Paints and Coatings Market 2022-2031
This report provides in depth study of “Paints and Coatings Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Paints and Coatings Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
As per a revised study by Persistence Market Research, the global paints and coatings market is expected to accelerate at a healthy CAGR of 5.1% and be valued at around US$ 239 Bn by 2031.
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Growing industrial development along with significant rise in construction activities in regions such as Asia Pacific, North America, and Europe are expected to fuel demand for paints and coatings over the coming years. Countries in Asia Pacific, such as China, India, and ASEAN, among others, are expected to focus on increasing their infrastructure and construction spending multiple fold.
Key manufacturers are focusing on reducing their carbon footprint to increase sustainability in their products. They are investing substantial amounts in research & development to provide paint and coating products that emit low volatile organic compounds, by providing bio-based and eco-friendly paints and coatings.
Key Players:
The report has profiled some of the important players prevalent in the global like – Sherwin-Williams Company, Axalta Coating Systems, Valspar Corporation, NEI Corporation, Cabot Corporation, RPM International Inc., K Diamond Vogel, NIC Industries, Inc, Akzo Nobel N.V, Hempel A/S, Steuler-KCH GmbH., Henkel Group, Terraco Group,. Fosroc, Belzona International Ltd, DAW SE, Jotun., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd, Berger Paints Ltd, Asian Paints Ltd, Huisins New Material Technology Co., Limited, GUANGZHOU STRONG CHEMICAL CO., LTD, Furukawa Co., Ltd., KCC Corporation, TerraCo. Group, KCC Corporation, and Belzona International Ltd., and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Paints and Coatings Market.
Companies are also investing in technologies that will keep them ahead of the competition.
- AkzoNoble invested in Qlayers, which deals in coating application technologies. The company offers automated solutions that are safer, consistent, and faster than manual coating processes.
Opportunities for key players in the market include provision of services along with paint and coating products and special focus on remodel/ repaint businesses.
Some other factors driving sales of paints and coatings include surge in low-cost urban housing projects, increased infrastructural construction across regions, and the introduction of innovative formulation technologies in this space.
Key Takeaways from Market Study
- The Asia Pacific region is expected to dominate the market throughout the forecast period.
- Growing demand is being witnessed for protective coatings in the industrial sector.
- India’s paints and coatings sector has been witnessing a gradual shift in terms of consumer preferences from traditional whitewash to quality paints for indoor and outdoor applications.
- Overall, the market is experiencing a healthy competitive environment across the globe, where key players are focusing on increasing their regional share.
- The global market for paints and coatings is set to expand over 1.6X across the 2021 to 2031 forecast period.
“Globally, key players are continuously investing in aligning their manufacturing footprint to serve customer demand, especially in the Asia Pacific region, owing to favorable polices, availability of skilled labor at competitive remuneration, and stable raw material availability,” says a Persistence Market Research analyst.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Paints and Coatings Market Manufacturers
Paints and Coatings Market Distributors/Traders/Wholesalers
Paints and Coatings Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Paints and Coatings Market – Report Highlights
- A detailed overview of parent market of Paints and Coatings Market
- Changing Paints and Coatings Market dynamics in the industry
- In-depth segmentation of the Paints and Coatings Market
- Historical, current, and projected Paints and Coatings Market size regarding volume and value
- Recent industry trends and developments in Paints and Coatings Market
- Competitive landscape of the Paints and Coatings Market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Paints and Coatings Market performance
- Must-have information for Paints and Coatings Market players to sustain and enhance their market footprint
Key Questions Answered in the Paints and Coatings Market Report
How is the Paints and Coatings Market expected to grow over the projected period?
What direction is the Paints and Coatings Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Paints and Coatings Market in future?
What are the key market drivers in the Paints and Coatings Market?
What are significant opportunities and improvement areas for Paints and Coatings Market manufacturers?
What are the key developments and trends taking over the Paints and Coatings Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Paints and Coatings Market?
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