Performance Coatings Market by Type (Epoxy, Silicon, Polyester, Acrylic, Alkyd, Polyurethane, Fluoropolymer, and Other Types), Coating Technology (Solvent-based, Water-based, and Powder-based), End-user Industry (Building and Construction, Automotive and Transportation, Industrial, Aerospace and Defense, Marine, and Other End-user Industries), and Geography - Performance Coatings Market

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Performance Coatings Market size was estimated to be valued at USD 84,923.1 million in 2022 and is poised to grow at a significant CAGR of 5.1% over 2023-2029. Performance coatings are frequently utilised in environments where surfaces and structures need to be durable, chemical resistant, and improved abrasion. They are made to meet the specifications of their main purpose, which is to safeguard the surface on which they are coated. In a number of end-use industries, including construction, automotive and transportation, industrial, aerospace & defence, marine, and others, performance coatings can be applied using a variety of techniques, including solvent-based coating, water-based coating, and powder-based coatings. The increase in demand for performance coatings in the automotive and marine industries is the main factor propelling the growth of the worldwide performance coatings market. Due to their superior performance characteristics, such as adhesion, alkali resistance, flexibility, chemical resistance, heat resistance, ultraviolet (UV) resistance, moisture tolerance, and resistance to permeating, performance coatings are in high demand in the automotive, transportation, and marine industries. Over the course of the forecast period, these characteristics are anticipated to drive the global performance coating market. Further predicted to drive product demand in industrial textile production is the expanding use of performance coatings in the industrial sector. Rollers used in the manufacture of textiles are covered with performance coatings to help them endure high temperatures, corrosive chemicals, and abrasive conditions. During the review period, it is anticipated that increased automotive production and sales due to better economic development will drive up demand for performance coatings. Automobile coatings have been regarded as one of the most significant markets in recent years and are essential to the automobile sector. In automotive applications, polyurethane coating is frequently used as a high-performance topcoat binder. Epoxy coating, in contrast, is utilised as a primer or as the layer under the topcoat layer due to its excellent adherence and corrosion resistance. The aerospace and defence industry's extensive usage of industrial coatings in windscreen glass, gas turbine engines, air containers, rocket exhaust cones, insulating tiles, space shuttles and engine components is a major market driver. 

Performance Coatings Market Key Developments:
In September 2021, Fenix Group, acquired one of the leading companies in specialty and high-performance coatings for industrial applications, Lubbock, Texas-based TCI Coatings. This acquisition will broaden Fenix's selection of performance coatings.

Performance Coatings Market Summary

Study Period

2023– 2029

Base Year




Largest Market

Asia Pacific

Fastest Growing Market

North America
Performance Coatings Market Dynamics

The global performance coatings market is expanding due to an increasing trend of temperature-resistant paint adoption. Moreover, there has been a shift towards environmentally friendly and more sustainable practices adopted by consumers globally. This development will provide further scope for expansion in various industries such as automotive, aerospace & defense, construction activity, etc., which are expected to drive demand for high-performance coating products worldwide. Furthermore, rising globalization trends have increased manufacturing activities across various regions due to rapid transportation and trade facilities that allow businesses to operate at a low cost with little time lag. In addition, technological advancements around better process optimization methods have led suppliers towards using advanced materials while reducing product weight without compromising durability or quality levels required during application on surfaces.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Performance Coatings Market Segmentation

By Type
  • Epoxy
  • Silicon
  • Polyester
  • Acrylic
  • Alkyd
  • Polyurethane
  • Fluoropolymer
  • Other Types (Polyether Sulfone (PES), Vinyl-Ester, etc.)
By Coating Technology
  • Solvent-based
  • Water-based
  • Powder-based
By End User
  • Building and Construction
  • Automotive and Transportation
  • Industrial
  • Aerospace & Defense
  • Marine
  • Other End-user Industries
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA


Frequently Asked Questions

Asia Pacific holds the highest share in 2022.

PPG Industries Inc., Akzo Nobel NV, Daikin Industries Ltd., Hempel Group, and The Sherwin-Williams Company are the major companies operating in High-Performance Coatings Market.

Building and Construction accounts for the major market share in 2022.

  • Akzo Nobel NV (Netherlands)
  • PPG Industries Inc. (US)
  • Kansai Nerolac Paints Limited (India)
  • Metal Coatings Corp. (US)
  • Toefco Engineered Coating Systems Inc. (US)
  • Endura Coatings LLC (US)
  • Beckers Group (Germany)
  • Nippon Paint Holdings Co. Ltd (Japan)
  • The Sherwin-Williams Company (US)
  • AFT Fluorotec Ltd (UK)
  • The Chemours Company (US)
  • Hempel Group (Denmark)