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Paints & Coatings MarketTrends, Opportunities, Graph, Key Segmentation, Regional Growth, Leading Companies, and Forecast to 2029

08-26-2024 11:54 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ABNewswire

Browse 456 market data Tables and 62 Figures spread through 410 Pages and in-depth TOC on "Paints & Coatings Market"

Browse 456 market data Tables and 62 Figures spread through 410 Pages and in-depth TOC on "Paints & Coatings Market"

The Paints & Coatings market, driven by the construction, automotive, and industrial sectors, is growing due to rising demand for durable, protective, and decorative coatings. Innovations focus on sustainability, including low-VOC and eco-friendly products.
The paints & coatings market [https://www.marketsandmarkets.com/Market-Reports/paint-coating-market-156661838.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paintcoatingmarket] is projected to grow from USD 194.5 billion in 2024 to USD 227.5 billion by 2029, at a CAGR of 3.2% between 2024 and 2029. Globally, the paint and coatings market has grown at a moderate rate, and this trend is anticipated to continue. The automobile OEMs, construction, refinishing, and architectural sectors are the main drivers of the market. Globally, China and India are at the top of the paint and coatings market.

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The major markets are in Asia Pacific, followed by North America and Europe. The Asia Pacific region's growth is mostly attributable to strong economic growth and significant investments made in a range of industries, including general industrial, construction, automobile OEMs, and architecture. The manufacturing sector has benefited greatly from the global economic recovery, while the demand for new residential development and infrastructure has been fueled by rising urbanization.

The construction and renovation of roads, bridges, water and sewer systems, smart cities, and other infrastructure have increased demand for paints and coatings [https://www.marketsandmarkets.com/Market-Reports/paint-coating-market-156661838.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paintcoatingmarket]. In contrast, industrialized economies such as the US, Germany, UK, France, and Japan have matured markets for paints & coatings. As a result, in order to combat concerns such as declining sales, many businesses are refocusing their efforts in areas with consistent demand.

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Economic uncertainty, erratic raw material costs, unstable foreign exchange rates, sluggish economic growth, and the disparity between raw material supply and demand are the main obstacles faced by producers of paints & coatings in developed nations. In order to maintain their competitive edge and take advantage of the rising demand for paints and coatings worldwide, these factors have forced manufacturers to investigate new strategies, such as diversifying their product portfolios, investing in research and development, and increasing their presence in emerging markets.

The major players operating in this business include Akzo Nobel N.V. (Netherlands), PPG Industries Inc. (US), The Sherwin-Williams Company (US), Axalta Coating Systems LLC. (US), Jotun A/S (Norway) and others.

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About MarketsandMarkets Trademark

MarketsandMarkets Trademark has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=paints-coatings-markettrends-opportunities-graph-key-segmentation-regional-growth-leading-companies-and-forecast-to-2029]
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