The global paints and coating market size is projected to grow from USD 190.1 billion in 2022 to USD 223.6 billion by 2027, at a CAGR of 3.3%, between 2022 and 2027. The paints and coatings market is mainly characterized by the following main resin types: acrylic, alkyd, epoxy, polyurethane, fluoropolymer, vinyl, polyester, and other. Paints and coatings have significant use in industrial and architectural end-use industries. Various manufacturers are shifting their manufacturing units to Asia Pacific because of the availability of raw materials, low labor cost, and favorable government policies in emerging markets such as India, Thailand, and Singapore. Economic growth, rising population, increasing residential building activities, growing urbanization, and housing construction expenditure are the important drivers of the global paints & coatings market.
Architectural Segment is Expected to Account for the Largest Share in 2022