CHEM Research reports that collectively, the top 11 global manufacturers of paints and coatings increased their sales volume by approximately 14% in the first quarter of 2021 compared to 2020. The varying growth patterns were influenced by the companies’ product mix sold (decorative paints versus industrial coatings), geographic sales focus and acquisition activities.

Asian Paints and Nippon Paint recorded the highest volume-related growth in the first quarter of 2021. A strong regional focus on Asia combined with a significant share of the decorative paint market segment boosted this growth. Thus, both companies also exceeded by far their pre-corona sales volumes of Q1 2019.

Akzo Nobel’s and Masco’s sales volumes increased at high double-digit rates. Akzo Nobel benefitted from its large share of the decorative paint market and significant business in Asia, while Masco gained from the construction and renovation boom in the USA.

More than half of the companies among the TOP 11 expanded their volumes at single-digit rates. PPG reached additional volume through business acquisition. RPM was the only company showing volume loss.

Further company details and an analysis of the global paint and coatings market are provided in CHEM Research’s Executive Review entitled “The TOP 11 Global Paint and Coating Producers” published semi-annually (www.chem-research.com/studies).