Paints & Coatings Market:
The Global Paints & Coatings Market was USD 135542.6 million in 2017 and is forecasted to grow at a healthy CAGR of 5.06% during the assessment period. Among various application industries, architectural segment accounted for the largest market share of 55.1% in 2017 with a market value of USD 78001.9 million. Increasing use of paints & coatings in the residential construction activities is driving the growth of the architectural segment, which is expected to dominate the market during the forecast period. The industrial segment accounted for 44.9% of the global market share with a market value of USD 63450.5 million in 2017. The segment is estimated to grow at CAGR of 4.72% during the forecast period to reach USD 83662.7 million by 2023 end due to growing demand for coatings from the automotive and general industrial segment.
Paints & Coatings are used to provide glossy and decorative finish to the product. These coatings are either composed of organic or non-organic resins. They offer excellent adhesion with high corrosion and abrasion resistance. These coatings are applied to increase the durability and performance of the product. Owing to these factors, they are used in various applications such as architectural, automotive, wood, industrial, and others.
This Paints & Coatings Market Research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.
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Industry Key Players:
3M, Jotun Group,
The Sherwin-Williams Company,
TIGER Coatings GmbH & Co. KG,
Dai Nippon Toryo Co. Ltd,
Kansai Nerolac Paints Limited,
Hentzen Coatings Inc.,
Berger Paints India Limited,
National Paints Factories,
Axalta Coating Systems Ltd,
Guangzhou Kinte Paints & Coatings,
Industry Segmental Analysis:
The Global Paints & Coatings Market is segmented into resin type, technology and application. On the basis of resin type, the market is further categorized into acrylic, alkyd, epoxy, polyurethane, polyester, and others. Among these, the acrylic resin segment holds a majority of the market share due to its extraordinary features offered by the product such as biocompatible, antioxidant, and corrosion resistance. The epoxy resin segment is projected to witness a rapid growth due to its growing consumption in heavy end industries. The market by technology is further categorized into water, solvent and powder segments. Among these, the powder segment is accounted for major share in the market due to its growing use as a biocompatible and feasible product. The strict government regulations implemented by the regional governments has prompted manufacturers and investors to shift their focus from solvent coatings to powder based products.
The water segment is estimated to witness a rapid growth in the market due to its non-toxic and soluble nature. Architectural, automotive, wood, industrial and others are segregated on the basis of application segment. Additionally, it is predicted that the automotive segment is set to witness a higher CAGR during the forecast period.
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