Paints and coatings are decorative finishes, which are used to apply the surface of an object to protect the surface from sunlight, oxidation, and enhance the durability of the object life. They are also used for decoration and functional purpose. They are extensively used in construction, wood, and other industries.
According to study, “Global
Paints & Coatings Market: Market Segments: By Resin Type (Acrylic,
Polyester, Polyurethane, Epoxy);By Formulation (Water-Based, Solvent-Based,
Powder Coatings, UV Coatings); By Application (Architectural & Decorative,
Industrial, Marine)and Region – Analysis of Market Size, Share & Trends for
2014 – 2019 and Forecasts to 2030” the key companies operating in
the global paints & coatings market are PPG Industries, Akzo Nobel N.V,
Valspar, Nippon Paint Holdings, KCC Corporation, Asian Paints Limited, Jotun
A/S, BASF SE, RPM International Inc., Kansai Paints Co. Ltd., Berger Paints
India Ltd., Masco Corporation, Kc Corporation Ltd, Fujikura Kasei Co. Ltd.,
Noroo Paint Co. LTD., The Sherwin-Williams Company, Axalta Coating Systems.
Based on resin type, paints
& coatings market is segmented as polyurethane, vinyl, acrylic,
saturated polyester, unsaturated polyester, alkyd, epoxy, amino and others.
Acrylic resin holds major share in global market as it has various properties
such as adhesion, flexibility, drying rate and relative resistance properties.
Based on technology, market is segmented as powder coatings, solvent-borne
coatings, waterborne coatings and others (radiation curable coatings and high
solids coatings). Waterborne segment dominates the market owing to rise in use
of waterborne paints & coating in furniture, automotive, wood, plastic and
printed ink industries. Based on application, market is segmented as general
industrial coatings, architectural coatings, automotive coatings, packaging
coatings, wood coatings, marine & protective coatings, and others (aerospace,
coil and graphic arts). In addition, based on end-use industry, market is
segmented as industrial (automotive refinish, protective, marine, wood,
automotive OEM, general industrial, aerospace, coil, rail, packaging and
others), architectural, and others. Architectural segment is estimated to
exhibit substantial growth rate due to increase in residential and
non-residential construction during the forecast period.
Based on geography, the Asian-Pacific is a leading region in global paints and coatings market owing
to increase in construction activities and rise in demand from the automotive
sector in the region. The North-American and European regions are estimated to
witness higher growth rate due to growth in adoption of the latest technologies
couples with rise in disposable income overt the forecast period. It is
anticipated that future of the global market will be optimistic as a result of
rise in consolidation of used vehicles during the forecast period. The global
paints & coatings market to surpass US $268.21 million by 2030 from US
$161.6 million in 2018 at a CAGR of 5.33% during the forecast period 2019-2030.
For More Information, refer to below link:-
Global
Paints & Coatings Market
Related
Report:-
Global
Architectural Paints & Coatings Market 2020 by Manufacturers, Regions, Type
and Application, Forecast to 2025
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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