Latin America Paints and Coatings Market Report and Forecast 2024-2032

Latin America Paints and Coatings Market Report and Forecast 2024-2032


Market Outlook

According to the report by Expert Market Research (EMR), the Latin America paints and coatings market valued at USD 10,440.57 million in 2023. Aided by the booming construction industry and the increasing demand for paints and coatings in various sectors, the market is further assessed to grow at a CAGR of 2.7% during 2024-2032 to record a value of USD 13,295.30 million by 2032.

Paints and coatings are essential materials used to protect surfaces and enhance their aesthetic appeal. These materials find wide-ranging applications across sectors like construction, automotive, marine, and industrial manufacturing, among others. In addition to providing colour and gloss, paints and coatings also offer properties such as resistance to corrosion, chemicals, UV light, and abrasion, increasing the durability and longevity of the coated surfaces.

The burgeoning construction industry in Latin America is the primary driver for the Latin America paints and coatings market growth. With rapid urbanisation and infrastructural development, the need for high-quality paints and coatings has surged, directly influencing the market expansion. Furthermore, the region's increasing economic growth is enhancing living standards, leading to a rise in residential construction and renovations, which further propels the demand for paints and coatings.

Moreover, the automotive industry's growth in Latin America also contributes significantly to the market expansion. As the region witnesses an upswing in vehicle production and sales, the demand for automotive paints and coatings, vital for vehicle protection and aesthetic enhancement, has correspondingly escalated.

Industrial manufacturing is another sector where paints and coatings find extensive use. The increasing industrial activities in the region have necessitated corrosion-resistant and durable coatings to ensure the longevity of machinery and equipment, thereby boosting the Latin America paints and coatings market demand. Furthermore, the marine sector's expansion, driven by the region's rich coastline and thriving maritime trade, has fostered the demand for marine paints and coatings, which protect ships and offshore structures from harsh marine conditions.

Simultaneously, sustainability concerns and stricter environmental regulations have led to a shift towards water-based and eco-friendly paints and coatings in Latin America. This trend is driving innovation in the market, with manufacturers focusing on developing low VOC (volatile organic compounds) and non-toxic paints and coatings. The rise in consumer awareness about environmental impact is further expected to amplify this shift, thus propelling the Latin America paints and coatings market growth.

Market Segmentation

The market can be divided based on resin type, technology, application, and country.

Market Breakup by Resin Type
  • Acrylic
  • Alkyd
  • Epoxy
  • Polyurethane
  • Polyester
  • Others
Market Breakup by Technology
  • Powder-Based
  • Water-Borne
  • Solvent-Borne
  • Others
Market Breakup by Application
  • Architectural
  • Industrial
  • General Industrial
  • Automotive and Transportation
  • Wood
  • Aerospace and Marine
  • Protective
  • Others
Market Breakup by Country
  • Brazil
  • Argentina
  • Mexico
  • Colombia
  • Peru
  • Ecuador
  • Guatemala
  • El Salvador
  • Costa Rica
  • Panama
  • Republica Dominicana
  • Peurto Rico
  • Others
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Latin America paints and coating market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Akzo Nobel N.V.
  • Sinteplast SA
  • Grupo Iquine
  • Qroma S.A.
  • Axalta Coating Systems, LLC
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Pintuco SA
  • Jotun A/S.
  • Organizacion Corona S A
  • Pinturas Berel, SA de CV
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Paints and Coatings Market Analysis
8.1 Key Industry Highlights
8.2 Latin America Paints and Coatings Historical Market (2018-2023)
8.3 Latin America Paints and Coatings Market Forecast (2024-2032)
8.4 Latin America Paints and Coatings Market by Resin Type
8.4.1 Acrylic
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Alkyd
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Epoxy
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Polyurethane
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Polyester
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Latin America Paints and Coatings Market by Technology
8.5.1 Powder-Based
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Water-Borne
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Solvent-Borne
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Latin America Paints and Coatings Market by Application
8.6.1 Architectural
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Industrial
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.2.3 Breakup by Type
8.6.2.3.1 General Industrial
8.6.2.3.2 Automotive and Transportation
8.6.2.3.3 Wood
8.6.2.3.4 Aerospace and Marine
8.6.2.3.5 Protective
8.6.2.3.6 Others
8.7 Latin America Paints and Coatings Market by Country
8.7.1 Brazil
8.7.2 Argentina
8.7.3 Mexico
8.7.4 Colombia
8.7.5 Peru
8.7.6 Ecuador
8.7.7 Guatemala
8.7.8 El Salvador
8.7.9 Costa Rica
8.7.10 Panama
8.7.11 Republica Dominicana
8.7.12 Peurto Rico
8.7.13 Others
9 Regional Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Argentina
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Mexico
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Colombia
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 Peru
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.6 Ecuador
9.6.1 Historical Trend (2018-2023)
9.6.2 Forecast Trend (2024-2032)
9.7 Guatemala
9.7.1 Historical Trend (2018-2023)
9.7.2 Forecast Trend (2024-2032)
9.8 El Salvador
9.8.1 Historical Trend (2018-2023)
9.8.2 Forecast Trend (2024-2032)
9.9 Costa Rica
9.9.1 Historical Trend (2018-2023)
9.9.2 Forecast Trend (2024-2032)
9.10 Panama
9.10.1 Historical Trend (2018-2023)
9.10.2 Forecast Trend (2024-2032)
9.11 Republica Dominicana
9.11.1 Historical Trend (2018-2023)
9.11.2 Forecast Trend (2024-2032)
9.12 Peurto Rico
9.12.1 Historical Trend (2018-2023)
9.12.2 Forecast Trend (2024-2032)
9.13 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Akzo Nobel N.V.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Sinteplast SA
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Grupo Iquine
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Qroma S.A.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Axalta Coating Systems, LLC
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 PPG Industries, Inc.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 The Sherwin-Williams Company
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Pintuco SA
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 Jotun A/S.
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Organizacion Corona S A
12.2.10.1 Company Overview
12.2.10.2 Product Portfolio
12.2.10.3 Demographic Reach and Achievements
12.2.10.4 Certifications
12.2.11 Pinturas Berel, SA de CV
12.2.11.1 Company Overview
12.2.11.2 Product Portfolio
12.2.11.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.12 Others
13 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Paints and Coatings Market: Key Industry Highlights, 2018 and 2032
2. Latin America Paints and Coatings Historical Market: Breakup by Resin Type (USD Million), 2018-2023
3. Latin America Paints and Coatings Market Forecast: Breakup by Resin Type (USD Million), 2024-2032
4. Latin America Paints and Coatings Historical Market: Breakup by Technology (USD Million), 2018-2023
5. Latin America Paints and Coatings Market Forecast: Breakup by Technology (USD Million), 2024-2032
6. Latin America Paints and Coatings Historical Market: Breakup by Application (USD Million), 2018-2023
7. Latin America Paints and Coatings Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Latin America Ammonia Historical Market: Breakup by Country (USD Million), 2018-2023
9. Latin America Ammonia Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Latin America Paints and Coatings Market Structure.

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