Paints & Coatings Market Size to Reach USD 227 billion, Trends, Competitive Landscape, Growth Strategies, Opportunity, Industry Scope and Forecast to 2028

Paints & Coatings Market Overview:

Paints and coatings are substances that are applied to a surface to decorate and protect it. When used for decorative purposes, paints and coatings improve the durability and aesthetics of the surface. They also protect the surface from adverse environmental conditions, weathering, rust, and exposure to chemicals. In certain applications, paints and coatings also provide specific properties such as anti-fouling, flame retardancy, and anti-microbial properties. The building and construction industry in Asia Pacific has grown significantly as a result of economic growth and the resulting improvement in the living standards of the region's developing countries. This is increasing demand for paints and coatings in Asia Pacific. The extensive use of paints and coatings in construction, automotive, and transportation drives the global paints and coatings market.

The global Paints & Coatings market size is projected to grow from USD 180 billion in 2019 to USD 227 billion by 2028, at a CAGR 3.4% during the forecast period 2022-2028.

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Paints & Coatings Market Key Players

The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are AkzoNobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams (US), RPM International (US), and Nippon Paint (Japan) and Others

Recent Development

In February 2022, The Sherwin-Williams Company signed an agreement with the state of North Carolina, Iredell County, and the city of Statesville to significantly expand its architectural paint and coatings manufacturing capacity and establish a larger distribution facility in Statesville, North Carolina. Sherwin-Williams plans to invest a minimum of USD 300 million in the project.
In February 2022, PPG announced to acquire Powder Coating Manufacturing Business in Arsonsisi, an industrial coating company based in Milan, Italy.
In July 2021, AkzoNobel N.V. and Mercedes-Benz extended their partnership agreement for another four years. This means the company will continue to provide vehicle refinish products including the automotive and specialty coatings, and services in China and a preferred partner in Indonesia.
In March 2021, Qlayers coating technology offers a fully automated solution to safer, more consistent, and faster than manual the manual coating processes used now in the industry. By eliminating overspray, it's sustainable solution that saves cost. This technology is helping the customers in applying the anti-corrosive coating systems and others.

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Paints & Coatings Market Segmentation:

Paints & Coatings Market by Technology, 2019-2028, (IN USD Million)

Waterborne
Solvent borne
Powder Coatings
Others

Paints & Coatings Market by Resin, 2019-2028, (IN USD Million)

Acrylic
Alkyd
Epoxy
Polyester
Polyurethane
Vinyl
Fluoropolymer
Others

Paints & Coatings Market by Application, 2019-2028, (IN USD Million)

Architectural
Industrial
Others

Growth Factors:

Increasing demand from the Paints & Coatings industries
The growing use of Paints & Coatings in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Paints & Coatings Market

Paints & Coatings Market Regional Analysis

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2028, covering

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Paints & Coatings Market Trends

- The report identifies, determines, and forecasts the Global Paints & Coatings Market segments based on their type, sub-type, technology used, applications, end-users, and regions.

- Industry to Industry Holds Largest Share in the Paints & Coatings Market

- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.

- Demand from Regional / geographical is expected to drive the Growth

- Rising Adoption of Market Segments in the Paints & Coatings Growth

- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Paints & Coatings Market.

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