The coatings market in the Asia-Pacific region is less concentrated, and the market is divided up by many companies!

The Asia-Pacific region occupies 50% of the global coatings market

The Asia-Pacific region is the main production area of global coatings, and it is also the world's largest market for coatings. Affected by the epidemic in 2020, major paint producing countries such as Japan, South Korea, and India all declined last year, and the entire Asia-Pacific region’s paint market declined. The annual paint sales were US$92 billion, accounting for 49.0% of global paint sales. Nearly 50% of the coatings market is in Asia Pacific.

Low concentration of coatings market in the Asia-Pacific region

From the perspective of corporate sales, the coatings market in the Asia-Pacific region is fragmented and divided by many companies. Among them, the TOP50 coating companies in the Asia-Pacific region have accumulated sales of 29.06 billion U.S. dollars in their coatings business in 2020, accounting for 15.48% of global coatings sales and only 31.59% of coatings sales in the Asia-Pacific region.

There is a big gap between top companies

From the perspective of the scale distribution of TOP50 companies in the Asia-Pacific region, there is a large gap between companies in terms of scale. Among them, only Nippon Paint is the only company with sales of more than US$4 billion; 2 companies with sales between US$2 and 4 billion are basically maintained at around US$3 billion; and 2 companies with sales between US$1 and 2 billion There are 10 companies between 500 million and 1 billion U.S. dollars, and most of the companies have sales below 500 million U.S. dollars.