DUBLIN--(BUSINESS WIRE)--The "Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural [Residential, Non-residential], Industrial), and Region - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.
The market size of paints & coatings is projected to grow from USD 147.24 billion in 2018 to USD 199.88 billion by 2024, at a CAGR of 5.4%, during the forecast period.
The key companies profiled in this report are the AkzoNobel N.V. (Netherlands), PPG Industries (US), The Sherwin-Williams Company (US), Nippon Paint Holding Co LTD (Japan), Axalta Coatings System LLC (US).
The paints and coatings market is projected to register a CAGR of 5.4%, in terms of value, between 2019 and 2024
The increasing urban population is a significant factor for the rising demand for building and construction, automotive, packaging. However, stringent government regulations in the paints and coatings industry are hampering the growth of the solvent-borne coatings market.
The waterborne technology segment is expected to hold the largest share of the overall paints and coatings market during the forecast period
The waterborne technology segment accounted for the largest share of the overall paints and coatings market in 2018. Waterborne paints and coatings are used majorly in architectural applications and are also used in automotive, general industrial, protective, wood, marine, packaging, coil, and other industries, due to their low toxicity and flammability. The waterborne segment is expected to grow on the backbone of the building and construction industry, which is anticipated to witness good growth, mainly in the developing countries.
The paints and coatings market in the architectural end-use industry is expected to witness the highest CAGR during the forecast period
Architectural paints & coatings, also known as decorative paints & coatings or building paints, are applied on the interior and exterior walls of all kinds of residential, commercial, industrial, and institutional buildings. Architectural coatings also find application in decorative interiors such as wall paintings, wood flooring, sculptures, and furniture. Increase in environmental awareness has led to innovations in the coating industry to provide affordable quality products, of high quality, possess value-added features, and meet global trends.
APAC paints and coatings market is estimated to register the highest CAGR during the forecast period
The APAC paints and coatings market is segmented into China, Japan, India, Indonesia, Thailand, and Rest of APAC. The APAC region is a lucrative market for paints and coatings owing to the increasing demand from industrial applications and improving economic conditions. Product innovations, new research and development projects, and increasing demand from various end-use industries have also fueled the demand for paints and coatings in APAC.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities
4.2 Paints & Coatings Market, By Application
4.3 Paints & Coatings Market: Developed vs Developing Nations
4.4 APAC: Paints & Coatings Market, By Technology and Country
4.5 Paints & Coatings Market Attractiveness
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Green Environmental Regulations
220.127.116.11 Provision of Durable Coatings With Better Performance and Aesthetics
18.104.22.168 Growing Popularity of Elastomeric Coating in Tilt-Up Concrete in Building & Construction
22.214.171.124 Increasing Demand From End-Use Industries
126.96.36.199 Difficulty in Obtaining Thin Films in Powder Coating
188.8.131.52 Requirement of More Drying Time for Waterborne Coatings
184.108.40.206 Difficulty in Transportation of Coil Coatings in the Developing Countries
220.127.116.11 Increasing Applications of Fluoropolymer in the Building & Construction Industry
18.104.22.168 Attractive Prospects for Powder Coatings in Shipbuilding and Pipeline Industries
22.214.171.124 Stringent and Regulatory Policies
126.96.36.199 Environmental Challenges With Respect to Wastewater Discharge
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
6 Paints & Coatings Market, By Resin Type
7 Paints & Coatings Market Analysis, By Technology
8 Paints & Coatings Market, By Application
8.2 Architectural Application
188.8.131.52 New Construction
184.108.40.206 Remodel and Repaint
8.3 Industrial Application
8.3.1 General Industrial
8.3.3 Automotive Refinish
8.3.4 Automotive OEM
8.3.5 Industrial Wood
9 Paints & Coatings Market, By Region
9.2 Asia Pacific (APAC)
9.4 North America
9.5 Middle East & Africa
9.6 South America
10 Competitive Landscape
10.2 Dive Analysis for Paints & Coatings
10.3 Competitive Benchmarking
10.3.1 Product Offerings
10.3.2 Business Strategy
11 Company Profiles
11.1 Akzonobel N.V.
11.2 PPG Industries
11.3 Sherwin-Williams Company
11.4 Axalta Coating System LLC
11.5 Jotun A/S
11.6 Nippon Paint Holdings Co. Ltd.
11.7 Asian Paints Limited
11.8 Kansai Paints Co. Ltd.
11.9 RPM International Inc
11.10 Valspar Corporation
11.11 Tikkurila OYJ
11.12 Hempel A/S
11.13 Berger Paints India Limited
11.14 Shalimar Paints
11.15 S K Kaken Co. Ltd.
11.16 Masco Corporation
11.17 Beckers Group
11.18 Dunn-Edwards Corporation
11.19 Tiger Coatings GmbH & Co. KG
11.20 Sacal International Group Ltd.
11.21 Diamond Vogel Paints
11.22 Vista Paints Corporation
11.23 Indigo Paints Pvt. Ltd.
11.24 Kelly-Moore Paints
11.25 BASF Coatings GmbH
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