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Global Paints and Coatings Market Growth and Demand Forecasts, 2013-2018 & 2023

/EIN News/ -- Dublin, Jan. 10, 2019 (GLOBE NEWSWIRE) -- The "Paints and Coatings Market by Resin Type - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.

Global paints and coatings market is projected to reach $262.5 billion by 2023

The market growth is driven by the increasing demand for painting and coating solutions from the automotive, electronic, and construction industries, based on resin type, the paints and coatings market is categorized into acrylic, polyester, polyurethane, epoxy, and others (nylon, nitrocellulose lacquer, and polycarbonates).

Among these, the volume sales of polyurethane are expected to exhibit the fastest growth in the market, witnessing a CAGR of 5.9% during the forecast period. Polyurethane offers strength and beauty to buildings and structures and are hence, the ideal choice for all residential and commercial interior projects. Hence, with the expanding construction activities, the demand for polyurethane is also expected to increase.

On the basis of formulation, the paints and coatings market is categorized into water-based, solvent-based, powder coatings, and UV coatings. During the forecast period, the volume sales of UV coatings is expected to witness the highest growth in the market, with 7.3% CAGR. These coatings have certain advantages over other types, such as reduced environmental impact, zero pot life issues, rapid cure speed, and low energy costs. Thus, these properties of this formulation type is leading to its increased demand in industries such as aerospace, wood work, and shipping.

In terms of application, the paints and coatings market is segmented into architectural and decorative, industrial, and marine. During the forecast period, the volume sales of painting and coating are expected to witness the highest growth for industrial application, with a CAGR of 5.5%. Increasing demand for painting and coating solutions from industries such as consumer goods, automotive, and machine manufacturing is driving the market growth.

APAC is expected to be the fastest growing paints and coatings market during the forecast period, with respective volume and value CAGRs of 7.2% and 8.3%. The growth of the market in the region is driven by air pollution regulations, which is expected to be a driving force behind the adoption of new coating resins and formulations. Furthermore, the expanding construction industry in countries such as China and India coupled with increasing government and private spending on commercial and residential construction applications, is expected to lead to an increase in construction activities, which in turn is likely to boost the market growth.

The introduction of nanotechnology has played a significant role in the industry. Apart from developing zero or low VOC content formulations, industry players are also focusing on developing nano paints and coatings that will have superior characteristics. This includes the introduction of ceramic or metals in various types of formulations. The integration carried out can be in the form of granules, free powder or particles, which are then inserted in the finished product matrix. Hence, these advancements in technology and introduction of new products are expected to augment the growth of the paints and coatings market.

Key Topics Covered:

Table of Contents

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Resin Type
4.1.1.1 Acrylic
4.1.1.2 Polyester
4.1.1.3 Polyurethane
4.1.1.4 Epoxy
4.1.1.5 Others
4.1.2 By Formulation
4.1.2.1 Water-based
4.1.2.2 Solvent-based
4.1.2.3 Powder coatings
4.1.2.4 UV coatings
4.1.3 By Application
4.1.3.1 Architectural and decorative
4.1.3.1.1 Residential
4.1.3.1.2 Non-residential
4.1.3.2 Industrial
4.1.3.2.1 Automotive OEM
4.1.3.2.2 Automotive refinish
4.1.3.2.3 Wood
4.1.3.2.4 Coil
4.1.3.2.5 Can
4.1.3.2.6 Manufacturing
4.1.3.2.7 Others
4.1.3.3 Marine
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Increasing adoption of smart coatings
4.3.2 Drivers
4.3.2.1 Growth of the construction industry
4.3.2.2 Increasing demand for automobiles
4.3.2.3 Growing demand from the oil and gas industry
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Increasing raw material prices
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Introduction of nanotechnology

Chapter 5. Global Paints and Coatings Market

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. RoW Market Size and Forecast

Chapter 10. Competitive Landscape
10.1 Market Share Analysis of Key Players
10.2 Competitive Benchmarking of Key Players
10.3 Global Strategic Developments of Key Players
10.3.1 Mergers and Acquisitions
10.3.2 Product Launches
10.3.3 Facility Expansions

Chapter 11. Company Profiles

  • Akzo Nobel N.V.
  • PPG Industries Inc.
  • The Sherwin-Williams Company
  • Kansai Paint Co. Ltd.
  • Nippon Paint Holdings Co. Ltd.
  • BASF SE
  • RPM International Inc.
  • Jotun A/S
  • Axalta Coating Systems Ltd.
  • Masco Corporation

For more information about this report visit https://www.researchandmarkets.com/research/8ttq77/global_paints_and?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Related Topics: Paints and Coatings 

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