The global paints and coatings market value is forecasted to reach US$204.83 billion in 2023, growing at a CAGR of 4.92%, for the period spanning from 2018 to 2023. The factors such as escalating construction expenditure, growing automotive industry, increasing urban population, rising household consumption expenditure and improving economic conditions are expected to drive the market growth. However, growth of the industry would be challenged by increasing raw material prices and stringent regulations. A few notable trends include rising consolidation of market players, increasing preference for professional contractors, growing adoption of natural ingredients by chemical companies, high demand for personalized paints solutions in developing economies and technological advancement.
The paints and coatings industry consist of manufacturers of paints, varnishes, polishes, shellacs and stains. It comprises of three sectors: architectural, industrial and special purpose sector. The architectural coatings sector depends heavily on the construction and manufacturing sector, whereas industrial coatings are connected closely to the automotive, major appliances and industrial equipment sectors. The special purpose includes a wide collection of divergent coatings.
The fastest growing regional market is Asia-Pacific, owing to rising launch of innovative & economical water-solvent paints, increasing preference of personalized colours by urban population and increasing second-hand automobile repaint activities.
Scope of the report:
• The report provides a comprehensive analysis of the global paints and coatings market, segmented on the basis of product types i.e. architectural, industrial and special purpose.
• The major regional markets (Asia-Pacific, North America and Europe) have been analysed along with country coverage of India and US.
• The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players i.e. The Sherwin-Williams Company, PPG Industries, Inc., Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., Axalta Coating Systems and BASF SE are also presented in detail.
Key Target Audience:
• Paints and Coatings Manufacturers
• Raw Material Suppliers
• End Users
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities