Latin America Paints And Coatings Market Size & Outlook
Latin America paints and coatings market, 2018-2030 (US$M)
Related Markets
Latin America paints and coatings market highlights
- The Latin America paints and coatings market generated a revenue of USD 13,330,471.4 million in 2023.
- The market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, solvent-borne coatings was the largest revenue generating product in 2023.
- Waterborne coatings is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 13,330,471.4 million |
| Market revenue in 2030 | USD 18,433,482.9 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Solvent-borne coatings |
| Fastest growing segment | Waterborne coatings |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Radiation cured coatings, Powder coatings, Waterborne coatings, Solvent-borne coatings |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.7% of the global paints and coatings market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 104,128,986.2 million by 2030.
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Paints and Coatings Market Scope
Paints and Coatings Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America paints and coatings market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to paints and coatings market will help companies and investors design strategic landscapes.
Solvent-borne coatings was the largest segment with a revenue share of 31.08% in 2023. Horizon Databook has segmented the Latin America paints and coatings market based on radiation cured coatings, powder coatings, waterborne coatings, solvent-borne coatings covering the revenue growth of each sub-segment from 2018 to 2030.
Then Central & South American market is expected to witness substantial growth over the forecast period owing to the region’s economic growth in the past few years. Increasing disposable income of consumers has surged the demand for automobiles, which is expected to augment the demand for the product over the forecast period.
Increasing automotive vehicle sales in Argentina, Brazil, and Columbia is also expected to have a positive impact on the paints and coatings market. Rising foreign investments in the automotive sector in the region are expected to open new growth avenues for paints and coatings over the forecast period.
The emergence of construction companies in Chile and Peru is expected to create growth potential over the forecast period. In addition, the presence of various key players, including The Sherwin-Williams Company, AkzoNobel NV, and BASF SE, in the region is expected to propel market growth over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America paints and coatings market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America paints and coatings market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America paints and coatings market size, by country, 2018-2030 (US$M)
Latin America Paints and Coatings Market Outlook Share, 2023 & 2030 (US$M)
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