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Report
Mexico Paints and Coatings Market Report and Forecast 2023-2028
Market Report I 2023-10-13 I 164 Pages I EMR Inc.
Mexico Paints and Coatings Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the Mexico paints and coatings market reached a value of USD 2.48 billion in 2022. Aided by the thriving construction sector, increasing urbanisation, and the evolution of user-friendly application methods, the market is projected to further grow at a CAGR of 4.78% between 2023 and 2028 to reach a value of USD 4.31 billion by 2028.
Paints and coatings represent a blend of resins, solvents, pigments, and various additives, which are applied on surfaces to decorate and protect them from environmental factors. They have seen widespread usage across residential, industrial, and commercial sectors in Mexico. Given the country's vibrant culture, paints also resonate with Mexico's architectural aesthetics, underpinning its towns and cities with a kaleidoscope of colours.
A significant driver for Mexico paints and coatings market growth is the burgeoning construction industry. As urban centres expand and housing demand rises, there's a concurrent uptick in the demand for paints and coatings to cater to new projects. Moreover, renovation and refurbishing activities of historical and residential structures further accentuate this demand.
Furthermore, the surge in awareness regarding eco-friendly products has steered the industry towards the development of sustainable paints and coatings, propelling the Mexico paints and coatings market demand. With consumers becoming increasingly eco-conscious, there is a growing preference for water-based, low-VOC (volatile organic compounds), and other green variants that have minimal environmental impact.
Technological advancements have brought about paints and coatings that are not just decorative but functional. For instance, the emergence of insulative paints, which help in maintaining indoor temperatures, or anti-microbial coatings that offer added protection in healthcare settings, are gaining traction in the paints and coatings market.
The automotive and aerospace sectors in Mexico also add impetus to the paints and coatings industry. With Mexico being a hub for automobile manufacturing, the need for high-quality, durable coatings for vehicles cannot be understated. Such coatings not only enhance a vehicle's aesthetic appeal but also provide crucial protection against rust, UV radiation, and other deteriorative factors.
Research and initiatives are proving crucial in the evolution of the Mexico paints and coatings market outlook. The focus is on developing products that are easy to apply, dry faster, and offer longevity. Additionally, user-friendly application tools and methods are making DIY paint jobs more accessible to the average consumer, thus augmenting market growth.
Market Segmentation
The market can be divided based on resin type, technology, application, and region.
Market Breakup by Resin Type
- Acrylic
- Alkyd
- Epoxy
- Polyester
- Vinyl
- Polyurethane
- Others
Market Breakup by Technology
- Powder Based
- Water-Borne
- Solvent-Borne
- Others
Market Breakup by Application
- Architectural
- Industrial
o General Industrial
o Automotive and Transportation
o Wood
o Aerospace and Marine
o Protective
o Others
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajio
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Mexico paints and coatings market. Some of the major players explored in the report by Expert Market Research are as follows:
- PPG Industries, Inc
- Akzo Nobel N.V.
- Benjamin Moore & Co.
- Jotun
- Axalta Coating Systems
- Nippon Paint Holdings Co., Ltd.
- BASF SE
- WEG SA
- PINTURAS OSEL, S.A. DE C.V
- Barel S.A.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Mexico Paints and Coatings Market Overview
8.1 Key Industry Highlights
8.2 Mexico Paints and Coatings Historical Market (2018-2022)
8.3 Mexico Paints and Coatings Forecast (2023-2028)
9 Mexico Paints and Coatings Market by Resin Type
9.1 Acrylic
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Alkyd
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 Epoxy
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 Polyester
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.5 Vinyl
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.6 Polyurethane
9.6.1 Historical Trend (2018-2022)
9.6.2 Forecast Trend (2023-2028)
9.7 Others
10 Mexico Paints and Coatings Market by Technology
10.1 Powder Based
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Water-Borne
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Solvent-Borne
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Others
11 Mexico Paints and Coatings Market by Application
11.1 Architectural
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Industrial
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.2.3 Breakup by Type
11.2.3.1 General Industrial
11.2.3.2 Automotive and Transportation
11.2.3.3 Wood
11.2.3.4 Aerospace and Marine
11.2.3.5 Protective
11.2.3.6 Others
12 Mexico Paints and Coatings Market by Region
12.1 Baja California
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Northern Mexico
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 The Bajio
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Central Mexico
12.4.1 Historical Trend (2018-2022)
12.4.2 Forecast Trend (2023-2028)
12.5 Pacific Coast
12.5.1 Historical Trend (2018-2022)
12.5.2 Forecast Trend (2023-2028)
12.6 Yucatan Peninsula
12.6.1 Historical Trend (2018-2022)
12.6.2 Forecast Trend (2023-2028)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter's Five Forces Analysis
13.2.1 Supplier's Power
13.2.2 Buyer's Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 PPG Industries, Inc
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Akzo Nobel N.V.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Benjamin Moore & Co.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Jotun
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Axalta Coating Systems
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Nippon Paint Holdings Co., Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 BASF SE
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 WEG SA
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 PINTURAS OSEL, S.A. DE C.V
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Barel S.A.
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Mexico Paints and Coatings Market: Key Industry Highlights, 2018 and 2028
2. Mexico Paints and Coatings Historical Market: Breakup by Resin Type (USD Billion), 2018-2022
3. Mexico Paints and Coatings Market Forecast: Breakup by Resin Type (USD Billion), 2023-2028
4. Mexico Paints and Coatings Historical Market: Breakup by Technology (USD Billion), 2018-2022
5. Mexico Paints and Coatings Market Forecast: Breakup by Technology (USD Billion), 2023-2028
6. Mexico Paints and Coatings Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Mexico Paints and Coatings Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Mexico Paints and Coatings Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Mexico Paints and Coatings Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. Mexico Paints and Coatings Market Structure
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