Global Desiccants Market

Petrochemicals Market Definition

The petrochemicals market consists of the sales of petrochemicals by entities (organizations, sole traders or partnerships) that produce acyclic (i.e., aliphatic) hydrocarbons such as ethylene, propylene, and butylene made from refined petroleum or liquid hydrocarbons and/or produce cyclic aromatic hydrocarbons such as benzene, toluene, styrene, xylene, ethyl benzene, and cumene made from refined petroleum or liquid hydrocarbons. Petrochemicals are chemical products derived from petroleum. They are also called petroleum distillates. Some of the same chemical compounds as petrochemicals are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as corn or sugar cane, but these are not included in the petrochemicals industry.

The disinfectants market consists of sales of the chemical solutions that kill microorganisms and prevent infectious diseases. Disinfectant in general refers to a chemical agent that is used to kill all recognized pathogenic microorganisms on inanimate objects on the surface of floors, tiles, washrooms, furniture and instrument. The global disinfectants market is expected grow from $0.66 billion in 2020 to $0.84 billion in 2021 at a compound annual growth rate (CAGR) of 27.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.42 billion in 2025 at a CAGR of 14%. Rising occurrence of hospital-acquired infections increased spending on disinfectant solutions globally and this factor contributed to the global disinfectant market's growth. Patients sometimes get cured in hospitals but however get infected by other diseases in hospitals itself, this is called Hospital-acquired infections (HAI). According to the world health organization (WHO), in Europe, nearly 41.31 lakhs patients are infected by approximately 45.441 lakhs episodes of healthcare-associated infections every year. The increase in safety towards patients in hospitals has boosted the spending on disinfecting solutions which resulted in the growth of the disinfectant market. A saturated market of developed economies is expected to limit the growth of the disinfectant market. In recent years, the developed countries are using the same quantity of disinfectant solutions as previous years. Due to the stabilized consumption, the growth rate in developed markets is expected to decline when compared to the growth of disinfectants in the emerging market. Inadequate change in the market hampers the disinfectant market. Disinfectant service providers are using the drone to spray the disinfectant solutions without using humans to reduce the spread of infection from the contaminated area. In China, several drone manufacturer has modified their agricultural drone models, which were originally intended to spray crops with pesticides, to spray disinfectant. Over large areas can be disinfected with ease and effective way. In March 2019, Innovative chemical products acquired Benefect for an undisclosed amount. The acquisition is expected to strength the ICP BSG's family. Benefect is founded in year 2006 and leading supplier of hospital disinfectant using essential oils from plants. The major players covered in the global disinfectants market are 3M Company, Johnson & Johnson, Reckitt Benckiser Group PLC, Bio-Cide International Inc., Cardinal Health, Steris Corporation, Procter & Gamble, Kimberly-Clark Corporation, Novartis AG, BD, Abc Compounding, Advanced Sterilization Products, American Biotech Labs, Angelini Pharma Inc., Becton, Dickinson And Company, Nufarm Limited and Carefusion Corp, Cantel Medical, The Clorox Company, Ecolab, Diversey, Inc, CarroLLClean, Whiteley Corporation, Gojo Industries, Inc. The countries covered in the global disinfectants market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global disinfectants market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global disinfectants market is segmented - 1) By Type: Quaternary Ammonium Compounds, Peracetic Acid, Chlorine Compounds, Hydrogen Peroxide, Alcohols & Aldehyde Products, Others 2) By End User: Hospitals, Clinics, Domestic Users, Others 3) By Form: Liquid, Sprays

