The paints and coatings industry is on the threshold of another growth cycle as infrastructure spending, manufacturing expansion, and eco-friendly regulations push global consumption to new highs. According to a recent report released on 22 October 2025, the worldwide paints and coatings market is expected to reach approximately US $348 billion by 2034 from US $222 billion this year.
Asia-Pacific continues to dominate the sector, accounting for nearly 47 percent of total global revenue in 2024, driven by industrialization in India, China, and Southeast Asia. Western markets such as Europe and North America are witnessing moderate growth but sharper movement toward sustainability and low-VOC formulations.
Analysts say the market’s next decade will hinge on three structural shifts — green chemistry, performance coatings, and supply-chain consolidation. “The sustainability conversation is now mainstream,” says industry consultant Rahul Kapoor. “Coating producers who innovate with bio-based resins, graphene additives, or powder-based systems will lead.”
India’s paint majors, from Asian Paints to Berger and Grasim’s Birla Opus, are expanding capacity to capture both decorative and industrial demand. Powder coatings are emerging as one of the fastest-growing sub-segments because of near-zero solvent emissions and high durability.
Globally, architectural coatings still make up about 55 percent of revenue, while industrial coatings — covering automotive, marine, packaging, and infrastructure — are rising steadily. The construction revival in the Middle East and emerging-market infrastructure corridors like India’s Gati Shakti plan will provide the backbone of demand.
Challenges remain: volatile crude-oil-linked raw-material prices and potential trade friction among major economies. But most observers agree that the sector’s resilience, diversification, and move toward smart, functional surfaces will keep the growth story intact through 2034.