Asia-Pacific Paints & Coating Market is Expected to grow at a robust CAGR of 7.45% through 2030F
The increasing Asia-Pacific Paints &
Coating market is driven by rapid shift toward water-based paints and Low-VOC
Formulations, surge in demand from infrastructure and smart city projects
during the forecast period 2026-2030F.
According to TechSci Research report, “Asia-Pacific Paints & Coating
Market – By Country, Competition, Forecast and Opportunities, 2020-2030F”, The
Asia-Pacific Paints & Coating Market was valued at USD 60.15 Billion in
2024 and is expected to reach USD 93.40 Billion by 2030 with a CAGR of 7.45%
during the forecast period. One of the most significant trends shaping the
Asia-Pacific paints and coatings market is the increasing demand for
water-based and low-VOC (volatile organic compound) formulations. This shift is
primarily driven by growing environmental awareness, stricter government
regulations, and consumer preference for eco-friendly products. Traditional
solvent-based coatings release high levels of VOCs that contribute to air
pollution and health hazards. Consequently, many countries especially China,
South Korea, and Japan are tightening VOC emission limits.
Water-based paints are gaining traction
across both decorative and industrial segments. In architectural coatings, they
are preferred for interior applications due to lower odor, quick drying, and
ease of cleanup. In automotive and general industrial coatings, newer
waterborne technologies are being developed to match the performance of
solvent-based systems.
Multinational manufacturers are
investing heavily in R&D to expand their water-based portfolios, while
local players are adapting to these formulations to stay competitive. According
to recent industry estimates, water-based coatings accounted for nearly 60% of
all architectural paint usage in urban China by 2024, a figure expected to rise
further with expanding environmental mandates.
However, widespread adoption in emerging
markets like India, Vietnam, and Indonesia is still gradual due to pricing
sensitivity and limited awareness. Nonetheless, the trend is accelerating as
consumers become more environmentally conscious and developers demand products
that align with green building certifications like LEED and IGBC.
As sustainability continues to shape
product innovation and purchasing decisions, the transition to water-based and
low-VOC coatings is poised to dominate future growth trajectories in the
Asia-Pacific paints and coatings market.
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Based on technology, Solvent-borne is
the fastest growing segment in the Asia-Pacific Paints & Coating market during
the forecast period, due to its superior performance characteristics and
broad application scope across various industries. Solvent-borne coatings offer
excellent adhesion, durability, chemical resistance, and gloss retention,
making them ideal for demanding applications in automotive, industrial, and
protective coatings. These properties ensure long-lasting protection against
harsh environmental conditions, which is especially critical in regions with
extreme weather and pollution challenges commonly found in parts of
Asia-Pacific.
Industries such as automotive manufacturing are
significant contributors to solvent-borne coatings growth. The demand for
solvent-borne paints in automotive refinish and OEM segments is rising, driven
by increasing vehicle production and maintenance activities in countries like
China, India, and Southeast Asia. Solvent-borne coatings provide a high-quality
finish and resistance to wear and tear, essential for extending vehicle
lifespan.
Moreover, solvent-borne coatings remain favored in the
industrial equipment and heavy machinery sectors due to their ability to
withstand corrosion, abrasion, and chemical exposure. With the expansion of
manufacturing and infrastructure development projects in Asia-Pacific, the need
for robust protective coatings supports solvent-borne segment growth.
While environmental regulations encourage low-VOC
alternatives, solvent-borne coatings are evolving with advanced formulations
that reduce VOC emissions while maintaining performance. This technological
advancement allows solvent-borne coatings to comply with stricter environmental
standards, ensuring their continued adoption.
Additionally, solvent-borne coatings often cost less
than high-performance water-borne or powder coatings, appealing to
price-sensitive markets within Asia-Pacific. This affordability combined with
proven performance drives preference in various applications.
Based on country, India is the fastest
growing country in the Asia-Pacific Paints & Coating Market during the
forecast period due to its rapid urbanization, expanding industrial base, and rising
consumer demand. The country’s large population and growing middle class are
driving significant growth in the residential construction sector, which
requires extensive architectural coatings. Affordable housing projects, smart
city initiatives, and infrastructure development, supported by government
policies, are fueling demand for paints and coatings across urban and rural
areas alike.
India’s booming automotive industry also contributes
heavily to the market’s expansion. As the country becomes one of the largest
vehicle manufacturers globally, the demand for high-performance coatings for
both OEM and aftermarket applications rises. This includes protective coatings
that enhance durability and aesthetic appeal, supporting the growth of
solvent-borne and polyurethane segments.
The industrial sector in India is also rapidly
developing, with increasing investments in manufacturing, energy, and heavy
machinery. These industries rely on durable coatings to protect equipment and
extend operational lifespan, thereby stimulating demand for epoxy, powder, and
polyurethane coatings. Additionally, the government’s emphasis on Make in India
and self-reliance encourages domestic production and innovation in paints and
coatings.
Environmental awareness and regulatory reforms are
steering the market toward eco-friendly, low-VOC, and water-borne coatings.
Indian manufacturers are increasingly adopting sustainable technologies to
comply with stricter emission norms, boosting demand for advanced formulations.
Furthermore, rising disposable incomes and changing
lifestyles increase consumer spending on decorative and protective coatings for
household goods, appliances, and furniture, expanding the decorative paints
segment.
The combination of strong economic growth,
industrialization, infrastructural investments, and shifting consumer
preferences positions India as the fastest growing country in the Asia-Pacific
Paints & Coatings market during the forecast period.
Key market players in the Asia-Pacific Paints
& Coating market are: -
- 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
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“The Asia-Pacific Paints & Coatings market presents
significant growth opportunities driven by rapid urbanization, industrial
expansion, and increasing infrastructure projects across emerging economies
like India, Indonesia, and Vietnam. Growing demand for eco-friendly, low-VOC,
and sustainable coatings offers innovation potential, especially in water-borne
and powder coatings. The expanding automotive and construction sectors require
advanced protective and decorative coatings, creating diverse application areas.
Additionally, rising consumer awareness about durability and aesthetics fuels
decorative paint adoption. Investments in smart cities and green buildings
further stimulate demand, making the region a lucrative market for both global
and local coatings manufacturers.Top of Form”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global
management consulting firm.
“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,” has evaluated the future
growth potential of Asia-Pacific Paints & Coating Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Asia-Pacific Paints & Coating Market.
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