Skip navigation
Reports & Analysis Strategic Insights Research Subscriptions
Sign In / Create Account Cart
Sign In / Create Account Cart
  • Reports & Analysis
  • Strategic Insights
  • Research Subscriptions

Resources

  • Analyst Buzz
  • Press Releases
  • Blog
  • Resources & Downloads

The Freedonia Group

  • Contact
  • About
  • Our Staff
  • Help Center
  • Career Opportunities
Freedonia Market Research Press Releases Paint & Coatings Manufacturers See Significant Growth Opportunities in Southeast Asia

Paint & Coatings Manufacturers See Significant Growth Opportunities in Southeast Asia

by Corinne Gangloff

April 8, 2021

A new Freedonia Group analysis of the $186 billion global paint and coatings market projects that the world’s emerging markets – most predominantly those in the Asia/Pacific region – will continue to post the fastest gains through 2024, driven by rising income levels and expanding inustrial sectors in these countries.

Global Volume Demand for Paint & Coatings to Near 64 Million Metric Tons by 2024 

Led by China, by far the world’s largest market, the Asia/Pacific region is forecasted to account for nearly 80% of new global paint and coatings demand in volume terms through 2024, driven primarily by manufacturing and construction trends in China and India.

But rapidly developing countries in Southeast Asia – including Indonesia, Thailand, the Philippines, and Vietnam – also offer strong opportunities for new paint sales in all areas. Despite slowed capital investment amid the COVID-19 pandemic, manufacturers based in Western Europe and North America will continue to expand their presence in these countries, boosting demand for:

  • Manufacturing paint and coatings used in the production of products such as motor vehicles, furniture, and packaging
  • Specialty coatings used on industrial lines

Additionally, these countries are quickly improving their housing stocks, infrastructures, and commercial centers. As economies expand, personal incomes in the region are rising and more consumers are able to purchase products such as automobiles and appliances such as refrigerators, boosting related paint and coatings demand in the near and long term.

Want to Learn More?

Global Paints & Coatings is now available from the Freedonia Group.

This study examines the global paint and coatings industry, which is divided into three major markets:

  • Architectural (new residential construction; residential remodel and repaint; nonresidential construction)
  • Manufacturing/OEM (furniture and fixtures; motor vehicles; packaging; other manufacturing –e.g., prefabricated building components, appliances, electronics, machinery, aerospace equipment)
  • Protective and specialty (industrial maintenance; corrosion protection, including pipeline coatings; marine – e.g., commercial ships, offshore oil and gas drilling rigs, product platforms; vehicle refinishing; other specialty coatings – e.g., HVAC equipment, oil and gas pipelines, roads and bridges, electrical equipment)

The paint and coatings market is also examined by formulation, including:

  • Water-based coatings (e.g., emulsions/latex paints, water-soluble paints, water-dispersible paints/colloidal coatings, water-based alkyds
  • Solvent-based coatings
  • Powder coatings
  • Other products, including radiation-curable coatings

Historical data (2009, 2014, and 2019) are reported in metric tons and current US dollars, with forecasts provided for 2024 and 2029.

Have unique research needs?

Freedonia Strategic Insights listens intently to your needs and objectives. Then we work diligently to define and deliver a service to meet them.
Learn About Our Custom Research Services

Subscribe to Our Blog

Stay up to date with the latest information about new market research and news in areas relevant to your business from our analysts and team members.

Freedonia Focus Blog Subscription

Provide the following details to subscribe.

The Freedonia Group needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy.
  • Contact
  • About
  • Help Center
  • Career Opportunities
  • Press Contact
  • User Agreement
  • Privacy Policy
  • Site Map

Additional Resources

  • Market Size Resources
  • Lawn & Garden Market Research
  • Roofing Market Research
  • Pet Products Market Research
  • Countertops Market Research
  • Power Tools Market Research
  • Publishing for the PreK-12 Market Research
  • Insulation Market Resaerch
  • Cabinets Market Research
  • Flooring Market Research
  • Pet Supplements Market Research
  • Agricultural Equipment Market Research
  • Open Access Publishing Market Research
  • Silicones Market Research
  • For Legal Inquiries, contact Cohen & Cohen
Copyright © 2025 The Freedonia Group, Inc. All rights reserved.