ASEAN의 페인트 및 코팅 시장 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, ASEAN paints and coatings market size in 2026 is estimated at USD 7.78 billion, growing from 2025 value of USD 7.41 billion with 2031 projections showing USD 9.92 billion, growing at 4.97% CAGR over 2026-2031.

This report is Segmented by Resin Type (Acrylics, Polyurethane, and More), Technology (Solvent-Borne Coatings, Water-Borne Coatings, Other Technologies), Application (Architectural/Decorative, Protective, and More), and Geography (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of ASEAN Countries). The Market Forecasts are Provided in Terms of Value (USD).

ASEAN Paints And Coatings Market Trends and Insights

Rapid Urbanization and Infrastructure Development

Large-scale public-works programs are boosting the ASEAN paints and coatings market as governments deploy record budgets to roads, rail and affordable housing. Vietnam has earmarked USD 30 billion for multi-year transport corridors and energy assets expected to absorb high-build architectural and protective coatings. Thailand's Eastern Economic Corridor continues to channel more than half of national construction outlays into megaprojects that require corrosion-resistant primers, traffic-marking paints and waterproof membranes. Indonesia's Proyek Strategis Nasional portfolio likewise links maritime gateways and industrial estates, lifting demand for marine hull coatings and long-life epoxies that mitigate maintenance downtime. Parallel demographic shifts-urban migration and the rise of middle-income households-are enlarging the customer base for premium interior emulsions, textured finishes and moisture-barrier topcoats. The current project pipeline provides multi-cycle visibility, supporting stable procurement plans for resin suppliers through at least 2030.

Expansion of the Automotive Sector

The ASEAN paints and coatings market benefits from automakers' shift toward regional electric-vehicle hubs. Chinese original-equipment manufacturers (OEMs) have allocated more than USD 1.4 billion to plants in Thailand and Indonesia that will assemble batteries, passenger cars and commercial vans. Thailand's EV3.5 scheme alone targets annual output of up to 525,000 units by 2027, driving demand for cathodic-electrocoat primers, low-temperature powder topcoats and clearcoats that manage electromagnetic interference. Indonesia is charting a similar path, eyeing 2 million-unit capacity toward the mid-2030s. As production lines ramp, tier-one suppliers adopt UV-cured coatings that boost throughput while cutting energy bills, reinforcing the positive volume trajectory for automotive segments.

Volatile Petro-Feedstock Prices

Soft global demand and capacity surges in China have kept ethylene and propylene spreads under pressure, compressing margins for resin and solvent producers that supply the ASEAN paints and coatings market. Crude-linked monomers such as styrene, acrylates and glycols remain susceptible to geopolitical shocks, creating quarterly cost swings that smaller manufacturers struggle to absorb. European suppliers grappling with elevated gas prices have passed through mark-ups on imported additives, further squeezing formulators in Indonesia and Thailand. Steel and cement price volatility adds another layer of complexity because large architectural projects often bundle coating bids with structural materials. Although most market leaders hedge raw materials, sustained volatility reduces budget predictability for downstream construction contractors.

Other drivers and restraints analyzed in the detailed report include:

1. Growing Foreign Investments in ASEAN Region
2. Expansion of Industrial Manufacturing Creating Demand
3. Chronic Skilled-Painter Shortage

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Acrylic resins underpinned 41.12% of ASEAN paints and coatings market share in 2025, reflecting their compatibility with both water-borne and solvent-cut systems, excellent color retention and rapid-dry properties in tropical climates. They will grow the fastest, at 6.83% CAGR, as formulators exploit core-shell morphology and silicone-modified grades to raise dirt pick-up resistance. The ASEAN paints and coatings market size attributable to acrylic binders could approach USD 4.52 billion by 2031 on sustained residential repaint cycles. Polyurethanes hold a smaller but strategic niche in automotive topcoats and marine hull finishes where gloss retention and chemical resistance are paramount. Polyester resins remain workhorses for coil and roof coatings because of their cost-performance equilibrium, while alkyds cater to rural housing and anticorrosive primers where price outweighs lifespan.

