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Paints and Coatings Market
Global Paints & Coatings Market - by Resin Type, Product Type (commodity, engineering, and high performance), Application (Architectural, Industrial), Region - Forecast till 2023
Paints and Coatings Market Overview:
The Global Paints & Coatings Market was USD 135542.6 Mn in 2018 and is forecasted to grow at a healthy CAGR of 5.06% during the assessment period. Among various application industries, architectural segment accounted for the largest market share of 55.1% in 2017 with a market value of USD 78001.9 Mn.
The stringent laws implemented by the governments to control the adverse effects on environment restrict the market growth to some extent, but also paves the way for product innovation. For instance, Volatile organic compounds (VOCs) are harmful to the environment and exposure to VOCs can be associated with the organic solvent syndrome. Therefore, the regulatory laws led to the introduction of low-VOC and zero-VOC paints and finishes.
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Paints and Coatings Market Key Players:
Some of the major players operating in the global paints & coatings market are:
- Jotun Group,
- The Sherwin-Williams Company,
- TIGER Coatings GmbH & Co. KG,
- Vitracoat America,
- Dai Nippon Toryo Co., Ltd,
- Kansai Nerolac Paints Limited,
- Diamond Vogel,
- Hentzen Coatings, Inc.,
- Berger Paints India Limited,
- National Paints Factories,
- Axalta Coating Systems Ltd,
- Guangzhou Kinte Paints & coatings,
- AkzoNobel N.V.
Paints and Coatings Market Segmentation:
By product type, the market for paints and coatings has been segmented into water based and solvent based, powdered and UV. The stringent regulations governing the paints and coatings market will push the demand for water based and solvent based products.
By applications type, the market is segmented into architectural, industrial and marine. The architectural segment is set to witness amplified demand due to the growth of the residential sector. The growth demonstrated by the industrial segment can be ascribed to the rapid developments in industrialization.
Paints and Coatings Market Regional Analysis:
The market in North America is expected to grow in spite of strict regulatory laws implemented by the government. The demand for paints and coatings in North America market will come as a response to the growing demand for residential houses and its renovation. The concentration of established corporate houses dealing in paints and coatings in the region can also be credited for the growth of the market. The growth rate of 3% will be registered in the North America region.
Europe market will expand moderately with Germany playing a significant role owing to its prominence in the automobile industry. The industry experts have asserted that there will be a rise in demand for construction of both residential and commercial structures in the region which will steer growth in the paints and coatings market.
RoW market will grow at an average rate due to soaring construction industry in the Middle East. Also, the rapid industrialization coupled with urbanization will lead to a proliferation of the market.
Paints and Coatings Market Table of Content:
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
Paints and Coatings Market Table of Content to be Continue…….,
Paints and Coatings Market List of Table:
Table 1 Market Synopsis
Table 2 List Of Assumptions
Table 3 Global Paints And Coatings Market, By Resin Type, 2015-2023 (USD Million)
Table 4 Global Paints And Coatings Market, By Resin Type, 2015-2023 (KILO TONS)
Table 5 Global Acrylic Paints And Coatings Market, 2015-2023 (USD Million)
Paints and Coatings Market List of Table to be Continue…….,
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