The new report by Expert Market Research titled, ‘Global Paints and Coatings Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global paints and coatings market, assessing the market based on its segments like resin type, technology, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 160 billion
• Forecast CAGR (2021-2026): 4%
• Forecast Market Size (2026): USD 202 billion
The global paints and coatings industry is being driven by the growing construction market all over the world. Along with the rapid increase in the population, there has also been a swift escalation of the disposable income of the people. The improvement in standards of living and growing middle class population has caused a surge in the construction industry. The construction industry uses the paints and coatings in a substantial amount which naturally leads to a robust increase in the market demand for paints and coatings. The developing nations are witnessing the urbanisation and vigorous architectural and industrial construction which is boosting the paints and coatings industry.
Industry Definition and Major Segments
The paints and coatings are the materials which are applied on the surface of an object in the form of a protective covering, that extends the life cycle of object by protecting it from rusting and corrosion. They are also capable of improving the appearance of the objects on which they are applied along with extending the usage life of object.
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On the basis of resin type, the industry can be categorised into:
• Acrylic
• Alkyd
• Epoxy
• Polyester
• Polyurethane
• Vinyl
• Others
The paints and coating market on the basis of technology, can be categorised into:
• Powder-Based
• Water-Borne
• Solvent-Borne
• Others
On the basis of application, market can be classified into:
• Architectural
• Industrial
Industrial paint and coatings are subdivided into general industrial, automotive and transportation, wood, aerospace and marine, protective, and others.
The report also covers the regional paints and coating markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
The introduction of new technologies is expected to be a major driver which will boost the market growth. The new anti-corrosive protection is expected to further proliferate the paints and coatings demand. The recently introduced nanotechnology has been found to improve the performance of paints and coatings like better surface appearance and scratch resistance. The nanotechnology is expected to enhance the hardening and ultraviolet light absorption which will lead to a rise in the industry demand. The coatings are also being used in consumer goods for better looking and more lasting characteristics. Although the COVIDovid-19 had temporarily affected the paints and coating industry adversely, the industry is rapidly recovering and is expected to register a higher rise than before.
Key Market Players
The major players in the market are PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., BASF SE, The Sherwin-Williams Company, RPM International Inc, and Beckers Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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