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Mexico Paints and Coatings Market Size, Share, Forecast: By Raw Material: Resin, Pigments and Fillers, Additives, Solvents; By Technology: Water-Borne, Solvent-Based, Powder-Based, Others; By Application: Industrial, Architectural; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Mexico Paints and Coatings Market Trends
The lower labour costs and skilled workforce are strengthening Mexico’s automotive and aerospace manufacturing sectors, which in turn, aids the market for paints and coatings in Mexico.
Mexico’s automotive sector is a major contributor to the economy. Mexico is the fifth-largest manufacturer of heavy-duty vehicles globally. The country has established itself as a major vehicle manufacturing hub with the presence of prominent automobile manufacturers such as Ford Motor Co, General Motors (GM), and BMW AG. The escalating manufacturing of vehicles in the country is further driving the Mexico paints and coatings market growth.
According to World Bank, in 2022, Mexico’s manufacturing sector accounted for 21% of Mexico’s GDP. The expansion of automotive, consumer electronics, and aerospace manufacturing sector is contributing to the market growth.
Mexico is witnessing a demand for low-VOC paints and coatings that are safe for the environment and human health. Low VOC paints are also being increasingly adopted as road marking paint in Mexico.
Mexico Paints and Coatings Market Report Snapshots
Mexico Paints and Coatings Market Size
Mexico Paints and Coatings Market Trends
Mexico Paints and Coatings Market Regional Analysis
Mexico 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.
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 Mexico Paints and Coatings Market Overview
8.1 Key Industry Highlights
8.2 Mexico Paints and Coatings Historical Market (2018-2023)
8.3 Mexico Paints and Coatings Forecast (2024-2032)
9 Mexico Paints and Coatings Market by Raw Material
9.1 Resin
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Pigments and Fillers
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Additives
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Type
9.3.3.1 Acrylic
9.3.3.2 Alkyd
9.3.3.3 Epoxy
9.3.3.4 Polyurethane
9.3.3.5 Others
9.4 Solvents
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 Mexico Paints and Coatings Market by Technology
10.1 Water-Borne
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Solvent-Based
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Powder-Based
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 Mexico Paints and Coatings Market by Application
11.1 Industrial
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Market by Type
11.2.3.1 Indoor
11.2.3.2 Outdoor
11.2 Architectural
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.2.3 Market by Type
11.2.3.1 General Industrial
11.2.3.2 Automotive and Transportation
11.2.3.3 Wood
11.2.3.4 Aerospace and Marine
11.2.3.5 Protective
11.2.3.6 Others
12 Mexico Paints and Coatings Market by Region
12.1 Baja California
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Northern Mexico
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 The Bajío
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Central Mexico
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Pacific Coast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Yucatan Peninsula
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 PPG Industries, Inc.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Akzo Nobel N.V.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Benjamin Moore & Co.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Jotun A/S
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Axalta Coating Systems Ltd.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Nippon Paint Holdings Co., Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 BASF SE
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 WEG S.A.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Pinturas Osel, S.A. DE C.V
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Sherwin-Williams Company
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Mexico Paints and Coatings Market: Key Industry Highlights, 2018 and 2032
2. Mexico Paints and Coatings Historical Market: Breakup by Raw Material (USD Billion), 2018-2023
3. Mexico Paints and Coatings Market Forecast: Breakup by Raw Material (USD Billion), 2024-2032
4. Mexico Paints and Coatings Historical Market: Breakup by Technology (USD Billion), 2018-2023
5. Mexico Paints and Coatings Market Forecast: Breakup by Technology (USD Billion), 2024-2032
6. Mexico Paints and Coatings Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Mexico Paints and Coatings Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Mexico Paints and Coatings Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Mexico Paints and Coatings Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. Mexico Paints and Coatings Market Structure
Key Questions Answered in the Report
The market attained a value of USD 3,500.5 million in 2023.
The market is estimated to grow at a CAGR of 5.3% 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 5,513.6 million by 2032.
The key trends fuelling the growth of the market include rapid development of eco-friendly paints and coatings and rising requirement from the automotive sector.
The key regions are Central Mexico, Northern Mexico, The Bajío, Pacific Coast, Yucatan Peninsula, and Baja California.
The market uses water-borne, solvent-based, powder-based, and other technologies.
The raw materials include resin, pigments and fillers, additives, and solvents.
The key players in the market include PPG Industries, Inc., Akzo Nobel N.V., Benjamin Moore & Co., Jotun A/S, Axalta Coating Systems Ltd., Nippon Paint Holdings Co., Ltd., BASF SE, WEG S.A., Pinturas Osel, S.A. DE C.V, and Sherwin-Williams Company, among others.
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