The ethyl alcohol market consists of sales of ethyl alcohol and related services. Ethyl alcohol is used as a solvent in the synthesis of other organic chemicals, as an ingredient in alcoholic beverages like beer, wine or brandy, and as a gasoline additive in the automotive industry. Ethyl alcohol also known as ethanol or grain alcohol is a volatile, flammable, colourless liquid industrially used as a chemical intermediate to make pharmaceutical ingredients or as a solvent. The global ethyl alcohol market is expected to grow from $457.43 billion in 2020 to $489.49 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $585.47 billion in 2025 at a CAGR of 5%. The ethyl alcohol market covered in this report is segmented by end use industry into automotive, food and beverages, pharmaceutical, personal care, others. Rising demand for ethanol in the food processing industry is contributing to the growth of the ethyl alcohol market. It is used as an intoxicating ingredient in manufacturing alcoholic and non-alcoholic beverages such as vodka and gin. Additionally, ethyl alcohol is also used as a natural product in non-alcoholic beverages. Due to increased ready-to-eat, frozen and packaged foods, the food processing industry is growing significantly. As a result, the demand from the food processing industry has also increased due to growing population through new births and migrations, which further increases the industry's production and demand for ethanol. The demand for ethanol in the food processing industry will lead to the expansion of the global market for ethyl alcohol. For example, in India, the ethanol market is expected to grow from $2.50 billion in 2018 to $7.38 billion by 2024, at a CAGR of 14.50% due to ethanol use in applications such as food and beverages. Rising demand for ethanol in food processing industry is expected to boost the demand for ethyl alcohol during the forecast period, driving the market. The rise in awareness about ill effects of alcohol consumption is expected to limit the growth of the ethyl alcohol market. According to a study by World Health Organization (WHO), alcohol consumption is responsible for more than 200 diseases and injury conditions. It possesses risks of health problems such as mental and behavioural disorders, diseases such as liver cirrhosis, cardiovascular diseases and injuries from road accidents. With rising awareness of effects of alcohol consumption on global health, the demand for information on consumption and its related harm and policies, has risen significantly. For example, in 2020, according to the Journal of Studies, alcohol awareness in the Yukon increased to 42%, a 10% rise in awareness due to warning labels on alcohol bottles and drugs. This is bound to negatively impact the market. Companies are increasingly producing ethanol from corn and sugar in the ethyl alcohol market. Ethanol is produced from corn by dry milling process. In this process, corn kernel is prepared into flour or mash, which is then mixed with water. It is purified through distillation and dehydration to create ethanol. The rising demand for liquid fuels in the transportation industry, global rising demand for oil, and negative consequences of global warming have contributed to the increased use of corn-based sugar to produce ethanol, thereby reducing global warming gases. It can be used in many of today's passenger cars and trucks as a substitute for burning gasoline. The US Department of Agriculture (USDA) predicts that during the 2020-21 crop season, 5.2 billion hectares of corn will go to ethanol generation, up 250 million hectares compared to the approximate amount of corn which moved to ethanol processing during the 2019-20 crop season. Additionally, the U.S and Brazil produce 85% of the global ethanol from corn. Production of ethanol from corn helps in reducing greenhouse gases by 18% and production of ethanol from sugar helps in reducing greenhouse gases by 90%. Production of ethanol from corn and sugar offers several advantages such as reduced greenhouse gases and decreases the dependency of foreign oil. In October 2019, The Andersons, Inc., a USA-based company specialized in agriculture, grain, rail, plant nutrients, and ethanol merged with Marathon Petroleum Corp. to form a new entity, The Andersons Marathon Holdings LLC. The merger is expected to enhance and broaden the ethyl alcohol facilities. The ethyl alcohol facilities in the merger include those in Albion, Mich, Clymers, Ind, and Greenville, Ohio. Marathon Petroleum Corp. is a USA-based petroleum refining company that specializes in refining, supplying, marketing, and transporting petroleum products. The major players covered in the global ethyl alcohol market are Advanced Bioenergy LLC, Andersons Ethanol Group, Archer Daniels Midland Company, Aventine Renewable Energy, Braskem, British Petroleum, Cargill Corporation, Green Plains Inc., Kirin Holding Company, LyondellBasell Industries NV, Mitsubishi Chemical Corporation, Pacific Ethanol Inc., SABIC, Sasol Limited, POET, Solvay Group, Valero, INEOS Group Holdings SA, Merck Millipore (U.S.). The countries covered in the global ethyl alcohol market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global ethyl alcohol market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global ethyl alcohol market is segmented - 1) By Type: Synthetic, Fermented 2) By Application: Industrial Solvent, Fuel/Fuel Additive, Bacteriacide/Disinfectant, Beverages, Personal Care, Other Applications 3) By End Use Industry: Automotive, Food and Beverages, Pharmaceutical, Personal Care, Others

