---
title: "PPG Industries: Business Model"
description: "PPG Industries revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/ppg-industries/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# PPG Industries: Business Model & Revenue Engine

## Direct Answer

PPG Industries reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Industrial Coatings is the largest, with $6.5 billion of revenue (41% of the total), followed by Performance Coatings at $5.5 billion (35%).

## How Does PPG Industries Make Money?

No single line supplies a majority of revenue: the largest, Industrial Coatings, is 41%, which spreads PPG Industries's exposure across several demand drivers. Between fiscal 2024 and 2025, Performance Coatings grew fastest (+5.3%) and Industrial Coatings slowest (-2.4%), so the revenue mix tilts toward Performance Coatings while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Industrial Coatings | $6.5 billion | $6.7 billion | 41.1% | -2.4% |
| Performance Coatings | $5.5 billion | $5.2 billion | 34.7% | 5.3% |
| Global Architectural Coatings | $3.8 billion | $3.9 billion | 24.2% | -2.1% |

![Bar chart of PPG Industries revenue by segment for fiscal 2025: Industrial Coatings 41.1%, Performance Coatings 34.7%, Global Architectural Coatings 24.2%.](https://www.getswoopr.com/images/charts/ppg-industries-business-model-segment-mix.webp)
*PPG Industries revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does PPG Industries's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| North America | $5.4 billion | $5.4 billion | 33.8% | 0.4% |
| EMEA | $5.4 billion | $5.4 billion | 33.8% | -0.3% |
| Asia Pacific | $2.9 billion | $2.9 billion | 18.5% | 0.9% |
| Latin America | $2.2 billion | $2.2 billion | 13.8% | 0.1% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of PPG Industries's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value PPG Industries reported in the segment note and revenue disclosures of its Form 10-K filed February 19, 2026 (accession 0000079879-26-000046), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are PPG Industries's business segments?

In its fiscal 2025 Form 10-K, PPG Industries reports revenue for Industrial Coatings, Performance Coatings and Global Architectural Coatings.

### Which part of PPG Industries brings in the most revenue?

Industrial Coatings, with $6.5 billion of revenue in fiscal 2025, or 41% of the total.

### Where does PPG Industries report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed February 19, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: PPG INDUSTRIES INC Form 10-K filed February 19, 2026](https://www.sec.gov/Archives/edgar/data/79879/000007987926000046/ppg-20251231.htm)
- [SEC EDGAR: PPG INDUSTRIES INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=79879&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [PPG Industries company dossier](https://www.getswoopr.com/stocks/companies/ppg-industries/)
- [PPG Industries financial metrics](https://www.getswoopr.com/stocks/companies/ppg-industries/metrics/)
- [PPG Industries financial risk indicators](https://www.getswoopr.com/stocks/companies/ppg-industries/risks/)
- [PPG Industries peer comparison](https://www.getswoopr.com/stocks/companies/ppg-industries/competitors/)
- [PPG Industries business model and revenue mix](https://www.getswoopr.com/stocks/companies/ppg-industries/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

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