Comparing 16 vendors in Paints and Coatings across 100 criteria.
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POWERED BY MARKETSANDMARKETS
Jun 01, 2023
360 Quadrants releases its list of “Top 16 Paints and Coatings Companies, Worldwide 2023” in partnership with MarketsandMarkets. The report recognizes the standouts in the paints and coatings market ranging from mid-sized enterprises to Fortune 500 companies. The vendor evaluation was conducted on over 200 companies, of which the top 16 were categorized and recognized as the new economic quadrant leaders.
Key trends highlighted in 360 Quadrants:
- Barring 2020 and 2021, the paints and coatings industry has grown exponentially in recent years and is poised to grow at a healthy rate in the long term.
- In terms of volume in 2022, the waterborne technology segment accounted for a share of nearly 75% in the architectural paints and coatings market whereas the solvent-borne technology segment accounted for the largest share (45%) in the industrial paints and coatings market.
- Currently, acrylic resins are the most widely used in the industrial sector due to their strong resistance to weathering factors, excellent solvent resistance, impact resistance, and hardness. It was reported as the largest shareholder in the architectural paints and coatings market and industrial paints and coatings market as well, accounting for nearly 28 % and 25% respectively, in terms of volume in the year 2022. Demand is further boosted by the growing construction sector in the Asia Pacific region.
- Asia Pacific is the fastest-growing market for paints and coatings and the per capita consumption in the region is also rising significantly. It was reported as the largest paints and coatings market, accounting for a share of nearly 52% in the global market in terms of volume in 2022. This growth is majorly driven by emerging economies such as India, China, Indonesia, and Vietnam, owing to factors such as high economic growth, improving living standards, increase in disposable income, and a strong surge in the automotive, building & construction, and appliance industries.
- Sherwin-Williams (USA), PPG Industries (USA), AkzoNobel (Netherlands), RPM Inc (USA), and Nippon Paints (Japan) are the top five leading companies in the paints and coatings industry and account for an approximate 35%-40% share of the overall paints and coatings market.
- Major companies like Sherwin-Williams (USA), PPG Industries (USA), AkzoNobel (Netherlands), Axalta Coating Systems (USA), Jotun A/S (Norway), and Hempel (Denmark) have been opting for inorganic growth through mergers & acquisitions, partnerships, and others.
- Companies are diversifying their product portfolios and expanding their geographic presence through partnerships or acquisitions. For instance, in 2022, AkzoNobel made acquisitions to expand in South and Central America and has been focusing more on water-borne paints as the trend for solvent-borne paints is likely to fade out gradually in the European and Latin American regions.
- Sherwin-Williams has also been on an acquisition spree. It made several announcements to acquire companies with different capabilities in order to add unique capabilities such as foil coatings as well as radiation-cured and water-based coatings and accelerate its growth in different industries. This included announcements regarding acquiring companies like Industria Chimica Adriatica S.p.A. (ICA) (Italy), Oskar Nolte (Germany) and Klumpp Coatings (Germany), and others.
The Full List
The Full List
| Logo | Company | Headquarters | Year Founded | Holding Type |
|---|---|---|---|---|
 |
Akzo Nobel | Amsterdam, Netherlands | 1969 | Public |
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Asian Paints | Mumbai,India | 1942 | Public |
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Axalta Coating | Philadelphia, USA | 1866 | Public |
 |
BASF | Ludwigshafen, Germany | 1865 | Public |
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Beckers Group | Berlin, Germany | 1865 | Private |
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Berger Paints | Kolkata, India | 1923 | Public |
 |
Hempel A/S | Lyngby, Denmark | 1915 | Private |
 |
Jotun A/S | Sandefjord, Norway | 1926 | Private |
 |
Kansai Paint | Osaka, Japan | 1918 | Public |
 |
Masco | Livonia, USA | 1929 | Public |
 |
Nippon Paint | Osaka, Japan | 1881 | Public |
 |
PPG | Pittsburgh, USA | 1882 | Public |
 |
RPM | Medina, USA | 1947 | Public |
 |
SK Kaken | Ibaraki, Japan | 1955 | Public |
 |
Sherwin-Williams | Cleveland, USA | 1866 | Public |
 |
Tiger Coatings | Wels, Austria | 1930 | Private |
Frequently Asked Questions (FAQs)
Although though the words "paint" and "coating" are frequently used interchangeably, they have different meanings.
Paint is a kind of coating that is mostly utilised for aesthetic reasons. To impart colour and texture to a surface, a liquid mixture of pigments, binders, and solvents is used. To enhance the appearance of walls, furniture, and other surfaces, paint is frequently applied.
