A $183.3 Billion Global Opportunity for Paints and Coatings by 2026 - New Research from StrategyR

SAN FRANCISCO, March 24, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Paints and Coatings - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
What's New for 2022?

• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
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• Complimentary updates for one year

Edition: 17; Released: February 2022
Executive Pool: 18491
Companies: 371 - Players covered include Akzo Nobel NV; Asian Paints Limited; Axalta Coating Systems; BASF SE; Berger Paints India Limited; Brillux GmbH & Co. KG; Cromology SAS; DAW SE; Dunn-Edwards Corporation; Hempel A/S; JW Ostendorf GmbH & Co. KG; Jotun Group; Kansai Paint Co. Ltd; Nippon Paint Holdings Co., Ltd; NIPSEA Group; PPG Industries Inc.; RPM International Inc.; S K Kaken Co., Ltd; Shalimar Paints Limited; Sherwin-Williams Company; Teknos Group Oy; Tiger Coatings Gmbh & Co. Kg; Tikkurila OYJ and Others.
Coverage: All major geographies and key segments
Segments: Resin (Acrylic, Polyester, Alkyd, Polyurethane, Epoxy, Other Resins); Technology (Water-based, Powder, Solvent-based, Other Technologies); Application (Architectural, Automotive OEM, Protective, Automotive Refinish, Industrial Wood, Packaging, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Paints and Coatings Market to Reach $183.3 Billion by 2026
Paints and coatings are manufactured using natural or synthetic sources, and are used for imparting color or protecting the surface on which they are applied. In addition, these products are used for improving aesthetics and decorating the surface. Paints and coatings are extensively utilized in a wide range of industries, including manufacturing, marine, construction, automotive, consumer goods, and packaging. The global paints and coatings market has witnessed robust growth in the past few years, attributed to the increasing construction activities and rising automotive vehicle production. In addition, the strong global economic growth resulted in allocation of higher spending for constructing residential as well as non-residential infrastructure, thereby boosting the growth in the market. Increasing consumption of elastomeric coatings in the building and construction industry, provisioning of strong layers with enhanced performance, environmental protection regulations, and growing adoption of paints and coatings in a wide range of end-use applications are anticipated to further propel the growth in the market. Further, rising usage of fluoropolymer coatings in construction and building sector would offer various growth opportunities in the near future.

Amid the COVID-19 crisis, the global market for Paints and Coatings estimated at US$145.3 Billion in the year 2022, is projected to reach a revised size of US$183.3 Billion by 2026, growing at a CAGR of 5.4% over the analysis period. Acrylic, one of the segments analyzed in the report, is projected to record a 4.5% CAGR and reach US$80.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polyester segment is readjusted to a revised 7% CAGR for the next 7-year period. Acrylic resins account for the largest share of the market, owing to their flexibility, adhesion, drying rate, and relatively superior resistance properties, which make them suitable for use in paints and coatings. The rising use of acrylic resins for manufacturing architectural coatings of panels, windows, and exterior and interior walls is significantly driving the demand for these resins.

The U.S. Market is Estimated at $28.1 Billion in 2022, While China is Forecast to Reach $54.7 Billion by 2026
The Paints and Coatings market in the U.S. is estimated at US$28.1 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$54.7 Billion by the year 2026 trailing a CAGR of 7.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR. Asia-Pacific (including Japan and China) is estimated to account for the largest share, attributed to industrial growth, availability of low-cost workforce, and shifting of production bases by several automotive manufacturers to Asia-Pacific. The region is expected to witness the fastest growth over the next few years, owing to the growing application of paints and coatings in the automotive and construction and building industries. Europe also represents a major market, and the demand for paints and coatings in the region would be primarily driven by their increased consumption in the automotive industry. North America is also expected to witness growth in the paints and coatings market through the analysis period. The US ranks among the leading consumers of paints for construction and automotive sectors.

Alkyd Segment to Reach $21.6 Billion by 2026
In the global Alkyd segment, USA, Canada, Japan, China and Europe will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$12.4 Billion will reach a projected size of US$16.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.3 Billion by the year 2026, while Latin America will expand at a 4.1% CAGR through the analysis period.
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.