The global coatings market will reach $167.04 billion in 2022

March 10 news, Mecca core color new Material Technology (Shanghai) Co., LTD. (hereinafter referred to as "Mecca Core Color") recently disclosed the initial public offering of shares and listed on the main board prospectus, a comprehensive analysis of the paint industry.

According to Fortune Business Insight, the global coatings market will be worth $160.03 billion in 2021 and $167.04 billion in 2022. According to its forecast, the global paint market is expected to grow to US $235.06 billion by 2029, with a steady growth trend of 5.0% CAGR from 2022 to 2029.

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From the industry competition pattern, the global paint market concentration gradually increased. According to the data of financial media in the coating industry, in 2021, the cumulative sales revenue of the top 100 enterprises in the global coating industry accounted for 59.65% of the total revenue of the global coating enterprises, an increase of 1.17 percentage points compared with 2020, and the industry concentration has improved.

Among them, the sales revenue of the top 10 enterprises in the global paint industry accounted for 39.54% of the total revenue of the global paint enterprises, and accounted for 66.28% of the revenue of the top 100 enterprises in the world. According to the coating data, the top 5 companies in the world in 2021 are Shandwick, PPG, Akzonobel, Nippon Coatings and Lipmark, with market share of 9.74%, 8.21%, 5.30%, 4.34% and 2.98% respectively.