On the other hand, coatings are typically utilised for functional or protective objectives. They can be used to shield a range of surfaces against corrosion, deterioration, or other sorts of harm. Epoxies, polyurethanes, and acrylics are just a few of the many materials that can be used to create coatings, which can also be applied as liquids, powders, or films.
The main distinction between paints and coatings is what they are used for. Coatings are used for protective or functional objectives, whereas paints are usually utilised for decorative purposes. Coatings are typically thicker and more resilient than paints since they are made to resist greater wear and tear.
The following is a list of several coating types:
1. Epoxy coatings are a two-part coating type renowned for its sturdiness and longevity. They are frequently used to cover metal surfaces and preserve concrete floors in industrial and commercial applications.
2. Polyurethane coatings : The great resistance of polyurethane coatings to abrasion, solvents, and UV radiation makes them a popular choice for protective coatings. They are frequently utilised in automotive and aerospace industries, as well as on metal surfaces.
3. Powder Coatings: Coatings that are applied as a dry powder rather than a liquid are known as powder coatings. Its durability, corrosion resistance, and environmental friendliness make them popular for covering metal surfaces.
4. Ceramic coatings: A ceramic material is used to create this particular sort of coating. They are famous for their resistance to heat and corrosion and are frequently used to shield high-temperature surfaces, such engine parts.
Coatings can be manufactured from a wide range of materials based on the particular application and specifications, therefore no one chemical is utilised for coating. These are some typical materials for coating, though:
1. Polymers: Acrylics, polyurethanes, and epoxies are just a few examples of the many coatings that may be created from polymers, which are long chains of molecules. These coatings are renowned for their longevity, adaptability, and resistance to UV radiation and chemicals.
2. Metals: Because of their ability to resist corrosion, metal coatings like zinc or aluminium are frequently employed. These coatings can be used to protect a range of surfaces from rust and other types of corrosion, including steel.
3. Ceramics: Because to their resilience to heat and wear, ceramic coatings are frequently employed in high-temperature applications, such as engine components. Oxides, nitrides, and carbides are just a few of the compounds that can be used to create these coatings.
4. Powder coatings: A range of materials, such as polyester, epoxy, and acrylics, are used to create powder coatings. They are used to coat surfaces as a dry powder, which is then baked to produce a tough, scratch-resistant finish.
5. Natural materials: Natural materials can also be utilised as coatings for ornamental or protective purposes. Examples include leather, cork, and wood.
Since the ideal coating for a given application will depend on the particular requirements and circumstances of that application, there is no one "best" form of coating. The best kind of coating for a particular situation will depend on the requirements of that situation. Different coatings are designed to provide specific properties, such as resistance to corrosion, abrasion, UV radiation, or high temperatures.
Epoxy coatings are a popular option for safeguarding concrete floors in industrial or commercial environments because of its durability and resilience to chemicals and abrasion. Due to their longevity and corrosion resistance, powder coatings are a popular option for metal surfaces, whereas polyurethane coatings are frequently used in automotive and aerospace applications due to their resilience to abrasion, solvents, and UV radiation.
There is no one "strongest" coating because the best coating for a given application will vary depending on its particular needs and environmental factors. The strongest coating for a given environment will rely on the particular requirements of that situation. Various coatings are designed to provide specific features, such as resistance to corrosion, abrasion, UV radiation, or high temperatures.
Some coatings with a reputation for sturdiness and longevity include:
1. Ceramic finishes: Ceramic materials like oxides, nitrides, and carbides are used to create ceramic coatings, which are renowned for their durability and resistance to wear and corrosion. They are frequently employed in high-temperature settings, such as in engine parts.
2. Polyurea coatings: A particular variety of polyurethane coating, polyurea coatings are renowned for their extraordinary toughness and tenacity. They are frequently employed in commercial and industrial situations where critical abrasion, chemical, and UV radiation resistance is required.
3. Epoxy coatings: A two-part coating with a reputation for strength and durability. They are frequently used to cover metal surfaces and preserve concrete floors in industrial and commercial applications.
4. Powder coatings: These coatings are used as a dry powder rather than a liquid and are renowned for their tenacity, corrosion resistance, and scratch resistance.
The strongest coating for a given application will ultimately depend on the application's particular performance needs as well as the environmental factors it will be subjected to. To choose the best coating for a given circumstance, testing and consultation with coating specialists may be required.
The ideal metal coating will vary depending on the particular conditions and needs of the application. Various coatings are made to offer different characteristics, such as resistance to temperature changes, abrasion, UV rays, and corrosion. These are some typical metal coatings, nevertheless, that are frequently used:
1. Powder coatings: Due to their ability to offer metal surfaces with a long-lasting, scratch-resistant coating that is also resistant to corrosion, chemicals, and UV rays, powder coatings are a popular option.
