Global Paints And Coatings Market Trends And Strategies Of Major Players In The Paints And Coatings Market 2021-2030
4 Mar, 2021
The paints and coatings market consists of the sales of paints and coating by entities (organizations, sole traders or partnerships) that mix pigments, solvents, and binders into paints and other coatings, such as stains, varnishes, lacquers, enamels, shellacs, and water-repellent coatings for concrete and masonry, and/or produce allied paint products, such as putties, paint and varnish removers, paint brush cleaners, and frit.
Global Paints And Coatings Market Size And Drivers:
The global paints and coatings market is expected to grow from $199.87 billion in 2020 to $216.9 billion in 2021 at a compound annual growth rate (CAGR) of 8.5%. The market is expected to reach $258.45 billion in 2025 at a CAGR of 4%. There is a rapid growth in consumption of paints and coatings in many industries. Paints and coatings are widely used in the automotive, construction and manufacturing industries.
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Trends In The Global Paints And Coatings Market
Biocides are being used in paints to enhance their longevity and to maintain their quality. Biocide additives have been designed to protect paints from getting damaged during storage or to keep fungi and algae from growing on the applied paints. The market for biocides in paints will continue to grow due to the switch from solvent based to water based paints as they are not hazardous for human health and environment, and minimize fungal and algae growth. However, replacement of traditional biocides based on chlorine and formaldehyde with environmentally friendly biocides add to the costs of paint production.
Global Paints And Coatings Market Segments:
The global paints and coatings market is further segmented based on type, application, type of resin, performance range and geography.
By Type:Water Borne Coatings, Solvent Based Coatings, Powder Coatings, Other Paints And Coatings
By Application:Architectural, Automotive, Wood, Packaging, Aerospace, Others
By Application:Food, Beverages, Intermediate Products, Condiments, Other
By Type of Resin:Acrylic, Polyurethanes, Polyesters, Epoxy, Alkyd, Others
By Performance Range:Commodity Coating Range, Engineering Coating Range, High-Performance Coating Range
By Geography:The global paints and coatings market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global paints and coatings market, accounting for 55% of the total market.
Read More On The Report For The Global Paints And Coatings Market At:https://www.thebusinessresearchcompany.com/report/paints-and-coatings-global-market-report-2020-30-covid-19-impact-and-recovery
Paints And Coatings Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides paints and coatings market overviews, analyzes and forecasts market size and growth for the global paints and coatings market, paints and coatings market share, paints and coatings market players, paints and coatings market segments and geographies, paints and coatings market’s leading competitors’ revenues, profiles and market shares. The paints and coatings market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.