A new research report published by Transparency Market Research states that the global paints and coatings market is set to grow at a rapid pace due to the burgeoning construction industry. The report, titled “Paints and Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, offers a fresh perspective on the global paints and coatings market through the lens of expert industry analysts.
According to the research report, the global paints and coatings market was valued at US$100.3 bn in 2012 and is expected to reach US$143.9 bn by 2019, growing at a CAGR of 5.40% from 2013 to 2019. The steady rise of the global paints and coatings market is mainly attributable to the growing demand from the building and construction industry. This market is also being propelled by the accelerating demand for waterborne coatings in the past few years. In addition to this, the rise in manufacturing activities in Asia Pacific is also driving the global paints and coatings market.
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The only restraint on the global paints and coatings market is the growing environmental concern pertaining to the VOC content in paints and coatings. However, in the coming years, the increasing share of green coatings and nanocoatings is expected to provide a lucrative opportunity to the global paints and coatings market. Furthermore, this market will also grow due to the strengthening paints and coatings market in the Middle East and North Africa in the coming few years.
The global paints and coatings market is segmented on the basis of product, end-use industry, and region. The products in the global paints and coatings market are high solids/radiation cured, powder coating, solvent-borne technologies, waterborne coating, and others such as specialty coatings. The end-use segments of the global paints and coatings market are medical and healthcare, automotive and aviation, residential, commercial, and others such as special purpose. Geographically, this market is segmented into Europe, Asia Pacific, North America, and Rest of the World.
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Out of all the products, the waterborne coatings segment held a dominant share of about 40% in the global paints and coatings market in 2012. The solvent borne technologies, which were a close second in the race, is expected to experience a decline in the near future due to strict regulations pertaining to VOCs. The powder coatings segment is expected to grow at a rapid pace in the coming few years due to the increasing demand from the electronics, construction, and automotive sectors.
Some of the key players profiled in this research report are AkzoNobel N.V., PPG Industries, Sherwin-Williams Company, BASF SE, Axalta Coatings System, and RPG International Inc. The research report explains the competitive landscape of the global paints and coatings market along with studying the company profile, financial overview, research and development strategies, product portfolio, and marketing and business strategies.
The market has been segmented as below:
Paints and Coatings Market: Product Segment Analysis
- High solids/radiation cure
- Powder coating
- Waterborne coating
- Solvent-borne technologies
- Others (including specialty coatings, etc.)
Paints and Coatings Market: End-user Analysis
- Automotives & aviation
- Medical & healthcare
- Others (including other industries, special purpose, etc.)
Paints and Coatings Market: Regional Analysis
- North America
- Rest of the World
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