Paints and coatings act as shields that protect products from wear and tear during their life span. They also give a new texture and look to the products along with an increased shelf life. They protect the products from rusting which makes them resistant to almost all climatic conditions, irrespective of geographic locations. The global demand for the paints and coatings market is expected to rise by approximately 5 percent annually and this is mainly fuelled by the Asia-Pacific region. The growing construction industry in China and India is the major market share holder in the Asia-Pacific region. The paints and coating market is divided in four major segments - high solids/radiation cure, powder coating, waterborne coating, and solventborne technologies.
There is a global shift in the market for paint and coatings that is moving more towards emerging nations than the developed ones. The hidden potential in the emerging nations is the primary driving factor for the market. The advent of new technologies that have growing applications also proves beneficial to the market. The growing demand for the painting and coating products from emerging economies is fuelling the growth of the market. The growth depends on numerous factors, some of which include the construction industry, which is the primary driving force.
The impending regulations in context of the inclusion of hazardous chemicals that cause gene mutation are posing a threat to the market, restraining it on a global scale. Greenpeace and the EPA have implemented certain regulations, limiting the quantity of lead content in paints and coatings products, which has reduced some of the beneficial properties of these products.
Some of the leading players in this market are AkzoNobel, PPG, DuPont, BASF, Valspar, Kansai, Nippon, Jotun, Sika, Henkel, Sherwin-Williams, and Asian Paints.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include:
Rest of the World.
This report provides comprehensive analysis of:
Market growth drivers
Factors limiting market growth
Current market trends
Market projections for upcoming years.
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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