LONDON, Nov. 12, 2014 /PRNewswire/ -- This BCC Research report studies the role of paints and coatings in providing color and protection, explains the technology, highlights the innovation behind coatings development and production, and provides market overview, analyzing major market trends both in terms of region and application segment. In addition, the report details the new developments taking place in the paint and coatings industry with respect to continuous improvements in environmental performance.
Use this report to:
- Gain detailed information about the new developments taking place in the paint and coatings industry with respect to continuous improvements in environmental
- Analyze specific markets for consumption of paints and coatings in different regions.
- Learn about the growing opportunities in the field of paints and various types of coatings.
- In 2013, the global paints and coatings market was worth $117.7 billion. The market has shown a healthy increase in the past few months and is expected to increase to $122.5 billion by the end of 2014. The market is expected to reach $127.0 billion by the end of 2015 and further increase to $155.6 billion by 2020, with a compound annual growth rate (CAGR) of 4.1% over the five-year period of 2015 through 2020.
- The solvent-borne coating technology segment of the market is expected to reach nearly $34.6 billion by 2014 and $34 billion by 2015. Declining at a CAGR of -2.0%, this market is expected to reach $30.8 billion by 2020.
- The powder/emerging coating technologies segment of the market is expected to be $28.4 billion by 2014. With a CAGR of 7.2%, BCC Research expects this market to reach $30.2 billion by 2015 and $42.8 billion by 2020.
Paint is the term normally used to identify surface coating products, including solvent-borne formulations, varnishes, enamels, lacquers and water-based systems. In the painting process, a liquid consisting of several components is applied to a surface and dries to a thin plastic film. Normally the major constituents of paints are solvents.
Additionally, powder coatings and high-solids paints, which are non-liquid paints, have been developed. Such newly developed materials have led to the use of the term
"coating" instead of the term "paint." Functionally, paints and coatings provide an aesthetically pleasing colored and/or glossy surface, as well as helping metal and other
substrates withstand exposure to both their environment and everyday wear and tear. The term coating in this report excludes inks, thinners and raw materials such as
pigments and solvents.
STUDY GOALS AND OBJECTIVES
This report studies the role of paints and coatings in providing color and protection, explains the technology, highlights the innovation behind coatings development and
production, and provides a market overview, analyzing major market trends both in terms of region and application segment. In addition, the report details the new
developments taking place in the paint and coatings industry with respect to continuous improvements in environmental performance. The report analyzes the market for various coating products as well as for the technologies involved. The market for various emerging technologies in coatings as well as the new products produced using these technologies are discussed in the report.
The report also analyzes applications of coatings in detail and the markets for such applications, with a special emphasis on the new products being developed and their
markets. Continued research and development is taking coating technology to new heights along with the development of new products, and a close look into such
technologies is presented in the report. New applications from emerging technologies are also discussed. The increased demand for coatings is also driven by customers'
expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality and environmental properties. Special attention is needed from
manufacturers to meet these expectations in order to ensure that manufactured products meet expected standards and the market remains buoyant. This report pinpoints the need for the industry's commitment to continuous improvement in environmental performance and takes a look at a future in which the functionality of coatings will be enhanced and transformed from the conventional areas of protection and aesthetics to meet additional and more specific demands.
The report specifically deals only with the market for consumption of paints and coatings in different regions and not the production of these items in these regions. Thus, consumption may also include imports in some regions where production is not self-sufficient. However, this report does not include the market for equipment and
accessories for painting, powder coating and other coating processes.
REASONS FOR DOING THE STUDY
Product opportunities must be identified from the viewpoint of a company's strengths for any company to succeed in a competitive market. It is also necessary to understand
the size and growth rate of any opportunity and the competitive atmosphere in which the company exists. This report presents the ideal medium to understand the various
exciting and growing opportunities in the field of paints and various types of coatings and will help any prospective manufacturer, distributor or even a user to understand
and succeed in this growing field.
This report is intended to help:
- Marketing managers to identify new market opportunities and develop targeted promotion plans for paints and coatings.
- Research and development professionals to stay on top of competitor initiatives and explore demand for paints and coatings and to develop new products and for new
- Business development executives to understand the dynamics of the market and identify possible new markets.
- Advertising agencies working with clients in the paint and coatings industry to understand the products and to develop messages and images that will influence consumers to purchase these products.
SCOPE AND FORMAT
The report has been prepared in a simple format that can be easily understood with a number of tables and charts/figures. The scope of the report includes a detailed study
of global and regional markets for various types of coatings with the reasons given for variations in the growth of the industry in certain regions.
Primary information sources for this market research include manufacturers and suppliers of paints and coatings around the world, raw material suppliers for manufacture of these products, major users of these products, research organizations, governmental agencies, trade associations and various equipment suppliers. Additional secondary research sources include databases, trade literature, specialized journals and government statistics. These resources have been researched while compiling this report.
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