Press release
Paints and Coatings Market 2021 Size and Share Overview – by Top Companies as Axalta, AkzoNobel, Jotun, RPM International Inc., Tikkurila Oyj, Dunn-Edwards Corporation, etc
Paints and Coatings Market
Paints and coatings are widely used across diverse industries. The product is used in interior as well as exterior parts of all infrastructures. The demand for these products has risen dramatically in recent years. Advances in paints and coating manufacturing methods have emerged in favor of market growth. The growing construction industry in several countries across the world will aid the growth of the market in the forthcoming years. Increasing use of the product in public infrastructure projects, coupled with the efforts put in by governments will contribute to the growth of the market.
Fortune Business Insights™ published a new research report, titled "Paints and Coatings Market Size, Share, trends, & Industry Overview, By Resin (Epoxy, Acrylic, Polyester, Alkyd, PU, and Others), By Technology (Waterborne, Solvent Borne, Powder Coating, and Others) By Application (Architectural, Automotive OEM, Marine, Coil, General Industries, Protective Coatings, Automotive Refinish, Industrial Wood, and Others), and Regional Forecast, 2019-2026,"
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The report encompasses several factors that have contributed to the growth of the global Paints and Coatings Market in recent years. It highlights major industry developments and gauges the impact of these developments on the market. It analyzes key aspects of the market, with a primary focus on leading products, major applications, and leading companies. The competitive landscape has been discussed in detail. Additionally, the report provides forecast values for the market for the period of 2019-2026. Factual figures are obtained through trusted sources. The data provided in this report is gathered through opinions and interviews of world leaders and experienced market research professionals.
Top Players Profiled in Paints and Coatings Industry are Mentioned Below:
• PPG Industries, Inc.
• Axalta Coating Systems
• Nippon and Kansai (Kansai Paint Co.,Ltd. )
• AkzoNobel
• Kwality Paints and coatings Pvt. Ltd. (KPCPL)
• Kansai Nerolac Paints Limited
• NIPSEA GROUP
• The Sherwin-Williams Company
• Jotun
• Nippon Paint Holdings Co., Ltd.
• RPM International Inc.
• TIKKURILA OYJ
• S K Kaken Co., Ltd
• Dunn-Edwards Corporation
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/paints-and-coatings-market-101947
Key Industry Developments:
Key Development:
April 2019: PPG announced the acquisition of Hemmelrath Lackfabrik GmbH, manufacturer of automotive coating. The new development will support PPG’s automotive coatings offering and manufacturing solutions.
October 2019: Berger paints announced that it has signed a deal with STP Ltd, a major manufacturer of construction materials.
Driving Factors:
Rising Construction Activities to Spur Sales Opportunities
The rising utilization of coating in the protection of buildings & infrastructures from corrosion will bolster the healthy growth of the market. The growing adoption of architectural coatings in interior and exterior house paints, sealers, primers, varnishes, and stains will enable speedy expansion of the market. The growing cognizance about the advantages of coatings such as less-VOC and odorless, high-scrub resistance, semi-gloss sheens will contribute positively to the growth of the market.
Furthermore, the rise in construction activities will uplift the market potential during the forecast period. The increasing government investments in infrastructure development will spur the demand of the market. The adoption of trailblazing technologies such as building information modeling (BIM) and cloud computing in the construction industry will consequently boost the market.
The enormous investment in residential and commercial building spaces will have a tremendous impact on the market. In addition, the increasing application of paints & coatings in automotive & transportation, wood, coils, and industrial metals support the growth of the market.
Regional Analysis:
Heavy Demand from Residential Sector to Augment Growth in Asia Pacific
The market in Asia Pacific is predicted to grow rapidly during the forecast period. The growth in the region is attributed to the booming construction and automotive industry in China, Japan, and India. The growing demand for paints & coatings in the residential and non-residential infrastructures will have a positive impact on the market. The increasing inclination towards walls, windows, and furniture will spur opportunities for the market during the forecast period. The booming automotive industry is likely to aid the expansion of the market in Asia Pacific.
Europe is predicted to rise exponentially in the forthcoming years owing to the increasing demand from the automotive industry. The well-established automotive industry will enable growth in the region. North America is predicted to rise tremendously during the forecast period owing to the remodeling and refurbishing of existing infrastructures in the region. The increasing technological advancement and growing disposable income are factors predicted to further boost the market in North America.
Increasing Number of Company Mergers to Aid Paints and Coatings Market Growth
Among all the factors that have contributed to the growth of the market, mergers and acquisitions have had the highest impact. The increasing number of company mergers and collaborations has, in turn, created several opportunities for the companies operating in the market. In October 2019, Berger Paints completed the acquisition of STP Ltd., a company engaged in the manufacturing of construction material. Through this acquisition, the company will enhance its business across several regions. The report highlights major company mergers of recent times and gauges their impact on the global market.
The Asia Pacific accounted for the Largest Market Share; Presence of Several Large Scale Companies to Aid Growth
The report analyzes the ongoing Paints and Coatings Market trends across major regions including North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. As of 2018, the market in Asia Pacific accounted for the highest market share and is projected to grow considerably in the coming years. The rapidly rising construction industries in developing as well as developed countries such as India, Japan, and China will aid the growth of the market in this region. Besides Asia Pacific, the Paints and Coatings Market in North America will exhibit considerable CAGR in the coming years, due to the increasing use of paints and coatings in improving old infrastructures. As of 2018, the market in North America was worth USD 23.8 billion.
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