Construction Paints And Coatings Industry to Achieve $79.83 Billion Growth by 2029

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How Will the Construction Paints And Coatings Market Grow by 2025 in Terms of Size and Growth?
In recent times, there has been a consistent growth in the market size of construction paints and coatings. It is predicted to increase from $60.16 billion in 2024 to $62.5 billion in 2025, with a compound annual growth rate (CAGR) of 3.9%. Factors such as rising construction activities, urbanization trends, adherence to regulations, economic stability, and raw material costs have contributed to this growth during the historic period.

What Are the Estimated Growth Rates for the Construction Paints And Coatings Industry Through 2029?
In the coming years, the market size for construction paints and coatings is predicted to undergo robust growth, expanding to $79.83 billion in 2029 with a compound annual growth rate (CAGR) of 6.3%. The boost in this projected period can be credited to the global post-pandemic recovery, sustainability initiatives, infrastructure investment, an uptick in residential and commercial real estate demand, and supply chain difficulties. Significant trends within this forecast period include the rise of smart coatings and nanotechnology, increased digitalization in construction, technological advancements, digital transformation and an increase in research and development for performance improvements.

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What Are the Strategic Drivers Boosting Construction Paints And Coatings Market Performance?
The increased number of new construction endeavours is projected to accelerate the growth of the market for construction paints and coatings. New construction projects encompass the organized process of building, fixing, refurbishing, renovating or modifying a structure, or other built assets like tunnels or bridges. During these projects, paints and coatings play a crucial role in protecting against water infiltration, corrosion, decay, and deterioration. For example, as reported by Zippia, a US-based technology, information, and internet firm, in March 2023, January 2023 saw the completion of 1.4 million new construction projects, marking a 12.8% increase in comparison to January 2022. Thus, the surge in new construction projects is fueling the expansion of the market for construction paints and coatings.

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What Are the Segments in the Construction Paints And Coatings Market?
The construction paints and coatings market covered in this report is segmented -

1) By Product Type: Solvent-Borne Technologies, Water-Borne Coating, Power Coating, High Solids/ Radiation Cure, Other Product Types
2) By Resin Type: Polyurethane, Acrylic, Epoxy, Polyester, Alkyd
3) By Application: Residential, Commercial, Automotive And Aviation, Medical And Healthcare

Subsegments:
1) By Solvent-Borne Technologies: Alkyd Coatings, Epoxy Coatings, Polyurethane Coatings
2) By Water-Borne Coating: Acrylic Coatings, Vinyl Acetate Coatings, Styrene-Acrylic Coatings
3) By Powder Coating: Thermosetting Powder Coatings, Thermoplastic Powder Coatings
4) By High Solids Or Radiation Cure: High Solids Solvent-Borne Coatings, UV-Curable Coatings
5) By Other Product Types: Specialty Coatings, Antimicrobial Coatings, Intumescent Coatings

What Are the Key Adoption Trends in the Construction Paints And Coatings Market?
The use of tech-based innovations is emerging as a crucial trend in the construction paints and coatings market. Businesses engaged in the construction paints and coatings market are leveraging these technological advancements to maintain their market standing. For instance, Dow, an American firm involved in the plastic and chemical manufacturing industry, launched a novel digital paint formulation platform in March 2023. The platform harnessed digital technology to foster the development of advanced skills set to push innovation to new heights and provide enduring value to markets and consumers. This technology is designed to offer data-analytic functionalities with a view to accelerate innovation in the paint and coatings industry and streamline the formulation procedure.

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Which Companies Lead the Competitive Landscape of the Construction Paints And Coatings Industry?
Major companies operating in the construction paints and coatings market include PPG Industries Inc., Badische Anilin- und Sodafabrik, Akzonobel N.V., Sherwin Williams Company, Asian Paints Ltd., Axalta Coating Systems Ltd., Valspar Corporation, Helios Group, Tikkurila Oyj, Beckers Group, DyStar Singapore Pte Ltd., Republic Powdered Metals International Inc., Jotun Chemicals, Dow Chemicals, Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd., Benjamin Moore & Co., Berger Paints Ltd., Hempel A/S, Brillux GmbH & Co. KG, DAW SE, H.B. Fuller Company, Dunn-Edwards Corporation, Kelly-Moore Paint Company Inc., Rust-Oleum Corporation, Toa Kensetsu Kogyo Corporation, Diamond Vogel Paints, Tnemec Company Inc., National Paints Factories Co. Ltd., Farrow & Ball Ltd.

Where Are the Key Construction Paints And Coatings Market Opportunities by Region?
North America was the largest region in the construction paints and coatings market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global construction paints and coatings market report during the forecast period. The regions covered in the construction paints and coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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