Opportunity Assessment of North America Paints And Coatings Market Reveals Profitable Avenues for Manufacturers

The North America Paints And Coatings Market to enthrone modernization at a CAGR of 5.0%, reaching in the next few years. With expansion of end-use verticals like automobiles, consumer goods, appliances that need plastics and chemicals, the chemical vertical looks for several ways for differentiating and excelling in a consolidated ambience. This would be the behaviour of chemical vertical in the forecast period.

Ever since paint was first used in the Stone Age, the paints and coatings market has come a long way. The paints and coatings market, to be successful and flourishing, relies heavily on innovation and never-ending technological advancement. The latest advancements in the paints and coating industry preparation and application are pushing the boundaries further- preparing to use paint in bigger and better ways. From focus on innovating paints to control temperature to using nanotechnology, over the years, the paints and coatings market has witnessed a surge of technological advancements and innovations. Raw material and paint and coatings manufacturers are continually working on developing 'intelligent paints'.

Color Trends in Fashion to Define Paints and Coating Pigments Innovation

One area, also the most important, where consumers are directly tied to the paints and coatings technology is- Color. According to industry experts, color trends, particularly in fashion, have a direct impact on the color popularity and influence the paints and coatings companies. Besides just affecting the styling efforts of that particular pigment as well as coating compositions, paints and coatings companies then aim to create the varied effects seen with new color trends in fashion and other more obviously consumer focused end-markets.

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Manufacturers aim towards 'Zero VOC'

With access to immense information, consumers are now interested in the potential environmental and health impacts of the chemicals used to make paints and coatings. This is driving manufacturers to innovate paints and coatings having less or zero chemicals and some of the recent innovations incorporate paint being made from organic or recycled materials. For instance, 50% of the top architectural paint companies in North America have [near] zero VOC emission.

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Brick-and-mortar businesses are now transforming into click-and-mortar; online customer behavior used for product personalization

Many company owned web-applications exist for smart phones which are continually being used as a strong platform to log a request for painting, registering complaints or even gathering insights about consumer behavior. The rise of E-markets is one of the major trends observed in the decorative paints market, which gives customers the ease to order product from their home. This trend has been captured by key players in the paints and coatings market-who are now leveraging advanced web analytics and personalization technology to understand the online behavior to present the right type of paints to the consumers- in line with their preferences.

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Paints and Coatings to get a facelift using time-tested Nanotechnology

Other than playing a significant role in developing zero or low VOC content formulations, nanotechnology has proved to be extremely beneficial for manufacturers in the paints and coatings market. The recent innovations in nanotechnology have enabled manufacturers to develop products that have UV protective, self-healing properties, and can even conduct electricity. Apart from these, using advanced nanotechnology innovations increase resistance to scratch, wear and tear, and corrosion.

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