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Paints And Coatings Global Market to Grow to $300 Plus Billion in 2019

LONDON, GREATER LONDON, UNITED KINGDOM, November 25, 2016 / -- Paints are any liquids or liquefiable or mastic compositions which on application to a substrate in a thin layer will convert into a solid film. They are most commonly used to protect, color or provide texture to objects. Paints and coatings manufacturers, to enhance homogenous distribution of mineral particles on painted surfaces, are adopting PET technology.

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PET (Pigment Encapsulation Technology) enables homogenous distribution of mineral particles during painting. It is an acrylic polymer capable of encapsulating mineral pigments used as paint formulators. The main performance of the coatings comes from the bulk of the binder composition; however additional polymer features such as crosslinking, oxidative or UV (Ultra Violet) curing and specific morphology can boost overall performance, improving the dirt pick up resistance in most cases.

The paints and coatings manufacturing industry comprises establishments that primarily mix pigments, solvents, and binders into paints and other coatings, such as stains, varnishes, lacquers, enamels, shellacs, and water repellant coatings for concrete and masonry, and/or manufacture allied paints products, such as putties, paints and varnish removers, paints brush cleaners, and frit.

According to The Business Research Company’s Chemical Consultant, Yogesh Bathula, the paints and coatings market is going to grow, as there is a rapid growth in consumption of paints and coatings in many industries. They are being widely used in the automotive, construction and manufacturing industries.

The Business Research Company expects the paints and coatings market to grow to $333 billion in 2019. Asia was the largest geographic market in the paints and coatings market in 2015, accounting for $152 billion or 55.9% of the global market.

The figure shows the year-on-year growth of the global paints and coatings market during 2015–2019.

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