Professionals from the construction, wood, automotive, and transportation industries demand high-quality paint and coatings. These products not only make the structure look attractive, but also add to its life!
The recent statistics reveal that the paints and coatings market size can go above $235 billion within the next seven years. People, who invest in paint & coatings manufacturing companies, can make a huge profit.
Sherwin-Williams is the market leader when it comes to providing the best paints, coatings, and related products. It produces and supplies products across 120 countries.
Continue reading to learn more about Sherwin Williams and its top competitors.
Sherwin Williams Company Overview
Sherwin-Williams is the world’s leading paint and coating manufacturer, distributor, and seller. This firm produces paint, coatings, floor coverings, and other products demanded by clients across the globe.
This company serves many commercial, industrial, and retail customers seeking top-quality products. Over 60,000 professionals help this company deliver products across the globe.
This firm hires skilled professionals to develop innovative and reliable products to save the client money.
This firm has established over 4,438 company-owned stores across the globe to sell Sherwin-Williams branded products. Besides, it has the best portfolio of private-label and branded products in the industry.
Products from the company’s other brands are sold through home centers, mass merchandisers, independent dealers, automotive retailers, hardware stores, and industrial distributors.
This company also provides a variety of highly engineered solutions for industrial, construction, transportation, and packaging markets.
This company was established in 1866 in Cleveland, Ohio. High-quality products and services helped this firm spread across 120 countries at a steady pace.
Today, it competes with the leading paint and coatings companies in North America, South America, Europe, Australia, and Asia.
Sherwin Williams Revenue
This company has earned $18.36 billion in 2020 and $19.9 billion in 2021. The Americas Group accounted for 56% of revenue, the Performance Coatings Group accounted for 30% of the company’s revenue, and the Consumer Brands Group accounted for 14% of the revenue of the company.
Sherwin Williams serves all customers seeking top-quality paint and coatings. Its products play a vital role in the growth of clients’ businesses.
That’s why most companies operating in construction, automotive, transportation, wood, and other industries choose Sherwin Williams products.
Sherwin Williams Competitors
Sherwin Williams competes with some renowned brands and companies across the globe. Its major competitors include the following companies, which are making good profit nowadays.
1. BASF
Headquarters: Ludwigshafen, Germany
Founder(s): Friedrich Engelhorn
Year Founded: 1865
BASF SE is the world’s largest chemical producer. This firm has joint ventures and subsidiaries across the globe.
It has established 6 integrated production facilities along with 390 other production facilities in Asia, Europe, the Americas, Africa, and Australia.
BASF services customers from many industries in more than 190 countries. It uses years of knowledge and expertise to develop and produce top-performance products.
It provides pigments, dispersions, pigment preparations, resins, and additives. This company produces and promotes a wide range of raw materials for high-quality paint and coatings formulations.
It mainly serves architectural coatings, commercial vehicle coatings, automotive paints, and industrial-grade products.
This firm has gained $92.989 billion in 2021, but the paint and coatings aren’t the only sources of income! Clients admire that BASF’s products improve surface properties and improve resistance to scratching, corrosion, and environmental damage.
This firm is the leading supplier of sustainable paints and coatings in the world. Therefore, it is a huge threat to the Sherwin Williams Company’s top position.
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2. Asian Paints
Headquarters: Mumbai, Maharashtra, India
Founder(s): Champaklal Choksey, Chimanlal Choksi, Suryakant Dani, Arvind Vakil
Year Founded: 1942
Asian Paints was founded in 1942 and today it operates as one of the world’s leading paint companies. This Indian company manufactures, distributes, and sells top-quality paints, coatings, and other home décor products.
It also provides bath fittings and other related services across the globe. It is Asia’s third-largest paints company and it has been among the top 5 paints and coatings companies in the world.
It operates as Berger International in many countries. This firm’s revenue has significantly improved in the past few decades.