Innovation pipelines are robust: researchers achieved 89.87% corrosion-inhibition efficiency in epoxy matrices modified with organic nanofillers, pushing epoxies into lighter gauge steel structures. Manufacturers are also tailoring acrylic emulsions with ambient-crosslinking aziridines that deliver polyurethane-like hardness without isocyanates. As petrochemical upstreams widen monomer supply, resin formulators gain pricing leverage that can be passed downstream, keeping acrylic platforms competitively priced against specialty polyurethanes.

Complete Report Scope:

• By Resin Type
  • Acrylics
  • Polyurethane
  • Polyester
  • Other Resin Types (Alkyds, Vinyl, etc.)
• By Technology
  • Solvent-borne Coatings
  • Water-borne Coatings
  • Other Technologies (Powder Coatings, Radiation Cured (UV, EB), etc.)
• By Application
  • Architectural / Decorative
  • Protective
  • Wood
  • Automotive
  • Marine
  • Packaging
• By Geography
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of ASEAN Countries

List of Companies Covered in this Report:

1. 4 Oranges
2. Akzo Nobel N.V.
3. Asian Paints Limited
4. Asian Paints PPG Pvt. Ltd.
5. Avian Brands
6. Axalta Coating Systems, LLC
7. BASF
8. Berger Paints India
9. Davies Paints Philippines Inc.
10. Haymes
11. Jotun
12. Kansai Paint Co., Ltd.
13. Nippon Paint Holdings Co., Ltd.
14. Pacific Paint (BOYSEN) Philippines, Inc.
15. Propanraya
16. The Sherwin-Williams Company
17. TOA Paint (Thailand) Public Company Limited

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Rapid Urbanization and Infrastructure Development
  • 4.2.2 Expansion of the Automotive Sector
  • 4.2.3 Growing Foregn Investments in ASEAN Region
  • 4.2.4 Expansion of Industrial Manufacturing Creating Demand
  • 4.2.5 Increasing Demand for Premium Asthetics
• 4.3 Market Restraints
  • 4.3.1 Volatile Petro-Feedstock Prices
  • 4.3.2 Chronic Skilled-Painter Shortage
  • 4.3.3 Delayed Harmonisation of ASEAN Chemical Regulations
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Threat of New Entrants
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Bargaining Power of Suppliers
  • 4.5.4 Threat of Substitute Products
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Value)

• 5.1 By Resin Type
  • 5.1.1 Acrylics
  • 5.1.2 Polyurethane
  • 5.1.3 Polyester
  • 5.1.4 Other Resin Types (Alkyds, Vinyl, etc.)
• 5.2 By Technology
  • 5.2.1 Solvent-borne Coatings
  • 5.2.2 Water-borne Coatings
  • 5.2.3 Other Technologies (Powder Coatings, Radiation Cured (UV, EB), etc.)
• 5.3 By Application
  • 5.3.1 Architectural / Decorative
  • 5.3.2 Protective
  • 5.3.3 Wood
  • 5.3.4 Automotive
  • 5.3.5 Marine
  • 5.3.6 Packaging
• 5.4 By Geography
  • 5.4.1 Indonesia
  • 5.4.2 Malaysia
  • 5.4.3 Philippines
  • 5.4.4 Singapore
  • 5.4.5 Thailand
  • 5.4.6 Vietnam
  • 5.4.7 Rest of ASEAN Countries

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles {(includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)}
  • 6.4.1 4 Oranges
  • 6.4.2 Akzo Nobel N.V.
  • 6.4.3 Asian Paints Limited
  • 6.4.4 Asian Paints PPG Pvt. Ltd.
  • 6.4.5 Avian Brands
  • 6.4.6 Axalta Coating Systems, LLC
  • 6.4.7 BASF
  • 6.4.8 Berger Paints India
  • 6.4.9 Davies Paints Philippines Inc.
  • 6.4.10 Haymes
  • 6.4.11 Jotun
  • 6.4.12 Kansai Paint Co., Ltd.
  • 6.4.13 Nippon Paint Holdings Co., Ltd.
  • 6.4.14 Pacific Paint (BOYSEN) Philippines, Inc.
  • 6.4.15 Propanraya
  • 6.4.16 The Sherwin-Williams Company
  • 6.4.17 TOA Paint (Thailand) Public Company Limited

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-need Assessment
• 7.2 Growing Innovations on Eco-Friendly Paints and Coatings