The Global Paints And Coatings Market Report by The Business Research Company covers paints and coatings market drivers and restraints, paints and coatings market size, major players, and the impact of COVID-19 on the paints and coatings market.
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.
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.
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%.
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Some paints and coatings market trends include biocides 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.
Global paints and coatings market segments include:
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.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Paints And Coatings Global Market Report 2021: COVID-19 Impact and Recovery to 2030 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, share, paints and coatings market players, paints and coatings market segments and geographies, 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.
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Read Paints And Coatings Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: PPG Industries Inc, The Sherwin-Williams Company, AkzoNobel N.V, Dow Chemical, RPM International Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Paints And Coatings Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Paints And Coatings Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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