Paints Coatings Market worth US$22 2.9 with 4.30% of CAGR
The report "Global Paints Coatings Market, By Resin (Architectural Coating Resin and Others), By End-User Industry (Architectural, Automotive, Wood, Protective Coating, General Industrial, Transportation, and Packaging), By Technology (Water-borne, Solvent-borne, Powder Coating, and UV-cured Coating), and Region - Global Forecast to 2030". The rise in construction activity for the housing purpose in emerging economies in the Asia-Pacific region is the major propelling factor for the growth of the global market. Additionally, the rise in production of the automotive production in the Europe and Asia Pacific region is another driving factor for the growth of the target market. Moreover, the increasing population income level across the world, increase in the construction that increase the demand for the production of furniture which is the boosting factor for the growth of the global market.
Key Highlights:
- In 2017, Akzo Nobel acquired the BASF’s Industrial Coatings business which includes two manufacturing technologies, plants, patents and trademarks, and secure supply to the customer’s worldwide.
Key Market Insights from the report:
The global paints coatings market is projected to register a moderate CAGR of 4.50% over the forecast period. The market report has been segmented on the basis of resin, end-user industry, technology, and region.
- By resin, the global paints coatings market is segmented into architectural coating resin and others
- By end-user industry, the target market is sub segmented into architectural, automotive, wood, protective coating, general industrial, transportation, and packaging
- By technology, the global market is bifurcated into water-borne, solvent-borne, powder coating, and UV-cured coating
- By region,the Asia Pacific region is expected to show significant growth of the target market over the forecast period due to consumption and production of coating in Asia pacific region is growing rapidly for the affordable construction of the houses to build community which is the good indicates of the increasing demand for the coating and painting. North America region is also anticipated to show growth in the paints and coating market due to rise in automotive industries and construction.
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The prominent player operating in the global paints coatings market includes Akzo Nobel NV, Asian Paints, Axalta Coating Systems Ltd LLC, BASF SE, Beckers Group, Berger Paints India Ltd., Brillux GmbH & Co. KG, Caparol, Cromology, and DAW SE.
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