The Global Paints and Coatings Market - Growth, COVID-19 impact and Forecast (2021-2025)
The Paints and Coatings market is segmented by Resin type (Acrylic, Polyester, Alkyd, Polyurethane, Epoxy and Others); Technology (Waterborne Coatings, Solvent-borne Coatings, Powder Coatings and Others); Application (Architectural, Automotive and Transportation, Wood, General Industrial, Marine, Protective Coatings and Others); Geography (APAC, North America, Europe and ROW).
Introduction
Table of Contents
Market Overview
The Global Paints and coatings market is expected to grow to $ 187.20 billion by 2025
Growth momentum is expected to accelerate during the forecast period with 4.78% CAGR
The market is expected to recover from 2021 onwards with industrial and transportation activities getting back on track and functioning with full capacities.
innovative formulation technologies have significantly facilitated to cater to numerous new and diverse consumer demands
APAC is forecasted to remain as largest consumer for this market
Key Trends
Innovative formulation technologies have significantly facilitated to cater to numerous new and diverse consumer demands. Some of them are Anticorrosive protection, low-VOC content coats, and nano coatings.
Increasing Applications of Fluoropolymers in The Building & Construction Industry
Key Market Players
Some of the key players in the market are The Sherwin Williams Company, Akzo Nobel, BASF, RPM International, PPG Industries, Henkel AG & Company.
The key players are rigorously competing and offering custom solutions for high-performance low-cost paints and coating requirements.
Major players focus on mergers & acquisitions, expansion of their manufacturing facilities, infrastructural development, investments in R&D facilities, and are seeking opportunities to vertically integrate across the value chain.
Growth Drivers and Challenges
The rising investment in various construction and infrastructure projects across the globe is driving the market. Global construction industry is growing at a faster pace with a major contribution from emerging countries
Growing popularity of elastomeric coatings in tilt-up concrete in building & construction
Environmental regulations boosting the demand for VOC-Free Coatings
Environmental Challenges with Respect to Wastewater Discharge
Difficulty in Obtaining Thin Films in Powder Coating