Paints and Coatings Market (By Application: Architectural and Decorative, Industrial, and Marine; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 - 2024
Global Paints and Coatings Market is estimated to reach $248.5 billion by 2024; growing at a CAGR of 6.2% from 2016 to 2024. Paints and coatings are used in various applications such as architectural and decorative, industrial, and marine. The market is mostly driven by growing demand for paints & coatings from several end-use industries, such as aerospace, construction, automotive, transportation, marine, protective, packaging, and wood coatings, among others. Various factors such as launch of efficient and cost-effective products by key players of the market, growing population and increasing construction expenditure in emerging economies are driving the growth of paints and coatings market over the forecasted period.
Major factors driving the global paints and coatings market are growing demand from end-use industries, increasing adoption of elastomeric coating in the tilt-up concrete in building and construction, green environmental rules & regulations, capability of tough coatings with improved performance. However, additional drying time required for water-based coatings may hamper the market growth. Furthermore, rising applications of fluoropolymer in the building and construction industry would unfold with numerous growth opportunities in the forecasted years.
Major segments in the global paints and coatings market are application, and geography. By, application, the market is categorized into architectural and decorative, industrial, and marine. Further, water-based, and solvent-based are sub segments of architectural and decorative. The market is sub segmented by industrial into water-based, solvent-based, powder, and UV based.
Geographically, global paints and coatings market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of France, Germany, Italy, UK, Spain, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players competing in the market are Axalta Coating Systems, Sherwin-Williams Company, PPG Industries, Inc., Asian Paints Limited, The Jotun Group, Nippon Paint Holdings Co., Ltd., RPM International Inc., Valspar Corporation, Kansai Paints Co., Ltd., and Hempel Holding A/S, among others.
The key takeaways from the report:
- The report will provide detailed analysis of Paints and Coatings Market with respect to major segments such as application
- The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Paints and Coatings Market has been included in the report
- Profile of the key players in the Paints and Coatings Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Paints and Coatings Market:
- Architectural and Decorative
- UV Based
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Middle East