Press release
Paints Market for Non-Plastic Application to Exceed US$ 60 Bn By 2031
๐๐๐ญ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84784&utm_source=OPENPR%2FjayashriB&utm_campaign=OPENPR
The paints market for non-plastic applications encompasses a wide array of products designed for surfaces other than plastics. These include paints for metals, wood, concrete, and other substrates. With growing concerns regarding the environmental impact of plastic-based coatings, the demand for sustainable alternatives has surged, propelling the expansion of this market.
Market Size and Growth:
The market for non-plastic paints is expected to witness robust growth from 2022 to 2031, fueled by increasing awareness about eco-friendly coatings and the growing emphasis on sustainable practices across various industries. According to recent studies, the market is projected to register a CAGR of 5.2% during the forecast period, reaching a valuation of US$ 60 Bn by 2031.
Market Segmentation:
By Service Type: The market can be segmented into paint manufacturing, distribution, and application services.
By Sourcing Type: Segmentation based on sourcing types includes raw material procurement, outsourcing, and in-house production.
By Application: Applications span across residential, commercial, industrial, and automotive sectors.
By Industry Vertical: Segments include construction, manufacturing, automotive, aerospace, and others.
By Region: Geographical segmentation covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Analysis:
North America and Europe are anticipated to lead the market owing to stringent environmental regulations and a high level of awareness regarding sustainable coatings.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐ฆ๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐๐๐จ๐ซ๐ ๐ฉ๐ฎ๐ซ๐๐ก๐๐ฌ๐ - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=84784&utm_source=OPENPR%2FjayashriB&utm_campaign=OPENPR
Asia Pacific is expected to emerge as a significant market, driven by rapid industrialization, urbanization, and infrastructure development initiatives in countries like China and India.
Market Drivers and Challenges:
Drivers: Increasing environmental consciousness, stringent regulations promoting eco-friendly coatings, advancements in paint technology, and rising demand from end-use industries.
Challenges: Fluctuating raw material prices, high initial investment costs for eco-friendly formulations, and competition from plastic-based alternatives.
Market Trends:
Shift towards water-based and bio-based paints to reduce environmental impact.
Adoption of advanced coating technologies such as nanotechnology for enhanced performance and durability.
Growing demand for specialty coatings catering to specific applications and industries.
Future Outlook:
The paints market for non-plastic applications is poised for significant expansion in the coming years, driven by ongoing efforts to reduce carbon footprint and promote sustainability. Technological innovations, coupled with favorable regulatory frameworks, will continue to shape the market landscape, offering lucrative opportunities for industry players.
Key Market Study Points:
Understanding consumer preferences and behavior towards eco-friendly coatings.
Assessing regulatory compliance and market entry barriers across different regions.
Analyzing competitive pricing strategies and supply chain dynamics.
Evaluating the impact of emerging trends such as digitalization and smart coatings on market growth.
๐๐๐ฏ๐ ๐๐ง๐ฒ ๐๐ฎ๐๐ซ๐ฒ? ๐๐ฌ๐ค ๐๐จ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=84784&utm_source=OPENPR%2FjayashriB&utm_campaign=OPENPR
Competitive Landscape:
The market is characterized by intense competition, with key players focusing on product innovation, strategic collaborations, and mergers & acquisitions to gain a competitive edge. Major companies operating in the market include Sherwin Williams, PPG Industries, Inc, Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd, RPM International Inc, Axalta Coating Systems, BASF SE, Kansai Paint Co., Ltd, Asian Paints Ltd, and Jotun.
Recent Developments:
Launch of bio-based and low-VOC paints by leading manufacturers.
Strategic partnerships for the development of sustainable coating solutions.
Expansion of production facilities to meet growing demand in key regions.
๐๐ซ๐จ๐ฐ๐ฌ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก -
Calcium Hydride Market - https://www.globenewswire.com/news-release/2023/09/14/2743257/32656/en/Calcium-Hydride-Market-Anticipated-to-Reach-USD-1-billion-by-2030-Expanding-at-a-4-5-CAGR-Exclusive-Report-by-Transparency-Market-Research.html
Thermophotovoltaics Market: https://www.prnewswire.com/news-releases/thermophotovoltaics-market-size--share-to-hit-us-17-4-million-by-2031--garnering-6-7-cagr-tmr-report-301969225.html
๐๐๐จ๐ฎ๐ญ ๐๐ฌ
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
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