The paints & coatings are materials with properties for instance wettability, adhesion, and corrosion resistance that are applied to the surface in order to protect it from rusting, corrosion, and erosion that can lead to surface spoilage. Paints & coatings are used in gamut of industries that include construction, real estate, automotive, and others. The paints can be decorative or protective based on application and the impact of external factors on the surface.
Referring 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”
some of the key companies that are currently working in the global paints &
coatings market are Akzo Nobel NV, Berger Paints India Ltd., Asian Paints Ltd.,
Diamond Vogel Paints, Axalta Coating Systems, Kansai Paint Co., Ltd., BASF SE,
Nippon Paint Holdings Co., Ltd., Dow Inc., The Sherwin-Williams Company, Hempel
A/S, Wilh. Becker Holding GmbH, Jotun A/S, The Valspar Corporation, KCC
Corporation, PPG Industries, Inc., Masco Corporation, Tikkurila Oyj. Key players
focus on mergers & acquisitions (M&A), infrastructural development, expansion
of their manufacturing facilities, investments in Research & Development (R&D)
facilities, and are looking for opportunities to vertically integrate across
the value chain. These initiatives assist them cater to the increasing global
demand, enhance sales & operations planning, ensure competitive
effectiveness, develop innovative products & technologies, expand customer
base and lower the production costs.
Based on type, paints & coatings market is segmented as solvent
based coatings, water borne coatings, powder coatings and others. The solvent
based coating segment dominates the market owing to stringent regulations
concerning products with high VOC content. Based on type, of resin, market is
segmented as polyurethanes, epoxy, polyesters, acrylic, alkyd and others. The
acrylic segment is estimated to witness higher growth rate due to its excellent
stabilization and weathering properties of acrylic products during the forecast
period. Based on performance range, market is segmented as engineering coating
range, commodity coating range and high-performance coating range. In addition,
based on application, market is segmented as automotive, architectural,
packaging, wood, aerospace and others. Architectural segment is further sub-segmented
as residential, non-residential and infrastructure.
Based on geography, the Asian-Pacific region holds major share in
global paints & coatings market owing to increase in consumer disposable
income that helps in augmenting the spending power in the region. The European
and North-American regions are estimated to witness higher growth rate due to
vast population and presence of key players over the forecast period. It is
expected that the global paints & coatings market will be reached at US $268.21
million by 2030 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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