2026 Global Top 10 Marine Coatings Brands List Released: Dominating 90% of the Global Market Share

Jotun stated in its latest annual report that, looking ahead to 2026, newbuilding shipyard activity remains at a peak, with major shipyards operating near full capacity. Benefiting from continued expansion of Chinese shipyard capacity, sales in the marine coatings segment are expected to remain strong in 2026. Dry-docking business is projected to grow modestly, with docking volumes anticipated to increase in 2026. Newbuilding, dry-docking, and offshore engineering sectors will continue facing pricing pressure. As more shipowners and vessel managers commit to reducing fuel consumption and associated emissions, demand for Jotun’s premium antifouling products and solutions is expected to sustain robust growth in the dry-docking market over the coming years. Kansai Paint reported sales of ¥37.802 billion for the first fiscal quarter of FY2027, up 16.0% year-on-year; marine coatings sales amounted to ¥32.555 billion, up 13.92% year-on-year. Sales of marine coatings in Japan, China, South Korea, Southeast Asia, and Europe & the Americas rose by 32.0%, 34.0%, −13.5%, 16.2%, and −3.7%, respectively. Kansai Paint noted that, within its core marine coatings business, newbuilding volumes showed steady growth—driven primarily by rising shipbuilding output in China. In the Japanese market, amid heightened uncertainty in raw material procurement and persistently rising raw material prices triggered by regional tensions in the Middle East, the company implemented price adjustments to secure stable raw material supply and fulfill its supply commitments—contributing significantly to the sharp sales growth. In the vessel repair segment, demand for high-performance antifouling hull coatings continues to rise, driven by the implementation of IMO fuel-efficiency regulations and global efforts to reduce CO₂ emissions from ships. CMP Group not only actively promoted sales of high-value-added products but also adopted rational pricing strategies aligned with raw material costs, thereby achieving overall sales growth. Sherwin-Williams reported net sales of $3.89 billion for the Paint Stores Group in Q2 2026, up 5.1% year-on-year—primarily attributable to price increases and modest volume growth. Net sales rose across all professional end-market segments, with protective and marine coatings markets posting double-digit percentage growth. PPG Industries reported a 3% organic sales increase in its Performance Coatings segment for Q2 2026, fueled by strong demand for aerospace, protective, and marine coatings. Organic sales in protective and marine coatings grew double digits year-on-year—the thirteenth consecutive quarter of volume growth—including above-market marine coatings volume growth in both the Asia-Pacific region and Europe. Nippon Paint’s Other Coatings business achieved sales revenue of ¥57.595 billion in H1 2026, up 13.31% year-on-year, with particularly strong growth in marine coatings. Performance data from multiple industry leaders collectively confirm that the marine coatings market is currently in an upward cycle marked by robust demand. However, not all companies benefited equally—market divergence has already become evident. According to financial reports, AkzoNobel’s Marine & Protective Coatings business recorded Q2 2026 sales of €385 million, down 7% year-on-year; organic sales declined by 2%, primarily due to lower volumes—marine coatings volumes dropped sharply year-on-year. For H1 2026, sales totaled €727 million, down 11% year-on-year.

2026 Global Top 10 Paint Manufacturers Ranking Released: Global Market Share Slightly Declined to 39.30%

In contrast, the Indian market demonstrates relatively strong growth resilience, with both volume and value expected to rise—though decorative coatings growth is slowing, industrial coatings performance remains robust. The Japanese market is projected to see volume decline but value growth driven by price hikes; the South Korean market faces declines in both volume and value. European markets, affected by economic uncertainty, are expected to continue contracting in major producing countries such as Germany and France. The Middle East region, directly impacted by the U.S.–Iran war, is forecast to experience a significant downturn in its coatings market. Latin America, meanwhile, is expected to achieve modest volume growth. First-quarter 2026 financial results from major paint manufacturers further corroborate this divergent landscape. Sherwin-Williams achieved net sales growth of 6.8% to $5.667 billion, driven by its strategic acquisition of BASF’s Brazilian decorative coatings business Suvinil; net profit rose 6.1%. PPG similarly benefited from strong organic growth in aerospace, protective, and marine coatings across Latin America, delivering a 7.0% net sales increase. Nippon Paint achieved 20.8% sales growth and a 44.3% increase in attributable net profit—fueled by M&A activity, favorable currency effects, higher volumes, and product mix optimization. Jotun’s underlying sales growth for the first four months of 2026 reached 10%, with operating profit surging 18.4%. Note: Jotun’s sales figures cover the first four months of 2026. However, not all enterprises shared in this growth. AkzoNobel reported a 9.0% year-on-year decline in Q1 2026 sales and a 13.08% drop in attributable net profit—attributable to weak volumes, adverse currency impacts, and asset divestitures. Axalta saw net sales dip slightly by 0.63% and net profit fall 8.08%. BASF’s coatings business recorded 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 paint manufacturers are taking decisive action to respond. AkzoNobel explicitly stated that, compared to the previous raw material price surge cycle, its current pricing response is faster and more resolute—announcing price increases ranging from mid-single digits to low double digits to fully offset inflationary pressures. Implementation is scheduled to roll out gradually in Q2 and take full effect in Q3. Jotun, Kansai, PPG, Sherwin-Williams, Nippon Paint, and Asian Paints have likewise confirmed implementing a series of mitigation measures—including product price hikes. This collective pricing adjustment will largely determine the final magnitude of value growth in the 2026 coatings market. Looking ahead, uncertainty remains the dominant theme. Jotun noted in its outlook that even if Middle Eastern tensions ease temporarily, supply chains can only recover gradually; high raw material prices and supply shortages are expected to persist throughout 2026, exerting continued pressure on margins. 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 Q2 organic sales and adjusted EPS to remain flat or grow at a low-single-digit rate.

Sherwin-Williams Releases Q2 2026 Financial Results

Jul 28, 2026

Sherwin-Williams reported Q2 2026 adjusted earnings of $3.70 per share, exceeding expectations, with revenue up 7.5% year-over-year to $6.79 billion driven by its Paint Stores Group.

AlphaStreet

2026-04-28

Sherwin-Williams: Q1 Earnings Snapshot

2026-04-28

Sherwin-Williams beats estimates but guides below consensus

2026-04-28

Sherwin-Williams Posts Q1 Adjusted EPS of $2.35, Beating Estimates

2026-04-28

Sherwin-Williams Posts Increases Across the Board in Q1

2026-04-28

Sherwin-Williams (SHW) Q1 2026 Earnings Transcript