Paints and Coating Market
Product Overview
Paint and coating refer tglossy material which is used tcolor, decorate, and provides texture tthe objects. They protect the object from sunlight, oxidation, and improve the durability of the object. Paints basically enhance the beauty of the object whereas coatings offer both decoration and protection. Paint consists of pigments, additives, solvent, and binder. They can be in solid, liquid, and gaseous forms. They are applied on walls, metal surfaces, equipment, and others by various application techniques including brushes, scrapers, paint rollers, blades, other instruments, or body parts such as fingers and thumbs. Paints and coatings are primarily used in automotive, construction, architectural, and wood industries.
Market Highlights
Global Paints and Coatings Market is expected tproject a notable CAGR of 5.22% in 2030.
Global Paints and Coatings Market tsurpass USD 264.05 billion by 2030 from USD 158.47 billion in 2020 at a CAGR of 5.22% throughout the forecast period, i.e., 2021-30. The demand for paints and coatings is expected taccelerate due tits properties such as wettability, adhesion, and corrosion resistance. Additionally, the advancements in automobiles and chemical industries have aided the growth of the global market. Paint and coatings are extensively used in the aerospace industry.
Recent Highlights in Global Paints and Coatings Market
In April 2020, AkzNobel N.V purchased a Mauritius-based paint and coating manufacturer, Mauvilac Industries Limited tstrengthen its position and increase its market share.
In December 2018, PPG Industries Inc. announced tacquire the global coatings manufacturer Whitford Worldwide Corporation texpand its product portfolio.
Global Paints and Coatings Market: Segments
Acrylic segment tgrow with the highest CAGR during 2021-30
Global Paints and Coatings Market is segmented by Resin intAcrylic, Alkyd, Epoxy, Polyurethane, Polyester, and others. Acrylic segment held the largest market share in the year 2020 and will continue tdominate the market throughout the forecast period. This growth is attributed owing tits growing application in architectural paints and industrial coating. For the manufacturing of coats and varnishes, acrylic resins are widely used. They possess excellent stabilization and weathering properties which is making them suitable for usage in paints and coatings
Waterborne segment tgrow with the highest CAGR during 2021-30
Global Paints and Coatings market is bifurcated by Technology intWaterborne, Solvent-borne, Powder, and others. The waterborne segment held the largest market share in the year 2020 and will continue tdominate the market throughout the forecast period. Due ttheir low toxicity and flammability waterborne paints and coatings are primarily used in the architectural sector
Architectural segment tgrow with the highest CAGR during 2021-30
Global Paints and Coatings market is alssegmented by application intArchitectural and industrial segment. The architectural segment held the largest market share in the year 2020 and will continue tdominate the market throughout the forecast period. Paints and coatings are mostly used for the decoration of residential or non-residential buildings tprotect against harmful UV rays and corrosion. Architectural paints and coatings are alsused tenhance the interiors including wood flooring, wall paintings, sculptures, and furniture.
Market Dynamics
Drivers
Advancement in Construction
With the growing population, the investment in construction projects is increasing which has fueled the demand for Paints and coatings. Rapid urbanization and industrialization are rising the demand for building and infrastructure. Paints and coatings offer aesthetic and protective benefits tthese structures.
Mounting demand from Automotive industry
Mounting demand for automobiles on account of the rapid urbanization coupled with rising disposable income, changing lifestyle is expected tflourish the paints and coatings market. The component of automobiles is coated or painted with resins tprotect them from rusting and corrosion. Technological advancements in the sector boosting the market as well. Various manufactures are introducing paints that are eco-friendly and follow the environmental regulations which are anticipated tdrive the market.
Restraint
Fluctuating Price of Raw Materials
The fluctuating price of raw materials is projected thamper the market growth of paints & coatings. major key raw materials used in the manufacturing of paints & coatings are Oil derivatives and titanium dioxide. The prices fluctuate because of the gap in supply and demand of titanium dioxide.
Global Market: Key Players
PPG Industries
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis
AkzNobel NV
Asian Paints Ltd.
Axalta Coating Systems
BASF SE
Berger Paints India Ltd.
Diamond Vogel Paints
Dow Inc.
Hempel A/S
Jotun A/S
Kansai Paint Co., Ltd.
KCC Corporation
Other Prominent Players
Global Paints and Coatings Market: Regions
Global Paints and Coatings market is segmented based on regional analysis intfive major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Paints and Coatings markets market in Asia Pacific held the largest market share in the year 2018. Asia Pacific will continue tdominate the global tinplate market due tits and rising demand from industrial applications and improving economic growth. Mounting construction activities and automotive in this region is fueling the demand for paints and coatings. Additionally, the easy accessibility of raw materials and less harsh laws regarding VOC emission accelerated the market in this region.
