2026 Global Top Ten Coatings Manufacturers Ranking Released: Global Market Share Slightly Declines to 39.30%

In contrast, the Indian market demonstrates relatively strong growth resilience, with both sales volume and value projected to increase—though decorative coatings growth is slowing, industrial coatings are performing robustly. Japan’s market is expected to see declining sales volume but rising value due to price hikes; South Korea faces declines in both volume and value. Europe’s coatings market—particularly in major producing countries such as Germany and France—is anticipated to continue contracting amid economic uncertainty. The Middle East region, directly impacted by the U.S.-Iran war, is projected to experience a significant downturn in its coatings market. Latin America, however, is expected to achieve modest volume growth. The first-quarter 2026 financial results of major coatings companies further confirm this divergent landscape. Sherwin-Williams achieved a 6.8% year-on-year increase in net sales to USD 5.667 billion—and a 6.1% rise in net income—thanks to its strategic acquisition of BASF’s Brazilian decorative coatings business, Suvinil. PPG similarly benefited from strong organic growth in aerospace, protective, and marine coatings across Latin America, posting a 7.0% increase in net sales. Nippon Paint delivered a 20.8% surge in sales and a 44.3% jump in net profit attributable to shareholders, driven by acquisitions, favorable currency effects, higher sales volume, and product mix optimization. Jotun reported a 10% base sales growth in the first four months of 2026 and an 18.4% increase in operating profit. Note: Jotun’s revenue figure covers the first four months of 2026. However, not all companies shared in this growth. AkzoNobel recorded a 9.0% year-on-year decline in sales and a 13.08% drop in net profit attributable to shareholders, weighed down by weak sales volume, adverse currency impacts, and asset divestitures. Axalta saw net sales dip slightly by 0.63% and net profit fall by 8.08%. BASF’s coatings business posted a 5.9% sales decline and a sharp drop in EBITDA. These markedly divergent financial performances reflect differences in corporate strategy, product portfolio structure, and regional footprint. Notably, the U.S.-Iran war has pushed up international crude oil prices, accelerating raw material cost inflation—a common challenge confronting the entire industry. Major coatings giants are taking decisive action in response. AkzoNobel explicitly stated that, compared to the previous raw material price hike cycle, its pricing response this time is faster and more resolute: it plans to raise selling prices from mid-single digits to low double digits to fully offset inflationary pressures, with implementation rolling out gradually in Q2 and fully effective by Q3. Jotun, Kansai, PPG, Sherwin-Williams, Nippon Paint, and Asian Paints have likewise confirmed implementing a series of mitigation measures—including price increases. This collective pricing adjustment will significantly influence the final magnitude of value growth in the 2026 coatings market. Looking ahead, uncertainty remains the dominant theme. Jotun notes in its outlook that even if Middle Eastern tensions ease temporarily, supply chains can only gradually return to normal; high raw material prices and supply shortages are expected to persist throughout 2026, exerting continued pressure on profitability. Sherwin-Williams forecasts mid-single-digit percentage growth in consolidated net sales for Q2 2026, and low- to mid-single-digit growth for the full year; PPG expects organic sales and adjusted EPS for Q2 to remain flat or grow at a low single-digit rate.

The World’s Largest Automotive Refinish Coatings Brand Has Changed Hands: PPG Surpasses Axalta for the First Time

On August 10, 2026, TuJie—the China-based professional financial media outlet dedicated to the coatings industry—released the “2026 Global Top Ten Automotive Refinish Coatings Brands Ranking” (Note: Click here to view the full ranking). On this globally unique, authoritative ranking specific to the automotive refinish coatings sector, a historic shift occurred quietly: U.S.-based PPG claimed the top spot for the first time, with USD 2.064 billion in sales revenue and an 18.76% global market share; long-standing leader Axalta slipped to second place, reporting USD 2.051 billion in sales revenue and an 18.65% global market share. Though the gap between them is razor-thin—just USD 13 million and 0.11 percentage points—this 0.11-point margin marks the formal handover of the title of world’s largest automotive refinish coatings brand. For several years, Axalta had been widely regarded as the undisputed leader in the automotive refinish coatings segment. With over 150 years of history in the coatings industry, Axalta serves more than 90,000 body shops across over 140 countries worldwide. Yet in fiscal year 2025, this century-old company encountered a growth bottleneck. Its annual financial report shows net sales of USD 5.12 billion—a 3% decline year-on-year—with automotive refinish coatings sales totaling USD 2.051 billion, down sharply by 5.2% year-on-year. Although the company achieved a record-high adjusted EBITDA margin of 22% through product mix optimization and cost control, persistent volume erosion eroded its scale advantage in this core business segment. Meanwhile, Axalta is undergoing large-scale consolidation within the global coatings industry—the equal merger with AkzoNobel is underway—which may have partially diverted management’s focus and resources away from competitive efforts in the refinish coatings market. In stark contrast to Axalta’s volume contraction, PPG demonstrated greater resilience in its refinish coatings business. Although PPG Industries’ total annual net sales for 2025 stood at USD 15.875 billion—essentially flat year-on-year—and its automotive refinish coatings organic sales declined by a mid-single-digit percentage due to lower volumes, price increases partially offset this impact. It was precisely through this “price-for-volume” strategy that PPG managed to stabilize its revenue base amid fluctuating market demand. According to PPG’s publicly disclosed financial community materials, its automotive refinish coatings business accounted for approximately 13% of group revenue in 2025—equating to USD 2.064 billion. Additionally, in early 2026, PPG acquired Dutch collision repair spray equipment manufacturer EMM International—a move that could further strengthen its integrated competitiveness across the refinish coatings value chain.

Axalta Schedules Third Quarter 2026 Earnings Conference Call

6 days ago

Axalta Coating Systems announced its third-quarter 2026 financial results will be released on October 29, 2026, followed by a conference call with CEO Chris Villavarayan and CFO Carl Anderson.

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Axalta Schedules Third Quarter 2026 Earnings Conference Call

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Axalta Schedules Third Quarter 2026 Earnings Conference Call

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2026-04-02

Axalta Coating Systems Ltd (AXTA) Stock Price Down 3.63% on April 2

2026-04-04

Vanguard Strategic Equity Fund Axalta Coating Systems Holdings History

2026-04-04

Perpetual Ltd Purchases 268,552 Shares of Axalta Coating Systems Ltd.