According to Azoth Analytics research report, the Global Paints and Coatings market was valued at USD 161.27 billion in the year 2019 and xx Thousand Tones by volume with Asia Pacific leading the regional market share. Growing demand for elastomeric coating in concrete construction, provision of tough layers with improved performance, green environmental rules, and high adoption from end-use industries plays a major role in the growth of the global paints and coatings market. Increasing usage of paints and coating products in automotive and marine industries are major end-use industries responsible for growth of the global paints and coatings market. Increasing expansions and new product development are anticipated to result in robust growth of the global paints and coatings market in the coming years.
Among the Technology segment in the Paints and Coatings market (Water-borne, Solvent-borne and others), Water-borne segment leads the market. Waterborne coatings have gained significant space and recognition globally predominantly due to the improving economic conditions and low environmental impact of these coatings. The waterborne segment is expected to grow on the back of building and construction industry, which is anticipated to witness good growth, mainly in the developing countries.
Based on Material (Acrylic, Polyester, Alkyd, Polyurethane, Epoxy and others), Acrylic segment gains a considerable share. The acrylic segment is expected to witness significant growth on account of increasing demand in various applications including automotive, households, construction, and industrial. Increasing demand owing to its inertness and excellent color retention when exposed to outdoor condition is expected to fuel market growth.
Based on End-User (Decorative Coatings, Transportation, Metal Industrial Coatings, Industrial Maintenance & Protective, Powder Coatings, Automotive Refinish and others), Decorative Coatings segment gains considerable share. The decorative paints & coatings segment is witnessing high growth on account of growing end-use industries and technological advancements. The economic growth in developing countries, increasing investment in infrastructure, stringent environmental regulations, growing purchasing power, and the rising demand for green and environment-friendly coatings are also leading to the growth of the market.
The Asia Pacific Region dominates the Paints and Coatings market. In Asia Pacific, the easy availability of raw materials, coupled with less stringent laws regarding VOC emissions as compared to the law in North America and Europe, has provided huge growth opportunities to the market. Low labour costs in the emerging nations of Asia Pacific has attracted many foreign investors to set up their manufacturing facilities in the region. Thus, the growing number of manufacturing facilities is boosting the construction activities in the region, which, in turn, is anticipated to propel the demand for paints and coatings over the forecast period.
Scope of the Report
• The report analyses the Paints and Coatings market By Value and By Volume.
• The report analyses the Paints and Coatings market by Technology (Water-borne, Solvent-borne, Others).
• The report assesses the Paints and Coatings market by Material (Acrylic, Polyester, Alkyd, Polyurethane, Epoxy, Others).
• The report assesses the Paints and Coatings market by End-User (Decorative Coatings, Transportation, Metal Industrial Coatings, Industrial Maintenance & Protective, Powder Coatings, Automotive Refinish, Others).
• The Global Paints and Coatings Market has been analysed by Region (North America, Europe, and Asia Pacific) and by Country (United States, Canada, Germany, Italy, France, United Kingdom, China, Japan, India, South Korea).
• Also, the attractiveness of the market has been presented by region, technology, material and end-user. Also, trends, drivers, challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies and mergers & acquisitions. The companies analysed in the report include Sherwin-Williams, PPG Industries, AkzoNobel, RPM International Inc., Axalta Coating Systems, Kansai Paint, BASF, Masco, Asian Paints and Henkel.
• The report presents the analysis of Paints and Coatings market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
• Paints and Coatings Manufacturers
• Raw Material Suppliers
• Consulting and Advisory Firms
• Government and Policy Makers
• Investment Banks and Equity Firms
• Regulatory Authorities
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