Paints and Coatings Market | Key PLayers are PPG, The Sherwin-Williams Co., RPM International Inc., The Valspar Corp., Axalta Coating Systems

Paints and coatings are liquid or semisolids materials that are applied or sprayed to a substrate in the form of a thin layer, which forms a solid film over time. It is used to enhance aesthetic appeal, protect and color buildings, walls, objects, equipment, among others. It is a mixture of polymer particles called binders, various surfactants, pigments, solvents, and processing aids. Asia Pacific and Middle East are expected to be the fastest growing markets during the forecast period. The solvent-based paints such as those used for waterproofing and flame proofing are gaining traction.

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Stringent government regulations to reduce VOC content in paints and coatings such as on April 21, 2005, United States Environmental Protection Agency amended Residential Lead-Based Paints Hazard Reduction Act of 1992. The waterborne paints segment is expected to expand at a CAGR of over 4.6% in terms of volume and 5.4% in terms of value, according to a study conducted by Coherent Market Insights.

Asia Pacific, followed by North America and Europe, respectively accounted for major share in the global paints and coatings market both in terms of value and volume in 2016 and the trend is expected to remain the same over the forecast period. In 2016, Asia Pacific held a share of 43.45% in terms of volume, followed by Europe (20.23%). The growing demand for supportive infrastructure in Asia Pacific due to growing population, increased urbanization and growing retail and hospitality sectors is expected to drive growth of the global paints and coatings market over the forecast period.

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Major players in the global paints and coatings market include PPG, The Sherwin-Williams Co., RPM International Inc., The Valspar Corp., Axalta Coating Systems, BEHR, Benjamin Moore & Co., Dunn-Edwards Corporation, Ennis-Flint, Shawcor Ltd., Nippon Paints, Kelly-Moore Paints Co. Inc, Cloverdale Paints Inc., Innovative Chemical Products Group, Vogel Paints Inc., Yenkin Majestic Paints Corp., Tnemec Company Inc, Elantas Pdg Inc, True Value Company, Vista Paints.

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This release was published on openPR.