The latest research study “Paints and Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global paints and coatingsmarket size reached US$ 158.54 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 220.47 Billion by 2027, exhibiting a growth rate (CAGR) of 5.40% during 2022-2027.
Paints represent pigmented liquids used to improve the aesthetics of the substrate, whereas coatings enhance surface properties and prevent substrate deterioration. Some of the commonly available product variants include waterborne, powder, high solids, radiation curing, solvent-borne coatings, etc. Paints are widely utilized in decorating industrial equipment, residential and non-residential infrastructures, buildings, etc. Paints and coatings exhibit anti-fouling, flame retardancy, and anti-microbial properties. They preserve the surface from adverse environmental situations, weathering, rust, chemical exposure, etc. As a result, paints and coatings find extensive applications across the marine, construction, automobile, and transportation sectors.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Paints and Coatings Market Trends and Drivers:
The growing infrastructural development activities are primarily augmenting the paints and coatings market. Additionally, the increasing consumer environmental consciousness and the escalating demand for waterborne and powder-based coatings are further catalyzing the market growth. Besides this, the rising utilization of paints and coatings on panels, windows, walls, roofs, door frames, and interior extrusions for protection, decoration, aesthetics, etc., is acting as another significant growth-inducing factor. Moreover, they are adopted in the automotive sector, owing to their color stability, protective film formation, corrosion, abrasion and scratch resistance, flexibility, durability, etc., which is positively influencing the global market. Apart from this, the introduction of volatile organic compounds (VOC) free, block resistant, organic paints and coatings that are manufactured by using natural ingredients, such as lemon peel extract, seed, clay, vegetable, and soybean oil, is also stimulating the market growth. Furthermore, continuous investments in renovation activities are expected to fuel the paints and coatings market in the coming years.
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Paints and Coatings Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Akzo Nobel N.V., Asian Paints Ltd., Axalta Coating Systems Ltd., Berger Paints India Limited, Indigo Paints Limited, Jotun A/S, Kansai Paint Co. Ltd., National Paints Factories Co. Ltd., PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company and Tiger Coatings GmbH & Co. KG.
The report has segmented the market on the basis of product, material and application.
Breakup by Product:
- Waterborne Coatings
- Solvent-borne Coatings
- Powder Coatings
- High Solids/Radiation Curing
- Others
Breakup by Material:
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
Breakup by Application:
- Architectural and Decorative
- Non-Architectural
- Automotive and Transportation
- Wood
- General Industrial
- Marine
- Protective
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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