The Global Oil Based Paints Market was valued at USD 38.5 Billion in 2024 and is projected to reach USD 50.2 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period (2024–2030). This sustained growth is propelled by robust demand from the construction and industrial maintenance sectors, alongside continuous innovation in high-performance formulations that offer superior durability and protection compared to water-based alternatives.

As the coatings industry navigates a landscape dominated by environmental regulations and evolving consumer preferences, oil-based paint manufacturers are pioneering advancements in low-VOC technologies and sustainable raw material sourcing. In this blog, we profile the Top 10 Companies in the Oil Based Paints Industry—global giants and specialized innovators who are setting the standards for quality, performance, and environmental stewardship.

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🔟 1. Sherwin-Williams

Headquarters: Cleveland, Ohio, USA
Key Offering: ProClassic Oil Based Enamel, All Surface Oil-Based Enamel, Industrial and Protective Coatings

Sherwin-Williams is a global leader in the paint and coatings industry, with a vast portfolio of oil-based products renowned for their exceptional durability and finish. The company serves residential, commercial, industrial, and marine markets through its extensive network of retail stores and direct sales channels.

Sustainability Initiatives:

• Commitment to reducing VOC content across all product lines

• Investment in bio-based and recycled raw materials for paint formulations

• Targeting 100% sustainable packaging by 2030

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9️⃣ 2. PPG Industries

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: PPG PITT-GLOSS Oil-Based Enamel, PPG Break-Through! Interior Paint, Industrial Maintenance Coatings

PPG Industries is a major global supplier of paints, coatings, and specialty materials. Its oil-based product lines are essential for applications requiring maximum adhesion and resistance to harsh environments, particularly in the automotive, aerospace, and industrial sectors.

Sustainability Initiatives:

• Development of high-solids and low-VOC oil-based formulations

• Strategic partnerships to advance circular economy principles in coating production

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8️⃣ 3. AkzoNobel N.V.

Headquarters: Amsterdam, Netherlands
Key Offering: Sikkens Oil-Based Wood Finishes, International Protective Coatings, Dulux Professional Oil-Based Enamels

AkzoNobel, the maker of Dulux paints, has a formidable presence in the decorative and performance coatings markets. The company’s oil-based portfolio is particularly strong in wood care and high-performance industrial protection, leveraging decades of chemical expertise.

Sustainability Initiatives:

• Pioneering water-mixable oil paints that reduce solvent use

• Ambitious carbon reduction targets aligned with the Paris Agreement

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7️⃣ 4. Nippon Paint Holdings

Headquarters: Osaka, Japan
Key Offering: Nippon Paint Oil-Based Enamels, Protec Industrial Coatings, Automotive Refinish Products

Nippon Paint is one of Asia’s largest paint manufacturers with a rapidly expanding global footprint. The company invests heavily in R&D to enhance the performance and environmental profile of its oil-based coatings for automotive, industrial, and decorative applications.

Sustainability Initiatives:

• Focus on developing “Green” oil-based paints with lower environmental impact

• Expansion of production facilities using renewable energy sources

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6️⃣ 5. RPM International Inc.

Headquarters: Medina, Ohio, USA
Key Offering: Rust-Oleum Protective Enamels, DAP Oil-Based Primers, Tremcor Waterproofing Coatings

RPM International owns a diverse family of coating brands, including the iconic Rust-Oleum. The company is a dominant player in the DIY and professional maintenance markets, offering oil-based solutions prized for their rust prevention and durability on various substrates.

Sustainability Initiatives:

• Product innovation aimed at extending service life and reducing recoating frequency

• Corporate commitment to sustainable operations and waste reduction

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5️⃣ 6. BASF Coatings

Headquarters: Münster, Germany
Key Offering: BASF Oil-Based Resins, Automotive OEM Coatings, Industrial Coatings Solutions

BASF’s coatings division is a key supplier of advanced resin technologies and finished coatings systems. While known for innovation in water-based and powder coatings, BASF remains a critical supplier of high-performance oil-based resins and coatings for specialized industrial applications.

Sustainability Initiatives:

• Leading the transition to bio-circular raw materials for coating formulations

• Comprehensive lifecycle assessment for all major product lines

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4️⃣ 7. Asian Paints

Headquarters: Mumbai, India
Key Offering: Asian Paints Oil-Based Enamels, Apcolite Premium Emulsions, Industrial and Automotive Coatings

Asian Paints is India’s leading and Asia’s third-largest paint manufacturer. The company has a significant market share in oil-based decorative and industrial paints, supported by strong distribution networks and continuous product innovation tailored to regional climatic conditions.

Sustainability Initiatives:

• Investment in R&D for environmentally friendly solvent systems

• Water conservation and zero liquid discharge initiatives at manufacturing plants

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3️⃣ 8. Kansai Paint

Headquarters: Osaka, Japan
Key Offering: Kansai Paint Oil-Based Coatings, Automotive Refinish Products, Marine and Protective Coatings

Kansai Paint is a global coatings manufacturer with a strong technological focus. The company’s oil-based products are widely used in the automotive refinish and industrial maintenance sectors, known for their excellent color retention and chemical resistance.

Sustainability Initiatives:

• Development of low-energy curing coatings that reduce application carbon footprint

• Active participation in global sustainability standards for the coatings industry

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2️⃣ 9. Berger Paints

Headquarters: Kolkata, India
Key Offering: Berger Alkyd Enamels, Weathercoat Long Life Exterior Paints, Industrial and Automotive Coatings

Berger Paints is a major player in the Asian and Middle Eastern markets, with a comprehensive portfolio of decorative and industrial coatings. The company’s oil-based enamels are popular for both interior and exterior applications due to their smooth finish and long-lasting protection.

Sustainability Initiatives:

• Launch of “Eco-friendly” paint ranges with reduced VOC levels

• Focus on community engagement and sustainable sourcing practices

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1️⃣ 10. Jotun

Headquarters: Sandefjord, Norway
Key Offering: Jotun Oil-Based Primers, Hardtop AX Marine Coatings, Penguard Industrial Protection

Jotun is a leading global producer of decorative, marine, protective, and powder coatings. The company’s strength lies in its high-performance oil-based coating systems designed for extreme conditions, particularly in the marine and offshore industries.

Sustainability Initiatives:

• Pioneering antifouling technologies that reduce marine environmental impact

• Commitment to science-based targets for reducing greenhouse gas emissions

Get Full Report Here: Global Oil Based Paints Market – View in Detailed Research Report

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🌍 Outlook: The Future of Oil Based Paints Is High-Performance and Eco-Conscious

The oil-based paints market is experiencing a strategic evolution. While facing regulatory pressure regarding VOC emissions, the sector is responding with significant R&D investments into hybrid technologies, high-solids formulations, and bio-based solvents that preserve performance while minimizing environmental impact.

📈 Key Trends Shaping the Market:

• Growing demand for durable coatings in infrastructure and industrial maintenance projects

• Innovation in alkyd emulsion technology, creating water-reducible oil paints

• Increasing adoption in emerging economies with less stringent VOC regulations

• Strategic acquisitions and partnerships to expand geographic and product portfolios

Get Full Report Here: Global Oil Based Paints Market – View in Detailed Research Report

The companies listed above are not only defining the standards for protective and decorative coatings—they are actively steering the industry toward a more sustainable and high-performance future.