Global Paints and Coatings market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Paints and Coatings market report alscontains analysis on:
Paints and Coatings Market Segments:
By Resin
Acrylic
Alkyd
Epoxy
Polyurethane
Polyester
Others
By Technology
Waterborne
Solvent-borne
Powder
Others
By Application
Architectural
Residential
Non-residential
Industrial
Paints and Coatings Market Dynamics
Paints and Coatings Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Paint and coating refer tglossy material which is used tcolor, decorate, and provides texture tthe objects. They protect the object from sunlight, oxidation, and improve the durability of the object. Paints basically enhance the beauty of the object whereas coatings offer both decoration and protection. Paint consists of pigments, additives, solvent, and binder. They can be in solid, liquid, and gaseous forms. They are applied on walls, metal surfaces, equipment, and others by various application techniques including brushes, scrapers, paint rollers, blades, other instruments, or body parts such as fingers and thumbs. Paints and coatings are primarily used in automotive, construction, architectural, and wood industries.
Market Highlights
Global Paints and Coatings Market is expected tproject a notable CAGR of 5.22% in 2030.
Global Paints and Coatings Market tsurpass USD 264.05 billion by 2030 from USD 158.47 billion in 2020 at a CAGR of 5.22% throughout the forecast period, i.e., 2021-30. The demand for paints and coatings is expected taccelerate due tits properties such as wettability, adhesion, and corrosion resistance. Additionally, the advancements in automobiles and chemical industries have aided the growth of the global market. Paint and coatings are extensively used in the aerospace industry.
Recent Highlights in Global Paints and Coatings Market
In April 2020, AkzNobel N.V purchased a Mauritius-based paint and coating manufacturer, Mauvilac Industries Limited tstrengthen its position and increase its market share.
In December 2018, PPG Industries Inc. announced tacquire the global coatings manufacturer Whitford Worldwide Corporation texpand its product portfolio.
Global Paints and Coatings Market: Segments
Acrylic segment tgrow with the highest CAGR during 2021-30
Global Paints and Coatings Market is segmented by Resin intAcrylic, Alkyd, Epoxy, Polyurethane, Polyester, and others. Acrylic segment held the largest market share in the year 2020 and will continue tdominate the market throughout the forecast period. This growth is attributed owing tits growing application in architectural paints and industrial coating. For the manufacturing of coats and varnishes, acrylic resins are widely used. They possess excellent stabilization and weathering properties which is making them suitable for usage in paints and coatings
Waterborne segment tgrow with the highest CAGR during 2021-30
Global Paints and Coatings market is bifurcated by Technology intWaterborne, Solvent-borne, Powder, and others. The waterborne segment held the largest market share in the year 2020 and will continue tdominate the market throughout the forecast period. Due ttheir low toxicity and flammability waterborne paints and coatings are primarily used in the architectural sector
Architectural segment tgrow with the highest CAGR during 2021-30
Global Paints and Coatings market is alssegmented by application intArchitectural and industrial segment. The architectural segment held the largest market share in the year 2020 and will continue tdominate the market throughout the forecast period. Paints and coatings are mostly used for the decoration of residential or non-residential buildings tprotect against harmful UV rays and corrosion. Architectural paints and coatings are alsused tenhance the interiors including wood flooring, wall paintings, sculptures, and furniture.
Market Dynamics
Drivers
Advancement in Construction
With the growing population, the investment in construction projects is increasing which has fueled the demand for Paints and coatings. Rapid urbanization and industrialization are rising the demand for building and infrastructure. Paints and coatings offer aesthetic and protective benefits tthese structures.
Mounting demand from Automotive industry
Mounting demand for automobiles on account of the rapid urbanization coupled with rising disposable income, changing lifestyle is expected tflourish the paints and coatings market. The component of automobiles is coated or painted with resins tprotect them from rusting and corrosion. Technological advancements in the sector boosting the market as well. Various manufactures are introducing paints that are eco-friendly and follow the environmental regulations which are anticipated tdrive the market.
Restraint
Fluctuating Price of Raw Materials
The fluctuating price of raw materials is projected thamper the market growth of paints & coatings. major key raw materials used in the manufacturing of paints & coatings are Oil derivatives and titanium dioxide. The prices fluctuate because of the gap in supply and demand of titanium dioxide.
Global Market: Key Players
PPG Industries
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis
AkzNobel NV
Asian Paints Ltd.
Axalta Coating Systems
BASF SE
Berger Paints India Ltd.
Diamond Vogel Paints
Dow Inc.
Hempel A/S
Jotun A/S
Kansai Paint Co., Ltd.
