WiseGuyReports.com adds “Global Paints & Coatings Market Size study, Resin, Technology, Application and Regional Forecasts 2019-2026” reports to its database.
PUNE, MAHARASTRA, INDIA, January 16, 2020 /EINPresswire.com/ — Paints & Coatings Market:
Global Paints & Coatings Market is valued approximately at USD 146 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.40 % over the forecast period 2019-2026. Paints and Coatings are materials that are applied to surfaces to protect it from surface deterioration through corrosion, rusting, and erosion. These materials offer properties like adhesion, wettability and corrosion resistance. Thus, paints and coatings are majorly used in Industries such as construction, automotive, real estate and others. As per the Global Construction 2030 report the Construction market is expected to grow to USD 8 trillion by 2030 with an increase of 85% in the volume of construction output. This increase in the construction demands paints and coatings for the protection and the appearance of the building. Further, the growing Automotive industry and increasing application of paints and coatings in Aerospace and Marine industry has led the adoption of Paints & Coatings across the forecast period. As per Statista, the global market for Automotive paints was USD 8.46 billion in 2017 which is projected to increase by 2023. Also, the increasing demand for semiconductors is expected to fuel the demand for Paints & Coatings. However, the rising cost of the raw materials used in manufacture of Paints and Coatings like resins, Pigments, Solvents and additives hinders the market growth.
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The regional analysis of global Paints & Coatings market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to increase in demand for low cost housing and commercial housing in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as growing real estate sector, increased investment by government in the transportation would create lucrative growth prospects for the Paints & Coatings market across Asia-Pacific region.
Major market player included in this report are:
AkzoNobel N.V. (Netherlands)
PPG Industries (US)
Sherwin-Williams Company (US)
Nippon Paint Holding Co. Ltd. (Japan)
Axalta Coatings System LLC (US)
Tikkurila OYJ (Finland)
Jotun A/S (Norway)
RPM International Inc. (US)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Others (UV & EB)
Others (Silicone, amino, polyurea, polyolefin, nitrocellulose, plastisol, polyamide, vinyl-based, and hybrid coatings)
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Source: EIN Presswire