5 Biggest Paint Companies in the World

In this article, we will take a look at the 5 biggest paint companies in the world. If you want to see more companies in this selection, go to the 16 Biggest Paint Companies in the World.

5. Diamond Vogel

2021 Paint and Coatings Sales: $4.12 billion

Diamond Vogel is an Orange City, Iowa-based privately-held paint and coatings manufacturing and distribution company founded in 1926. The company is currently being operated by the third generation of the Vogel family.

Diamond Vogel has eight manufacturing facilities and 40 company-owned stores. The company manufactures architectural paints, industrial paints, and specialty coatings to fulfill different end-user needs. The company rebranded from Vogel Paint and Wax to Diamond Vogel in 2018. In 2011, Diamond Vogel acquired Fasse Paint Company to expand its presence in the paints and coatings industry.

4. RPM International Inc. (NYSE:RPM)

2021 Paint and Coatings Sales: $6.1 billion

RPM International Inc. (NYSE:RPM) is a Medina, Ohio-based manufacturer of paint and coatings for homes and workplaces.

In a research note issued to investors on January 6, John McNulty at BMO Capital assigned RPM International Inc. (NYSE:RPM) stock an Outperform rating with a target price of $112. The analyst believes that the 13% sell-off following the in-line Q2 FY23 results and weaker-than-expected guidance has frightened investors. Although the near-term outlook may seem tough for the entity, the sell-off is overdone. RPM International Inc. (NYSE:RPM) is set to benefit from the margin achievement plan (MAP) of 2025, which will aid the company in achieving strong growth in EPS.

3. Nippon Paint Holdings Co Ltd (TYO:4612)

2021 Paint and Coatings Sales: $9.08 billion

Nippon Paint Holdings Co Ltd (TYO: 4612) is an Osaka, Japan-based paint company founded in 1881. The company is publicly listed on the Tokyo Stock Exchange (TSE) and is a market leader in Asia, Australia, and Turkey.

Nippon Paint Holdings Co Ltd (TYO: 4612) generates more than 70% of its top line from outside Japan as it engages in business in 35 countries in the Asia, Americas, Europe, and Oceania markets. The group has employed 30,000 individuals with dozens of notable paint brands in its portfolio.

2. The Sherwin-Williams Company (NYSE:SHW)

2021 Paint and Coatings Sales: $15.96 billion

The Sherwin-Williams Company (NYSE:SHW) is a Cleveland, Ohio-based paint and coating manufacturing concern with a rich history of 155 years. The company employs 60,000 individuals and operates a chain of 4,438 company-operated outlets in the Americas. The company sells its products through leading home improvement retailers.

In a report issued to investors on December 2, Jeffrey Zekauskas at JPMorgan increased the target price for The Sherwin-Williams Company (NYSE:SHW) from $250 to $260 and maintained an Overweight rating on the stock. The analyst believes that the company has the potential to achieve above-consensus earnings in 2023 as it has increased its prices significantly in line with the rising inflation while successfully controlling costs.

Here’s what ClearBridge Investments said about The Sherwin-Williams Company (NYSE:SHW) in its Q3 2022 investor letter:

“The third strategy is buying growth companies with idiosyncratic or stock-specific catalysts unrelated to the direction of the market like The Sherwin-Williams Company (NYSE:SHW). The stock is an example of a company we categorize in our cyclical bucket that should experience a step change in earnings over the medium to long term with solid execution and its ability to pass through price increases. While relative performance has been challenged by binary decisions around a handful of mega cap technology stocks, we’re entering a lower-growth period in which we’ve historically delivered strong relative results from our balanced approach.”

1. PPG Industries, Inc. (NYSE:PPG)

2021 Paint and Coatings Sales: $16.8 billion

PPG Industries, Inc. (NYSE:PPG) is a Pittsburgh, Pennsylvania-based paints, coatings, and specialty materials company founded in 1883.

Aleksey Yefremov at KeyBanc increased the price target on PPG Industries, Inc. (NYSE:PPG) from $125 to $144 and reiterated an Overweight rating on the stock in a note issued to investors on January 12. The analyst increased the target price to incorporate the impact of higher multiple assumptions. The Fortune 200 company has a headcount of around 50,000 people and is considered a defensive entity in the paint and coatings industry, given its scale of business. This means that PPG Industries, Inc. (NYSE:PPG) is not heavily impacted by the cyclical developments of the industry.

Here’s what ClearBridge Investments said about PPG Industries, Inc. (NYSE:PPG) in its Q4 2021 investor letter:

“To help better navigate an inflationary environment, we added to PPG Industries, a high-quality cyclical coatings company we find attractively valued. The company has implemented aggressive pricing to offset raw material inflation, and should also benefit from the recovery in miles driven and air travel, which should support its most profitable segments, aerospace and automotive refinish coatings.”

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