Primer Market 2019 Top Players: BASF SE, AkzoNobel N.V., The Sherwin-Williams Co., PPG Industries Inc., Nippon Paint Company

The primer market is estimated to witness high growth during the forecast period, 2018-2023. Asia-Pacific is expected to witness highest growth in the demand for primers during the forecast period, owing to the booming construction sector, and increasing automotive & furniture production in the region.

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Increasing Construction Activities in the Asia-Pacific Region
Primer is extensively used in the building & construction sector. It is used as a preparatory coat on the walls and other substrates, before applying the paint. Asia-Pacific region has become an attractive market for the investors, owing to the presence of number of emerging economies, such as India, China, Indonesia, Vietnam, and others in the region. Owing to the strong economic growth, domestic companies have been expanding their business. Along with this, foreign companies have been entering these markets to take advantage of the prevailing opportunities. This has created demand for the commercial infrastructure, such as offices, production houses, buildings, warehouses, etc., leading to increase in the construction activities in these countries. Besides this, the wave of digitization has boosted the growth of the service sector, which is further adding to the demand for offices and residential houses for the employees. Hence, all such factors have been driving the demand for primer paints in the region.

Key Developments in the Primer Market
December 2017: BASF’s Coatings division inaugurated a new, world-scale automotive coatings plant to produce thinners, primers, clearcoats, and waterborne basecoats, at the Shanghai Chemical Industry Park (SCIP) in Caojing, Shanghai, China

Major Players in Primer Market
• BASF SE
• AkzoNobel N.V.
• The Sherwin-Williams Co.
• PPG Industries Inc.
• Nippon Paint Company Ltd.

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Building & Construction Industry Serves as the Major End-user
Building & Construction Industry will dominate the primer market during the forecast period, among end-user industries. Primer is extensively used in the construction industry. Before painting the walls, primer is widely used as an undercoat, in order to make the walls smooth by filling the gaps, and to improve the adhesion and durability of paint. Besides this, primer also finds application on wooden interiors and furniture. In construction of residential buildings & houses, wooden interiors in the form of doors, cupboards, window frames, etc. is common, which further adds to the application of primer during construction.

Asia-Pacific to Lead the Primer Market
Asia-Pacific is projected to witness highest growth during the forecast period, owing to the booming construction sector, and increasing automotive & furniture production in the region. In Asia-Pacific, China and India is expected to witness strong growth in demand for primer. China is expected to witness strong growth in the demand for primer, owing to the increasing public spending in transportation infrastructure, increasing automotive production, increasing furniture production & exports and growth in other industries. China is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025. Besides this, in India residential & commercial construction has been increasing owing to the developing service sector in the country. Hence, such increasing construction activities and government efforts to build infrastructure & increase electric vehicles production and sale, the demand for primer is projected to increase in the coming years.

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This release was published on openPR.