KCC Corporation
Other Prominent Players
Global Paints and Coatings Market: Regions
Global Paints and Coatings market is segmented based on regional analysis intfive major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Paints and Coatings markets market in Asia Pacific held the largest market share in the year 2018. Asia Pacific will continue tdominate the global tinplate market due tits and rising demand from industrial applications and improving economic growth. Mounting construction activities and automotive in this region is fueling the demand for paints and coatings. Additionally, the easy accessibility of raw materials and less harsh laws regarding VOC emission accelerated the market in this region.
Global Paints and Coatings market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Paints and Coatings market report alscontains analysis on:
Paints and Coatings Market Segments:
By Resin
Acrylic
Alkyd
Epoxy
Polyurethane
Polyester
Others
By Technology
Waterborne
Solvent-borne
Powder
Others
By Application
Architectural
Residential
Non-residential
Industrial
Paints and Coatings Market Dynamics
Paints and Coatings Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
1. EXECUTIVE SUMMARY
2. GLOBAL PAINTS AND COATINGS MARKET
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. RESEARCH METHODOLOGY
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. AVERAGE PRICING ANALYSIS
5. MACRO-ECONOMIC INDICATORS
6. MARKET DYNAMICS
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. CORRELATION & REGRESSION ANALYSIS
7.1. Correlation Matrix
7.2. Regression Matrix
8. RECENT DEVELOPMENT, POLICIES & REGULATORY LANDSCAPE
9. RISK ANALYSIS
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. GLOBAL PAINTS AND COATINGS MARKET ANALYSIS
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. GLOBAL PAINTS AND COATINGS MARKET
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. GLOBAL PAINTS AND COATINGS MARKET: MARKET SEGMENTATION
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Resin: Market Share (2020-2030F)
12.2.1. Acrylic, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Alkyd, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Epoxy, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.4. Polyurethane, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.5. Polyester, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.6. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Technology: Market Share (2020-2030F)
12.3.1. Waterborne, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Solvent borne, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Powder, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.4. others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4. By Application: Market Share (2020-2030F)
12.4.1. Architectural, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.2. Industrial, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13. COMPANY PROFILE
14. PPG INDUSTRIES
14.1. Company Overview
14.2. Company Total Revenue (Financials)
14.3. Market Potential
14.4. Global Presence
14.5. Key Performance Indicators
14.6. SWOT Analysis
14.7. Product Launch
15. AKZO NOBEL NV
16. ASIAN PAINTS LTD.
17. AXALTA COATING SYSTEMS
18. BASF SE
19. BERGER PAINTS INDIA LTD.
20. DIAMOND VOGEL PAINTS
21. DOW INC.
22. HEMPEL A/S
23. JOTUN A/S
24. KANSAI PAINT CO., LTD.
25. KCC CORPORATION
26. OTHER PROMINENT PLAYERS
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
2. GLOBAL PAINTS AND COATINGS MARKET
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. RESEARCH METHODOLOGY
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. AVERAGE PRICING ANALYSIS
5. MACRO-ECONOMIC INDICATORS
6. MARKET DYNAMICS
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. CORRELATION & REGRESSION ANALYSIS
7.1. Correlation Matrix
7.2. Regression Matrix
8. RECENT DEVELOPMENT, POLICIES & REGULATORY LANDSCAPE
9. RISK ANALYSIS
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. GLOBAL PAINTS AND COATINGS MARKET ANALYSIS
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. GLOBAL PAINTS AND COATINGS MARKET
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. GLOBAL PAINTS AND COATINGS MARKET: MARKET SEGMENTATION
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Resin: Market Share (2020-2030F)
12.2.1. Acrylic, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Alkyd, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Epoxy, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.4. Polyurethane, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.5. Polyester, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.6. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Technology: Market Share (2020-2030F)
12.3.1. Waterborne, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Solvent borne, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Powder, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.4. others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4. By Application: Market Share (2020-2030F)
12.4.1. Architectural, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.2. Industrial, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13. COMPANY PROFILE
14. PPG INDUSTRIES
14.1. Company Overview
14.2. Company Total Revenue (Financials)
14.3. Market Potential
14.4. Global Presence
14.5. Key Performance Indicators
14.6. SWOT Analysis
14.7. Product Launch
15. AKZO NOBEL NV
16. ASIAN PAINTS LTD.
17. AXALTA COATING SYSTEMS
18. BASF SE
19. BERGER PAINTS INDIA LTD.
20. DIAMOND VOGEL PAINTS
21. DOW INC.
22. HEMPEL A/S
23. JOTUN A/S
24. KANSAI PAINT CO., LTD.
25. KCC CORPORATION
26. OTHER PROMINENT PLAYERS
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
