Research Nester has recently announced its latest research on The global paints and coatings market is segmented by technology into water-based, solvent-based, high solids, powder and others; by resin type into polyurethanes, acrylic, polyesters, epoxy, alkyd and others; by application into industrial and architectural and by regions. The paints and coatings market is anticipated to mask a CAGR of 5.3% during the forecast period i.e. 2019-2027.
The growing demand for paints and coatingscan be attributed to rising per capita income of the increasing population across the globe. Rapid industrialization and commercialization accompanied with increasing number of various-end-user industries is estimated to impact the growth of the market positively during the forecast period. Increasing use of metals since the past decade and growing advancements to make metals corrosion-resistant as well as to provide UV resistance to some types of metals and materials will further boost the market shares across the globe.
North America is expected to hold the highest shares in the overall paints and coatings market on the back of presence of bigger market players across the region. Asia Pacific is anticipated to follow North America and display the highest growth on the back of widespread urbanization in the region along with massive infrastructure developments across the countries such as, India, China, Malaysia and others during the forecast period. Europe is attributed to induce a positive growth in the market on account of steady demand for paints and coatings in marine and defense sector.
Expanding Commercial as well as Residential Construction Sector
The rise in building and construction industry on the back of increasing urbanization has accentuated the demand for paints and coating for architectural applications which is expected to drive the market considerably over the forecast period. Additionally, worldwide use of paints and coatings in metallic construction structures to prevent corrosion is estimated to propel their demand in construction sector. Moreover, increasing commercial constructions across the developing economies around the world is estimated to expand the market substantially in upcoming years.
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However, fluctuating prices will serve as a major restraint factor in the growth of paints and coatings market.
The report titled “Global Paints and Coatings Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global paints and coatings market in terms of market segmentation by technology, by resin type, by application and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global paints and coatings market which includes company profiling of BASF Coatings GmbH, PPG Industries Inc., Akzo Nobel NV, Sherwin Williams, RPM International, Nippon Paints, Axalta Coatings Systems, Asian Paints, Kansai Paints, Jotun A/S and Other Prominent Players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global paints and coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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