Paints and Coatings Market Size Worth USD 274.19 Billion in 2032 | Emergen Research

The global paints and coatings market size was USD 178.42 Billion in 2022 and is expected to register a rapid revenue CAGR of 4.5% during the forecast period. The global paints and coatings market continues to witness rapid expansion, driven by several key factors outlined in a recent market research report. The report identifies the rising adoption of paints and coatings in construction, propelled by the demand for sustainable solutions and the surge in Electric Vehicle (EV) popularity. The semiconductor industry's robust growth also plays a pivotal role, alongside the increasing focus on lightweight materials.

Key Market Drivers:

1. Diverse Industrial Applications: Paints and coatings find extensive use across various high-tech industries such as construction, aerospace, automotive, industrial, and packaging.

2. Electrification Trend: The rising popularity of electric and electrical components, including integrated circuits and Large Scale Integrated Circuits (LSIs), is fueling demand for protective coatings, particularly in the semiconductor industry.

3. Manufacturing Demand: Manufacturers are experiencing increased orders and sales volumes, especially in the construction sector, where paints and coatings play a vital role in meeting rising demand.

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Challenges Faced:

1. Raw Material Price Volatility: Fluctuating prices of essential raw materials, including pigments, resins, solvents, and additives, pose a challenge to market stability, impacting production expenses and pricing strategies.

Segment Insights:

1. Product Diversity: The market offers a range of products, including waterborne coatings, solvent borne coatings, powder coatings, radiation coatings, and others. Waterborne coatings dominate the market due to their versatility and resistance to UV radiation and moisture.

2. Resin Variety: Resin options include acrylic, alkyd, epoxy, polyurethane, polyester, and others. Acrylic coatings are experiencing fast-paced growth, driven by their durability, versatility, and cost-effectiveness.

3. Application Spectrum: Paints and coatings find applications in both industrial and architectural sectors. The architectural segment, in particular, holds a significant market share, driven by increasing adoption in residential and non-residential infrastructure for decorative and protective purposes.

4. End-Use Diversity: End-use sectors encompass construction, aerospace, automotive, industrial, packaging, and others. The construction segment leads the market growth, fueled by the need for protective coatings in walls, ceilings, floors, and metals.

Future Outlook:

The market is poised for continued growth, propelled by technological advancements, increasing environmental consciousness, and the need for durable and sustainable solutions across various industries.

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About the Report:

The market research report offers comprehensive insights into the global paints and coatings market, highlighting key drivers, challenges, and trends shaping its trajectory. It provides valuable information for industry stakeholders, including manufacturers, investors, and policymakers, to make informed decisions and capitalize on emerging opportunities.

Paints and Coatings Top Companies and Competitive Landscape

The global paints and coatings market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective paints and coatings products.

• Akzonobel N.V.
• PPG Industries Inc.
• Sherwin Williams Company
• RPM International Inc.
• NIPSEA Group
• Arkema
• Cardolite Corporation
• BASF SE
• Evonik Industries
• Reichhold LLC 2
• DSM
• Qualipoly Chemical Corp.
• Arakwa Chemical Industries Ltd.
• Alberdingk Boley
• Eternal Material Co. Ltd
• Wacker Chemie AG
• DIC Corporation
• KCC Corporation
• Asian Paints
• DOW

Paints and Coatings Latest Industry News

• On 11 July 2023, BASF Shanghai Coatings' Minhang and Caojing locations in Shanghai, as well as the BASF Coatings plastics plant in Caojing, Shanghai, announced the use of 100% renewable energy in their operations. 2023. This advancement takes BASF's Coatings division a step nearer to achieving its worldwide sustainability objectives, encompassing reductions in carbon emissions, material efficiency, and the promotion of safe and sustainable solutions.

• On 6 March 2023, iGM Resins, a supplier of energy-processing raw materials, announced a supply and distribution agreement with Qualipoly Chemical Corporation, an industrial supplies company. This partnership will enable Qualipoly's full range of energy-processing resins to be distributed through the iGM Resins network. With a shared commitment to excellence and innovation, Qualipoly Chemical Corporation and iGM Resins strive to meet the needs of all customers. By joining forces, Qualipoly Chemical Corporation and iGM Resins will pool a wealth of expertise and resources, delivering even more value to customers and accelerating growth in the advanced UV materials industry.

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Paints and Coatings Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global paints and coatings market on the basis of product, resin, application, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)
o Waterborne Coatings
o Solvent Borne Coatings
o Powder Coatings
o Radiation Curing
o Others

• Resin Outlook (Revenue, USD Billion; 2019-2032)
o Acrylic
o Alkyd
o Epoxy
o Polyurethane
o Polyester
o Others

• Application Outlook (Revenue, USD Billion; 2019-2032)
o Industrial
o Architectural

• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Construction
o Aerospace
o Automotive
o Industrial
o Packaging
o Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

Browse The Full Paints and Coatings Market Report Description, Along With The Tocs And List Of Facts And Figures @ https://www.emergenresearch.com/industry-report/paints-and-coatings-market

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