Industry Background:
Specialty paints and coatings are either powder-based or liquid-based substance which is applied over a surface and when allowed to dry forms a permanent layer. Paints and coatings may be applied for reasons such as decoration, and protection (anti-corrosion, fireproofing, etc.) of the surface. These are made from synthetic polymers such as styrene acrylic, acrylic, polyurethanes, and others depending on the type of paint i.e. water-based, solvent-based. Specialty paints and coatings are categorized into interior paints and industrial paints based on their application. Majorly, paints and coatings are required by the infrastructure, real estate industry wherein interior paints are used. Industrial paints cater to businesses such as oil & gas, FMCG, automotive, etc. They find vast application across each domain, and hence is an extremely huge market with numerous players.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | PPG Industries Inc. (United States), Akzo Nobel N.V. (Netherlands), Henkel AG & Company KGaA (Germany), Sherwin-Williams Company (United States), Valspar Corporation (United States), RPM International Inc. (United States), Axalta Coating Systems (United States), BASF SE (Germany), Kansai Paint Co. Ltd. (Japan) and Sika AG (Switzerland) |
This growth is primarily driven by Increasing customer needs such as high performance, improved durability, and extended service life and High-performance durability as compared to traditional paints and coatings.
Globally, a noticeable market trend is evident Continues Technological Advancements in Specialty Paints and Coatings
Major Vendors, such as PPG Industries Inc. (United States), Akzo Nobel N.V. (Netherlands), Henkel AG & Company KGaA (Germany), Sherwin-Williams Company (United States), Valspar Corporation (United States), RPM International Inc. (United States), Axalta Coating Systems (United States), BASF SE (Germany), Kansai Paint Co. Ltd. (Japan) and Sika AG (Switzerland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The coatings market in the United States and Europe is mature and reflects the health of the economy, especially housing, construction, and transportation. Overall demand during the year 2018 to 2025 is anticipated to grow at an average annual rate of 2.6% in the United States and 1.8–2.4% in Western Europe.
On July 29, 2019, PPG has launched its PPG MOONWALK automated paint mixing system for Europe, Middle East and Africa automotive refinish industry. The self-contained system brings a new level of speed, precision, quality and color consistency to the body shop mixing process. This easy-to-use, the PPG MoonWalk system is sized to fit all mixing rooms and features 80 storage spaces for tinters and 13 positions in the dispensing rack. Other components include a moving scale that is 10 times more precise than a standard scale, a barcode scanner and a label printer.
Influencing Trend:
Continues Technological Advancements in Specialty Paints and Coatings and Increasing Demand for Paints and Coatings with Minimum Environmental Threats
Market Growth Drivers:
Increasing customer needs such as high performance, improved durability, and extended service life and High-performance durability as compared to traditional paints and coatings
Challenges:
Stringent and Regulatory Policies and Environmental Challenges in Reference to Waste Water Discharge
Restraints:
The Fluctuating Price Associated with the Use of Raw Materials and Water-based Coatings, as well as Paints application, is a time-consuming process
Opportunities:
Rising Customer Spending and Improving Infrastructure in Developed Countries Such As the United States and Western Europe and Strong Demand Growth among OEMS Especially in Automotive and Chemical Industries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Specialty Paints and Coatings Market
- Analysis about New Entrants in Specialty Paints and Coatings Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Specialty Paints and Coatings Study Sheds Light on
The Specialty Paints and Coatings Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Specialty Paints and Coatings industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Specialty Paints and Coatings industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.