Dublin, Ireland – The global latex coating market is on track to achieve remarkable growth, projected to reach a substantial valuation of $73.36 billion by 2030, from $50.77 billion in 2023, showcasing a robust Compound Annual Growth Rate (CAGR) of 5.4% according to Research and Markets.
The market for latex coatings encompasses a diverse range of products, each offering unique textures and appearances. Some come pre-mixed and ready-to-use, while others require manual stirring prior to application. The incorporation of colorants and pigments with latex paints contributes to the final product’s color and coverage capabilities. Latex coatings can possess different sheens, including gloss, eggshell, flat, or matte. While flat and matte finishes effectively hide imperfections, gloss and eggshell finishes offer increased durability.
The growth of the latex coating market is driven by its widespread application in various sectors such as construction, automotive, and furniture. Latex coatings exhibit desirable attributes such as adhesion, durability, and water resistance, making them ideal for tasks such as interior and exterior painting, wood finishing, metal protection, and other applications.
Key companies covered as a part of this study include PPG Industries Akzo Nobel N.V., Sherwin-Williams Company, BASF SE, The Dow Chemical Company, Arkema Group, RPM International Inc., Nippon Paint Holdings Co., Ltd., Axalta Coating Systems Ltd., Asian Paints Limited, Kansai Paint Co., Ltd., Jotun Group, Sika AG, Hempel A/S, Benjamin Moore & Co.