Mexico Paints and Coatings Market Introduction and Overview
According to SPER Market Research, the Mexico Paints and Coatings Market is estimated to reach USD 5516.04 million by 2033 with a CAGR of 5.03%.
The report includes an in-depth analysis of the Mexico Paints and Coatings Market, including market size and trends, product mix, applications, and supplier analysis. Paints and coatings are mixtures of resins, solvents, pigments, and other additives that are applied to surfaces to adorn and protect them from environmental influences. They have seen broad use in the residential, industrial, and commercial sectors. Paints and coatings play an important role in many industries because they increase product longevity and offer a barrier against external harm such as rust. Manufacturers are investing in the development of high-quality paints and coatings that are easy to apply, effectively mask surface flaws, adhere to surfaces, and resist peeling and mildew.
- In May 2023, PPG announced an investment of approximately USD 44 million to extend its powder coatings offerings and improve worldwide production in order to fulfil rising customer demand for environmentally friendly solutions.
- In May 2022, Akzo Nobel introduced Dulux Floor Plus, a game-changing product in the floor coatings sector. It is a water-based acrylic emulsion designed to protect and enhance flooring, such as interlock paver blocks, pathways, terraces, and cemented and concrete surfaces.
Market Opportunities and Challenges
Opportunities- Technological breakthroughs have resulted in paints and coatings that are both attractive and useful. For example, insulative paints, which help to manage indoor temperatures, and anti-microbial coatings, which provide further protection in healthcare settings, are gaining popularity in the paints and coatings sector. The automotive and aerospace sectors in Mexico also boost the paints and coatings industry. The importance of high-quality, long-lasting vehicle coatings cannot be overstated, given Mexico's status as a manufacturing hub. Such coatings not only improve a vehicle's appearance, but they also give important protection against rust, UV radiation, and other deteriorating causes.
Challenges- The industry is facing problems because to economic dynamism in Europe, North America, and other parts of the world. Political developments are affecting the economy, which in turn affects the paints and coatings business. Furthermore, climate change and greenhouse gas emissions are causing global warming, which is affecting temperatures around the planet. Temperature has a significant impact on the composition of paints and coatings, as well as their drying time. This increase in temperatures necessitates that vendors change their business model and develop a new line of items that can withstand shifting temperatures.
Market Competitive Landscape
The Mexico paints and coatings market is moderately fragmented. PPG Industries Inc, Benjamin Moore & Co, Nippon Paint Holdings Co, Ltd, Axalta Coating Systems, and PINTURAS OSEL S.A. DE C.V. are among the market's top companies.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Resin Type, By Technology, By End-User Industry
|
| Regions covered | North, South, East, West, Central
|
| Companies Covered | PPG Industries, Inc, Akzo Nobel N.V, Benjamin Moore & Co, Jotun, Axalta Coating Systems, Nippon Paint Holdings Co, Ltd, BASF SE, WEG SA, PINTURAS OSEL, S.A. DE C.V, Barel S.A.
|
COVID-19 Impact on Mexico Paints and Coatings Market
The COVID-19 epidemic has had an influence on the paint and coatings sector. The epidemic has affected the supply chain and manufacturing activity, resulting in a lack of raw materials and decreased production capacity. The epidemic has significantly damaged the construction, automotive, and maritime industries, resulting in decreased demand for paints and coatings. However, the industry is likely to recover in the coming years due to rising demand for environmentally friendly and sustainable paints and coatings.
Key Target Audience:
- Construction and Infrastructure Companies
- Automotive Manufacturers and Repair Shops
- Industrial Manufacturers
- DIY Consumers and Homeowners
- Retailers and Distributors
- Marine and Aerospace Companies
- Government and Public Sector Agencies
Our in-depth analysis of the Mexico Paints and Coatings Market includes the following segments:
| By Resin Type: | Acrylic Alkyd Polyurethane Epoxy Polyester Other Resin Types |
| By Technology: | Water-borne Solvent-borne Powder Coatings Other Technologies |
| By End-User Industry: | Architectural Automotive Wood Protective Coating General Industrial Transportation Packaging |
Key Topics Covered in the Report:
- Mexico Paints and Coatings Market Size (FY’2024-FY’2033)
- Overview of Mexico Paints and Coatings Market
- Segmentation of Mexico Paints and Coatings Market By Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, Others)
- Segmentation of Mexico Paints and Coatings Market By Technology (Water-borne, Solvent-borne, Powder coatings, Others)
- Segmentation Mexico Paints and Coatings Market By End-User Industry (Architectural, Automotive, Wood, Protective Coating, General Industrial, Transportation, Packaging)
- Statistical Snap of Mexico Paints and Coatings Market
- Expansion Analysis of Mexico Paints and Coatings Market
- Problems and Obstacles in Mexico Paints and Coatings Market
- Competitive Landscape in the Mexico Paints and Coatings Market
- Impact of COVID-19 and Demonetization on Mexico Paints and Coatings Market
- Details on Current Investment in Mexico Paints and Coatings Market
- Competitive Analysis of Mexico Paints and Coatings Market
- Prominent Players in the Mexico Paints and Coatings Market
- SWOT Analysis of Mexico Paints and Coatings Market
- Mexico Paints and Coatings Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Mexico Paints and Coatings Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Mexico Paints and Coatings Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Mexico Paints and Coatings Market
7. Mexico Paints and Coatings Market, By Resin Type (USD Million) 2020-2033
7.1. Mexico Paints and Coatings Market Size, Share and Forecast, By Resin Type, 2020-2026
7.2. Mexico Paints and Coatings Market Size, Share and Forecast, By Resin Type, 2027-2033
7.3. Acrylic
7.4. Alkyd
7.5. Polyurethane
7.6. Epoxy
7.7. Polyester
7.8. Other Resin Types
8. Mexico Paints and Coatings Market, By Technology (USD Million) 2020-2033
8.1. Mexico Paints and Coatings Market Size, Share and Forecast, By Technology, 2020-2026
8.2. Mexico Paints and Coatings Market Size, Share and Forecast, By Technology, 2027-2033
8.3. Water-borne
8.4. Solvent-borne
8.5. Powder Coatings
8.6. Other Technologies
9. Mexico Paints and Coatings Market, By End-User Industry (USD Million) 2020-2033
9.1. Mexico Paints and Coatings Market Size, Share and Forecast, By End-User Industry, 2020-2026
9.2. Mexico Paints and Coatings Market Size, Share and Forecast, By End-User Industry, 2027-2033
9.3. Architectural
9.4. Automotive
9.5. Wood
9.6. Protective Coating
9.7. General Industrial
9.8. Transportation
9.9. Packaging
10. Mexico Paints and Coatings Market Forecast, 2020-2033 (USD Million)
10.1. Mexico Paints and Coatings Market Size and Market Share
11. Mexico Paints and Coatings Market, By Region, 2020-2033 (USD Million)
11.1. Mexico Paints and Coatings Market Size and Market Share By Region (2020-2026)
11.2. Mexico Paints and Coatings Market Size and Market Share By Region (2027-2033)
11.3. North
11.4. South
11.5. East
11.6. West
11.7. Central
12. Company Profile
12.1. PPG Industries, Inc
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Akzo Nobel N.V
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Benjamin Moore & Co
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Jotun
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Axalta Coating Systems
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Nippon Paint Holdings Co., Ltd
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. BASF SE
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. WEG SA
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. PINTURAS OSEL, S.A. DE C.V
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Barel S.A
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13 Conclusion
14 List of Abbreviations
15 Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
