The global paints and coatings market size were valued at USD 162,468.23 million in 2020, and the market is projected to register a CAGR of over 4.1% during the forecast period 2021-2028.
Paint is any pigmented liquid, liquefiable, or solid mastic composition that, after application to a substrate in a thin layer, converts to a solid film. It is most commonly used to protect, color, or provide texture to objects. Paint can be made or purchased in many colors—and in many different types, such as watercolor or synthetic.
The wood, automobile & transportation, and construction sectors all make extensive use of paints and coatings. They are widely employed in the building and construction sector to shield structures from any damage from the outside. Additionally, the product is applied in a number of ways to decorate infrastructure and buildings, both residential and non-residential, as well as industrial machinery, automobiles and boats, industrial wood, and other things.
The rise in demand from end-use industries is a major driver propelling the paints & coatings industry. The residential end-use sector in the APAC region is anticipated to grow throughout the anticipated period, which will enhance demand for paints and coatings.
While customers prefer eco-friendly products, research and development for eco-friendly paints has contributed to increase demand. The use of low-VOC and environmentally friendly technologies, such as water-based coatings, powder coatings, and UV curable coatings, is becoming more and more popular in the paints and coatings sector. Rising feedstock prices and erratic availability are further characteristics of solvent-based paints and coatings. Architectural coatings frequently use water-based coatings.
The largest market segment is the residential end-use industry. The increase in urbanization and population is expected to cause the building and construction sector to expand quickly during the next years. Numerous new homes have been built as a consequence of economic expansion and rising earnings in recent years, and the refurbishment of older homes has contributed to increase demand.
Following the epidemic, there has been a spike in demand for automobiles, which has contributed to an increase in demand for paint and coatings.
The paint and coatings industry's supply chain has been hampered by the COVID 19 outbreak. Businesses are focusing on controlling the orders. Inventory levels and shipments in transit in the midst of the epidemic.
Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China, India, and Japan.
Insights are provided for each region and major countries within the regions
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Report Feature |
Descriptions |
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Growth Rate |
CAGR of 4.1% during the forecasting period, 2021-2028 |
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Historical Data |
2018-2019 |
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Forecast Years |
2021-2028 |
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Base Year |
2020 |
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Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Report Segmentation |
resin, technology, end user and region. |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel NV, Nippon Paint Holdings Co., Ltd, RPM International Inc., Tikkurila Oyj, Hempel A/S, Berger Paints India Limited, Shalimar Paints, Masco Corporation, BASF Coatings GmbH, Beckers Group, Dunn-Edwards Corporation, Tiger Coatings Gmbh & Co. Kg, Sacal International Group Ltd., and Diamond Vogel Paint Company |
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Available Customization |
In addition to the market data for Paints & Coatings Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Increased business activity and increased automotive demand are what are driving the North American paint and coating industry.
Paints & Coatings Market is segmented into resin, technology, end user and region.
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