A detailed report on Global Paints & Coatings Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027. The research study offers complete analysis of critical aspects of the global Paints & Coatings , including competition, segmentation, geographical progress, manufacturing cost analysis, and price structure. We have provided CAGR, value, volume, sales, production, revenue, and other estimations for the global as well as regional markets.
Market Dynamics:
A new and emerging field of industrial painting and coatings is Paints and Coatings. This is a combination of art and science that creates products that are more durable, less toxic, and above all more long-lasting than the paints that came before. Paints and coatings were developed to be used in industrial applications such as for concrete, asphalt, and the like. The most commonly used Paints and Coatings are VCT, polyurethane, urethane, MDF, and Acrylic.
Growing demand from the construction and automotive industries is expected to drive growth of the global paints and coatings market. Paints and coatings are widely used in both construction and automotive sectors. The construction sector in both developed and emerging economies have witnessed massive growth over the years. According to the India Brand Equity Foundation (IBEF), India is expected to become the world’s third-largest construction market by 2022. According to the same source, India plans to spend around US$ 1.4 trillion on infrastructure projects through the National Infrastructure Pipeline (NIP) from 2019 to 2023. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), total car sales reached 96 million units in 2017, increasing from 75 million units in 2010. Both paints and coatings are used for the protection of the car surface and decoration. Thus, these factors are expected to drive growth of the global paints and coatings market in the near future. Furthermore, technological advancements in powder coating technology are expected to propel the global paints and coatings market.
Competitive Landscape:
Key companies operating in the global paints and coatings market are Akzo Nobel NV, The Sherwin-Williams Company, Asian Paints, Berger Paints India Limited, Nippon Paint Holdings Co., Ltd., Cromology, DAW SE, Kansai Paint Co. Ltd, Brillux GmbH & Co. KG, Axalta Coating Systems, and BASF SE.
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However, the requirement of significant drying time for waterborne coatings and stringent regulatory policies are expected to restrain growth of the global paints and coatings market in the near future. Besides, emerging demand from shipbuilding and pipeline industries can present lucrative growth opportunities in the global paints and coatings market.
Among regions, Asia Pacific is expected to witness significant growth in the global paints and coatings market. This is owing to increasing construction activities and growing demand from the automotive sector across the region. Furthermore, Europe is expected to register a robust growth rate in the near future, owing to a rapid expansion of the construction sector in various countries.
Detailed Segmentation:
Global Paints and coatings Market, By Product Type:
High solids/radiation cure
Powder coating
Waterborne coatings
Solvent-borne coatings
Others
Global Paints and coatings Market, By Application:
Automotive & Aviation
Medical & healthcare
Residential
Commercial
Others
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Important Features that are under Offering and Key Highlights of the Reports:
– Potential and niche segments/regions exhibiting promising growth.
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
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✤ SWOT Analysis is used to define, assess, and analyse market competition by focusing on the world's major manufacturers. The market is defined, described, and forecasted by type, application, and region.
✤ Examine the potential and advantages of the global and major regional markets, as well as the opportunities and challenges, as well as the constraints and risks.
✤ Determine whether market growth is being driven or hampered by trends and factors.
✤ Stakeholders will be able to assess market potential by identifying high-growth categories.
✤ Conduct a strategic analysis of each submarket's growth trends and contribution to the market.
✤ Competitive developments in the market include expansions, agreements, new product launches, and acquisitions.
✤ To develop a strategic profile of the major players and conduct a thorough analysis of their growth strategies.
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✔ In the next seven years, what innovative technology trends should we expect?
✔ Which sub-segment do you believe will grow the fastest over the next few years?
✔ By 2028, which region is predicted to have the largest market share?
✔ What organic and inorganic strategies are businesses employing to gain market share?
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