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Paints and Coatings Market Size to Hit USD 274.8 Billion by 2033 | With a 4.5% CAGR

12-05-2024 11:13 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Paints and Coatings Market

Paints and Coatings Market

IMARC Group's report titled "๐๐š๐ข๐ง๐ญ๐ฌ ๐š๐ง๐ ๐‚๐จ๐š๐ญ๐ข๐ง๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐›๐ฒ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ (๐–๐š๐ญ๐ž๐ซ๐›๐จ๐ซ๐ง๐ž ๐‚๐จ๐š๐ญ๐ข๐ง๐ ๐ฌ, ๐’๐จ๐ฅ๐ฏ๐ž๐ง๐ญ-๐›๐จ๐ซ๐ง๐ž ๐‚๐จ๐š๐ญ๐ข๐ง๐ ๐ฌ, ๐๐จ๐ฐ๐๐ž๐ซ ๐‚๐จ๐š๐ญ๐ข๐ง๐ ๐ฌ, ๐‡๐ข๐ ๐ก ๐’๐จ๐ฅ๐ข๐๐ฌ/๐‘๐š๐๐ข๐š๐ญ๐ข๐จ๐ง ๐‚๐ฎ๐ซ๐ข๐ง๐ , ๐š๐ง๐ ๐Ž๐ญ๐ก๐ž๐ซ๐ฌ), ๐Œ๐š๐ญ๐ž๐ซ๐ข๐š๐ฅ (๐€๐œ๐ซ๐ฒ๐ฅ๐ข๐œ, ๐€๐ฅ๐ค๐ฒ๐, ๐๐จ๐ฅ๐ฒ๐ฎ๐ซ๐ž๐ญ๐ก๐š๐ง๐ž, ๐„๐ฉ๐จ๐ฑ๐ฒ, ๐๐จ๐ฅ๐ฒ๐ž๐ฌ๐ญ๐ž๐ซ, ๐š๐ง๐ ๐Ž๐ญ๐ก๐ž๐ซ๐ฌ), ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง (๐€๐ซ๐œ๐ก๐ข๐ญ๐ž๐œ๐ญ๐ฎ๐ซ๐š๐ฅ ๐š๐ง๐ ๐ƒ๐ž๐œ๐จ๐ซ๐š๐ญ๐ข๐ฏ๐ž, ๐๐จ๐ง-๐€๐ซ๐œ๐ก๐ข๐ญ๐ž๐œ๐ญ๐ฎ๐ซ๐š๐ฅ), ๐š๐ง๐ ๐‘๐ž๐ ๐ข๐จ๐ง ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ“-๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ‘". Theย global paints and coatings market sizeย reached USD 185.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 274.8 Billion by 2033, exhibiting a growth rate (CAGR) of 4.5% during 2025-2033.

๐†๐ซ๐š๐› ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐… ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ:ย https://www.imarcgroup.com/paints-coatings-market/requestsample

๐…๐š๐œ๐ญ๐จ๐ซ๐ฌ ๐€๐Ÿ๐Ÿ๐ž๐œ๐ญ๐ข๐ง๐  ๐ญ๐ก๐ž ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐Ÿ ๐ญ๐ก๐ž ๐๐š๐ข๐ง๐ญ๐ฌ ๐š๐ง๐ ๐‚๐จ๐š๐ญ๐ข๐ง๐ ๐ฌ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:

โ— ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ ๐š๐ง๐ ๐ˆ๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง:

Technological advancements the main key driver in expansion of the paints and coatings industry. Today, manufactures work hand in hand to develop new products that will satisfy these needs as well as perform better as required by the regulatory bodies. There is tendency towards biocides - free and more environmental coatings in the market. This is because of issues of environment and strict regulation. Some of the most commonly used types include water borne paints and low VOC coating. These are much safer and have minimal effects on the environment as opposed to other methods favored by many. Also, the nanotechnology's development resulted in coatings with certain characteristics. Some of these properties include; Self healing, Antimicrobial and Water resistance properties. Such innovations expand their application in automotive, construction as well as aerospace industries.

โ— ๐†๐ซ๐จ๐ฐ๐ข๐ง๐  ๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐š๐ง๐ ๐ˆ๐ง๐Ÿ๐ซ๐š๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ฎ๐ซ๐ž ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ:

Construction and infrastructure sectors act therefore as the main economic drivers for the paints and coatings industry. Reasons such as increased population, urbanization, and increased affluence translate to increasing new buildings demand. This trend is true, particularly in the Asia-Pacific and Latin American markets where BipV is being applied to infrastructure projects and urban regeneration. As a result, there is increasing demand for paints and coatings to serve as the shield and aesthetically decorate the built environment including buildings, bridges and roads. Also the improvement projects for existing structures that are also renovation projects swell the market growth.

