$200+ Billion Paints & Coatings Market 2017 - Global Forecasts to 2022 - Research and Markets
DUBLIN, June 8, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Water-Based, Solvent-Based, High Solids, Powder), Application (Architectural & Industrial), and Region - Global Forecasts to 2022" report to their offering.
The paints & coatings market is projected to reach USD 209.36 Billion by 2022, at a CAGR 5.45% from 2017 to 2022
The market growth in recent years can be attributed to the increased demand for paints & coatings in the Asia-Pacific region. The paints & coatings market is largely driven by the rising demand from construction industry. Economic and demographic growth, increasing residential building activities, growing urbanization, and increasing expenditure on housing construction are the important drivers for the global paints & coatings market.
Manufacturers are engaged in business expansion to cater to the increased demand for paints & coatings. However, formulation and implementation of new regulations, such as REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) and various other directives to control solvent emissions are affecting the growth of the paints & coatings market across the globe. The Eurozone crisis of 2012 has also affected the growth of the paints & coatings market globally, as several companies reduced their production as part of their cost-cutting strategy to survive in the market.
By application, the industrial segment is projected to grow at the highest CAGR during the forecast period. Increasing demand for paints and coatings from automotive, marine, aerospace, coil coating, transportation, rail coating, and packaging industries is projected to drive the global paints & coating market during the forecast period.
Asia-Pacific was the largest market for paints & coatings, having accounted for the maximum market share, in terms of volume, in 2016. Key countries in the Asia-Pacific market include China, India, Japan, and South Korea. The Asia-Pacific region is a rapidly expanding paints & coatings market, owing to the growing economy and increasing middle-class population. This growth is driving the demand for many building and industrial materials, including paints and coatings.
Market Dynamics
Drivers
- Green Environmental Regulations
- Provision of Durable Coatings With Better Performance and Aesthetics
- Growing Popularity of Elastomeric Coating in Tilt-Up Concrete in Building & Construction
- Increasing Demand From End-Use Industries
Restraints
- Difficulty in Obtaining Thin Films in Powder Coating
- Requirement of More Drying Time for Water-Based Coatings
- Difficulty in Transportation of Coil Coatings in the Developing Countries
Opportunities
- Increasing Applications of Fluoropolymer in the Building & Construction Industry
- Attractive Prospects for Powder Coatings in Shipbuilding and Pipeline Industries
Challenges
- Stringent and Regulatory Policies
- Environmental Challenges With Respect to Wastewater Discharge
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Paints & Coatings Market, By Resin Type
7 Paints & Coatings Market Analysis, By Technology
8 Paints & Coatings Market, By Application
9 Paints & Coatings Market, By Region
10 Competitive Landscape
10.3 Competitive Benchmarking
11 Company Profiles
- Akzonobel N.V.
- Asian Paints Limited
- Axalta Coating System LLC
- BASF Coatings GmbH
- Beckers Group
- Berger Paints India Limited
- Diamond Vogel Paints
- Dunn-Edwards Corporation
- Hempel A/S
- Indigo Paints Pvt Ltd
- Jotun A/S
- Kansai Paints Co., Ltd.
- Kelly-Moore Paints
- Masco Corporation
- Nippon Paint Holdings Co., Ltd.
- PPG Industries
- RPM International Inc
- S K Kaken Co., Ltd
- Sacal Inetrnational Group Ltd.
- Shalimar Paints
- Sherwin-Williams Company
- Tiger Coatings GmbH & Co. Kg
- Tikkurila OYJ
- Valspar Corporation
- Vista Paints Corporation
For more information about this report visit http://www.researchandmarkets.com/research/qtx6dr/paints_and
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