San Francisco,11
October 2018: The global paints
and coatings market is
anticipated to exceed USD 227.70 billion by 2025, according to a new report by
Grand View Research, Inc. The global market is anticipated to achieve moderate
growth over the forecast period. The demand of these products globally is
expected to increase owing to growth of applications from end-use industries,
architecture segment, regional demand, changing consumer preference for bio
based products and technological advancements.
Increasing applications from end-use
industries such as aerospace, automotive, general industries, marine and wood
have augmented the growth of the market. Architectural sector is the other
parameter that has majorly driven the global industry. The growth of
architectural coats is attributed to growing construction spending in emerging
regions.
The industry is a highly regulated industry
due to presence of volatile organic compounds in these products which are
harmful for the environment. However, the industry has witnessed a huge shift
towards green and bio-based products in the form of powder based and waterborne
formulations.
Waterborne coatings were the largest
product segment in 2016 with demand of over 17.0 kilo tons in 2016 and is
expected grow substantially over the forecast period owing to increasing demand
from several application segments including construction, furniture and
automobile industries. Product demand is anticipated to increase owing to
increased construction spending and consumer preference especially in developed
nations of Asia Pacific region for eco-friendly formulations.
Access
Research Report of Paints & Coatings
Market@ www.grandviewresearch.com/industry-analysis/paints-coatings-market
Further key findings from the report suggest:
· Global paints and coatings demand was 45.40
million tons in 2016 and is expected to grow with a CAGR of around 4.2% to
reach a total volume of 65.81 million tons by 2025
· Polyurethane is projected to be the fastest
growing material segment in the industry
· Architectural segment was the largest
end-use segment however it is expected to grow moderately over he forecast
period
· General industrial sector is expected to
emerge as the largest non-architectural end-use segment by 2025
· The market in Central and South America is
anticipated to grow at a CAGR of over 5% from 2017 to 2025
· Technological advancements attributing to
the growth of coats & vanishes include products manufactured by Nano
technology and Fluro-additives. These innovative products provide enhanced
application outcomes due to their excellent properties and enhanced tolerance
levels towards weather-ability as compared to other conventional counterparts.
· Major global players operating in the
industry include BASF SE, PPG Industries, Sherwin-Williams Company, AkzoNobel,
Axalta Coating System, Valspar Corporation, Kansai Paint, RPM International
Inc., Nippon Paint Holdings, and Jotun Group
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the
global paints and coatings market on the basis of application:
Paints & Coatings Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
High solids/radiation curing
·
Powder coatings
·
Waterborne coatings
·
Solvent-borne coatings
·
Others
Paints & Coatings Material Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Acrylic
·
Alkyd
·
Polyurethane
·
Epoxy
·
Polyesters
·
Others
Paints & Coatings Application Type
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Architectural & Decorative
·
Non-architectural
Paints & Coatings Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America (CSA)
·
Middle East & Africa (MEA)
Access Press Release of
Paints & Coatings Market@ www.grandviewresearch.com/press-release/global-paints-coatings-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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