Paints and Coatings Market Size Share Outlook Analysis 2022-2029

The Paints and Coatings Market is expected to grow at a CAGR of 4% during the forecast period 2022-2029. North America region has the highest market share in the Paints and Coatings Market, and it is further continuing its dominance during the forecast period.

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Our research report gives wide perceptions of the latest trends and development prospects of the market analysis, detailed segmentation analysis, volume, size, share, growth drives, and opportunities in the market. In-depth regional and country-level illustration of the competitive landscape depends on several phases and status of clinical trials over the prominent economies of the globe, and also report contains a number of major companies profiled in the relevant market.

Market Drivers:

The market is driven by the rising interest for paints and coatings in embellishing, marine, auto, development, and modern applications to give better visual allure, and surface, increment time span of usability, and shield the item from outer harm. Innovative formulation technologies like Nano-coatings, coats with low VOC content, and anticorrosive protection dominate the market. Nano paints and coatings are being developed by a number of businesses. Products that can conduct electricity, protect against UV rays, or heal themselves have been developed as a result of the development of nanotechnology.

The introduction of novel coatings and paints is on the rise. For instance, in October 2019, AkzoNobel introduced Evolve, a trade-grade emulsion made from paint that would have been discarded, as a recycled paint. The brand Dulux Trade, which is a subsidiary of AkzoNobel, developed it. Evolve is made from 35% recycled paint that comes from homes all over the UK. The super chrome finish coating was introduced to the Indian market by Sirca Paints India in December 2019. One of the extremely high-quality products that can be applied to leather, metal, plastic, glass, and wood is the Super Chrome finish. It is the industry's brightest and most reflective chrome coating, offering an unparalleled chrome appearance and unparalleled reflective properties that are superior to those of any other coating on the market. It gives off a finish that looks like chrome and has 90% reflection. It gives chrome unique colours like rose gold, gold bronze, nickel, grey, copper brown, and so on.

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Market Segmentation:

By Product Type:
• Acrylic
• Alkyd
• Epoxy
• Polyurethane
• Polyesters

By Formulation:
• Water-Borne Coatings
• Solvent-Borne Coatings
• Powder Based Coatings
• UV-Curable Coatings

By Application:
• Architectural Application (Residential, Non-Residential, Infrastructure)
• OEM Coatings (General Industrial, Automotive OEM Coatings, Wood Coatings, Coil Coatings, Packaging)
• Special Purpose Coatings (Protective Coatings, Marine Coatings, Auto Refinish Coatings)

Geographical Classification:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

Major Companies Covered:

AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems LLC, Nippon Paint Holdings Co., Ltd, Asian Paints Limited, and RPM International Inc. are the leading market players with significant market shares.

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We monitor and analyse the market by dissecting various market influencers, competitive intensity, innovations, trends, and emerging products. This aids us in providing a detailed scenario of the present and future of the market.

This release was published on openPR.