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INDONESIA PAINTS & COATINGS MARKET FORECAST 2023-2030

Indonesia Paints & Coatings Market by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, Other Resin Types) Market by Technology (Waterborne, Solvent-borne, Powder Coatings, High Solids, Radiation Cured, Other Technologies) Market by Application (Aerospace, Industrial Coating, Wood Coating, Protective Coating, Marine Coating, Refinish Automotive, Automotive (OEM), Packaging Coating, Electronic Coating, Architectural (Interior/exterior), Special Coating)

SCOPE OF THE REPORT


MARKET OVERVIEW

The Indonesia paints & coatings market is estimated to grow with a CAGR of 6.47% during the forecasting years of 2023-2032, acquiring a revenue share of $4239.93 million by 2030.

The market growth in Indonesia is fuelled by key drivers, such as the economic reforms introduced by the government, the rapidly-emerging construction industry, as well as the strong demand from the food and beverage (F&B) packaging sector.

Indonesia-Paints-Coatings-Market

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Indonesia is the largest economy in Southeast Asia as well as the tenth-largest economy globally in terms of PPP. Additionally, Indonesia has been aiming to spend around $40 billion in order to extend Jakarta’s metro network, poised to bolster the country’s construction industry. The country is also drafting ambitious plans for over $400 billion in building projects, from the construction of 25 airports to new power plants in the upcoming years. In 2021, the nation announced the One Avenue Mixed-Use Development construction with an investment of approximately $350 million. The project entails the construction of mixed-use development on 5 hectares of land, constituting four towers of luxury apartments as well as an office building in Batam, Riau Islands. This project is expected to be finished by the first quarter of 2025. 

On the other hand, in September 2020, Mitsubishi Corporation, along with Temasek Holding, proposed to build a smart city 25 km southwest of Jakarta. The smart city will include shopping centers, medical facilities, and homes with the aim of accommodating 40,000 to 60,000 permanent residents. Furthermore, as per the Cabinet Secretariat of The Republic of Indonesia, in 2020, the government has planned to renovate around 2,200 low-quality houses in the eastern Indonesian province, with an overall budget of IDR 38.5 billion. Out of this, IDR 17.5 million is allocated to renovate houses. Hence, these factors are set to fuel the demand for paints & coatings in Indonesia, subsequently propelling the market growth during the forecast period. 

The Indonesia paints & coatings market is segmented into technology, application, and resin type. The technology segment includes waterborne, solvent-borne, powder coatings, high solids, radiation cured, and other technologies. Solvent-borne paints are produced with liquefying agents that evaporate during a chemical reaction with oxygen. The air around a solvent-borne coating helps accelerate the reaction, thus minimizing the drying time.

In addition, solvent-borne coatings are less vulnerable to ecological conditions, such as humidity and temperature, compared to water-based coatings, during the curing phase. This represents a major advantage, making solvent-based coatings preferable in various applications.

Major players operating in the Indonesia paints & coatings market include Jotun Group, Kansai Paint Co Ltd, Nippon Paint Holdings Co Ltd, etc. 

Jotun Group, a Norwegian chemical company, primarily deals with decorative paints as well as performance coatings (protective, marine, and powder coatings). With a presence in more than 100 countries globally, the company has 64 companies in 45 nations, and 40 production facilities across 24 countries. The company manufactures, sells, and distributes exterior and interior paints to professionals as well as consumers globally. Jotun Group is also the world’s leading provider of marine coatings to ship owners and management companies for sea stock, dry-dock, and new buildings.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2030
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Resin Type, Technology, Application
Countries AnalyzedIndonesia
Companies AnalyzedAkzo Nobel NV, Asian Paints Limited, Berger Paints India Limited, Jotun Group, Kansai Paint Co Ltd, Nippon Paint Holdings Co Ltd, PPG Industries Inc, The Sherwin-Williams Company

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
    5. MAJOR MARKET FINDINGS
      1. BIOCIDES ARE BEING USED IN PAINTS TO ENHANCE LONGEVITY
      2. PAINT MANUFACTURING COMPANIES USE LOW/ZERO VOLATILE ORGANIC COMPOUNDS TO ENSURE SAFE PAINT USE
      3. GLOBAL EXPANSION OF THE PAINTS & COATINGS MARKET FUELED BY RISING M&A ACTIVITY
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. DEVELOPMENTS IN CONSTRUCTION AND PROPERTY SECTORS
      2. THRIVING FURNITURE SECTOR
      3. DEMAND FOR WATERBORNE PAINTS
      4. INTRODUCTION OF PERSONALIZED SOLUTIONS
    2. KEY RESTRAINTS
      1. ENVIRONMENTAL CONCERNS
      2. UNCERTAINTY IN RAW MATERIAL PRICES
      3. REGULATORY CHALLENGES
      4. GEOPOLITICAL TENSIONS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. VALUE CHAIN ANALYSIS
  5. MARKET BY RESIN TYPE
    1. ACRYLIC
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    2. POLYESTER
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    3. ALKYD
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    4. EPOXY
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    5. POLYURETHANE
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    6. OTHER RESIN TYPES
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
  6. MARKET BY TECHNOLOGY
    1. WATERBORNE
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    2. SOLVENT-BORNE
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    3. POWDER COATINGS
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    4. HIGH SOLIDS
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    5. RADIATION CURED
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    6. OTHER TECHNOLOGIES
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
  7. MARKET BY APPLICATION
    1. AEROSPACE
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    2. INDUSTRIAL COATING
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    3. WOOD COATING
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    4. PROTECTIVE COATING
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    5. MARINE COATING
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    6. REFINISH AUTOMOTIVE
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    7. AUTOMOTIVE (OEM)
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    8. PACKAGING COATING
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    9. ELECTRONIC COATING
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    10. ARCHITECTURAL (INTERIOR/EXTERIOR)
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
    11. SPECIAL COATING
      1. MARKET FORECAST
      2. SEGMENT ANALYSIS
  8. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS
    2. COMPANY PROFILES
      1. AKZO NOBEL NV
      2. ASIAN PAINTS LIMITED
      3. BERGER PAINTS INDIA LIMITED
      4. JOTUN GROUP
      5. KANSAI PAINT CO LTD
      6. NIPPON PAINT HOLDINGS CO LTD
      7. PPG INDUSTRIES INC
      8. THE SHERWIN-WILLIAMS COMPANY

