NEW YORK, Oct. 13, 2016 /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 a market overview, analyzing major market trends both in terms of region and application segment. Forecast provided through 2021.
Use this report to:
- Analyze the market for various coating products as well as the technologies involved.
- Learn about the role of paints and coatings in providing color and protection.
- Receive information about the innovation behind coatings development and production.
- Gain insight into new developments taking place in the paints and coatings industry with respect to continuous improvements in environmental performance.
- The global market for paints and coatings reached $129 billion in 2015. This market is expected to grow from nearly $132.2 billion in 2016 to $164.1 billion in 2021 at a compound annual growth rate of 4.4% from 2016-2021.
- The waterborne technology segment is expected to grow from $37.2 billion in 2016 to nearly $48.7 billion in 2021 at a CAGR of 5.5% for the period 2016-2021.
- Powder/emerging coating technologies over the next five years will grow from nearly $32.7 billion in 2016 to $46.8 billion in 2021 at a CAGR of 7.5% for the period 2016-2021.
Paint is any liquid, liquefiable, or mastic composition that, after application to a substrate in a thin layer, converts to a solid film. It is most commonly used to protect, color, or provide texture to objects. Paint can be made or purchased in many colors and in many different types, such as watercolor, synthetic, and so forth. Paint is typically stored, sold, and applied as a liquid, but most types dry into a solid. Normally the major constituents of paints are solvents. A coating is a covering that is applied to the surface of an object, usually referred to as the substrate. The purpose of applying the coating may be decorative, functional, or both. The coating itself may be an all-over coating, completely covering the substrate, or it may cover only parts of the substrate.
Functionally, paints and coatings provide an aesthetically pleasing colored and/or glossy surface; they also help metal and other substrates withstand exposure both to their environment and to everyday wear and tear. The term "coating" in this report excludes inks, thinners, and raw materials such as pigments and solvents. Paints are a type of coating; as such, this BCC Research report's title emphasizes the inclusion of paints in the report.
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 paints and coatings industry with respect to continuous improvements in environmental performance.
The report analyzes the market for various coating products as well as the market 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 that 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 in order 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 to develop targeted promotion plans for paints and coatings.
- Research and development professionals, to stay on top of competitor initiatives, to explore demand for paints and coatings, and to develop new products and new applications.
- Business development executives, to understand the dynamics of the market and to identify possible new markets.
- Advertising agencies working with clients in the paints 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.
Srinivasa Rajaram is a mechanical engineer with more than 40 years of experience in designing factory layouts and setting up factories. He has set up factories for the production of weighing and dynamic balancing machines in India and has experience in designing, producing, and servicing that equipment. He was senior vice president at M/S Schenck Avery Ltd., an Indo-German joint venture, and has set up an automatic paint shop for painting various components of weighing and dynamic balancing equipment.
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