The global paints & coating market is likely to boost due to the rapid urbanization and industrialization in both developed and developing countries, the introduction of several innovative manufacturing processes and technologies and the growing demand fo

The paints & coating market size was valued at USD 150.7 Billion in 2020 and projected to reach USD 202.35 Billion by 2027, growing at a CAGR of 4.3% during the forecast period, 2020-2027.
The major attributes are the introduction of new technologies in the manufacturing of paints and coatings to enhance performance, and qualities are the primary factors driving the growth of the paints and coatings market across the globe. Factors such as modern advances in paint technology, improved economic conditions and increasing product consumption in automotive, construction and other general industries are anticipated to drive the global growth of the paints & coating market. Moreover, the growing concern towards environmental situations and increasing focus on the development of environment-friendly paints and coatings will provide lucrative opportunities in the growth of the paint and coatings market during the forecast period.

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Technology Overview in the Global Paints & Coating Market

The paints & coating market is segregated into waterborne, solvent-borne, powder, and other technologies based on the technology.
The waterborne segment is estimated to have the highest market share in the paints & coating market type segment. This is about the growing consumer demand for eco-friendly products increasing spending in the construction industry. Waterborne paints and coatings are broadly used in confined and poorly ventilated spaces and dry faster than solvent-borne.

Type Overview in the Global Paints & Coating Market

Based on the type, the paints & coating market is bifurcated into alkyd, acrylic, polyester, polyurethane, epoxy and other types.
The acrylic segment will dominate the paints & coating market by 2027 owing to the factors such as high performance, high-gloss colors, outstanding water resistance, excellent stabilization, ease to handle and moderately priced. Acrylics are available in many forms, such as enamels, latex, powders, and other such forms.

End-Use Industry Overview in the Global Paints & Coating Market

Based on the end-use industry, the paints & coating market is classified into architectural and industrial.
The architectural segment is estimated to have the highest market share in the end-use segment for the paints & coating market. This is due to its application in wood flooring, furniture, wall paintings and sculptures. Increasing safety standards across the globe will surge the demand for waterproof and fireproof coatings, thereby shifting the focus towards architectural coatings. The architectural segment is further segmented into residential and non-residential.

Regional Overview in the Global Paints & Coating Market

The paints & coating market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The Asia Pacific is estimated to project considerable growth over 2020-2026. It is due to the rapid urbanization, growing construction activities, increasing disposable income of consumers and increasing demand from the automotive sector in the region.
However, Europe will have a prominent share in the paints & coating market by 2027, owing to the region's rapidly increasing population and government initiatives and safety regulations.

Global Paints & Coating Market: Competitive Landscape

Companies include Jotun Group, Nippon Paint Holding Co. Ltd, PPG Industries, BASF SE, RPM International, Henkel AG & Co., KGaA, Kansai Paint Co., Ltd., Tikkurila OyjHempel A/S, Asian Paints Ltd, Berger Paints Ltd., The Sherwin-Williams Company, Axalta Coating Systems, Ltd are the key players in the global paints & coating market.

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