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – PAINTS & COATINGS

TABLE 2: RAW MATERIALS

TABLE 3: INDONESIA PAINTS & COATINGS MARKET, BY RESIN TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4: INDONESIA PAINTS & COATINGS MARKET, BY RESIN TYPE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 5: INDONESIA PAINTS & COATINGS MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 6: INDONESIA PAINTS & COATINGS MARKET, BY TECHNOLOGY, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 7: INDONESIA PAINTS & COATINGS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8: INDONESIA PAINTS & COATINGS MARKET, BY APPLICATION, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 9: LIST OF MERGERS & ACQUISITIONS

TABLE 10: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 11: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 12: LIST OF BUSINESS EXPANSIONS

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: VALUE CHAIN ANALYSIS

FIGURE 7: INDONESIA PAINTS & COATINGS MARKET, GROWTH POTENTIAL, BY RESIN TYPE, IN 2022

FIGURE 8: INDONESIA PAINTS & COATINGS MARKET, BY ACRYLIC, 2023-2030 (IN $ MILLION)

FIGURE 9: INDONESIA PAINTS & COATINGS MARKET, BY POLYESTER, 2023-2030 (IN $ MILLION)

FIGURE 10: INDONESIA PAINTS & COATINGS MARKET, BY ALKYD, 2023-2030 (IN $ MILLION)

FIGURE 11: INDONESIA PAINTS & COATINGS MARKET, BY EPOXY, 2023-2030 (IN $ MILLION)

FIGURE 12: INDONESIA PAINTS & COATINGS MARKET, BY POLYURETHANE, 2023-2030 (IN $ MILLION)

FIGURE 13: INDONESIA PAINTS & COATINGS MARKET, BY OTHER RESIN TYPES, 2023-2030 (IN $ MILLION)

FIGURE 14: INDONESIA PAINTS & COATINGS MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2022

FIGURE 15: INDONESIA PAINTS & COATINGS MARKET, BY WATERBORNE, 2023-2030 (IN $ MILLION)

FIGURE 16: INDONESIA PAINTS & COATINGS MARKET, BY SOLVENT-BORNE, 2023-2030 (IN $ MILLION)

FIGURE 17: INDONESIA PAINTS & COATINGS MARKET, BY POWDER COATINGS, 2023-2030 (IN $ MILLION)

FIGURE 18: INDONESIA PAINTS & COATINGS MARKET, BY HIGH SOLIDS, 2023-2030 (IN $ MILLION)

FIGURE 19: INDONESIA PAINTS & COATINGS MARKET, BY RADIATION CURED, 2023-2030 (IN $ MILLION)

FIGURE 20: INDONESIA PAINTS & COATINGS MARKET, BY OTHER TECHNOLOGIES, 2023-2030 (IN $ MILLION)

FIGURE 21: INDONESIA PAINTS & COATINGS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022

FIGURE 22: INDONESIA PAINTS & COATINGS MARKET, BY AEROSPACE, 2023-2030 (IN $ MILLION)

FIGURE 23: INDONESIA PAINTS & COATINGS MARKET, BY INDUSTRIAL COATING, 2023-2030 (IN $ MILLION)

FIGURE 24: INDONESIA PAINTS & COATINGS MARKET, BY WOOD COATING, 2023-2030 (IN $ MILLION)

FIGURE 25: INDONESIA PAINTS & COATINGS MARKET, BY PROTECTIVE COATING, 2023-2030 (IN $ MILLION)

FIGURE 26: INDONESIA PAINTS & COATINGS MARKET, BY MARINE COATING, 2023-2030 (IN $ MILLION)

FIGURE 27: INDONESIA PAINTS & COATINGS MARKET, BY REFINISH AUTOMOTIVE, 2023-2030 (IN $ MILLION)

FIGURE 28: INDONESIA PAINTS & COATINGS MARKET, BY AUTOMOTIVE (OEM), 2023-2030 (IN $ MILLION)

FIGURE 29: INDONESIA PAINTS & COATINGS MARKET, BY PACKAGING COATING, 2023-2030 (IN $ MILLION)

FIGURE 30: INDONESIA PAINTS & COATINGS MARKET, BY ELECTRONIC COATING, 2023-2030 (IN $ MILLION)

FIGURE 31: INDONESIA PAINTS & COATINGS MARKET, BY ARCHITECTURAL (INTERIOR/EXTERIOR), 2023-2030 (IN $ MILLION)

FIGURE 32: INDONESIA PAINTS & COATINGS MARKET, BY SPECIAL COATING, 2023-2030 (IN $ MILLION)

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