The 2023 Top Companies Report

The only truly global ranking of the top manufacturers of paint and coatings.

By Kerry Pianoforte, Editor



Coatings World is proud to bring the industry our annual Top Companies Report – the only truly global ranking of the top manufacturers of paint and coatings. Our editorial staff has worked diligently researching and interviewing companies to provide you with the most accurate ranking of paint and coatings manufacturers operating in the global industry.

Rankings are based on annual sales in U.S. dollars. For companies based outside the U.S., sales are translated into U.S. dollars using exchange rates from the company’s fiscal closing date. For privately held companies who choose not to disclose sales figures, our staff interviews different industry sources coupled with our own research to come up with an accurate estimate of annual sales. We profiled 73 companies in this report. All have sales of $100 million or more annually. Companies marked with an asterisk in the ranking on the following page represent Coatings World estimate.

After a busy acquisition period in 2022, 2023 was relatively quiet. In 2022, due to acquisitions, we removed five companies from the list. This year there was only one notable acquisition. Sherwin-Williams acquired Industria Chimica Adriatica S.p.A. (ICA), an Italian designer, manufacturer and distributor of industrial wood coatings. The business has annual sales of more than €150 million, with sales and operations globally, including production facilities in Italy and Poland. ICA has approximately 600 employees and will become part of the Sherwin-Williams Performance Coatings Group.

The Top Companies Report is intended to provide our readers with a snapshot of the industry’s most influential players.

We hope you will come away with a clearer insight into the future of this truly global and always evolving industry. If you are a paint and coatings manufacturer with sales of $100 million or more for fiscal 2022 and would like to be included in our Top Companies Report, contact me and I will add your company to the online version.

First Timers

None

Take-out Companies

ICA (acquired)
Origin Electric (paint and coatings sales)

2023 Top 20

01 PPG 
02 Sherwin-Williams 
03 AkzoNobel
04 Nippon Paint 
05 RPM 
06 Axalta 
07 BASF 
08 Asian Paints  
09 Kansai Paint 
10 Masco 
11 Jotun  
12 Hempel 
13 Benjamin Moore 
14 SKSHU 
15 Berger Paints
16 DAW 
17 KCC Corp. 
18 ICP Group 
19 Noroo Paint 
20 Beckers Group 

2023 Top Companies

01. PPG 17,700,000,000
02. Sherwin-Williams* 16,600,000,000
03. AkzoNobel 11,650,000,000
04. Nippon Paint 9,980,000,000
05. RPM 6,700,000,000
06. Axalta 4,900,000,000
07. BASF 4,550,000,000
08. Asian Paints 4,110,000,000
09. Kansai Paint 3,630,000,000
10. Masco 3,428,000,000
11. Jotun 2,618,000,000
12. Hempel 2,357,000,000
13. Benjamin Moore* 1,750,000,000
14. SKSHU Paints 1,645,000,000
15. Berger Paints 1,574,700,000
16. DAW* 1,400,000,000
17. KCC Corp. 1,262,000,000
18. ICP Group 894,000,000
19. Noroo Paint 776,000,000
20. Beckers Group 760,000,000
21. Chugoku Marine Paints 757,000,000
22. SK Kaken 729,000,000
23. TOA Paint  595,000,000
23. Maydos 602,000,000
24. Xiangjiang Paint Group 588,400,000
25. Brillux* 575,000,000
26. Dai Nippon Toryo 556,000,000
27. Carpoly 518,000,000
28. Kangnam Jevisco* 500,000,000
29. Mankiewicz 481,000,000
30. Shawcor* 475,000,000
31. Samhwa 465,000,000
32. Nihon Toksuhu* 460,000,000
33. National Paint Factories  458,000,000
34. AvIan 456,000,000
35. Teknos Group 433,000,000
36. CIN 424,000,000
37. Kelly-Moore* 400,000,000
38. Fujikura Kasei 388,000,000
39. Lanco Paints and Coatings (Blanco Group) 380,000,000
40. Cloverdale Paint 375,000,000
41. Bardese* 360,000,000
42. Tiger Coatings 353,000,000
43. Musashi Paint* 350,000,000
44. Flugger Group* 340,000,000
45. Weg 313,000,000
46. Meffert* 300,000,000
47. Pacific Paint Boysen* 290,000,000
48. RAR Holdings 287,000,000
49. Daoqum 258,000,000
50. Grebe* 245,000,000
51. Kapci Coatings 245,000,000
52. MIPA* 240,000,000
53. Diamond Vogel 225,000,000
54. Remmers* 220,000,000 55. Taiho Paint 211,000,000
55 Rock Paint 211,000,000
55. Taiho Paint 211,000,000
57. Bauhinia 209,000,000
58. Briolf Group 205,000,000
59. Sniezka 202,000,000
60. Tambour* 200,000,000
61. Dold Gruppe 200,000,000
62. Yasar* 190,000,000
63. Adler-Werk Lackfabric 171,000,000
64. Kikusui Chemical 169,000,000
65. Berlac Group* 160,000,000
66. Frei Lacke* 165,000,000
67. Shinto Paint* 165,000,000
68. Natoco* 150,000,000
69. Russian Coatings 148,000,000
70. Tnemec* 130,000,000
71. Kayalar Kimya* 120,000,000
72. Asahipem* 110,000,000
73. Tohpe* 100,000,000