Rankings | Top Ten Global Paint Manufacturers: No Chinese Companies Make the List; Industry Leader’s Revenue Exceeds RMB 140 Billion

Nippon Paint continues to rank fourth globally and first in Asia, with last year’s sales revenue reaching USD 9.769 billion, up 1.59% year-on-year. This growth was primarily driven by its acquisition of AOC—completed in March last year for USD 2.194 billion. Founded in August 2021 and headquartered in Tennessee, USA, AOC is a global leader in CASE (Coatings, Adhesives, Sealants, and Elastomers) and colorant solutions, operating 14 production facilities. Despite being consolidated into Nippon Paint’s financial statements for only ten months, AOC contributed 8.9% of the group’s total revenue, with an operating profit margin as high as 34.1%, becoming a key driver behind the group’s overall profitability improvement. Although China recorded negative growth, it remains Nippon Paint’s largest single market, accounting for 26.5% of group revenue—and remains a vital source of profit. Revenue contributions from other regions—Nipsei Group (excluding China), Dulux Group, Japan, and the Americas—stood at 23.5%, 22.8%, 11.6%, and 6.7%, respectively. AkzoNobel ranked third, with sales revenue rising 2.49% year-on-year to USD 11.514 billion. On November 18, 2025, this Dutch company announced a merger agreement with Axalta. If successfully completed by late 2026 or early 2027, the merged entity would surpass PPG to become the world’s second-largest paint company, gaining leading positions across multiple segments—including automotive, architectural, industrial, and marine coatings. PPG ranked second with sales revenue of USD 14.605 billion. Established in 1883 and headquartered in Pittsburgh, Pennsylvania, USA, PPG operates and conducts R&D in over 50 countries worldwide, dominating the industrial coatings sector. Since establishing its first factory in Tianjin in 1994, PPG has cultivated a robust presence in China for over three decades, now operating 20 production bases and eight R&D and technical support centers—building a complete industry chain covering R&D, manufacturing, and technical services. Sherwin-Williams retained the top spot for the seventh consecutive year, generating USD 21.217 billion (approximately RMB 144.5 billion) in sales revenue—a 8.15% decline year-on-year. This dip stemmed mainly from the exclusion of revenues from painting tools and other non-paint businesses. Its market share consequently fell from 11.41% to 10.54%, yet its leadership position remains unchallenged.

Strategic Divergence Among Paint Giants: Sherwin-Williams Downsizes Manufacturing in Jamaica; PPG Invests USD 1.9 Billion to Expand Production in North America

Huizheng Information, August 10: Jamaica Broadcasting Corporation confirmed in its news report that Sherwin-Williams has officially closed its paint manufacturing facility located in White Marl, St. Catherine Parish. Recently, PPG held a groundbreaking ceremony in Delaware City, Ohio, for its expansion project targeting automotive coatings production. The contrast between one plant’s closure and another’s expansion vividly highlights the divergent strategic directions pursued by these two industry giants. Sherwin-Williams: Caribbean Contraction—from Manufacturing to Distribution On July 31, 2026, the White Marl plant completed its final production shift. This facility—previously producing architectural, automotive, and industrial coatings—has formally exited the manufacturing lineup. Sherwin-Williams stated that this decision followed a comprehensive review of its global operations and long-term strategy, and was unrelated to the plant’s performance or employee conduct. Post-closure, products previously manufactured there—including the ‘Kem’ series—will be produced at other Sherwin-Williams plants and imported into Jamaica via existing supply chains. The company did not disclose which specific facilities will absorb this capacity. The White Marl site will not be fully abandoned: the distribution center there will remain operational, fulfilling warehousing and logistics functions. Sherwin-Williams’ distribution facilities in St. Catherine and Montego Bay continue functioning normally, and all 24 company-owned retail stores nationwide remain open. Decommissioning of production equipment will proceed in phases, expected to conclude by 2027. Regarding personnel, 21 employees entered consultation procedures: seven were reassigned internally, while 14 departed. Following these adjustments, Sherwin-Williams still employs approximately 180 people in Jamaica, supporting distribution, retail, and management functions. According to Sherwin-Williams’ 2025 annual report filed with the U.S. Securities and Exchange Commission (SEC), Jamaica previously hosted both a Consumer Brands Group manufacturing plant and a distribution facility. This restructuring effectively repositions Jamaica within Sherwin-Williams’ regional strategy—from a dual-function node (“production + distribution”) to a service-oriented node (“distribution + retail”). PPG: A 60-Year-Old Plant’s USD 1.9-Billion Expansion In contrast to Sherwin-Williams’ contraction, PPG chose to significantly bolster its manufacturing capabilities in North America. The PPG Delaware plant first commenced operations in 1965 and played a pivotal role in developing the local industrial park; it recently celebrated its 60th anniversary in August last year. This expansion involves a total investment exceeding USD 280 million (approximately RMB 1.9 billion), adding roughly 100,000 square feet of new production space to the existing 400,000-square-foot facility.

Weekly Recap: Axanzo & Sherwin-Williams Top This Week’s Stories

1 day ago

Coatings World's weekly recap highlights the AkzoNobel-Axalta merger named "Axanzo" and Sherwin-Williams' facility expansion as top stories. Updates also cover strategic acquisitions and investments by BASF, Dörken Group, and AkzoNobel.

Coatings World

2026-10-17

Weekly Recap: Axanzo & Sherwin-Williams Top This Week’s Stories

Weekly Recap: Axanzo & Sherwin-Williams Top This Week’s Stories

FAQ