The global demand for Paints Coatings Market is presumed to reach the market size of nearly USD 391.82 MN by 2028 from USD 272.96 MN in 2021 with a CAGR of 5.3% under the study period 2022 - 2028.
Paints coatings are materials that are applied to a surface to adorn and protect it. Paints and coatings are commonly used for ornamental purposes. They improve the surface's durability and aesthetic appeal when applied for decorative reasons. They protect the surface from climatic conditions, weathering, rust, and chemical resistance, among other things. The term ""paint and coating"" refers to a covering that is commonly applied to the surface of various items to protect the surface from oxidation and sunlight exposure. This covering also helps increase the object's endurance and is used for functional and cosmetic purposes. Paints and coatings conceal flaws and blemishes on a surface.
The paints coatings market is being driven by rising demand from various end-use sectors, including marine, aerospace, transportation, wood coatings, and packaging. The increase in residential and commercial projects worldwide is one of the key drivers driving the paints and coatings industry's growth. The market is expected to rise due to increased product consumption in automotive and construction, among other industrial applications, due to growing urbanization and industrialization in rising nations. Anticorrosive protection, low-VOC content coats, and nanocoatings are some of the current market developments. These technological breakthroughs, and the launch of new items, are predicted to boost future growth. The market is also positively influenced by public sector activities such as implementing environmental rules to increase demand for VOC-free coatings and the rise in popularity of elastomeric coatings in tilt-up concrete in the building and construction sectors. On the other hand, the market is projected to be hampered by the necessity for extended drying times for aqueous coatings and difficulty generating thin layers in powder coating.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of paints coatings. The growth and trends of paints coatings industry provide a holistic approach to this study.
This section of the paints coatings market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Paints Coatings market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Paints Coatings Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the paints coatings market include Jotun, Sika, BASF, Akzo Nobel N.V., Valspar, Axalta, PPG Industries, Inc., Renner Coatings, Sherwin-Williams. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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