The silicone market consists of sales of silicone and related services for usage in the manufacturing of lubricants and synthetic rubber. They are characterized by thermal stability, hydrophobic nature and physiological inertness. Silicone (except resins) are widely used in the medical industry to manufacture surgical implants and dental impression materials. The global silicone (except resins) market is expected to grow from $102.38 billion in 2020 to $117.47 billion in 2021 at a compound annual growth rate (CAGR) of 14.7%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $135.83 billion in 2025 at a CAGR of 4%. The silicone market covered in this report is segmented by product into elastomers, fluids, gels, others. Rising demand of silicone in different industries is expected to propel the silicone market. Silicone materials are being extensively used in industries such as construction, transportation, electrical & electronics, textiles and personal care and pharmaceuticals. Silicone materials such as silicone sealants, adhesives and a coatings have major applications in construction. Also, in electronics sector, silicon is used to provide high thermal stability and resistance to weathering, ozone, moisture, and UV radiation in electronic products. Rising prices of raw materials adding to the manufacturing costs is expected to restraint the growth of the silicone market. The low availability of raw silicone resulting from the shutting down of the manufacturing facilities is considered to be an important factor affecting the prices of the silicone materials. The shutdown of silicone production facilities in Germany, USA, and China due to different environmental factors and government sustainable policies disrupted the supply of silicone in recent years. This has increased pressure on the manufacturers to raise the prices of silicone materials. For instance, In October 2018, Wacker Chemie A.G. will raise prices for silicone rubber in its Europe, Middle East, and South America regions by up to 40 percent, if allowed by customer contracts. Therefore, fluctuations in the prices of raw materials is expected to hamper the silicone market growth. The increasing demand for green chemicals is driving the growth of the silicone market. The increasing stress on the use of environmentally friendly materials is positively effecting the silicone market. Silicone products are regarded as environmental friendly and durable than that of the plastic products. For instance, in 2019, as per The Canadian Health Department reports on its website, stated that there are no health risks associated with the use of silicon cookware instead of plastic cookware. In 2019, Elkem ASA, a Norway based leading silicone manufacturer, acquired Basel Chemie Co., Ltd for an undisclosed amount. Acquisition of Basel Chemie Co., Ltd was aimed to strengthen Elkem ASA’s silicone gel manufacturing capabilities. Basel Chemie Co., Ltd. is a South Korea based company that specializes in manufacturing silicone gels for its use in cosmetics and water repellents. The major players covered in the global silicone (except resins) market are Wacker-Chemie GmbH, CSL Silicones, Specialty Silicone Products Incorporated, Evonik Industries AG, Kaneka Corporation, Dow Corning Corporation, Momentive, Elkem ASA, Gelest Inc., BASF SE, Emerald Performance Materials LLC, Shin-Etsu Chemical Co., Ltd., Siltech Corporation, ICM Products, Inc., CHT Group, Primasil Silicones, 3M, Nusil Technology LLC, Allergan, Ashland Incorporated, Siltech Corporation, Arkema, Silteq Limited, KCC Corporation, Sivance, Zhejiang Xinan Chemical Industrial Group Co., Ltd., Reiss Manufacturing Inc., Gelest, Inc, Saint-Gobain, Silicone Solutions. The countries covered in the global silicone (except resins) market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global silicone market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global silicone (except resins) market is segmented - 1) By Product Type: Elastomers, Fluids, Gels, Others 2) By Application: Construction, Transportation, Electrical & Electronics, Textiles, Personal Care & Pharmaceuticals, Others 3) By End-User: Industrial, Electronics, Machinery, Aerospace, Medical

The chemical fertilizers market consists of the sales of fertilizers by entities (organizations, sole traders or partnerships) that produce nitrogenous or phosphatic fertilizer materials; produce fertilizers from sewage or animal waste; manufacture nitrogenous or phosphatic materials and mix with other ingredients into fertilizers; and/or mix ingredients made elsewhere into fertilizers. The chemical fertilizers market is segmented into nitrogen fertilizer; phosphate fertilizer and potash fertilizer. The global chemical fertilizers market is expected to grow from $127.57 billion in 2020 to $137.99 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $150.64 billion in 2025 at a CAGR of 2%. Asia Pacific was the largest region in the global chemical fertilizers market, accounting for 41% of the market in 2020. North America was the second largest region accounting for 18% of the global market. Middle East was the smallest region in the global chemical fertilizers market. Farmers all around the world are adopting intensive farming techniques to increase productivity per hectare. Intensive farming is an agricultural intensification and mechanization system that aims to maximize yields from available land through various means, such as heavy use of pesticides and chemical fertilizers. These techniques help to meet the rising demand for food of the growing population and help to prevent food shortages. Some intensive farming techniques, such as monoculture, drive the demand for fertilizers. Monoculture is a practice of growing one type of crop intensively over a large area, thus depleting nutrients in the soil and making it heavily dependent on synthetic fertilizers. The fertilizers market is likely to be affected by the rising use of bio-fertilizers due to adverse impact of synthetic fertilizers on soil and other environmental concerns. A bio-fertilizers contains living microorganisms such as bacteria, fungi and algae, which are capable of fixing atmospheric nitrogen or convert soluble phosphate and potash in the soil into forms available to the plants. Bio-fertilizers promotes growth in plants by increasing the supply or availability of primary nutrients to the host plant. The use of bio-fertilizers was further augmented by negative impacts of prolonged use of chemical fertilizers on the soil. Phosphorus is being recovered from sewage, manure and other sources and made available as a fertilizer. Since phosphorus is a finite source, companies are looking for ways to recycle or recapture phosphorus to be used in agriculture. Plant-available phosphorus content is increased through anaerobic digestion and composting and in sludge from sewage through acid treatment and oxidizing. According to research conducted by the Luke Research Agency, Finland, manure and sludge when treated appropriately can provide more phosphorus than traditional inorganic fertilizers. The countries covered in the global chemical fertilizers market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global chemical fertilizers market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global chemical fertilizers market are Nutrien Ltd., Yara International, The Mosaic Company, CF Industries Holdings Inc., Israel Chemicals Ltd. The global chemical fertilizers market is segmented - 1) By Type: Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer 2) By Crop Category: Cereals, Oilseeds, Vegetables, Fruits, Others 3) By Method of Application: Broadcasting, Drop Spreading, Fertigation, Foilar Spray 4) By Form: Solid, Liquid, Gaseous 5) By Product Type: Complex Fertilizers, DAP, MOP, Urea, SSP, Other

