Paints and Coatings Market Business Opportunities, Growth Insights, Trends, Size to 2026
The Global Paints And Coatings Market report expected to reach $236.1 billion by the end of 2026, the market valued USD 146.5 billion in 2018. Driven by the huge demand for the product across diverse industries, the Paints and Coatings Market will exhibit a CAGR of 6.2% during the forecast period, 2019-2026.
Paints and coatings are widely used across diverse industries. The product is used in interior as well as exterior parts of all infrastructures. The demand for these products has risen dramatically in recent years. Advances in paints and coating manufacturing methods have emerged in favor of market growth. The growing construction industry in several countries across the world will aid the growth of the market in the forthcoming years. Increasing use of the product in public infrastructure projects, coupled with the efforts put in by governments will contribute to the growth of the market.
The report encompasses several factors that have contributed to the growth of the global Paints and Coatings Market in recent years. It highlights major industry developments and gauges the impact of these developments on the market. It analyzes key aspects of the market, with a primary focus on leading products, major applications, and leading companies. The competitive landscape has been discussed in detail.
Top Players Profiled in Paints and Coatings Industry are Mentioned Below:
- PPG Industries, Inc.
- Axalta Coating Systems
- Nippon and Kansai (Kansai Paint Co.,Ltd. )
- AkzoNobel
- Kwality Paints and coatings Pvt. Ltd. (KPCPL)
- Kansai Nerolac Paints Limited
- NIPSEA GROUP
- The Sherwin-Williams Company
- Jotun
- Nippon Paint Holdings Co., Ltd.
- RPM International Inc.
- TIKKURILA OYJ
- S K Kaken Co., Ltd
- Dunn-Edwards Corporation
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Rising Construction Activities to Spur Sales Opportunities
The rising utilization of coating in the protection of buildings & infrastructures from corrosion will bolster the healthy growth of the market. The growing adoption of architectural coatings in interior and exterior house paints, sealers, primers, varnishes, and stains will enable speedy expansion of the market. The growing cognizance about the advantages of coatings such as less-VOC and odorless, high-scrub resistance, semi-gloss sheens will contribute positively to the growth of the market.
Regional Analysis:
Heavy Demand from Residential Sector to Augment Growth in Asia Pacific
The market in Asia Pacific is predicted to grow rapidly during the forecast period. The growth in the region is attributed to the booming construction and automotive industry in China, Japan, and India. The growing demand for paints & coatings in the residential and non-residential infrastructures will have a positive impact on the market. The increasing inclination towards walls, windows, and furniture will spur opportunities for the market during the forecast period. The booming automotive industry is likely to aid the expansion of the market in Asia Pacific.
Europe is predicted to rise exponentially in the forthcoming years owing to the increasing demand from the automotive industry. The well-established automotive industry will enable growth in the region. North America is predicted to rise tremendously during the forecast period owing to the remodeling and refurbishing of existing infrastructures in the region. The increasing technological advancement and growing disposable income are factors predicted to further boost the market in North America.
