PPG Industries Reignites Momentum in Mexico—Is This the Start of a Major Comeback?

PPG Industries’ third-quarter 2025 results provide a mixed picture of the company’s current performance and future prospects. On one hand, the company achieved a 2% increase in organic sales growth, marking the third consecutive quarter of volume growth despite a challenging macroeconomic environment. PPG’s global reach and strong commercial execution contributed to share gains, particularly in its Industrial Coatings segments with automotive OEM and packaging coatings, as well as in its Performance Coatings segment, which saw robust growth in aerospace and protective and marine coatings. These strengths demonstrate the company’s ability to leverage its diversified portfolio and capitalize on industry opportunities. On the downside, PPG faced challenges in its automotive refinish business, which experienced a significant decrease in sales volumes due to a slump in collision claims and distributor order patterns that favored the first half of the year.