2. Epoxy coatings: These two-part coatings are renowned for their sturdiness and longevity. They have great metal surface adherence and are frequently employed as corrosion and other sorts of damage protection.
3. Zinc-rich coatings: Often referred to as galvanised coatings, zinc-rich coatings are a form of finish used to protect metal surfaces from corrosion. High concentrations of zinc in these coatings serve as a sacrificial anode to shield the underlying metal.
4. Polyurethane coatings: Polyurethane coatings are renowned for their chemical, UV, and abrasion resistance. They are frequently utilised in settings like maritime or industrial ones that expose metal surfaces to extreme conditions.
5. Ceramic coatings: A high-temperature coating type that is frequently utilised in aerospace and automotive applications. They offer exceptional heat resistance and are renowned for their toughness, resistance to wear, and resistance to corrosion.
Ultimately, the optimum coating for a certain metal surface will rely on the particular needs of the application, including the type of metal being used, the climatic conditions it will be exposed to, and the level of protection that is necessary. Finding the best coating solution for a certain case may need testing, consultation with coating experts, and testing itself.
Applying a thin layer of material to a surface in order to protect, decorate, or otherwise modify it is known as coating. There are several coating techniques, including electroplating, vapour deposition, roll coating, dip coating, and spray coating. Large surfaces are frequently coated with spray coating, which entails utilising a spray cannon to spray the coating material onto the surface. Smaller things are coated by dip coating, which includes dipping the object into the coating substance. Roll coating involves applying the coating with a roller to flat surfaces. In order to electroplate an object, an electric current must be run through it while submerged in an electrolyte solution. In vapour deposition, the coating material is evaporated and then vacuum-deposited onto the surface. The material being coated, the size and shape of the object, and the required coating qualities all influence the coating process selection.
Paint coatings come in a wide variety of forms, and the particular forms that are suitable for a certain application and intended use will vary. The most typical paint coating kinds are listed below:
1. Solvent-based coatings: With these coatings, the solvent is usually something like mineral spirits, turpentine, or acetone. They are frequently employed in commercial settings or other settings where toughness is crucial.
2. Oil-based Coatings: These coatings employ oil as a binder and are frequently used to exterior applications like painting trim or doors. Although they can take a while to dry, they are extremely resilient.
3. Epoxy coatings: These coatings are produced using a two-part system that is combined just before application. They are frequently utilised in commercial or industrial environments and are incredibly durable.
4. Polyurethane Coatings: These coatings are incredibly resilient and are frequently used on countertops or other high-traffic areas.
5. Acrylic Coatings: These are incredibly adaptable and have a wide range of uses. Interior walls and trim frequently include them.
6. Enamel coatings: These coatings are extremely resilient and are frequently used for outdoor applications, such as painting metal surfaces.
7. Latex Coatings: These coatings are made of water and use latex as the binding agent. Interior walls and ceilings frequently include them.
8. Powder coatings: These coatings are applied as a dry powder, and then they are heated to form a hard, long-lasting surface. Metal surfaces are frequently utilised for them.
Depending on the particular coating and the use for which it is designed, the colour of the coating can vary greatly. Coatings can be translucent, semi-transparent, or opaque and can come in a range of hues, including:
1. Clear or transparent coatings: These coatings are frequently utilised to protect surfaces without altering their colour or appearance. Clear varnishes, lacquers, and sealants are a few examples.
2. White coatings: Interior walls and ceilings frequently use white coatings. Depending on the degree of coverage required, they can be either opaque or semi-transparent.
3. Neutral or earth-tone coatings: These coatings are frequently used for both interior and exterior applications and come in shades including beige, tan, and grey.
4. Bright or striking coatings: These coatings are frequently used for accent walls or ornamental purposes and come in hues like red, blue, and green.
5. Metallic coatings: Metallic coatings are frequently utilised in the automotive and industrial sectors and can be found in a variety of hues.
6. Custom or specialty coatings: Coatings made to order or with specialty formulations can have distinctive colours and finishes. They could have high-gloss, iridescent, or pearlescent finishes.
In the end, the coating's hue will rely on the specific application and the user's preferences. It's crucial to pick a coating that offers the required protection and satisfies the acceptable aesthetic standards.
Coating is a crucial step in many sectors since it has numerous advantages. Protection is one of coating's main advantages. Surfaces can be shielded by coatings against a number of environmental hazards, including corrosion, UV rays, moisture, and abrasion. This can lower the cost of maintenance and repairs while also greatly extending the lifespan of the coated surface. Coatings can also offer practical advantages like greater chemical resistance, increased slip resistance, or improved electrical conductivity or insulation. The use of coatings for decoration enables surfaces to be personalised with various hues, designs, and textures. The final benefit of coatings is that they can help surfaces seem better overall, increasing their value and visual appeal.
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