It has established production facilities in 15 countries. However, it entertains most customers from Indian and Middle Eastern markets. It is the world’s third-largest paints and coatings manufacturer.
Its market cap was $44.366 billion in 2021 and this firm is consistently expanding its operations in many western countries. Therefore, many experts believe it is a major competitor of Sherwin Williams.
3. PPG Industries
Headquarters: Pittsburg, Pennsylvania, USA
Founder(s): John Baptiste Ford, John Pitcairn Jr.
Year Founded: 1883
PPG Industries supplies paints, coatings, related products, and specialty materials across the globe. It is a US-based Fortune 500 company operating from Pittsburgh, Pennsylvania.
This company sells its products in more than 70 countries. It is the largest coatings company in the world in terms of the revenue!
This firm was established in 1883 to produce thick flat glass. It soon emerged as the USA’s leading supplier of thick flat glass. It used natural gas to power all furnaces and soon other companies from different industries followed PPG.
It entered the paints and coatings market in the late 19th century and became the 2nd largest supplier of paint-related products.
This firm’s quality products drew more buyers and thus it became one of the leading paint and coatings companies in the USA and the world!
This firm has gained $16.8 billion in 2021 and many experts believe that its revenue will grow significantly in FY 2022.
Therefore, it can make the competition tougher for top paint and coatings companies!
4. Nippon Paint
Headquarters: Oyodo Kita, Kita-Ku, Osaka, Japan
Founder(s): Jujiro Motegi
Year Founded: 1881
It is a Japanese paint and coatings product manufacturing company. It was the world’s largest paint manufacturer in 2020 in terms of revenue. Thus, it competes to regain the top position by beating top paint manufacturers in the world.
Jujiro Motegi founded Nippon Paint in 1881 and it was called Komyosha at that time. It was incorporated in 1898 and became Nippon Paint Manufacturing at that time.
This company entered US markets by merging with Dunn-Edwards Corporation. Today, it uses the Dunn-Edwards brand to sell its paint, coatings, and other products in North American states.
This firm currently employs over 23,000 professionals. It has over 80 manufacturing facilities located across 17 geographical locations.
Unofficial resources reveal that Nippon Paint has made $7.6 billion in 2021. Its revenue may increase more because most Asian markets are open after the pandemic and demands for quality paint are pretty high.
5. AkzoNobel
Headquarters: Amsterdam, Netherlands
Founder(s): N/A
Year Founded: 1994
AkzoNobel is a Dutch paint and performance coatings manufacturing company. This firm serves thousands of commercial and industrial clients across 80 countries.
Over 32,000 professionals help this firm develop and deliver cutting-edge products for their needs. This company was founded when Akzo and Nobel industries merged to operate as one entity.
Akzo was founded in 1969 and Nobel was established in the 17th century. Both firms merged to cover a much larger market and generate more profit.
America’s PPG Industries tried to acquire this Dutch company in 2017. That acquisition did not complete and AkzoNobel continues to entertain its loyal clients.
This firm’s revenue was €8.53 billion in 2020, but official statistics are not available for FY 2021. Its performance in recent years suggests that the paint manufacturer has certainly earned a good profit in the previous year.
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6. RPM International
Headquarters: Medina, Ohio, United States
Founder(s): Frank C. Sullivan
Year Founded: 1947
RPM International Inc. is one of the leading specialty coatings manufacturers in the USA. This firm also produces sealants, building materials, and paint.
It sells products with Tremco, Universal Sealants, Carboline, RPM/Belgium, Stonhard, Day-Glo, Euco, and Dryvit brand names.
DIY home décor enthusiasts, professionals, and hobbyists recommend RPM’s consumer products as the best in the market. Rust-Oleum, Zinsser, Varathane, DAP, and Testors are some consumer brands managed by this company.
Over 15,500 professionals are currently working for RPM. It has set up 122 manufacturing facilities across the globe. RPM’s products are available in 170 countries.
