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 market 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. Companies with modest declines were primarily traditional industrial coating suppliers such as Kansai Paint, whose orders shrank slightly due to sluggish downstream demand from conventional construction machinery and traditional internal-combustion-engine vehicles. Firms with moderate declines were 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 engineering orders for architectural and waterproofing coatings; on the other, domestic industry leaders—including SKSHU and BADESI—leveraged competitive pricing and comprehensive offline distribution networks to continuously erode the consumer-market share held by foreign and legacy players. Companies such as Shinko Chemical Research Institute, Donglai Coatings, and Asia Create experienced sales drops exceeding 30%, with Asia Create’s decline reaching as high as 82%. These firms heavily relied on real-estate engineering channels, lacked retail businesses to hedge risks, and suffered from narrow product portfolios and insufficient competitiveness of low-end production capacity. During the industry adjustment phase, they proactively scaled back low-margin production lines and refocused on premium offerings—ultimately resulting in sharp sales contractions. Overall, small- and medium-sized paint enterprises continue to struggle with growth and face ongoing market-share erosion, while industry-leading enterprises—backed by advantages in production capacity, distribution channels, supply-chain efficiency, and technological capability—continue consolidating market share. Industry resources are further concentrating at the top. The traditional development model—reliant on real-estate-driven growth and scale expansion—is gradually losing effectiveness. Instead, competitiveness in niche segments, localized service capabilities, 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: Foreign Paint Companies’ Market Share Eroding According to incomplete statistics from CoatingProcurement.com, among the Top 100 Paint Sales List for 2025, the combined sales volume of the 13 foreign enterprises totaled 15.037 million tons—a 12% year-on-year decline—and accounted for 60.2% of the Top 100’s total sales, down 2 percentage points from 2024. Although domestic substitution is accelerating 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 posted a 2% sales increase, demonstrating strong resilience in its industrial and transportation coating businesses; BASF Coatings rose 6%, sustaining its high-end market position through technological barriers in OEM automotive and premium industrial coatings; PPG Industries and Musashi Paint maintained flat sales, supported by high-barrier, stable-competition sectors such as aerospace and specialty industrial coatings. Foreign enterprises recording sales declines were all concentrated in the residential architectural and real-estate supporting segments. Nippon Paint’s sales plunged 16%; Shinko Chemical Research Institute plummeted 32%—traditional home-decoration coating markets are being continuously squeezed by domestic brands; KCC (Korea Kumho Petrochemical) and Sika declined 20% and 19%, respectively, hit by dual pressures from the property downturn and shrinking demand for waterproofing and architectural decoration coatings; AkzoNobel and Kansai Paint saw slight declines, as weakness in decorative coating businesses could not be fully offset by their industrial coating operations.

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 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 the fourth quarter, PPG’s three core business segments delivered differentiated growth—with standout performance in key areas. The Global Architectural Coatings segment achieved 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, lifting the segment’s margin to 17.2%. Regionally, organic sales in Latin America and the Asia-Pacific region grew at a high single-digit rate; retail sales in Mexico remained robust, and project-related sales continued recovering—only Europe’s volume decline partially offset overall growth momentum. The Performance Coatings segment posted 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 sales growth for the 11th consecutive quarter, with marine sales growth in the Asia-Pacific region outpacing the broader market. However, demand for automotive refinish coatings declined by a high single-digit percentage, partially offsetting these gains. Segment EBITDA declined 4% year-on-year, and its margin slipped to 21.1%, primarily due to lower volumes and increased investment spending related to growth initiatives. The Industrial Coatings segment recorded net sales growth of 3% to $1.64 billion, with volume growth of 5%, driven mainly by market share gains. Sub-segment performance outperformed the industry: automotive OEM coating net sales rose 6%, and packaging coatings achieved double-digit organic sales growth. Segment EBITDA increased 6% year-on-year, and its margin improved slightly versus the prior year—driven primarily by higher volumes and productivity enhancements. Tim Knavish, Chairman and CEO of PPG, 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—supported the company’s steady progress. Notably, the Performance Coatings segment achieved new highs in both sales and earnings.”

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