Paints and Coatings Market Trends Analysis & Growth Factor is Expected to Reach USD 259.00 Billion By 2032

The global paints and coatings market was valued at USD 169.29 billion in 2023 to USD 259.00 billion by 2032, revealing a CAGR of 4.90% during the forecast period 2024-2032.

The rise in population and speedy urbanization have increased the growth of the construction and architecture sectors, thus pushing the market towards expansion.

𝐆𝐞𝐭 𝐚𝐧 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/global-paints-and-coatings-market/request-for-sample

Paint is any liquid solution that transforms into solid film subsequent to application to a finish in a thin layer. A coating is a wrapping that is administered to a surface for the cause of ornamental and safeguarding. Enamels, varnishes, bituminous, and emulsions are contemplated under organic and inorganic coatings. The word coating might be utilized in general to indicate any colored or clear commodity. The word paint is utilized to relate to a pigmented product with an organic and inorganic binder.

The market is observing sizeable growth due to the development of the construction industry and the magnification of modern coatings. Besides, the escalation of anti-corrosion smart coatings is playing a crucial part in protecting metal surfaces by hampering the interchange with caustic chemicals.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

• AkzoNobel N.V.
• Asian Paints Limited
• Axalta Coating System LLC
• BASF Coatings GmbH
• Beckers Group
• Berger Paints India Limited
• Diamond Vogel Paints
• Dunn-Edwards Corporation
• Hempel A/S
• Indigo Paints Pvt Ltd
• Jotun A/S
• Kansai Paints Co., Ltd.
• Kelly-Moore Paints
• Masco Corporation
• Nippon Paint Holdings Co., Ltd.
• PPG Industries
• RPM International Inc
• Sacal International Group Ltd.
• S K Kaken Co., Ltd
• Shalimar Paints
• Sherwin-Williams Company
• Tiger Coatings GmbH & Co. Kg
• Tikkurila OYJ
• Valspar Corporation
• Vista Paints Corporation

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/137/2

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

Construction and Infrastructure Development: The growth of the paints and coatings market is closely tied to construction activity and infrastructure development, including residential, commercial, and industrial construction projects, as well as infrastructure upgrades and renovations.

Automotive Industry Demand: The automotive sector is a significant consumer of paints and coatings for vehicle manufacturing, repair, and refinishing applications. The demand for automotive coatings is driven by factors such as vehicle production volumes, consumer preferences, and regulatory requirements.

Industrial Manufacturing: Industrial coatings are used to protect surfaces from corrosion, abrasion, chemicals, and harsh environments in various industries such as manufacturing, aerospace, electronics, energy, and machinery. The demand for industrial coatings is driven by maintenance, repair, and operational needs.

𝐏𝐚𝐢𝐧𝐭𝐬 𝐚𝐧𝐝 𝐂𝐨𝐚𝐭𝐢𝐧𝐠𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• The acrylic segment accounted for the largest revenue share in the paints and coatings market. Due to their outstanding performance properties, such as excellent adhesion, durability, resistance, and flexibility to UV radiation and chemicals, they are ideal for an expansive range of applications in automotive, architectural, and industrial coatings.

• The powder coatings segment accounted for the highest market share during the forecast period. These coatings are administered as a dry powder finish using an electrostatic spray gun, followed by curing in an oven to produce a durable and resilient coating. Their eco-friendly characteristics result from their solvent-free composition, minimizing the release of volatile organic compounds (VOCs), thereby promoting both human health and environmental welfare.

• Asia Pacific dominated the largest market in the paints and coatings market. The rise in construction projects is fueling a growing demand for paints and coatings. Moreover, the rising disposable incomes in the region are supporting expansion as consumers seek high-quality paints and coatings for diverse applications.

• Europe region accounted for the fastest growth in the paints and coatings market. The expected surge in construction activities across various countries, including the U.K, Germany, Hungary, Poland, Sweden, Ireland, and the Netherlands, is projected to increase the demand for paints and coatings in the upcoming period. The growth of the construction sector in Europe is fueled by ongoing financial support from the European Union (EU) and positive governmental policies.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐓𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐡𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/global-paints-and-coatings-market

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

• The market for paints and coatings is primarily segmented, dependent on resin type, technology, end-user, and region.

• By resin type, the acrylic segment observed a sharp rise owing to its expert presentation traits such as superior gluing, flexibility, longevity, and resistance to UV radiation and chemicals.

• By technology, the powder coating segment dominated the market due to their environmentally friendly creation arising from solvent-liberated configuration and decreasing emissions of volatile organic compounds.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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This release was published on openPR.