Paints and Coatings Market Prosperity Attributed to Thriving Automotive Industry
Increasing urbanization at an incredibly fast pace is influencing the rise in number of automotive vehicles in the world. Therefore, services offered by the paints and coatings marketplace are used in large quantities to cope up with the escalating automotive production. As per IndustryARC's findings, the global paints and coatings market size was worth $127,855 million in 2018 and is set to grow with a compound annual growth rate (CAGR) of 4.69% throughout the forecast period 2019-2025.
The report is titled: “
Paints and Coatings Market: By Formulation (High Solids, Water Borne,
and Others); By Component (One Component and Two-Component); By Resin (Alkyd,
Epoxy, and Others); By Application (Decorative/Architectural, Automotive OEM,
and Others); & By Geography - Forecast (2019-2025).” It provides detailed market research through several aspects including market trends, market growth, and competitive landscape of the global paints and
Paints and Coatings Market: Leading Segments
Architectural, decorative paints and coatings are acknowledged as the fastest growing application which projects at a CAGR of 5.10% during the aforementioned foreseen period. This is due to it being the ideal choice for interior wall coatings at schools and hospitals as well as corporate infrastructures.
The rapid expansion of the automotive and manufacturing industries in China and India are amplifying the necessity of paints and coatings in the APAC region. Growth in the number of new paint industries in Indonesia coupled with the increment in automotive production from 1,177,979 [HS1] in 2016 to 1,216,615 in 2017 is reflecting positively over the growth of paints and coatings market in this county. Thus, APAC held a dominating demand share of 44% among other regions in the global paints and coatings market for the year 2018.
Paints and Coatings Market: Disruptive Trends
o Silicone additives addition in the paints and coatings formulations increasing the final product’s performance by enhancing the product properties and processes.
o Rising demand for metals in transport-related facilities, bridges, water, and waste treatment networks, as they provide better infrastructure. In addition to this, growing commercial businesses are boosting the need for coatings aimed at asset protection against rust oxidation and corrosion.
o Increased infrastructure spending in industrial maintenance and specialty roofs are propelling the growth of the global paints and coatings market.
o High preference of protective coatings mainly from oil and gas industry and aerospace industry to protect the metals from harsh weather condition. Less volatile organic compound (VOC) emission regulations and standards are strengthening the demand for low VOC paints and coatings. Physical properties of these paints and coatings which include biodegradability, low VOC emission and renewability are gaining traction of manufacturers.
o Curable powder coatings are chosen because of their energy conservation. Powder coatings on engineered wood products are growing at a higher rate but the development of powder coatings for hardwood has become a disruptive trend and creating significant opportunities
Paints and Coatings Market: Competitive Landscape
Sherwin Williams, PPG Industries Inc., AkzoNobel NV, RPM International, Nippon Paints, Axalta Coatings Systems, BASF Coatings GmbH, Asian Paints, Kansai Paints, Jotun, and Hempel are the central players which are operating with major paints and coatings market share in the global paints and coatings market.
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What can you expect from the report?
The paints and coatings market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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