2024 global coatings market remains stable

The global coatings market remains stable, with no significant growth, but also no significant decline. China has the largest share, accounting for 25%, while India and other Asian countries together account for 21% (India accounts for 6%, and other Asian regions outside of China and India account for 15%). The European region accounts for 22%, the North American region accounts for 19%, the Latin American region accounts for 7%, the Middle East and region accounts for 4%, and the African region accounts for 2%.

China is the world's largest single paint market, and in 2025, with interest rate cuts taking effect and inflationary pressures subsiding in the post pandemic era, the growth rate of the Chinese market is expected to accelerate.