Breaking News! Top 100 Paint Sales Ranking Released! Foreign Brands Account for Over 60% of Market Share!

Meanwhile, 12 companies—including PPG Industries, Lohua Paint & Coating, and Musashi Paint—recorded flat annual sales. These firms are mostly leaders in mature, niche segments where market penetration has already reached a high level; their operational focus has thus shifted from volume expansion to profit optimization and product portfolio upgrading, maintaining stable operations. In 2025, companies experiencing sales declines exhibited clear tiered characteristics—the magnitude of decline closely correlated with their sector positioning and market strategy. Slight declines were mainly observed among traditional industrial coating firms such as Kansai Paint, impacted by sluggish downstream demand from conventional construction machinery and traditional internal-combustion-engine vehicles, resulting in modest order contractions. Moderate declines concentrated among real-estate-chain coating brands—including Nippon Paint, Oriental Yuhong, Zijinghua, and Meitushish—whose sales fell within the 11%–20% range. On one hand, persistently weak new residential construction starts drastically reduced B2B project orders for architectural and waterproofing coatings; on the other, domestic leaders such as Skshu and Bader Group leveraged cost-effective offerings and comprehensive offline distribution networks to continuously erode the consumer-market share held by foreign and legacy players. Companies including Shinko Chemical Research Institute, Donglai Coatings, and Asia Creation suffered declines exceeding 30%, with Asia Creation’s sales plunging by as much as 82%. These firms heavily relied on real-estate project channels, lacked retail businesses to hedge risks, and faced structural weaknesses—including overly narrow product portfolios and insufficient competitiveness of low-end production capacity. During the industry’s adjustment phase, they proactively scaled back low-margin production lines to concentrate resources on premium business segments—ultimately triggering sharp sales drops. Overall, small- and medium-sized paint enterprises continue struggling with growth stagnation and shrinking market shares, while industry-leading enterprises steadily consolidate market share through advantages in production capacity, distribution channels, supply-chain efficiency, and technological capabilities—further accelerating resource concentration at the top. The traditional growth model—reliant on real-estate booms and scale-driven expansion—is gradually losing effectiveness. Instead, competitiveness in specialized niches, localized service capability, and R&D strength have become core drivers of sales growth, marking the industry’s formal entry into a new era of structural competition. Accelerated Domestic Substitution and Erosion of Foreign Brands’ Market Share According to incomplete statistics from CoatingProcurement.com, among the Top 100 Paint Sales Ranking for 2025, the combined sales volume of the 13 foreign enterprises listed totaled 15.037 million tons—a 12% year-on-year decline—and accounted for 60.2% of the Top 100’s total sales volume, down 2 percentage points from 2024. Although domestic substitution is gaining momentum and some homegrown paint enterprises are rising steadily, reliance on foreign paint companies remains severe in high-end markets. Among foreign enterprises reporting stable or positive growth, Sherwin-Williams achieved a 2% sales increase, demonstrating strong resilience in its industrial and transportation coating businesses; BASF Coatings rose 6%, sustaining its high-end market position thanks to technological barriers in OEM automotive coatings and premium industrial coatings; PPG Industries and Musashi Paint maintained flat sales, supported by high-barrier, stable-competition segments such as aerospace and specialty industrial coatings. Foreign enterprises suffering sales declines were predominantly focused on consumer architectural and real-estate supporting coatings. Nippon Paint’s sales plunged 16%; Shinko Chemical Research Institute plummeted 32%—traditional home-decoration coating markets are being persistently squeezed by domestic brands; KCC (Korea Kumho Petrochemical) and Sika declined 20% and 19%, respectively, hit doubly by the real-estate downturn and shrinking demand for waterproofing and architectural decoration coatings; AkzoNobel and Kansai Paint posted modest declines, as weakness in decorative coating businesses could not be fully offset by industrial coating performance.

Coating Finance | PPG Posts 'Zero Growth' in 2025—Stock Price Tumbles! Emergency 'Cost Scalpel' Initiative Launched—Can It Turn Things Around This Year?

On profitability, the company reported diluted earnings per share (EPS) of $1.34 and adjusted EPS of $1.51—slightly below the market’s consensus expectation of $1.58. However, net income surged dramatically, jumping from $2 million ($0.01 per share) in the prior-year period to $302 million. During this quarter, PPG continued returning value to shareholders, completing approximately $100 million in share repurchases. In Q4, PPG’s three core business segments delivered differentiated growth—with standout performance in key areas. The Global Architectural Coatings segment posted net sales growth of 8% to $951 million. Higher selling prices and favorable currency effects offset the impact of divesting its Russian architectural coatings business. EBITDA rose 14% to $164 million, with margins improving to 17.2%. Regionally, organic sales in Latin America and the Asia-Pacific region grew at solid single-digit rates; retail sales in Mexico remained robust, and project-related sales continued recovering—though European volume declines partially offset overall growth momentum. The Performance Coatings segment recorded net sales growth of 5% to $1.32 billion, with organic sales up 3%. Highlights across sub-segments included record-high aerospace coating sales—delivering double-digit organic growth; protective and marine coatings achieved an eleventh consecutive quarter of volume growth, with marine sales in the Asia-Pacific region outpacing broader market growth. However, demand for automotive refinish coatings declined by a high single-digit percentage, partially offsetting these gains. EBITDA for this segment declined 4% year-on-year, with margins slipping to 21.1%, primarily due to lower volumes and increased investment spending related to growth initiatives. The Industrial Coatings segment posted net sales growth of 3% to $1.64 billion, with volumes up 5%, driven by market share gains. Sub-segment performance outpaced the industry: automotive OEM coatings net sales rose 6%, and packaging coatings achieved double-digit organic growth. Segment EBITDA rose 6% year-on-year, with margins slightly improved over last year—driven primarily by higher volumes and productivity enhancements. Tim Knavish, PPG’s Chairman and CEO, stated: “Our fourth quarter delivered our strongest organic growth of the full year—a 3% increase driven by contributions from both volume and price—and all regions achieved volume growth. For the full year, double-digit growth in aerospace, protective, and marine coatings—as well as high-single-digit growth in packaging coatings—propelled the company’s steady development. Notably, the Performance Coatings segment achieved record highs in both sales and earnings.”

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