The petrochemicals market consists of the sales of petrochemicals by entities (organizations, sole traders or partnerships) that produce acyclic (i.e., aliphatic) hydrocarbons such as ethylene, propylene, and butylene made from refined petroleum or liquid hydrocarbons and/or produce cyclic aromatic hydrocarbons such as benzene, toluene, styrene, xylene, ethyl benzene, and cumene made from refined petroleum or liquid hydrocarbons. The petrochemicals market is segmented into ethylene; propylene; benzene; xylene; styrene; toluene; cumene and other petrochemicals. The global petrochemicals market is expected to grow from $365.01 billion in 2020 to $429.11 billion in 2021 at a compound annual growth rate (CAGR) of 17.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $477.85 billion in 2025 at a CAGR of 3%. Asia Pacific was the largest region in the global petrochemicals market, accounting for 45% of the market in 2020. Middle East was the second largest region accounting for 21% of the global market. Eastern Europe was the smallest region in the global petrochemicals market. The petrochemicals market is expected to benefit from growth in the automobiles industry during the forecast period. There is a drive for production of automobiles which is leading to an increase in demand for petrochemical products which are used in manufacturing of brake parts, radiator and other components. For instance, the global motor vehicles market increased from $1,793.8 billion in 2014 to $2,323.9 billion in 2019, at a CAGR of 6.7%, thus increased use of plastics in automobiles is expected to increase the demand for petrochemicals during the forecast period. Oil price volatility is likely to have a negative impact on the petrochemicals market as significant decline and increase in oil prices negatively impacts the government and consumer spending. The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria and the UAE (United Arab Emirates) which are largely dependent on revenues generated through crude oil exports; whereas significant increase in oil prices had resulted in spurt in inflation, current account deficit and fiscal deficit in countries such as India and China, which predominantly imports oil. For instance, the Saudi government is expected to cut down its spending from 1.05 trillion riyals ($280 billion) in 2019 to 1.02 trillion riyals ($270 billion) in 2020, to 955 billion riyals ($255 billion) by 2022, due to significant decline in revenues generated from oil exports, thereby affecting the market. This high volatility in oil process is further expected to negatively impact the market going forward. Many petrochemical manufacturers are adopting IoT (Internet of Things) technologies to connect equipment’s’ and smart devices to obtain real time insights and identify inefficiencies in the manufacturing process. The data obtained is processed, analyzed and interpreted by plant managers and senior level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers on possible machine breakdowns. The countries covered in the global petrochemicals market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global petrochemicals market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global petrochemicals market are Saudi Basic Industries Corporation (SABIC), Sinopec, Royal Dutch Shell Plc, LyondellBasell Industries, INEOS AG. The global petrochemicals market is segmented - 1) By Type: Ethylene-Petrochemicals, Propylene-Petrochemicals, Benzene-Petrochemicals, Xylene, Styrene-Petrochemicals, Toluene, Cumene, Other Petrochemicals 2) By End-User Industry: Construction, Packaging, Automotive & Transportation, Healthcare, Electrical & Electronics, Others

