Paint & Coating Market:
The GMI Research expects the paint & coating market to expand at a significant rate. From a regional perspective, the Asia-Pacific is anticipated to increase at a higher CAGR due to the strong demand from the automotive sector and growing construction activities in emerging countries, including Japan, China, and India.
Paint & Coating Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The increased usage of paints & coatings for the protection and decoration of infrastructures is a primary factor driving the growth of the global paints and coatings market size. There are various architectural advancements, such as interior and exterior house paints, sealers, varnishes, primers, and stains. Architectural paints are easily available in different textures, allow less volatile organic compounds (VOC), and provide odorless paints with increased-scrub resistance. In the industrial sector, organizations highly consider the sustainability aspect while performing numerous business operations. As per paints and coatings market research, the major aim is to reduce volatile organic compounds (VOC) to include renewable materials, process efficiency improvement, waste minimization, and resource conservation & energy. These factors are augmenting the growth of the market.
The top major companies in the paints & coating market are emphasizing on improving the performance by the launch of new eco-friendly products. According to paints and coatings market overview, the leading organizations in this market are rapidly launching technologies to raise the performance of coatings which is one of the emerging paints and coatings market trends that is energizing the growth of the paint & coating market. For example, PPG Industries, Inc. displayed high performance and eco-friendly coating products and technologies at the Shanghai New International Expo Center in 2020. This factor will fuel the growth of the market in the coming years. The emergence of the COVID-19 pandemic has negatively influenced the growth of the paints and coating market in architectural and industrial sectors. Many economies have experienced a temporary slowdown in activities across the industries that utilize paints and coating, thus hindering the growth of the paints and coatings market in the upcoming years. However, the market is predicted to recover by the end of 2021 as the manufacturing activities in the industrial and transportation sector resumes.
Paint & Coating Market’s leading Manufacturers:
- Akzo Nobel N.V.
- PPG Industries, Inc.
- Axalta Coating Systems, LLC
- The Sherwin-Williams Company
- RPM International Inc.
- Jotun
- Henkel AG & Company, KGaA
- BASF SE
- Nippon Paint Holdings Co., Ltd.
- Kansai Paint Co.,Ltd.
Paint & Coating Market Segmentation:
Segmentation by Product:
- High Solids/Radiation Curing
- Powder-Based
- Water-Borne
- Solvent-Borne
- Others
Segmentation by Material:
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
Segmentation by Application:
- Architectural & Decorative
- Non-Architectural
- Automotive & Transportation
- Wood
- General Industrial
- Marine
- Protective
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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