Paints and coatings Market Competitive Analysis, Upcoming Demand And Growth Fore

Posted by rohit on February 23rd, 2022

Market Overview

Paints and coatings are used as decorative as well as protective coatings. Most of the paints are used to increase surface resistance from harsh environmental conditions. They are classified as waterborne coatings, solvent-borne coatings powder coatings, and specialty coatings. Marine, automobiles, packaging, furniture, aerospace, rail and construction are some of the major end-user of paints and coatings.

The global paints and coatings market is projected to surpass US$ 220 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.4% during the forecast period (2020 to 2027).

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Market Dynamics

The global paints and coatings market has witnessed significant growth in recent past years, owing to the rising emergence and rampant adoption of new coating technologies such as waterborne coatings, high-solids coatings, two-component systems, powder coatings, and radiation-curable coatings. This is expected to foster the demand for paints and coatings in the next few years.

Major players in the global paints and coatings market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in various end-use industries such as transportation, automotive, furniture, packaging, metal manufacturing and others. This scenario is expected to fuel the market during the forecast period.

Detailed Segmentation:

• Global Paints and coatings Market, By Product Type:

  • High solids/radiation cure

    Powder coating

    Waterborne coatings

    Solvent-borne coatings

    Others

• Global Paints and coatings Market, By Application:

  • Automotive & Aviation

    Medical & healthcare

    Residential

    Commercial

    Others

• Key players are operating in the global paints and coatings market are Akzo Nobel N.V., Asian Paints, Axalta Coating Systems, BASF SE, Berger Paints India Limited, Deutsche Amphibolin-Werke Von Robert Murjahn Stiftung & Company, Diamond Vogel Paints, Helios Group, KCC Corporation, Masco Corporation, Nippon Paint, and PPG Industries Inc.

  
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