOC Compliance

Water-borne coatings are gaining strong market preference due to their low volatile organic compound (VOC) emissions and alignment with strict environmental regulations. Industries are increasingly shifting toward eco-friendly coating technologies that reduce air pollution while maintaining performance, durability, and application efficiency

Growth in Residential and Commercial Construction

Expanding residential housing projects and commercial infrastructure development are significantly boosting demand for architectural coatings. Urbanization, renovation activities, and smart-building initiatives are driving the need for protective and decorative coatings that enhance aesthetics, durability, and energy efficiency in modern construction.

Automotive Production Supporting Industrial Coatings Demand

Rising global automotive production is contributing to higher consumption of industrial coatings used for corrosion protection, surface finishing, and performance enhancement. Increasing vehicle manufacturing, along with advancements in electric vehicles and lightweight materials, is encouraging the adoption of high-performance coating solutions across automotive production lines.

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Paints And Coatings Market Segmentation 

Resin: Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, Other Resin Types 

Technology: Water-borne, Solvent-borne, Powder Coating, UV-cured Coating 

End-user Industry: Architectural, Automotive, Wood, Protective Coating, General Industrial, Transportation,Packaging 

Geography: 

• Asia-Pacific: China (Including Taiwan), India, Japan, Indonesia, Australia and New Zealand, South Korea,Thailand, Malaysia, Philippines, Bangladesh, Vietnam, Singapore, Sri Lanka, Rest of Asia-Pacific 
• North America: United States, Canada, Mexico 
• Europe: Germany, United Kingdom, France, Italy, Benelux, Russia, Turkey, Switzerland, Scandinavian Countries, Poland, Portugal, Spain, Rest of Europe 
• South America: Brazil, Argentina, Colombia, Chile, Rest of South America 
• Middle-East: Saudi Arabia, Qatar, United Arab Emirates, Kuwait, Egypt, Rest of Middle East 
• Africa: South Africa, Nigeria, Algeria, Morocco, Rest of Africa 

Paints and Coatings Companies 

• The Sherwin-Williams Company 
• Nippon Paint Holdings Co., Ltd. 
• PPG Industries, Inc. 
• BASF 
• Akzo Nobel N.V. 

Dominating Country 

China leads the global Paints And Coatings Market, accounting for the largest regional share in 2025. High urban migration, large-scale infrastructure projects, and industrial expansion drive consistent demand for architectural and protective coatings. Local manufacturers are scaling production of water-borne acrylics, polysiloxanes, and other hybrid systems to meet both domestic and export demand. Government-backed housing and urban development programs further strengthen growth, positioning China as the key hub of global market expansion through 2031. 

Conclusion 

In conclusion, the paints and coatings market continues to expand steadily, driven by rising demand across residential, automotive, and industrial sectors. Sustainability trends, low-VOC formulations, and advanced coating technologies are shaping the market’s future, while regional growth, particularly in Asia-Pacific, reinforces the industry’s global potential. As manufacturers adapt to evolving regulations and consumer preferences, the paints and coatings industry is well-positioned for consistent growth and innovation. 

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