About Paints and Coatings
The continuous growth in industrial development, favorable government regulations for environment friendly paints and coatings and increasing global infrastructure will lead to drive the global paints and coatings market. Moreover, since the larger underdeveloped countries are available in the market with lack of construction, thus, the overall paints as well as coatings market will grow at a significant rate in the forecasting years. In addition to this, introduction to automated painting and coating machineries will further fuel the demand for global paints and coatings market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.19% |
Paints and Coatings is a fragmented market due to the presence of less players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Paints and Coatings market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AkzoNobel N.V. (Netherlands), PPG Industries (United States), Axalta Coatings Systems (United States), BASF Coatings GmbH (Germany), The Sherwin-Williams Company (United States), Nippon Paint Holdings Co.Ltd. (Japan), Asian Paints (India), Kansai Paint Co. Ltd. (Japan), Jotun A/S (Norway) and RPM International (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Hempel A/S (Denmark), Behr Process Corp. (United States), Benjamin Moore & Co. (United States) and Ennis-Flint (United States).
Segmentation Overview
AMA Research has segmented the market of Global Paints and Coatings market by , Application (Architectural, Protective and Others) and Region.
On the basis of geography, the market of Paints and Coatings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Water based will boost the Paints and Coatings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Resin, the sub-segment i.e. Acrylic will boost the Paints and Coatings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Elastomeric Coating in Construction Industry and Increasing Applications of Fluoropolymer in Building and Construction Industry
Market Growth Drivers:
Introduction to Durable Coatings with Improved Performance and Increasing Demand from Number of Industries
Challenges:
Stringent Environmental Regulations for Minimizing Pollution across the Globe, Availability of Cheaper Substitutes in both Paints and Coats and Atmospheric Challenges in Applying Coats and Paints
Restraints:
Applying Water-based Coatings as well as Paints is a Time-Consuming Process and Comparative Excessive Distribution Overheads for Coil Coatings
Opportunities:
Attractive Prospectus of Powder Coatings leading to Create Number of Opportunities in Global Paints and Coatings Market and Increasing Number of Nuclear Families across the Globe
Market Leaders and their expansionary development strategies
In December 2023, Nippon paint announced a 100 per cent acquisition of VIBGYOR Paints and Chemicals, a major supplier of paints and coatings in South India. Through the strategic acquisition, Nippon Paint has gain a strong foothold in the growing industrial coatings portfolio especially focusing on Railways,"
In January 2019, PPG has announced that it has reached an agreement to acquire automotive coatings manufacturer Hemmelrath. The transaction is expected to close in the first half of 2019, subject to customary closing conditions. Financial terms were not yet disclosed.
According to the United States Government regulations for chemical products such as paints and coats which are sold or consumed by consumers, “Certain labeling information is required under the Fair Packaging and Labeling Act (FPLA), the Federal Hazardous Substances Act (FHSA), and the Consumer Product Safety Act (CPSA). The definitions may differ from those provided under the HCS, which relate to industrial purpose paints and coatings. These regulations are applied for consumer products containing certain hazardous substances, toxic, corrosive, irritant, and extremely flammable Paints and Coats.
Key Target Audience
Paints and Coatings Manufacturers, Paint and Coating Distributors, Traders and other Stakeholders, Major End-Users of Paints and Coatings, Industry Associations related to Paints and Coatings, Government Bodies including Policy Makers and Regulating Authorities, Market Research and Consulting Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.