Report Ocean published the latest research report on the Paints And Coatings Market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Paints And Coatings Market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate. [Download Free Sample]
The global paints and coatings market size was US$ 161.1 billion in 2021. The global paints and coatings market is forecast to grow to US$ 261.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
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The study perfectly bridges the gap between the market’s qualitative and statistical data. The research covers consumption and value historical data from 2017 to 2022 and estimates until 2031.
Additionally, the report includes details on supply-demand, market growth, and improvement elements, business profits and losses, economic grade, and a few tactical suggestions. Statistical tools are used to copy the numerical statistics along with SWOT analysis, BCG analysis, and PESTLE analysis. Statistics are presented graphically to make it simple to understand the numbers and information.
An overview of the global market is provided in the research work report. This section offers the perspectives of important participants, a review of the sector, an outlook across important regions, financial services, and several market concerns. The scope of the investigation and the report’s instructions will determine this part.
Factors Influencing the Market
The global paints and coatings market is forecast to gain substantial traction due to growing construction activities and rising living standards. Furthermore, significant advancements in construction activities will contribute to the growth of the global paints and coatings market.
The growing population, combined with rapid urbanization, will also drive the paints and coatings market forward. In addition, increasing industrialization and rising number of projects related to building and infrastructure development will benefit the paints and coatings market during the study period.
The aesthetic and protective benefits of paints and coatings will also escalate the market growth. Further, rising awareness related to the advantageous features of architectural coatings, such as protection and decoration, will drive the overall market forward.
The rapidly growing automotive industry will also contribute to the growth of the global paints and coatings market. Paints and Coatings are widely used to paint the component of automobiles. Further, eco-friendly paints and coatings are expected to gain wide traction due to rising environmental concerns. On the contrary, fluctuating prices of raw materials may limit the growth of the global paints and coatings market.
COVID-19 Impact Analysis
The COVID-19 pandemic negatively affected the global paints and coatings market, owing to the steep decline in construction projects. Further, work-from-home policies also declined the demand for architectural development, which ultimately affected the global paints and coatings market.
Regional Analysis
The Asia-Pacific paints and coatings market is forecast to register substantial growth, owing to the rising regional population and increasing urbanization across the region. Furthermore, improving economic growth and a mounting range of construction projects will contribute to the growth of the Asia-Pacific paints and coatings market.
The easy accessibility of raw materials in the region and lenient laws related to VOC emission will also benefit the paints and coatings market in the region.
The contribution of government bodies will also have a substantial impact on the market in the coming years. For instance, the government of India has introduced considerable projects, such as Housing for All initiative that aims to build nearly 20 million affordable homes for the urban poor. Thus, such projects will drive the Asia-Pacific paints and coatings market forward. Additionally, the steeply rising automotive sector of the region will offer ample growth opportunities for the paints and coatings market during the study period.
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Competitors in the Market
• PPG Industries
• Akzo Nobel NV
• Asian Paints Ltd.
• Axalta Coating Systems
• BASF SE
• Berger Paints India Ltd.
• Diamond Vogel Paints
• Dow Inc.
• Hempel A/S
• Jotun A/S
• Kansai Paint Co., Ltd.
• KCC Corporation
• Other Prominent Players
The report gives a thorough understanding of each segment and offers potential estimates for major applications and awareness of emerging prospects. Every regional market is carefully examined to determine its potential growth, development, and demand over the coming years.
Segmentation Overview
The global paints and coatings market segmentation focus on Resin, Technology, Application, and Region.
By Resin
• Acrylic
• Alkyd
• Epoxy
• Polyurethane
• Polyester
• Others
By Technology
• Waterborne
• Solvent-borne
• Powder
• Others
By Application
• Architectural
• Residential
• Non-residential
• Industrial
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By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
Table of Content
Chapter 1: Global Paints And Coatings Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Paints And Coatings market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Paints And Coatings Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Paints And Coatings market Size Forecast (2024-2032).
Why is our study significant?
It is essential for a number of reasons. Here are a few of the main ones:
- A business might assess the viability of a new or existing product or service.
- Aids businesses in discovering and creating new market segments
- Enables businesses to assess consumer demand before introducing new services, goods, or features.
- Increases the general effectiveness of marketing, advertising, and promotional campaigns.
- Analyzes market trends to assist businesses in creating plans to adapt to them
- Businesses can use this tool to decide where their products should be placed.
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