Paints & Coatings Market: Global and Regional Analysis with Forecast till 2028, Business Opportunities, Post COVID Scenario

According to the report, the global Paints & Coatings market is expected to grow from $Billion in 2020, which is expected to reach $213.2 Billion by 2028, growing at the CAGR of 5.12% from 2020 to 2028. This growth is attributed to the increasing demand from the automotive and construction industries. The automotive industry has intensified its focus on environmental issues and is strongly encouraging the adoption of cleaner technologies and cleaner engine technologies, to minimize the contribution towards air pollution. On the other hand, the construction sector has been registered steady growth in the global economy. The construction sector demands higher product volumes. As a result, the sector has been a strong driver for higher demand. The major factor restraining the growth in the Paints & Coatings Market is the slowdown in world economic growth and decline in construction and housing and construction activities, particularly in China and India.

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The recently published research report on Global Paints & Coatings Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Paints & Coatings market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal
As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Paints & Coatings market report also includes the following data points:
• COVID19 Impact on Paints & Coatings market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Paints & Coatings market

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Key Players
Some of the major Paints & Coatings players holding high market share include AkzoNobel N.V, PPG Industries, The Sherwin-Williams Company, Nippon Paint Holding Co. Ltd. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• AkzoNobel N.V
• PPG Industries
• The Sherwin-Williams Company
• Nippon Paint Holding Co. Ltd.
• Axalta Coatings System LLC
• Kansai Paint Co. Ltd.
• BASF Coatings
• RPM International Inc
• The Dow Chemical Company

Segmental Analysis
Market Segment By Technology with focus on market share, consumption trend, and growth rate of Paints & Coatings Market:
o Waterborne
o Solventborne
o Powder
o Others

Market Segment By End-User with focus on market share, consumption trend, and growth rate of Paints & Coatings Market:
o Architectural
o Industrial

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Global Paints & Coatings Geographic Coverage:
• North America
o US
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Rest of the World
o South America
o Middle East & Africa

The Asia Pacific holds the largest market share in Paints & Coatings because of the high demand for coatings in this area. This can be mainly because of the high growth of the construction sector in emerging countries. The market growth in these regions is also due to the huge number of construction projects that are under process in this region.

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