The global paints & coating market valued at USD 160 billion in 2019. The global paint & coating market is expected to grow at a CAGR of 3.9% during the period of 2020-2026.
Covid19 has disrupted the all the markets across the globe. The pandemic has caused declined in paints & coating market by impacting architectural and industrial sector. The shutdown of industries has negatively impacted the paints & coating markets. However it is estimated to experience some boost by the year 2021.
For more details, visit: Global Paints and Coatings Market By Resin Type(Acrylic, Alkyd, Others), By Technology (Waterborne, Powder, Others), By Application (Automotive Coatings, Wood Coatings, Others), By Region–Forecast & Opportunities to 2026
Paints & coatings market are sold by various features such as guarantee against corrosion, multi-year performance etc. The companies offering such features are tend to growth more. The companies are introducing new products attracting the crowds.
On the basis of resin, the global paints and coatings market is segmented into acrylic, alkyd, epoxy, polyurethane, amino, saturated polyester and unsaturated polyester. Acrylic segment has accounted for largest market share of XX% in 2019. The excellent weathering properties and stabilization has driven the market in acrylic resin segment in paints and coating market.
On the basis of technology, the global paints and coatings market is segmented into waterborne coatings, powder coatings, solventborne coating and other. The Waterborne coating accounted for XX% of market share in 2019 which is largest at that time.
On the basis of application, the global paints and coatings market is segmented into marine & protective coatings, general industrial coatings, automotive coatings, wood coatings, packaging coatings, architectural coatings and others. Architectural segment in paints & coatings market has accounted for XX% market share in 2019. The growing constructional work across the globe has driven the market.
Asia-Pacific region has accounted for largest market share of XX% in 2019. Asia-Pacific region is expected maintain its dominance and register growth at highest CAGR. Constructional activities are rising rapidly in this region and the demand for paints and coatings is also rising from automotive sector in the countries such as Southeast Asia, Japan, China and India driving the market for paints and coatings. The raw materials are easily available along with less stringent laws of VOC emission has created huge opportunities in this region.
The key market players in paints and coating industry are Sherwin Williams, Akzo Nobel N.V., Axalta Coating Syatems LLC, PPG Industries, RPM Inc, Henkel AG & Company, KGaA, Jotun, Nippon Paint holdings Co., Asian Paints, Kansai Paint Co., Solvay SA, Base SE, Berger Paints, Shalimar paints, Diamond vogal, Indigo paints and Hempel A/S.
- What are the expected industry trends over the next three to five years?
- Which of the paints & coating technology is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?