Therefore, it is always among the top 10 paint and coating suppliers. Around 824 institutions and 194,030 investors have invested in RPM International.
Its shares are always ranked among the top company shares held by BetterInvesting. This firm has consistently increased the cash dividend it pays to stockholders.
RPM earned $6.1 billion in 2021 and that’s a much better earning than the previous year.
7. Berger Paints
Headquarters: Kolkata, West Bengal, India
Founder(s): Louis Burger
Year Founded: 1760
Berger Paints is another Indian multinational company that competes with the leading paint manufacturers in the world. This company has established paint manufacturing facilities in India, Poland, Nepal, and Russia.
Over 3,600 employees work for this firm. They produce, promote, and sell their products in India, Poland, Russia, Nepal, and Bangladesh.
Berger Paints has over 26,000 dealers, who promote its products across the globe. It is India’s second-largest paint manufacturing company.
Now, it is also emerging as a major player in the paint and coatings manufacturing industry on a global level.
Berger Paints is one of the oldest paint manufacturers in the world. It was established by Louis Berger in 1760 to produce pigments and dye.
It was a British firm at that time and it moved to India in 1929. Sherwin Williams’ Mumbai-based division acquired this firm in 2013. However, it still operates as a separate entity and competes with its parental firm!
8. Axalta
Headquarters: Philadelphia, Pennsylvania, (USA), Bermuda
Founder(s): N/A
Year Founded: 1866
Axalta Coating Systems, Ltd. is a US-based paint and coatings manufacturer. This firm specializes in coatings and provides industrial applications, paint, and other materials.
This company’s coatings are used for industrial equipment, light and commercial vehicles, and refinishing work.
Axalta’s business has spread across 130 countries. Over 13,000 employees work at Axalta’s manufacturing facilities and offices to serve over 100,000 customers across the world.
Even though it is an American firm, its origin can be traced to Herberts Gmbh (a German firm). That firm used to produce coatings and automotive paint during the 19th century.
This company’s ownership has changed several times in the past. It became a fully independent company in 2014 and grew rapidly in targeted markets.
This firm has grossed $4.416 billion in 2021, which is 18.16% more than this firm’s income in 2020.
9. Kansai Paint
Headquarters: Philadelphia, Pennsylvania, (USA), Bermuda
Founder(s): Katsujiro Iwai
Year Founded: 1918
Kansai Paint Co. Ltd. is a Japanese chemical company. It specializes in producing industrial, automotive, and decorative coatings.
This company has established paint and coatings manufacturing facilities across 43 countries. Therefore, it is always counted among the world’s leading paint and coatings manufacturers.
Kansai uses cutting-edge technology and years of know-how to prepare the best paint and coatings for buyers. Besides, its products seem way more affordable than other brands’ products.
It entertains thousands of buyers, who do not want to compromise product quality to save some extra bucks.
This firm has earned $3.67 billion in the fiscal year 2021. It may expand rapidly to entertain more clients from other Asian, European, and American countries. That move will increase the company‘s revenue and create more demands.
10. Behr
Headquarters: Santa Ana, California, United States
Founder(s): Otho Behr, Jr.
Year Founded: 1947
Behr is one of the most popular architectural paint suppliers in the USA. This company also produces products to strengthen external wood structures.
This company targets professional and DIY enthusiasts seeking high-quality paint and coatings. This company was established in 1947 and now it provides house paints, primers, decorative finishes, and surface protection products.
It targets customers from the construction and home décor industries to increase sales and profit. Otho Behr, Jr. started this firm by selling linseed oil wood stains through his station wagon.
His father created a formula for redwood stain and that formula played a vital role in the business’s growth. It first became a major paint brand in California and then spread across the USA.
This company sells its products through Home Depot stores. It is not as huge as other companies featured in this post.
However, Behr is growing at a steady pace and it has gained $376 million in revenue. Thus, Behr Paints is considered a major competitor to Sherwin Williams and other companies in the industry.
