Asia-Pacific will Dominate the Paints and Coatings Market
Asia-Pacific will have the largest share in the Paints and Coatings Market during the forecast period owing to the growth of automobile and construction industries. Countries such as India, Vietnam, and Taiwan will witness increasing number of dye manufacturers, which will further drive the market in the region. The growth of the electronic industries in Thailand, China, and India also drives the market in Asia-Pacific.
Selected Regulatory Analysis Done in the Full Report:
The architectural and decorative coats sector will have the largest share in the Paints and Coatings Market in the coming years. In emerging economies, the increase in construction spending will spur the demand for varnishes and coats in buildings and construction, which in turn elevates the demand for this sector. The growing demand for coats by the water based and powder based glazes owing to changes in customer preferences will drive the product demand.
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Selected Driving Factors Mentioned in the Full Report:
Increasing number of nuclear families will drive the demand for new houses which in turn drives the growth of industrial paint.
The increasing market for consumer goods and automobiles will enhance the demand for the paints and coatings market.
Advancements in technology boost the growth of coating products during the forecast period.
Increasing awareness of VOC content among the end users will enhance the growth of water based products which in turn drives the paints and coatings market.
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Key Players of the Paints and Coatings Market:
The key players of the Paints and Coatings Market include PPG industries, Akzonobel, and Sherwin Williams. PPG industries provides industrial coatings for appliances, agricultural and construction equipment, consumer electronics, etc. Akzonobel is involved in the production of marine coatings, metal coatings, protective coatings, powder coatings, and speciality coatings. Sherwin Williams produces high quality coatings for all exterior substrates.
Browse Related Reports:
- Decorative Coatings Market: By Resin Types (Acrylic, Alkyd, Polyurethanes and Others); By Formulation (Water-Based coatings and Solvent-Based Coatings); By Substrate, By Coat Type By Application (Architectural Coatings, Automotive, Domestic Appliances, and Others) & By Geography (North America, Europe, APAC and Row) - Forecast(2018-2023)
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