The soap and cleaning compounds market consists of the sales of soap and cleaning compounds by entities (organizations, sole traders or partnerships) that produce and package soaps and other cleaning compounds, surface active agents, and textile and leather finishing agents used to reduce tension or speed the drying process. The soap and cleaning compounds market is segmented into soap and other detergents; surface active agents and polish and other sanitation goods. The global soap and cleaning compounds market is expected to grow from $180.99 billion in 2020 to $188.09 billion in 2021 at a compound annual growth rate (CAGR) of 3.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $224.13 billion in 2025 at a CAGR of 4%. Asia Pacific was the largest region in the global soap and cleaning compounds market, accounting for 31% of the market in 2020. Western Europe was the second largest region accounting for 23% of the global market. Africa was the smallest region in the global soap and cleaning compounds market. The global population increased from 7.3 billion in 2015 to 7.6 billion in 2018, thus increasing the global demand for soaps and cleaning products. This significant rise in demand from the population for end-use products gave a major boost to the overall soap and cleaning compounds market. Additionally, rapid urbanization especially in the developing economies supported the demand for these compounds through increased end use product consumption. The raw materials market is highly volatile; this is expected to have a negative impact on the growth of the soap and cleaning compounds market during the forecast period. When increasing raw material costs coincide with decreasing sales prices, soap and cleaning companies have to compromise on their profit margins. Rising trucking, railroad, dry-bulk and air-freight rates are also negatively impacting the market. Soap and cleaning product manufacturers are extremely sensitive to fluctuating raw material costs. Companies in the industry are replacing triclosan and triclocarban with chemicals such as benzalkonium chloride, benzethonium chloride or chloroxylenol (PCMX) as they are known to be harmful to both health and environment. Triclosan and triclocarban are the anti-microbial ingredients used in personal care products to stop or slower the growth of bacteria causing harm. These agents are used in products such as soaps, lotions, hand washes, toothpastes, mouthwashes, soaps, deodorants and cleaning compounds. Food & Drug Administration stated that the manufacturers did not demonstrate the ingredients to be safe for long-term daily use and more effective in preventing illness and spread of infections. They are also found in water bodies, thus affecting the marine life. For instance, P&G and Unilever, consumer products companies, stopped manufacturing and using triclosan and triclocarban agents and are replacing them with other chemical ingredients. The countries covered in the global soap and cleaning compounds market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global soap and cleaning compounds market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global soap and cleaning compounds market are P&G, Unilever, Ecolab Inc, S. C. Johnson & Son Inc, Colgate-Palmolive. The global soap and cleaning compounds market is segmented - 1) By Type: Soap And Other Detergents, Surface Active Agents, Polish And Other Sanitation Goods 2) By Application: Household, Commercial 3) By Distribution Channel: Hypermarkets/Supermarkets, E-Commerce, Pharmacy Stores, Others 4) By Category: Mass, Premium 5) By End Use Application: Health & Beauty, Dishwash, Clothes, Others

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. The paints and coatings market is segmented into water borne coatings; solvent based coatings; powder coatings and other paints and coatings. 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 growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $258.45 billion in 2025 at a CAGR of 4%. Asia Pacific was the largest region in the global paints and coatings market, accounting for 55% of the market in 2020. North America was the second largest region accounting for 18% of the global market. Eastern Europe was the smallest region in the global paints and coatings market. 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. For instance, global buildings construction market is expected to increase from $6.6 trillion in 2019 to $8.4 trillion in 2022. Similarly, global transportation manufacturing market is expected to increase from $6 trillion in 2019 to $7.8 trillion in 2022. Decorative paints and coatings are widely used in buildings and construction whereas protective paints and coatings are linked closely to the automotive, major appliance and industrial equipment industries. Therefore, growth in end-user industries is expected to drive the paints and coatings market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a significant restraint on the paints and coatings market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the paints and coatings market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. 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 environmental friendly biocides add to the costs of paint production. For instance, some of the major companies using biocide in paint manufacturing include The Dow Chemical Company, Troy Corporation, BASF SE, Thor Group and AkzoNobel N.V. The countries covered in the global paints and coatings market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global paints and coatings market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global paints and coatings market are PPG Industries Inc, The Sherwin-Williams Company, AkzoNobel N.V, Dow Chemical, RPM International Inc. The global paints and coatings market is segmented - 1) By Type: Water Borne Coatings, Solvent Based Coatings, Powder Coatings, Other Paints And Coatings 2) By Application: Architectural, Automotive, Wood, Packaging, Aerospace, Others 3) By Type of Resin: Acrylic, Polyurethanes, Polyesters, Epoxy, Alkyd, Others 4) By Performance Range: Commodity Coating Range, Engineering Coating Range, High-Performance Coating Range