Global Paints & Coatings Market: Market Segments: By Resin Type (Acrylic, Polyester, Polyurethane, Epoxy); By Formulation (Water-Based, Solvent-Based, Powder Coatings, UV Coatings); By Application (Architectural & Decorative, Industrial, Marine) and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Sequential coating application of paints or paints applied over metal coatings to form a ‘duplex’ coating system is typically modern specifications. The most widely used material for protecting steel is painted. Generally, the defensive paint schemes consist of primer and finish coats. Binders, solvents, pigments, and chemicals are the fundamental ingredients used to produce paints.
Global Paints & Coatings Market is expected to project a notable CAGR of XX.X% in 2030.
Global Paints & Coatings Market to surpass USD XXXX million by 2030 from USD XXXX million in 2018 at a CAGR of XX% throughout the forecast period, i.e. 2019-30. The main factors helping the market to prosper are expansion in the automotive industry, growth in construction activities, and growing consumption of paints and coatings by the oil and gas industry.
Global Paints & Coatings Market: Segments
Acrylic Segment to grow with the highest CAGR of XX.X% during 2019-30
Global Paints & Coatings Market is segmented by resin type into polyester, acrylic, epoxy, polyurethane, and others. The greater market share in 2019 was accounted for by the acrylic in the paints and coatings market in 2019, which can be mainly attributed to the high adoption of acrylic paints on account of their high elasticity, solubility, versatility, water-resistance, and non-toxicity.
Global Paints & Coatings Market: Market Dynamics
Growth of the construction industry
In developing countries, there is a large untapped market for the construction industry, which has been increasing every year due to the increasing global population. Demand for construction materials, including paints and coatings, is created by these factors. Demand for consumer goods and automobiles has been fueling the increasing population and per capita income, which in turn is boosting industrialization.
Increasing raw material prices
Resins, pigments, solvents, and additives are the traditional raw materials employed for the manufacture of paints and coatings. The rising cost of these raw materials is leading to additional investments by manufacturers of paints and coatings.
Global Paints & Coatings Market: Regions
Global Paints & Coatings Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Global Paints & Coatings Market in Asia-Pacific held the largest market share of XX.X% in 2019 and the trend is likely to continue during the forecast period. Increasing construction activities and increasing demand from the automotive sector are expected to drive the market over the forecast period in emerging countries, such as China, India, Japan, and Southeast Asia. In addition, the easy availability of raw materials, coupled with less stringent legislation on VOC emissions compared to legislation in North America and Europe, has provided the market with enormous growth opportunities.
Key Developments in the Market:
• In June 2019, Sherwin-Williams introduced a new quick-drying coating, Moisture Vapor Barrier Interior Latex Primer/Sealer, to help reduce the moisture through ceilings and walls. The new coating provided a cost-effective solution to the problems faced in manufactured housing facilities.
Global Paints & Coatings Market: Key Players
• The Sherwin-Williams Co
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• 3M Co.
• Akzo Nobel NV
• BASF SE
• Henkel AG & Co. KGaA
• Jotun AS
• Nippon Paint Holdings Co. Ltd.
• PPG Industries Inc.
• RPM International Inc.
• Sika AG
Global Paints & Coatings Market report also contains analysis on:
Global Paints & Coatings Market:
By Resin Type:
• Powder coatings
• UV- coatings
• Architectural and decorative
o Automotive OEM
o Automotive refinish
• Paints and Coatings Market Dynamics
• Paints and Coatings Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints