Boosting Growth in the Global Paints and Coatings Market Explore 2018-2023 trends, forecasts, analysis

Synopsis of Paints & Coatings Market:

Paints & Coatings are used to provide glossy and decorative finish to the product. These coatings are either composed of organic or non-organic resins. They offer excellent adhesion with high corrosion and abrasion resistance. These coatings are applied to increase the durability and performance of the product. Owing to these factors, they are used in various applications such as architectural, automotive, wood, industrial, and others.

As per our Analysis, the Global Paints & Coatings Market is bifurcated into resin, technology, and application. The market by resin type is further divided into epoxy, silicone, polyester, acrylic, alkyd, and others. Among these, the acrylic resin segment holds the major portion of the market on account of its growing use in various application industries such as automotive, aerospace, marine, and others. The epoxy resin segment is vastly used in food & beverages, construction and buildings, automotive, and chemical industries because they offer quick drying, toughness, and protective coating for metals and other materials. Therefore, the extensive consumption of this resin is estimated to drive the market in the coming years. The water, solvent, high solids and powder segments are classified on the basis of technology in the market. Among these, the water segment is predicted to witness a rapid growth in the market due to its easy and convenient use.

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Segmental Analysis:

The Global Paints & Coatings Market is segmented into resin type, technology and application. On the basis of resin type, the market is further categorized into acrylic, alkyd, epoxy, polyurethane, polyester, and others. Among these, the acrylic resin segment holds a majority of the market share due to its extraordinary features offered by the product such as biocompatible, antioxidant, and corrosion resistance. The epoxy resin segment is projected to witness a rapid growth due to its growing consumption in heavy end industries.

The market by technology is further categorized into water, solvent and powder segments. Among these, the powder segment is accounted for major share in the market due to its growing use as a biocompatible and feasible product. The strict government regulations implemented by the regional governments has prompted manufacturers and investors to shift their focus from solvent coatings to powder based products. The water segment is estimated to witness a rapid growth in the market due to its non-toxic and soluble nature. Architectural, automotive, wood, industrial and others are segregated on the basis of application segment. Additionally, it is predicted that the automotive segment is set to witness a higher CAGR during the forecast period.

Sample Pages of this report: https://www.marketresearchfuture.com/reports/global-paints-and-coatings-market-854

Segmental Analysis:

The Global Paints & Coatings Market is segmented into resin type, technology and application. On the basis of resin type, the market is further categorized into acrylic, alkyd, epoxy, polyurethane, polyester, and others. Among these, the acrylic resin segment holds a majority of the market share due to its extraordinary features offered by the product such as biocompatible, antioxidant, and corrosion resistance. The epoxy resin segment is projected to witness a rapid growth due to its growing consumption in heavy end industries. The market by technology is further categorized into water, solvent and powder segments. Among these, the powder segment is accounted for major share in the market due to its growing use as a biocompatible and feasible product. The strict government regulations implemented by the regional governments has prompted manufacturers and investors to shift their focus from solvent coatings to powder based products.

The water segment is estimated to witness a rapid growth in the market due to its non-toxic and soluble nature. Architectural, automotive, wood, industrial and others are segregated on the basis of application segment. Additionally, it is predicted that the automotive segment is set to witness a higher CAGR during the forecast period.

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