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Report
Asia-Pacific Paints & Coating Market By Technology (Water-borne, Solvent-borne, Powder, and Others), By Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), By End-User Industry (Architectural/Decorative, Automotive, Wood, Protective, General Industrial, Transportation, and Packaging), By Country, Competition, Forecast and Opportunities, 2020-2030F
Market Report I 2025-05-23 I 123 Pages I TechSci Research
Market Overview
The Asia-Pacific Paints & Coating Market was valued at USD 60.15 billion in 2024 and is projected to reach USD 93.40 billion by 2030, growing at a CAGR of 7.45% during the forecast period. Market growth is fueled by accelerated urbanization, infrastructure development, and industrial expansion in countries such as China, India, Japan, and across Southeast Asia. Rising construction activities in both residential and commercial segments are significantly increasing the demand for decorative and protective coatings. Furthermore, a growing shift toward eco-friendly, water-based products-driven by environmental awareness, stricter regulations, and the adoption of green building norms-is reshaping product innovation and formulation strategies. Governments in the region are introducing VOC emission regulations, prompting manufacturers to focus on sustainable and high-performance coatings. This regulatory push, combined with smart city initiatives and infrastructure modernization, is driving advancements in product durability, environmental safety, and functional performance, supporting robust growth in the regional paints and coatings industry.
Key Market Drivers
Rapid Urbanization and Infrastructure Growth
The Asia-Pacific region is undergoing swift urban development, especially in countries like China, India, Indonesia, and Vietnam, which is significantly boosting demand for paints and coatings across both new construction and refurbishment projects. As of 2024, over 55% of the population resides in urban areas-a figure expected to climb to nearly 65% by 2030. Governments are actively investing in smart city development and infrastructure enhancements, including housing, commercial buildings, bridges, airports, and metro systems. In India, for example, more than 100 smart city projects are progressing, stimulating the need for protective coatings on steel, concrete, and wooden surfaces. Around 20 million new residential units are also being constructed annually, contributing to increased consumption of both interior and exterior coatings. Maintenance activities for public infrastructure, growing at an estimated 10% per year, are also driving recurring demand. Paints and coatings are now essential not only for aesthetic purposes but also for protecting structures against environmental damage. This rising need has prompted manufacturers to scale up production capacities across Southeast Asia, establishing urban and infrastructure growth as a key market driver.
Key Market Challenges
Fluctuating Raw Material Prices
The volatility in raw material costs remains a major challenge for the Asia-Pacific paints and coatings market. Essential inputs such as titanium dioxide, resins, acrylics, and solvents are subject to frequent price fluctuations driven by crude oil market dynamics, geopolitical instability, and global supply chain constraints. As many countries in the region, including India and Vietnam, rely on imports for these materials, any disruption significantly impacts production costs. Titanium dioxide alone can constitute up to a quarter of the cost in decorative coatings, and its price has seen considerable variability due to mining and refining issues worldwide. These unpredictable costs compress profit margins, especially for smaller manufacturers who struggle to pass on increases to price-sensitive consumers. Even larger companies, constrained by long-term contracts, face challenges in adjusting pricing rapidly. Consequently, the instability in raw material pricing adds complexity to production planning, procurement, and competitive positioning within the market.
Key Market Trends
Surge in Demand from Infrastructure and Smart City Projects
Infrastructure development and smart city initiatives are emerging as dominant trends influencing the paints and coatings market across Asia-Pacific. Countries such as India, China, and Indonesia are investing heavily in public infrastructure, including transport systems, urban housing, and civic amenities. Projects like India's Smart Cities Mission and China's Belt and Road Initiative are contributing to large-scale demand for specialty coatings used in tunnels, bridges, high-rises, and public facilities. These infrastructure-related coatings require advanced properties such as self-cleaning, heat reflectivity, anti-graffiti, and corrosion resistance to withstand environmental stress and ensure long-term durability. As a result, manufacturers are innovating to develop products that offer both functional performance and regulatory compliance. These coatings are becoming integral to modern infrastructure, reinforcing this trend as a major growth catalyst for the industry.
Key Market Players
- Kansai Paint Co. Ltd
- Nippon Paint Holdings Co. Ltd
- Asian Paints Ltd
- Avian Brands
- Shalimar Paints Limited
- Berger Paints India Limited
- Chugoku Marine Paints Ltd
- PPG Industries, Inc.
- Akzo Nobel N.V
Report Scope:
In this report, the Asia-Pacific Paints & Coating Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Asia-Pacific Paints & Coating Market, By Technology:
o Water-borne
o Solvent-borne
o Powder
o Others
- Asia-Pacific Paints & Coating Market, By Resin Type:
o Acrylic
o Alkyd
o Polyurethane
o Epoxy
o Polyester
o Others
- Asia-Pacific Paints & Coating Market, By End-User Industry:
o Architectural/Decorative
o Automotive
o Wood
o Protective
o General Industrial
o Transportation
o Packaging
- Asia-Pacific Paints & Coating Market, By Country:
o China
o Japan
o India
o South Korea
o Australia
o Singapore
o Thailand
o Malaysia
o Rest of Asia-Pacific
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Asia-Pacific Paints & Coating Market.
Available Customizations:
Asia-Pacific Paints & Coating Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Asia-Pacific Paints & Coating Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Technology (Water-borne, Solvent-borne, Powder, and Others)
5.2.2. By Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others)
5.2.3. By End-User Industry (Architectural/Decorative, Automotive, Wood, Protective, General Industrial, Transportation, and Packaging)
5.2.4. By Country (China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Rest of Asia-Pacific)
5.3. By Company (2024)
5.4. Market Map
6. China Paints & Coating Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Technology
6.2.2. By Resin Type
6.2.3. By End-User Industry
7. Japan Paints & Coating Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Technology
7.2.2. By Resin Type
7.2.3. By End-User Industry
8. India Paints & Coating Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Technology
8.2.2. By Resin Type
8.2.3. By End-User Industry
9. South Korea Paints & Coating Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Technology
9.2.2. By Resin Type
9.2.3. By End-User Industry
10. Australia Paints & Coating Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Technology
10.2.2. By Resin Type
10.2.3. By End-User Industry
11. Singapore Paints & Coating Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Technology
11.2.2. By Resin Type
11.2.3. By End-User Industry
12. Thailand Paints & Coating Market Outlook
12.1. Market Size & Forecast
12.1.1. By Value
12.2. Market Share & Forecast
12.2.1. By Technology
12.2.2. By Resin Type
12.2.3. By End-User Industry
13. Malaysia Paints & Coating Market Outlook
13.1. Market Size & Forecast
13.1.1. By Value
13.2. Market Share & Forecast
13.2.1. By Technology
13.2.2. By Resin Type
13.2.3. By End-User Industry
14. Market Dynamics
14.1. Drivers
14.2. Challenges
15. Market Trends and Developments
15.1. Merger & Acquisition (If Any)
15.2. Product Launches (If Any)
15.3. Recent Developments
16. Company Profiles
16.1. Kansai Paint Co. Ltd
16.1.1. Business Overview
16.1.2. Key Revenue and Financials
16.1.3. Recent Developments
16.1.4. Key Personnel
16.1.5. Key Product/Services Offered
16.2. Nippon Paint Holdings Co. Ltd
16.3. Asian Paints Ltd
16.4. Avian Brands
16.5. Shalimar Paints Limited
16.6. Berger Paints India Limited
16.7. Chugoku Marine Paints Ltd
16.8. PPG Industries, Inc.
16.9. Akzo Nobel N.V
17. Strategic Recommendations
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