Paints and Coatings Market Estimated To Paint a Lustrous Growth At 4.3% CAGR by 2027

Global Paints and Coatings Market - Overview
Paints and Coatings are liquid or mastic composition, which converts into a solid film after being applied upon a substrate in a thin layer. Paints and coatings are used for functional or decorative purpose. The world is becoming more sophisticated place with the increasing urbanization and growing quality of life. The increasing demand from the construction and manufacturing industries are driving the growth of the Global Paints and Coatings Market. The technological enhancements are providing ample opportunities for the growth of the paints and coatings market, during the forecast period.
According to a recent study report published by the Market Research Future, The Global Paints and Coatings Market is expected to witness a significant growth in industrial Paints and Coatings with a CAGR of 4.3% in terms of volume and 5.6% in terms of value, during the forecast period, which is influenced largely by increasing waterborne recreational activities and global defense expenditure.

The Global Paints and Coatings Market is driven by advancements in the end user industries of paints and coatings, and growing infrastructural developments. Additionally, the rise in demand from pre-engineered buildings has also augmented the use of Paints and Coatings, such as silicon modified polyester, regular modified polyester, and super polyester coatings, in both internal and external environments. With the growing demand for repainting and new construction projects across the globe, the construction paints and coatings market is projected to witness a lustrous growth in the future, states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures, widely spread over 115 pages.

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Global Paints and Coatings Market - Key Players
The Global Paint and Coatings Market appears to be immensely competitive with the presence of several small and big players operating in the market. Key Players compete based on various factors such as price, quality, innovation, service, reputation, distribution, and promotion. Major players of the market are increasingly adopting strategic approach or the trend of innovation in products. This trend is likely to continue in the future, as the established players want to harvest upon a larger market share. Local players are extending their foothold in the market by offering products at lower prices, which attracts end users. To extend their geographic reach and maximize their profit shares, the players operating in the global market of paints and coatings are focusing on increasing their market share by M&A.
The key players profiled in MRFR Analysis are Akzo Nobel N.V, PPG Industries, The Sherwin-Williams Company, RPM International Inc, The Valspar Corporation, Kansai Paint Co., Ltd., and Axalta Coating Systems Ltd.

Global Paints and Coatings Market - Segments
Paints and Coatings Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation on the basis of Products: Comprises Architectural and decorative (Water based, Solvent based and others.

Segmentation on the basis of Industrial: Comprises Water based, Solvent based, Powder, UV based and Marine.

Segmentation On the basis of Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Global Paints and Coatings Market - Synopsis
Construction industry in the developing countries is the large in abeyance or disuse market for paints and coatings. With the ever increasing global population, construction industry is growing too. Such untapped or disuse markets are generating demand for paints and coatings. The growing population and per capita income has been providing an impetus to the demand for consumer goods and automotive, which in turn is boosting industrialization. The use of metals has also increased to a great deal during the past few years. Paints and coatings are primarily used to protect machines and equipment from rusting and corrosion in industries. As for consumer goods, they serve the purpose of keeping corrosion at bay and make products look better. Architectural and decorative paints and coatings are mainly applied on interior and exterior walls of houses and corporate buildings. Distempers are costlier than emulsions and account for lesser market share as compared to emulsions.

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Paints and Coatings Market Regional Analysis
The North American Paints and Coatings Market is growing primarily, due to the increasing number of industries in the region. An average population growth is witnessed in the region, which in turn, is generating demand for new houses and increased supply of consumer durable goods.

In terms of volume, the U.K. paints and coatings market is expected to grow with the highest CAGR, among the countries of European region in the forecast period. While in terms of value, the U.K. and Germany are expected to grow with an equal rate of CAGR during the forecast period.

The Asia-Pacific Paints and Coatings Market is expected to grow with the highest CAGR in terms of volume and a moderate CAGR in terms of value in the forecast period, due to developing infrastructures, growing per capita income of the global population, and increasing urbanization in the region.

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