30 September 2019 -The Global High-Performance Paints Market is expected to display higher growth rate in the upcoming period. Rapid surge in the market is credited to the increasing requirement from end-user industries and development of advanced manufacturing technologies. Growing use of high-performance paints and varnish in the construction and the automotive sectors due to highly preferred solvent properties are major growth factors. Globally, high-performance paints market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of high-performance paints.
The stringent laws and regulation against harmful effects of synthetic paints on environment are compelling market players to adopt high performance paints that complies with the regional and international regulations. Rise in number of market players significantly investing in research and development of the high performance paints, is further fostering the market growth over past few years. With the development of the low cost solutions while avoiding the use of the volatile organic compounds, is propelling market expansion in upcoming years. Furthermore, improved standard of living and increasing middle class housing needs, particularly in the developing economies across the globe are expected to boost market growth as well.
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High-performance paints are specialized type of paints consisting of well-versed set of characteristics that allows determining and reacting to the atmospheric and external stimulus. Such functionalities make them ideal for erosion protection, heat resistance and surface enhancement techniques. Along with the specialized design, high performance paints provide the common functions of coatings similar to protection and decoration, also unique capability of reacting to environmental stimuli.
The high performance paints market is broadly categorized into three major segments based on the application type such as automotive industry, building & construction industry, and consumer goods sector. Building & construction segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of high-performance paints in building & construction segment is attributed to the increasing product penetration and easy availability.
The high-performance paint market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in building & construction sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major share in the high-performance paints industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, increasing infrastructural activities, rising disposable income, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the high-performance paints market are Akzo Nobel N.V., PPG Industries Inc., Daikin Industries Ltd., SACAL International Group Ltd., Inc., Endura Coatings, LLC, Kansai Paint Co., Ltd., The Valspar Corp., Sherwin-Williams Co., and Hempel A/S.
Leading players of High-Performance Paints including:
• Sherwin Williams
• RPM International Inc.
• BASF Group
Market split by Type, can be divided into:
• Interior High-performance Paints
• Exterior High-performance Paints
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