Global Paints And Coatings market was valued US$ 160 Bn in 2017 and is estimated to reach US$ 250 Bn by 2026 at a CAGR of about 5.5 % during a forecast.
The report on Global Paints And coatings market is segmented by resin, by technology, by an end user, and by region. Based on resin paints And coatings market is divided into acrylic, alkyd, epoxy, polyurethane, and polyester. Based on technology paints and coatings market is bifurcated into water-borne, solvent-borne, alkyds, and UV cured coatings. In terms of end-user industry into architectural, automotive, wood, protective coatings market, general industrial, transportation and packaging. Geographically into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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Increase in activities of various areas like the construction industry, automotive, general industrial, marine, coil, wood, aerospace, rail, and packaging coatings is driving the growth of the Global Paints And coatings market. The growth of Global Paints And coatings market is mainly driven by developing countries which is being increased every year owing to the ever-increasing global population. Increase in disposable income and improved lifestyle is further fuelling the demand.
Paints & Coatings Market
Acrylic resin dominated the paint & coatings market in 2017. Acrylic resin offers weatherproof, ideal for outdoor, last for decades, does not yellow when exposed to sunlight, even after years, excellent gloss properties, mechanical properties i.e. scratch resistant, makes the paint shinier. Trending fiber component for automobile resulted in the popularity of epoxy resin. Epoxy is predicted to grow at higher CAGR. Epoxies are known for their excellent adhesion, chemical and heat resistance, good-to-excellent mechanical properties and very good electrical insulating properties.
Waterborne coatings dominate the paint & coatings market and will continue its dominance throughout the forecast attributed to eco-friendly nature. Waterborne coatings are followed by solvent-borne coatings and powder coatings. Stringent regulation concerned with VOCs will hinder the market of solvent-borne coating in a forecast. Power coating will grow at a moderate rate owing to benefits offered such as zero VOC, easy rework of workpiece and powder reuse.
Escalating construction activities and renovation of infrastructure led by economical emerging countries in various region drive the market for an architectural segment. The architectural segment is dominating the paint and coatings market. Automobile segment is the second leading end-user segment. Lightweight vehicle manufacturing will augment the market in the forecast at high CAGR.
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The Asia Pacific dominates the paints and coatings market. The growth of paints and coatings market in the Asia Pacific is mainly driven by the developing countries like China, India, and Japan. Europe is the second largest market of paint and coatings. North America reflects saturate market will register growth at the slow pace.
Key Players of the Paints & coatings market include PPG Industries Inc., AkzoNobel NV, Sherwin Williams, RPM International, Nippon Paints , Sherwin-Williams Company, Valspar Corporation, Kansai Paint Company, Hempel A/S, Jotun A/S, Kansai Paints, Asian Paints, BASF Coatings GmbH, Axalta Coatings Systems, Berger Paints India Limited, Shalimar Paints Limited, Jotun A/S, Axalta Coating Systems Ltd., Masco Corporation, Jotun, Boero Yachtcoatings, Chugoku Marine Paints Ltd., Hempel A/S, Kop-Coat Marine Group
The Scope of Global Paints and Coatings Market:
Global Paints and Coatings Market by Resin:
Global Paints and Coatings Market by Technology:
• High Solids
• UV Cured Coatings
Global Paints and Coatings Market by End-user Industry:
• Protective Coatings Market
• General Industrial
Global Paints and Coatings Market by Region:
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Player Analyzed in the Paints and Coatings Market Report:
• GrafTech International Holdings Inc.
• Paints and Coatings India Ltd.
• Triton Minerals Ltd.
• Mason Paints and Coatings, Inc.
• SGL Group.
• Northern Paints and Coatings Corporation
• Asbury Paints and Coatings Mills, Inc.
• Energizer Resources Inc.
• Mason Paints and Coatings
• Flinders Resources Ltd.
• Focus Paints and Coatings Inc.
• Showa Denko K.K.
• SGL Carbon SE
• SEC Carbon Limited
• Paints and Coatings India Limited.
• Tokai Carbon Co., Ltd
• Alabama Paints and Coatings Corp
• Syrah Resources Limited
• Nippon Paints and Coatings Industries, Co., Ltd.
• AMG Advanced Metallurgical Group