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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Colombia Paints Market Size
The Colombia paints market size reached around USD 1,035.7 million in 2023. The market is estimated to grow at a CAGR of 4.1% during 2024-2032 to reach a value of USD 1,456.8 million by 2032.
Key Takeaways
- Rising home renovation activities in Colombia have led to increased usage of paints that provide anti-bacterial properties and high gloss finish.
- Rising concerns about climate change and demand for sustainable offerings have fueled the demand for eco-friendly paints.
- Technological advancements such as antibacterial coating technology, thermal insulation technology, and bio-based acrylic emulsion are revolutionising the market.
The growth in the Colombian housing sector is a crucial factor driving the demand for paints and coatings. Consumers are increasingly adopting decorative paints to enhance the aesthetic appeal of their homes.
The expanding urbanisation and population growth in Colombia is supporting the construction of transportation infrastructure, including roads and airports. The government's attention to public infrastructure development and modernisation of roads, subways, and highways, such as the ongoing construction of Bogotá's subway scheduled to start operating in 2028, supports the paints market development.
Paint protects automobiles from corrosion. The Colombian automotive sector is specialised in the production, painting, and assembly of cars and motorcycles. Colombia’s manufacturing sector is also a crucial consumer of paints. In 2022, its y-o-y output expanded by 11.26%, contributing to the market growth.
Colombia Paints Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of USD 1,035.7 million in 2023.
The market is projected to grow at a CAGR of 4.1% during 2024-2032
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 1,456.8 million by 2032.
The major drivers of the market include the rising utilisation of paints in automotive and general industries, the growing construction sector, and increasing focus on building protection.
Rapid urbanisation and industrialisation, rising government investments towards infrastructure development, and development of innovative paints are the key trends propelling the market growth.
The primary raw materials are resin, pigments and fillers, additives, and solvents.
The various technologies in the market include powder-based, water-borne, and solvent-borne, among others.
Architectural/decorative and industrial are the major applications of paints in Colombia.
The lifespan of paint depends upon the type of paint, for example, while latex paint has an average lifespan of 2 to 10 years, acrylic and oil-based paints can last up to 15 years.
The key players in the market include Sherwin-Williams Company, PPG Industries, Inc., Pintuco SA, Pintubler de Colombia S.A., WEG S.A., Pinturas Super LTDA, Organizacion Corona S A, Akzo Nobel N.V., INVESA SA, CLQ / COLORQUIMICA SAS, and Sun Chemical Corporation, among others.
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United States (Head Office)
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124