NASHVILLE, Tenn., Aug. 22, 2022 /PRNewswire/ -- Data Bridge Market research has recently published the comprehensive business research on "Global Paints and Coatings Market" includes historic data, present market trends, future product environment, marketing strategies, technological innovation, upcoming technologies, emerging trends or opportunities, and the technical progress in the related industry. Being a proficient and comprehensive, this Paints and Coatings market report puts a light on primary and secondary drivers, market share, leading segments, possible sales volume, and geographical analysis. This market research report contains thorough analysis of the market structure along with forecast of the various segments and sub-segments of the market. A numerous markets, marketing strategies, trends, future products and rising opportunities are taken into consideration while studying market and preparing this report. The chief areas covered in the Paints and Coatings report include market definition, market segmentation, competitive analysis and research methodology.
Paints And Coatings Market was valued at USD 184.00 billion in 2021 and is expected to reach USD 252.01 billion by 2029, registering a CAGR of 4.01% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Over the last few years, there has been immense growth in the paints and coatings industry due to their increased usage across building and construction, automotive and semiconductor sectors. Additionally, there has been strong growth in the automobile sector, which has significantly contributed to the market. According to the International Organization of Motor Vehicle Manufacturers (OICA), 95,634,593 automobiles were manufactured in 2018. The automobile industry is prepared to see a seismic change with an increased production rate in the future, which will further flourish the paints and coatings market, and the industry will have a certain demand influx, which will raise revenues during the forecast period.
Major Players in Paints And Coatings markets are:
- AkzoNobel N.V. (Netherlands)
- PPG Industries Inc., (U.S.)
- The Sherwin-Williams Company (U.S.)
- RPM International Inc., (U.S.)
- NIPSEA GROUP (Japan)
- Arkema (France)
- Cardolite Corporation (U.S.)
- BASF SE (Germany)
- Evonik Industries AG (Germany)
- Reichhold LLC 2, (U.S.)
- DSM (Netherlands)
- Qualipoly Chemical Corp. (Taiwan)
- Arakawa Chemical Industries,Ltd. (Japan)
- Alberdingk Boley (U.S.)
- Eternal Materials Co.,Ltd. (Taiwan)
- Wacker Chemie AG (Japan)
- DIC CORPORATION (Japan)
Recent Development:
In July 2021, the collaboration between AkzoNobel N.V. and Mercedes-Benz was renewed for another four years. This means that the company will continue to provide vehicle refinish goods and services in China, including automotive and speciality coatings, as well as be a preferred partner in Indonesia.
In March 2021, Qlayers coating technology provides a fully automated, safer, more uniform, and faster solution than the industry's current human coating procedures. It's a cost-effective, long-term solution that eliminates overspray. Customers can use this technique to apply anti-corrosive coating systems and other coating systems.
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The analysis objectives of the report are:
- To know this Market size by pinpointing its sub-sections
- To investigate the sum and estimation of this Market, contingent upon key areas
- To consider the significant players and investigate their development plans
- To investigate this Market concerning development patterns, possibilities, and furthermore their interest in the whole area
- To analyze this market size (volume and worth) from the organization, basic locales/nations, items and application, foundation data
- Essential overall this Market fabricating organizations, to indicate, explain, and examine the item deals sum, worth and piece of the pie, market contention scene, SWOT investigation, and improvement plans for future.
- To analyze serious advancements, for example, extensions, courses of action, new item dispatches, and acquisitions available
Opportunities
- Regulations boosting Demand for VOC-free Coatings
Moreover, the initiatives taken by the public sectors by implementing environmental regulations in order to raise the demand for VOC-free coatings extend profitable opportunities to the market players in the forecast period of 2022 to 2029. The European Commission and other Federal government organizations develop new rules and regulations, such as the Eco-product Certification Scheme (ECS). These rules ensure that the environment is green and sustainable, with low or no harmful VOC emissions. These rules encourage paint and coatings firms to invest in bio-based raw materials, resulting in more environmentally friendly paints and coatings. Furthermore, government restrictions in the United States and Western Europe, particularly those relating to air pollution, will continue to encourage the adoption of innovative, low-polluting coating technologies.
- Technological Advancements and Developments
Additionally, the technological advancements in powder coating technology coupled with the developments to increase the performance of coatings will further expand the future growth of the paints and coatings market.
Drivers
- High Demand for Paints and Coatings
The increase in applications of fluoropolymers in the building and construction industry and rise in demand for powder coatings in shipbuilding and pipeline industries is estimated to carve a way for the growth of the market. Fluoropolymers like polyvinylidene difluoride (PVDF) are utilized in both industrial and architectural coatings in the building and construction industry. PVDF is commonly employed in architectural applications when both outstanding look and long-term substrate protection are required. PVDF is the fluoropolymer of choice because it is solvent insoluble in ester and ketone solvents and may be formed into solvent dispersion coatings. One of the primary factors driving the growth of the paints and coatings industry is the increase in the number of residential and commercial projects around the world.
- Increased Demand Across Semiconductor Sector
The semiconductor industry was valued at $426.4 billion in 2018, and demand is expected to expand at a significant CAGR of 5.88 percent from 2019 to 2025. Nowadays, these semiconductors are coated with a special type of spray paint that gives those features like magnetic response and electrical conductivity. As the semiconductor sector is expected to increase, vendors in the paints and coatings market will benefit.
Furthermore, the rapid urbanization and industrialization in emerging countries, such as India, China, and Southeast Asia, will further propel the paints and coatings market growth rate. Additionally, the rise in use of powder coatings in the automotive industry and expansion of end use industries are projected to bolster the growth of the market.
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Segmentation: Paints And Coatings Market:
Resin Type
- Acrylic
- Epoxy Resin
- Alkyd
- Polyurethane
- Polyester
- Others
Technology
- Water-Based Technology
- Solvent-Based Technology
- High Solids
- Powder Coating
- Others
Application
- Architectural Application
- Industrial Application
Paints and Coatings Market Regional Analysis/Insights
The paints and coatings market is analyzed and market size insights and trends are provided by country, resin type, technology and application as referenced above.
The countries covered in the paints and coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rise in construction activities and growing demand from the automotive sector in emerging countries, such as China, India, Japan, and Southeast Asia within the region.
Europe on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the expansion of the construction sector in various countries in the region.
Table Of Content:
Section 01: executive summary
Section 02: scope of the report
Section 03: research methodology
Section 04: introduction
Section 05: market landscape
Section 06: market sizing
Section 07: five forces analysis
Section 08: market segmentation by product
Section 09: market segmentation by Application
Section 10: customer landscape
Section 11: market segmentation by end-user
Section 12: regional landscape
Section 13: decision framework
Section 14: drivers and challenges
Section 15: market trends
Section 16: competitive landscape
Section 17: company profiles
Section 18: appendix
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