Paints and Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
NEW YORK, April 24, 2019 /PRNewswire/ -- Paints & Coatings Market - Overview
Paints & coatings are substances that are applied on a substrate to decorate and protect the surface.Paints and coatings are widely employed for decorative purposes.
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When used for decorative purposes, they improve durability and esthetic appeal of the surface. They provide protection to the surface from factors such as environmental conditions, weathering, rust, and chemical resistance.
The paints & coatings market is driven by increasing demand for paints & coatings from several end-use industries such as automotive, construction, marine, aerospace, protective, transportation, wood coatings, and packaging. Expansion of the paints & coatings market can also be attributed to the increase in investments by key players to launch of efficient and cost-effective products, expansion, and merger & acquisition.
The paints & coatings market has been segmented based on resin type, technology, application, and region.In terms of resin type, the market has been segregated into acrylic, polyurethanes, polyesters, epoxy, alkyd, and other resins, which include silicone, polyvinyl acetate (PVA), and vinyl ester.
The acrylic resin segment dominated the paints & coatings market in 2017 due to the growing use of acrylic resins in many applications such as automotive, roof coating, wall coating, and construction.
Based on technology, the paints & coatings market has been classified into water-based, solvent-based, high solid, power, and others, which include UV-curing technology.The water-based segment dominated the global paints & coatings market, in terms of volume.
Water-based paints & coatings find application in, fly ash hoppers, plastic pellet hoppers, the automotive industry to coat coal cars interiors, and the architectural sector, as they offer advantages such as less flammability, low VOC emissions, and stable viscosity during printing. In addition to low toxicity, their high water content makes water-based coatings less flammable and hazardous to the environment.
In terms of application, the paints & coatings market has been divided into automotive & transportation, aerospace, building & construction, packaging, health care & medical devices, marine, electrical & electronics, and other such as wood working.The building & construction industry is projected to grow in the next few years due to the rise in urbanization and population globally.
Urbanization and changing lifestyles are expected to drive the global construction industry in the next few years. Growing population and improving economic conditions increase expenditure on housing and infrastructure developments across the globe.
Based on region, the global paints & coatings market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.Asia Pacific is a leading consumer of paints & coatings in the world.
The market in region is likely to expand at a rapid pace in the next few years.Rise in consumption of paints & coatings in Asia Pacific is attributed to the increase in the number of building & construction and improvements in the industrial infrastructure in the region.
Europe and North America account for large share of the global paints & coatings market. Expansion of the market in these regions is likely to slow down due to the sluggish expansion of the end-use industries.
The report analyzes and forecasts the paints & coatings market at global and regional levels.The market has been forecast in terms of volume (kilo tons) and revenue (US$ Mn) from 2018 to 2026.
The study includes drivers and restraints of the global paints & coatings market.It also covers the expected impact of these drivers and restraints on the demand for paints & coatings during the forecast period.
The report also highlights growth opportunities for the paints & coatings market at the global and regional levels.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global paints & coatings market.The Porter's Five Forces model for the paints & coatings market has also been included to help understand the competition landscape.
The study encompasses market attractiveness analysis, wherein segments have been benchmarked by resin, technology, and application based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global paints & coatings market by segmenting it in terms of base resin, technology, application, and region.These segments have been analyzed based on present and future trends.
Regional segmentation includes current and future demand for paints & coatings in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers segmentation based on individual by resin, technology, and application of the market in all regions.
The study includes profiles of major companies operating in the global paints & coatings market.The paints & coatings market is dominated by large players.
Key players operating in the market include The Sherwin-Williams Company, BASF SE, Axalta Coating Systems, PPG Industries, Valspar,, Akzo Nobel N.V, Nippon Paint Holdings, KCC Corporation, and Jotun A/S.
The report provides the estimated market size of the global paints & coatings market for 2017 and forecast for the next nine years.The size of the global paints & coatings market has been provided in terms of volume and revenue.
Market numbers have been estimated based on resin, technology, application, and region. The market size and forecast for each resin, technology, and application segment has been provided for the global and regional markets.
Global Paints & Coatings Market, by Resin
Acrylic
Polyurethanes
Polyesters
Epoxy
Alkyd
Others (including Silicone, Polyvinyl Acetate (PVA), Polyester, and Fluropolymer)
Global Paints & Coatings Market, by Technology
Water-based
Solvent-based
High Solid
Powder
Others (including UV-cure and moisture cure)
Global Paints & Coatings Market, by Application
Automotive & Transportation
Aerospace
Building & Construction
Packaging
Health Care & Medical Devices
Marine
Electrical & Electronics
Others (including Wood Working)
Global Paints & Coatings Market, by Region
North America
U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
U.K
France
Italy
Spain
Russia & CIS
Rest of Europe
Asia Pacific
China
India
Japan
ASEAN
Rest of Asia Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Key Takeaways
Extensive analysis of market trends from 2017 to 2026 to identify opportunities and market developments
Analysis of various resin, technology, and application where paints & coatings are used
Identifies key factors responsible for building a roadmap for upcoming opportunities for the paints & coatings market at the global, regional, and country levels
Comprehensive analysis with respect to investments and regulatory scenario that would subsequently impact the outlook and forecast for the global paints & coatings market between 2018 and 2026
Detailed competition landscape of key players operating in the market to understand competition level
Porters' Five Forces analysis has been provided to highlight the power of buyers and suppliers in the market
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