โ— ๐„๐ฑ๐ฉ๐š๐ง๐๐ข๐ง๐  ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐š๐ง๐ ๐“๐ซ๐š๐ง๐ฌ๐ฉ๐จ๐ซ๐ญ๐š๐ญ๐ข๐จ๐ง ๐’๐ž๐œ๐ญ๐จ๐ซ:

Automotive and transportation segment out rightly influence the consumption of paints and coatings to a great extent. This has result from the production of vehicles, their maintenance and the demand from the after market services. On an increase of the number of vehicle owners around the world, there is an increasing demand for both private cars and commercial transport. This trend has a positive impact in the paints and coatings market. To satisfy auto OEMs and consumers requirements, current applied coatings by manufacturers are characterized by enhanced corrosion and scratch protection, improved color stability, and prolonged service life. In addition, new opportunities arise with electric and autonomous vehicles at the fore front. This is particularly the case with coatings that enhance energy and performance, including lightweight and thermal management coatings.

๐๐ฎ๐ฒ ๐…๐ฎ๐ฅ๐ฅ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:ย https://www.imarcgroup.com/checkout?id=6312&method=502

๐‹๐ž๐š๐๐ข๐ง๐  ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ ๐Ž๐ฉ๐ž๐ซ๐š๐ญ๐ข๐ง๐  ๐ข๐ง ๐ญ๐ก๐ž ๐†๐ฅ๐จ๐›๐š๐ฅ ๐๐š๐ข๐ง๐ญ ๐š๐ง๐ ๐‚๐จ๐š๐ญ๐ข๐ง๐ ๐ฌ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:

โ— Akzo Nobel N.V.
โ— Asian Paints Ltd.
โ— Axalta Coating Systems Ltd.
โ— Berger Paints India Limited
โ— Indigo Paints Limited
โ— Jotun A/S
โ— Kansai Paint Co. Ltd.
โ— National Paints Factories Co. Ltd.
โ— PPG Industries Inc.
โ— RPM International Inc.
โ— The Sherwin-Williams Company and Tiger Coatings GmbH & Co. KG.

๐๐š๐ข๐ง๐ญ๐ฌ ๐š๐ง๐ ๐‚๐จ๐š๐ญ๐ข๐ง๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ:

โ— Waterborne Coatings
โ— Solvent-borne Coatings
โ— Powder Coatings
โ— High Solids/Radiation Curing
โ— Others

Waterborne coatings represented the largest segment due to their environmentally friendly nature, low VOC content, and increasing regulatory pressure to reduce emissions, driving their adoption across various industries and applications.

๐๐ฒ ๐Œ๐š๐ญ๐ž๐ซ๐ข๐š๐ฅ:

โ— Acrylic
โ— Alkyd
โ— Polyurethane
โ— Epoxy
โ— Polyester
โ— Others

Acrylic represented the largest segment due to its versatility, durability, and wide-ranging applications in architectural coatings, automotive coatings, industrial coatings, and decorative paints, among others, making it a preferred choice for manufacturers and end-users alike.

๐๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง:

โ— Architectural and Decorative
โ— Non-Architectural
โ— Automotive and Transportation
โ— Wood
โ— General Industrial
โ— Marine
โ— Protective
โ— Others

Architectural and decorative represented the largest segment primarily because of the booming construction industry worldwide, coupled with growing urbanization and increasing consumer demand for aesthetically pleasing and long-lasting coatings for residential, commercial, and institutional buildings.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:

โ— North America (United States, Canada)
โ— Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
โ— Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
โ— Latin America (Brazil, Mexico, Others)
โ— Middle East and Africa

Asia Pacific enjoys the leading position in the paints and coatings market, driven by rapid urbanization, infrastructure development, and thriving construction industry.

๐€๐ฌ๐ค ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ญ ๐Ÿ๐จ๐ซ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:ย https://www.imarcgroup.com/request?type=report&id=6312&flag=C

๐†๐ฅ๐จ๐›๐š๐ฅ ๐๐š๐ข๐ง๐ญ๐ฌ ๐š๐ง๐ ๐‚๐จ๐š๐ญ๐ข๐ง๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ:

The global market is fueled by rising incomes in developing countries. This growth leads to higher spending on home improvement and decoration. Also, more attention is being paid to maintenance and repairs to extend the life of the property and improve efficiency. This trend drives market growth.

Furthermore, rapid urbanization and infrastructure projects in these countries have fueled the demand for architectural coatings. These are essential for homes, businesses, and public buildings. Similarly, innovations in the automotive sector, such as electric cars and self-driving technology, also drive demand. These advancements require coatings that provide electrical insulation, manage heat, and are compatible with sensors. This requirement drives market growth.

๐๐จ๐ญ๐ž: ๐ˆ๐Ÿ ๐ฒ๐จ๐ฎ ๐ง๐ž๐ž๐ ๐ฌ๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง ๐ญ๐ก๐š๐ญ ๐ข๐ฌ ๐ง๐จ๐ญ ๐œ๐ฎ๐ซ๐ซ๐ž๐ง๐ญ๐ฅ๐ฒ ๐ฐ๐ข๐ญ๐ก๐ข๐ง ๐ญ๐ก๐ž ๐ฌ๐œ๐จ๐ฉ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ, ๐ฐ๐ž ๐ฐ๐ข๐ฅ๐ฅ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ž ๐ข๐ญ ๐ญ๐จ ๐ฒ๐จ๐ฎ ๐š๐ฌ ๐š ๐ฉ๐š๐ซ๐ญ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐œ๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง.

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐’

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email:ย sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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