Press release
BASF, RPM International Inc., Jotun, Axalta & Masco Corporation, AkzoNobel, PPG Industries, Sherwin-Williams, Berger Paints India, Shalimar Paints & Kansai Paint Co.,Ltd are the Key Players in Paints and Coatings Market by 2023
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Based on resin type, the paints and coatings market is categorized into acrylic, polyester, polyurethane, epoxy, and others (nylon, nitrocellulose lacquer, and polycarbonates). Among these, the volume sales of polyurethane are expected to exhibit the fastest growth in the market, witnessing a CAGR of 5.9% during the forecast period.
In terms of application, the paints and coatings market is segmented into architectural and decorative, industrial, and marine. During the forecast period, the volume sales of painting and coating are expected to witness the highest growth for industrial application, with a CAGR of 5.5%.
On the basis of formulation, the paints and coatings market is categorized into water-based, solvent-based, powder coatings, and UV coatings. During the forecast period, the volume sales of UV coatings is expected to witness the highest growth in the market, with 7.3% CAGR.
Increasing demand for painting and coating solutions from industries such as consumer goods, automotive, and machine manufacturing is driving the market growth. These coatings have certain advantages over other types, such as reduced environmental impact, zero pot life issues, rapid cure speed, and low energy costs.
APAC is expected to be the fastest growing paints and coatings market during the forecast period, with respective volume and value CAGRs of 7.2% and 8.3%. The growth of the market in the region is driven by air pollution regulations, which is expected to be a driving force behind the adoption of new coating resins and formulations.
Read summary of report here : https://www.psmarketresearch.com/market-analysis/paints-and-coatings-market
Some of the major players operating in the global paints and coatings market are Akzo Nobel N. V., PPG Industries Inc., The Sherwin-Williams Company, Berger Paints India Limited, Shalimar Paints Limited, Kansai Paint Co. Ltd., BASFR SE, RPM International Inc., Jotun A/S, Axalta Coating Systems Ltd., and Masco Corporation.
PAINTS AND COATINGS MARKET SEGMENTATION
By Resin Type
Acrylic
Polyester
Polyurethane
Epoxy
Others
By Formulation
Water-Based
Solvent-Based
Powder Coatings
UV Coatings
By Application
Architectural and Decorative
Residential
Non-Residential
Industrial
Automotive OEM
Automotive Refinish
Wood
Coil
Can
Manufacturing
Others
Marine
By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
U.K.
Spain
Rest of Europe
APAC
China
Japan
India
Rest of APAC
Rest of the World (RoW)
Brazil
Saudi Arabia
South Africa
Rest of RoW
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