Press release
Paints & Coatings Market is Forecasted to Reach US$ 228.15 Billion in 2028, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global paints & coatings market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1299/paints-&-coatings-market.html#form
Report Highlights:
Market Size in 2028: US$ 228.15 billion
Growth (CAGR): 4.09% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Paints & Coatings Market:
The global paints & coatings market is segmented based on end-use industry type, resin type, technology type, and region.
Based on end-use industry type - "The architectural segment accounted for the largest market share."
The market is segmented as architectural and industrial. The architectural segment accounted for the larger share by application in 2022, owing to government focus on residential construction especially in China and India.
Based on resin type - "The acrylic segment accounted for the largest market share."
The market is segmented as acrylic, alkyd, epoxy, polyester, polyurethane, and others. The acrylic segment held a 40% market share in 2022 and is expected to remain dominant during the forecast period. The significant share of the acrylic segment is attributed to resistance to weathering & oxidation and the availability of a variety of high-gloss colours. The utility of acrylic for outdoor applications coupled with its moderate price will augment the segmental growth over the forecast period.
Based technology type - "The waterborne segment accounted for the largest market share."
The paints & coatings market is segmented as waterborne, solvent-borne, powder coating, and others. The waterborne segment held a 35% market share in 2022 and is expected to remain dominant over the forecast period. The dominance of the waterborne segment is due to low flammability, ease of use, eco-friendly properties, and less hazardous disposal associated with the technology type.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/1299/paints-&-coatings-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific market share is more than 35% in 2022 and is expected to be the largest market during the forecast period. This growth outlook is majorly attributed to the following-
• The high share is attributed to the growing economy and expanding construction industry.
• Rapid urbanization especially in China and India will augment the regional growth.
• North America is anticipated to offer significant growth opportunities over the forecast period, with the US being the major country.
Paints & Coatings Market Drivers:
Some of the key drivers listed in the report are given below.
The prime factor contributing to the demand for paints & coatings is mainly the growing demand from end-use industries such as architectural, general industrial, protective, and automotive & transportation, which in turn, is driving the growth of the global paints & coatings market. The global population is experiencing rapid growth, particularly in urban areas, which is fueling the demand for housing, infrastructure, and transportation.
As a result, there is an increased need for paints and coatings in the architectural, industrial, and transportation sectors. Governments worldwide are imposing stricter regulations on volatile organic compounds (VOCs) found in paints and coatings due to their environmental harm and contribution to air pollution. This growing focus on VOC regulation is generating higher demand for low-VOC and water-based alternatives in the market.
Top Companies in the Paints & Coatings Market:
Stratview Research has identified the following companies as the top market players.
• AkzoNobel N.V.
• Asian Paints Limited
• Axalta Coatings System LLC
• BASF Coatings GmbH
• Jotun A/S
• Nippon Paint Holding Co. Ltd.
• PPG Industries
• RPM International Inc.
• The Sherwin-Williams Company
• Tikkurila
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Paints & Coatings Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• European Paints and Coatings Market: https://www.stratviewresearch.com/3645/European-paints-and-coatings-market.html
• Architectural Coatings Market: https://www.stratviewresearch.com/3399/architectural-coatings-market.html
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Website: www.stratviewresearch.com
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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