The global paints and coatings market value is forecasted to reach US$204.83 billion in 2023, growing at a CAGR of 4.92%, for the period spanning from 2018 to 2023.
The factors such as escalating construction expenditure, growing automotive industry, increasing urban population, rising household consumption expenditure and improving economic conditions are expected to drive the market growth. However, the growth of the industry would be challenged by increasing raw material prices and stringent regulations.
A few notable trends include rising consolidation of market players, increasing preference for professional contractors, growing adoption of natural ingredients by chemical companies, high demand for personalized paints solutions in developing economies and technological advancement.
The paints and coatings industry consists of manufacturers of paints, varnishes, polishes, shellacs and stains. It comprises of three sectors: architectural, industrial and special purpose sector. The architectural coatings sector depends heavily on the construction and manufacturing sector, whereas industrial coatings are connected closely to the automotive, major appliances and industrial equipment sectors. The special-purpose includes a wide collection of divergent coatings.
The fastest-growing regional market is Asia-Pacific, owing to the rising launch of innovative & economical water-solvent paints, increasing the preference of personalized colours by urban population and increasing second-hand automobile repaint activities.
Scope of the report:
The report provides a comprehensive analysis of the global paints and coatings market, segmented on the basis of product types i.e. architectural, industrial and special purpose.
The major regional markets (Asia-Pacific, North America and Europe) have been analysed along with country coverage of India and US.
The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
The competitive landscape of the market, along with the company profiles of leading players i.e. The Sherwin-Williams Company, PPG Industries, Inc., Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., Axalta Coating Systems and BASF SE are also presented in detail.
Key Topics Covered:
1. Market Overview 1.1 Introduction 1.2 Types of Paints and Coatings 1.3 Paints and Coatings Applications 1.4 Paints and Coatings Manufacturing Process
2. Global Paints and Coatings Market Analysis 2.1 Global Paints and Coatings Market Value Forecast 2.2 Global Paints and Coatings Market Value by Segment 2.2.1 Global Architectural Paints and Coatings Market Value Forecast 2.2.2 Global Architectural Paints and Coatings Market Value by Segment 2.2.3 Global Architectural Paints and Coatings Market Value by Distribution Channel 2.2.4 Global Architectural Paints and Coatings Market Value by Region 2.2.5 Global Industrial Paints and Coatings Market Value Forecast 2.2.6 Global Industrial Paints and Coatings Market Value by End User 2.2.7 Global Industrial Paints and Coatings Market Value by Region 2.2.8 Global Special Purpose Paints and Coatings Market Value Forecast 2.2.9 Global Special Purpose Paints and Coatings Market Value by Segment 2.2.10 Global Special Purpose Paints and Coatings Market Value by Region 2.3 Global Paints and Coatings Market Value by Region
3. Regional Paints and Coatings Market Analysis 3.1 Asia-Pacific 3.2 North America 3.3 Europe
4. Market Dynamics 4.1 Growth Drivers 4.1.1 Escalating Construction Expenditure 4.1.2 Growing Automotive Industry 4.1.3 Increasing Urban Population 4.1.4 Rising Household Consumption Expenditure 4.1.5 Improving Economic Conditions 4.2 Key Trends and Developments 4.2.1 Rising Consolidation of Market Players 4.2.2 Increasing Preference for Professional Contractors 4.2.3 Growing Adoption of Natural Ingredients by Chemical Companies 4.2.4 High Demand for Personalized Paints Solutions in Developing Economies 4.2.5 Technological Advancement 4.3 Challenges 4.3.1 Increasing Raw Material Prices 4.3.2 Stringent Regulations
5. Competitive Landscape 5.1 Global Paints and Coatings Market 5.1.1 Key Players - Market Share Comparison 5.1.2 Key Players - Revenue Comparison 5.1.3 Key Players - Market Cap Comparison 5.1.4 Key Players - Research & Development Expenditure Comparison 5.1.5 Key Players - Architectural Paints and Coatings Market Share Comparison 5.1.6 Key Players - Industrial Paints and Coatings Market Share Comparison 5.2 Regional Paints and Coatings Market 5.2.1 Key Players - Regional Product Sales Comparison 5.2.2 Key Players - Regional Architectural Paints and Coatings Market Share Comparison