Asia Pacific Paints and Coatings Market Growth, Size, Trends, Revenue, Share and Future Outlook
Asia Pacific Paints and Coatings Market Size- By Technology, By Resin Type, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: CHEM2403 | Pages: 1 - 156 | Formats*: |
| Category : Chemical & Materials | |||
Asia Pacific Paints and Coatings Market Introduction and Overview
According to SPER Market Research, the Asia Pacific Paints and Coatings Market is estimated to reach USD 126.42 billion by 2033 with a CAGR of 6.25%.
The report includes an in-depth analysis of the Asia Pacific Paints and Coatings Market, including market size and trends, product mix, distribution channels, and supplier analysis. The decorative (architectural) and industrial paints and coatings industries are the two end use industry types that make up the paint and coatings sector. The decorative paint category, which also includes ancillary products like primers and putties, accounts for nearly 40% of the market. There are multiple subcategories within this category, such as wood finishes, enamels, exterior and interior wall paints. The industrial paint category, which includes a wide range of industries like automotive, marine, packaging, powder, protection, and other general industrial coatings, makes up the remaining 60% of the paint industry. Due to the highly regulated nature of the coatings industry worldwide, manufacturers are obligated to employ low-solvent and solventless technologies.
- October 2022: Asian Paints intended to build a VAE (Vinyl Acetate Ethylene Emulsion) and VAM (Vinyl Acetate Monomer) manufacturing facility in India, which would be utilized in the manufacture of paints and coatings. This facility will be able to process 100,000 tons of VAM and 150,000 tons of VAE annually.
- June 2022: Akzo Nobel NV increased its production capacity in Shanghai, China, to increase its ability to supply water-based texture paints of Dulux products used in interior decoration, architecture, and leisure. The newly constructed space is two thousand square meters.
Market Opportunities and Challenges
Opportunities: The market is expanding due to various factors such as the construction industry's rapid growth and the rising demand for protective coatings in Malaysia. The introduction of environmentally friendly paint and coating resins is probably going to open up significant growth opportunities for the market. Furthermore, the paint and coatings market in Asia Pacific is expanding rapidly due to a number of important factors. First off, the region's fast industrialization and urbanization have boosted both residential and commercial construction. The need for paints and coatings has increased due to the increase in construction since these materials are crucial for preserving and strengthening the longevity of buildings. The expanding automotive sector in nations like China and India has also made a substantial contribution to the market's expansion.
Challenges: The thick and smooth coatings that can be achieved through powder coating are very good. Thin coatings are challenging to make, though. Both the rate and volume of powder application to the substrate are challenging to regulate. Easily concealed surface flaws are by thicker coatings. Due to insufficient pre-treatment, insufficient temperature or curing time, and insufficient powder addition, thinner coatings typically exhibit more orange-peeled textures. These factors hampered the market expansion.
Market Competitive Landscape
The paint and coatings industry in the Asia-Pacific region is extremely fragmented. The main participants are, though not in any specific order, Nippon Paint Holdings Co. Ltd., Asian Paints, Kansai Paint Co., Ltd., Akzo Nobel NV, and PPG Industries Inc.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Technology, By Resin Type, By End User |
| Regions covered | China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Thailand, Malaysia, Vietnam, Philippines, Singapore, Rest of Asia-Pacific |
| Companies Covered | Akzo Nobel NV, Asian Paints, Avian Brands, Axalta Coating Systems, BASF SE, Berger Paints India Limited, Boysen Paints, Davies Paints Philippines Inc., Hempel A/S, Jotun |
COVID-19 Impact on Asia Pacific Paints and Coatings Market
The COVID-19 pandemic had a complex effect on the Asia Pacific Paints and Coatings Market. A temporary decline in the demand for paints and coatings resulted from the severe lockdown measures implemented by several nations to stop the virus's spread. These measures severely disrupted construction activities, both residential and commercial. Manufacturers faced difficulties with production and distribution as a result of the downturn in building projects and supply chain disruptions. The production facilities' temporary closures affected the demand for automotive paints, which in turn affected the automotive sector, which is a major consumer of coatings.
