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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Latin America Paints and Coatings Market Size
The Latin America paints and coatings market valued at USD 10,440.57 million in 2023. 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.
Latin America Paints and Coatings Market Report Snapshots
Latin America Paints and Coatings Market Size
Latin America Paints and Coatings Market Analysis
Latin America Paints and Coatings Companies
*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
In 2023, the market attained a value of nearly USD 10,440.57 million.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 13,295.30 million by 2032.
The major factors driving the market growth include the growing demand for paints and coatings in the automotive sector, the rising focus on boosting the durability of building structures and other objects, and the increased launches of innovative paints and coatings.
The major regions in the market are Brazil, Argentina, Mexico, Colombia, Peru, Ecuador, Guatemala, El Salvador, Costa Rica, Panama, Republica Dominicana, Peurto Rico, among others.
The market is expected to be aided by the robust growth of the construction industry, the increasing preference for paints and coatings made from sustainable materials, and technological advancements and innovations.
The raw materials in the paints and coatings market are pigments and fillers, solvents, resins, and additives, with resins further sub-divided into acrylic, alkyd, epoxy, and polyurethane, among others..
Paints and coatings find applications in architectural and insdustrial sectors. Industrial sector is further divided into general industrial, automotive and transportation, wood, aerospace and marine, protective, among others.
The Latin America paints and coatings market is estimated to grow at a CAGR of 2.7% between 2024 and 2032.
While paint is used to boost the aesthetic appearance of various surfaces, coatings are utilised to enhance the durability, permeability, rust and corrosion prevention, and waterproofing properties of surfaces.
The significant technologies are powder-based, water-borne, and solvent-borne solutions, among others.
The Latin America paints and coatings market demand is likely to be bolstered by the increasing government investments in infrastructure projects and the development of superior and technologically advanced paints and coatings.
The major players in the market are Akzo Nobel N.V. 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, and others.
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