Specialty Coatings Market Size, Status, Analysis and Future Scope 2020-2023 | PPG Industries, Akzo Nobel NV, The Sherwin-Williams Company, RPM International, Nippon Paints

The global specialty coatings market is estimated to witness a CAGR of 5.5% during the forecast period. Asia-Pacific is expected to hold the largest share of the market owing to the growing construction industry in the region. Water-borne technology is the fastest growing technology.

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Market By Top Companies:

PPG Industries, Akzo Nobel NV, The Sherwin-Williams Company, RPM International, Nippon Paints, Axalta Coating Systems Ltd, LLC, National Paints Factories Co. Ltd., Kansai Paints Co. Ltd, Jotun A/S, Tikkurila Oyj, Materis Paints (Cromology), DAW SE, Hempel, Brillux GmbH & Co. KG, Fujikura Kasai

Industry Research Coverage

Automotive Production Rise in Asia-Pacific and Europe

According to ACEA (European Automobile Manufacturers Association), the global production of motor vehicles was around 96 million units in 2016. Asia-Pacific and Europe have been the prime regions supporting the growth of automotive production, with year-on-year growth rates of 7.6% and 2.5% respectively for 2015-2016.

China, India, Philippines, and Vietnam are turning out to be potential markets for demand and supply of automobiles with many automotive manufacturers placing their manufacturing and assembly plants in these countries. This can be attributed to the availability of labor at low cost, raw material prices, and rising urban population in the region. Major car manufacturers such as Chevrolet, Daimler, Jeep, Audi, Volvo, Kia, etc., have either set up their automotive manufacturing facilities or are planning to start new facilities in the Asia-Pacific region shortly. This supports the use of coatings for the automotive industry to a major extent, in turn, helping the overall growth of the paints and coatings market.

Water-borne Technology Holds the Largest Share

Water-borne coatings hold the major share in the overall specialty coatings market. The major reason for its gain over solvent-borne is because of its environment-friendly nature as it is lower in volatile organic compounds, which degrade the environment. Also, other properties like low odor, more durability, and more block resistance make water-borne paints more preferable.

The water-borne specialty coatings market is driven by factors, such as increasing consumer awareness about VOC emissions and growing environment regulations. REACH, a government initiative in Europe was adopted to improve human health and the environment from the risks that can be constituted by chemicals, while enhancing the competition in European chemicals industry. Also, promoting alternative methods for hazard assessment of substances to reduce tests on animals is increasing the demand for coatings with low VOC content, such as water-borne coatings.

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Notable Developments in the Market

November 2017: AkzoNobel announced plans to separate its specialty chemicals business from paints and coatings and sell it to an affiliate of the AkzoNobel Group for INR 320 crore.

June 2017: Sherwin-Williams completed the acquisition of Valspar to become the global leader in paint and coatings.

Major players include PPG Industries, Akzo Nobel N.V., The Sherwin Williams, and RPM International, amongst others.

Major points covered in this research are:-

─Specialty Coatings Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2023), Competition by Manufacturers

─Global Market Size (Value) of Specialty Coatings (2020-2023)

─Global Specialty Coatings Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2023)

─Global Specialty Coatings Production, Revenue (Value), Price Trend by Type

─Global Specialty Coatings Market Analysis by Application

─Global Specialty Coatings Manufacturers Profiles/Analysis

─Specialty Coatings Manufacturing Cost Analysis

─Industrial Chain, Sourcing Strategy and Downstream Buyers

─Marketing Strategy Analysis, Distributors/Traders

─Market Effect Factors Analysis

─Global Specialty Coatings Market Forecast (2020-2023)

─Competitive Landscape

─Research Findings and Conclusion

Finally, this Specialty Coatings report covers the market scenario and its development prospects over the coming years. The report likewise manages the type analysis, contrasting it with the significant application, recent Specialty Coatings product development, and gives an outline of the potential global market.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Europe and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.