Key Target Audience:
- Construction and Real Estate Industry
- Manufacturing and Industrial Sectors
- Paint and Coatings Manufacturers
- Retailers and Distributors
- Infrastructure and Transportation Sectors
Our in-depth analysis of the Asia Pacific Paints and Coatings Market includes the following segments:
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Key Topics Covered in the Report:
- Asia Pacific Paints and Coatings Market Size (FY’2023-FY’2033)
- Overview of Asia Pacific Paints and Coatings Market
- Segmentation of Asia Pacific Paints and Coatings Market By Technology (Water-borne, Solvent-borne, Powder, Others)
- Segmentation of Asia Pacific Paints and Coatings Market By Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, Others)
- Segmentation of Asia Pacific Paints and Coatings Market By End User (Architectural/Decorative, Automotive, Wood, Protective, General Industries, Transportation, Packaging)
- Expansion Analysis of Asia Pacific Paints and Coatings Market
- Problems and Obstacles in Asia Pacific Paints and Coatings Market
- Competitive Landscape in the Asia Pacific Paints and Coatings Market
- Impact of COVID-19 and Demonetization on Asia Pacific Paints and Coatings Market
- Details on Current Investment in Asia Pacific Paints and Coatings Market
- Competitive Analysis of Asia Pacific Paints and Coatings Market
- Prominent Players in the Asia Pacific Paints and Coatings Market
- SWOT Analysis of Asia Pacific Paints and Coatings Market
- Asia Pacific Paints and Coatings Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Asia Pacific Paints and Coatings Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia Pacific Paints and Coatings Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Paints and Coatings Market
7. Asia Pacific Paints and Coatings Market, By Technology (USD Million)
7.1. Asia Pacific Paints and Coatings Market Value Share and Forecast, By Technology, 2023-20337.2. Water-borne7.3. Solvent-borne7.4. Powder7.5. Others
8. Asia Pacific Paints and Coatings Market, By Resin Type (USD Million)
8.1. Asia Pacific Paints and Coatings Market Value Share and Forecast, By Resin Type, 2023-20338.2. Acrylic8.3. Alkyd8.4. Polyurethane8.5. Epoxy8.6. Polyester8.7. Others
9. Asia Pacific Paints and Coatings Market, By End User (USD Million)
9.1. Asia Pacific Paints and Coatings Market Value Share and Forecast, By End User, 2023-20339.2. Architectural/Decorative9.3. Automotive9.4. Wood9.5. Protective9.6. General Industries9.7. Transportation9.8. Packaging
10. Asia Pacific Paints and Coatings Market Forecast, 2019-2033 (USD Million)
10.1. Asia Pacific Paints and Coatings Market Size and Market Share
11. Asia Pacific Paints and Coatings Market, By Technology, 2019-2033 (USD Million)
11.1. Asia Pacific Paints and Coatings Market Size and Market Share By Technology (2019-2026)11.2. Asia Pacific Paints and Coatings Market Size and Market Share By Technology (2027-2033)
12. Asia Pacific Paints and Coatings Market, By Resin Type, 2019-2033 (USD Million)
12.1. Asia Pacific Paints and Coatings Market Size and Market Share By Resin Type (2019-2026)12.2. Asia Pacific Paints and Coatings Market Size and Market Share By Resin Type (2027-2033)
13. Asia Pacific Paints and Coatings Market, By Region, 2019-2033 (USD Million)
13.1. Asia Pacific Paints and Coatings Market Size and Market Share By Region (2019-2026)13.2. Asia Pacific Paints and Coatings Market Size and Market Share By Region (2027-2033)13.3. China13.4. India13.5. Japan13.6. South Korea13.7. Australia and New Zealand13.8. Indonesia13.9. Thailand13.10. Malaysia13.11. Vietnam13.12. Philippines13.13. Singapore13.14. Rest of Asia-Pacific
14. Company Profile
14.1. Akzo Nobel NV14.1.1. Company details14.1.2. Financial outlook14.1.3. Product summary14.1.4. Recent developments14.2. Asian Paints14.2.1. Company details14.2.2. Financial outlook14.2.3. Product summary14.2.4. Recent developments14.3. Avian Brands14.3.1. Company details14.3.2. Financial outlook14.3.3. Product summary14.3.4. Recent developments14.4. Axalta Coating Systems14.4.1. Company details14.4.2. Financial outlook14.4.3. Product summary14.4.4. Recent developments14.5. BASF SE14.5.1. Company details14.5.2. Financial outlook14.5.3. Product summary14.5.4. Recent developments14.6. Berger Paints India Limited14.6.1. Company details14.6.2. Financial outlook14.6.3. Product summary14.6.4. Recent developments14.7. Boysen Paints14.7.1. Company details14.7.2. Financial outlook14.7.3. Product summary14.7.4. Recent developments14.8. Davies Paints Philippines Inc.14.8.1. Company details14.8.2. Financial outlook14.8.3. Product summary14.8.4. Recent developments14.9. Hempel A/S14.9.1. Company details14.9.2. Financial outlook14.9.3. Product summary14.9.4. Recent developments14.10. Jotun14.10.1. Company details14.10.2. Financial outlook14.10.3. Product summary
14.10.4. Recent developments
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The introduction of environmentally friendly paint and coating resins is probably going to open up significant growth opportunities for the market.
Asia Pacific Paints and Coatings Market is projected to reach USD 126.42 billion by 2033, growing at a CAGR of 6.25% during the forecast period.
Asia Pacific Paints and Coatings Market size from 2022. The Market is expected to reach USD 126.42 billion by 2033, at a CAGR of 6.25% during the forecast period.
Asia Pacific Paints and Coatings Market CAGR of 6.25% during the forecast period.
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Asia Pacific Paints and Coatings Market size is USD 126.42 billion from 2023 to 2033.
Asia Pacific Paints and Coatings Market Segment is covered By Technology, By Resin Type, By End User.
The Asia-Pacific and Africa is anticipated to have the highest market share in the Asia Pacific Paints and Coatings Market.
"The key players in the market include Companies Covered Akzo Nobel NV, Asian Paints, Avian Brands, Axalta Coating Systems, BASF SE, Berger Paints India Limited, Boysen Paints, Davies Paints Philippines Inc., Hempel A/S, Jotun."
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