Global Paints & Coatings Market Competition: Top 15 Players in 2021

Feb. 9, 2022 - PRLog -- Paints & Coatings Market Competition: Acquisition Strategies and After Pandemic Strategies Made the Top Players to Gain Market Share in 2021

The journey from 2020 to 2021 for the coatings industry has been a remarkable one after the pandemic, where most of the coating manufacturers have prioritized their strategies not only to look after their employees' health agendas but also to provide efficient optimum operations in their production line & sales activities with a focus on sustainable & environmentally friendly products in the market. The year 2021 also has shown a good number of M&A activities (can check out our blog here (https://www.akiresearch.com/post/paints-coatings-acquisitions-2021) for details), and the top coatings companies have taken this opportunity to strengthen their product portfolio with either new technologies or gain market penetration in different regional or country market. According to AKI Research's latest market data research, the global paints & coatings market gained momentum with a y-o-y growth rate of over 6.3% in 2021 to reach more than USD 150.23 billion.

Read the full blog here: https://www.akiresearch.com/post/paints-coatings-market-s...

In 2020, the top 15 paints and coatings companies had a total market share of about 53.23%. In contrast, in 2021, the top 15 paints and coatings companies accounted for a total market share of approximately 58.52%, i.e., an increase of the market share of 5.29% among the top 15 players.

Sherwin-Williams continued to remain the top player in the global paints and coatings market in the second consecutive year, 2021; however, in 2021, the difference in the market share to the second-largest company PPG Industries got minimized, i.e., 0.79% in 2020 to 0.21% in 2021. As per the expansion strategy, Sherwin Williams has 85 new stores in 2021, compared to 16 new stores in 2020, and also announced in Aug 2021 to acquire Sika's European industrial coatings business, which will be completed in the year 2022. This acquisition will strengthen the Sherwin-Williams market position in the upcoming years.

PPG Industries accounted for the second-largest paints & coatings market share in the consecutive years of 2021. Because of its acquisition strategies, the company has gained a global market share of about 1.39% in 2021. The acquisitions of Ennis-Flint, Cetelon Lackfabrik GmbH, Wörwag, and Tikkurila were the key strengths for the company to gain market share as well as expertise in key technological areas. The expansion plans to increase the manufacturing capacity for packaging applications in Europe and powder coatings in Brazil will also strengthen their position in the upcoming years. In the recent news, PPG announced acquiring the powder coatings business of aronsisi spa, which aligns with their goal to have 40% of its sales by 2025 from sustainably advantaged products.