Global Paints and Coatings Market will drive by increasing its demand from the automotive, electronic, and construction industries
Published | 25 June 2019
According to BlueWeave Consulting,
The Global Paints and Coatings Market
is expected to grow with a significant rate during the forecast period
2019-2025, owing to the growth of the construction sector, increasing demand
for automobiles worldwide, and growing demand from the oil and gas industry. Rapid
urbanization, increasing of the living standards, rising middle class,
increasing purchasing power and GDP, growing the industry and housing sector, will
foster the global Paints and Coatings Market in the forecast period.
Moreover, the major
factor driving the market growth is the introduction of various innovative
manufacturing processes and technologies such as Anticorrosive protection,
low-VOC content coats and Nanocoatings significantly facilitated to cater to
numerous new and diverse consumer demands. Furthermore, the growing application
of paints and coatings to protect machines and equipment from rusting and
corrosion in industries. As for consumer goods, they serve the purpose of
keeping corrosion at bay and make products look better will accelerate the
growth of the Paints and Coatings market.
Additionally, Increasing
adoption of smart coatings in commercial applications as these are increasingly
being used for the restoration of historical buildings will contribute to
Paints and Coatings market growth during the forecast period. Also, large-scale investment in the
construction of projects such as hotels, apartments, offices, retail centers,
and civic infrastructures are expected to boost the Paints and Coatings market
in the upcoming year.
Acrylic Resins of Paints
and Coatings Market is projected to be the leading segment of the overall
market during the forecast period
On the basis of Resin, the Paints and Coatings
market has been segmented into Acrylic, Polyurethanes, Polyesters, Epoxy and
Alkyd. Acrylic, segment dominates the global Paints and Coatings owing to the
growing use of acrylic resins in many applications, such as automotive, roof
coating, wall coating, and construction. Polyurethanes will drive by its excellent
strength-to-weight ratio, insulation properties, durability and versatility,
polyurethane is frequently used in building and construction application.
Water-based based on
Paints and Coatings Market is anticipated to be the dominating segment of the
overall market during the forecast period
On the basis of Technology, the Paints and
Coatings market has been categorized into Water-based, Solvent-based, High
Solid, Powder, and Others. Water-based will lead the segment due to its
applications in automotive, interiors of coal cars, fly ash hoppers, plastic
pellet hoppers, and the architectural sector which have less flammability, low
VOC emissions, and stable viscosity during printing. Solvent-based will
drive by its usage in industrial/commercial construction and automotive sectors
The automobile is
projected to lead the industry for utilizing applications of the Paints and
Coatings during the forecast period
On the basis of application, the Paints and
Coatings market has been segmented into Automotive and Transportation,
Aerospace, Building and Construction, Packaging, Health Care and Medical
Devices, Marine, Electrical and Electronics. By application, Building and
Construction will lead the market owing to the growing population and improving
economic conditions have led to a rise in expenditure on housing and
infrastructure development across the globe. Automotive and Transportation will
propel by rapidly expanding automobile industry.
The Asia Pacific
accounts for the lion’s share of the global Paints and Coatings market during
the anticipated period.
On the basis of region, the Paints and Coatings market
has been segmented into North America, Europe, Asia Pacific, Middle East &
Africa, and Latin America. The Asia
Pacific dominates the world Paints and Coatings market over the forecast period
owing to large manufacturers establishing their facilities in this region and rising
demand from construction and automotive industries. North America will boom by Increasing
disposable income and purchasing power in the region.
Global Paints and
Coatings Market Competitive Landscape
Companies such as The Sherwin-Williams
Company, BASF SE, Axalta Coating Systems, PPG Industries, Valspar Corporation,
RPM International Inc., Akzo Nobel N.V, Nippon Paint Holdings, KCC
Corporation,, Asian Paints , Kansai Paints , Hempel A/S and Jotun A/S are the
key players in the global Paints and Coatings market.
Don’t miss the business opportunity of Paints
and Coatings Market. Consult our analyst and gain crucial insights and
facilitate your business growth.
The in-depth analysis of the report
provides the growth potential, upcoming trends and statistics of Global Paints
and Coatings Market size & forecast. The report promises to provide
state-of-the-art technology of Paints and Coatings production and industry
insights which help decision makers to take sound strategic decisions.
Furthermore, the report also analyzes the market drivers and challenges and
competitive analysis of the market.
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