Paints and Coatings Market Size, Share & Trends 2018 | Product Types & Application, Top Manufacturer, Regional Analysis & Forecasts to 2023

Global Paints & Coatings Market - by Resin Type, Product Type (commodity, engineering, and high performance), Application (Architectural, Industrial), Region - Forecast till 2023

Pune, India - July 12, 2018 /MarketersMedia/ —

Market Insights:

Market Research Future (MRFR) has asserted in its recently report that the Global Paints and Coatings Market will grow at a steady CAGR of 3% during the forecast period 2016 to 2021. In terms of volume, the matured market for Paints and Coatings will witness 4.5% CAGR during the assessment period.

The primary demand for Paints and Coatings comes from the construction industry. The expenditure incurred by customers in the construction industry will be rising over the next few years, which is a crucial driver of growth for paints and coatings market. Other industries that will contribute towards the growing demand for Paints and Coatings include aerospace, automobile, wood, marine, coil, etc.

The stringent laws implemented by the governments to control the adverse effects on environment restrict the market growth to some extent, but also paves the way for product innovation. For instance, Volatile organic compounds (VOCs) are harmful to the environment and exposure to VOCs can be associated with the organic solvent syndrome. Therefore, the regulatory laws led to the introduction of low-VOC and zero-VOC paints and finishes.

Global Paints and Coatings Market Segmentation:

By Product Type, the market for paints and coatings has been segmented into water based and solvent based, powdered and UV. The stringent regulations governing the Paints and Coatings Market will push the demand for water based and solvent based products.

By Applications Type, the market is segmented into architectural, industrial and marine. The architectural segment is set to witness amplified demand due to the growth of the residential sector. The growth demonstrated by the industrial segment can be ascribed to the rapid developments in industrialization.

Get In-Depth Sample Report @ https://www.marketresearchfuture.com/sample_request/854

Regional Analysis:

By Region, the market has been segmented into North America, Europe, Asia Pacific, and, Rest of the World (RoW). The Asia Pacific market will captivate notable share in market control and will retain its dominance over the projection period. The key factor contributing towards the expansion of the market in this region is a boom in the residential sector. The expenditure in the residential sector rose at a steep rate of 10.5% in India, outshining China which demonstrated a rise in the price at a rate of 9.6% from 2016 to 2017. The major contributions will be accounted by countries such as India, China, Vietnam, Indonesia, etc. that would generate most of its profits from the automobile industry. The prominent players of the automobile industry are shifting their manufacturing bases to the Asia Pacific due to cheap labor, lower cost of raw materials, etc. which will open avenues for accelerated demand for paints and coatings.

The market in North America is expected to grow in spite of strict regulatory laws implemented by the government. The demand for paints and coatings in North America market will come as a response to the growing demand for residential houses and its renovation. The concentration of established corporate houses dealing in Paints and Coatings in the region can also be credited for the growth of the market. The growth rate of 3% will be registered in the North America region.

Europe market will expand moderately with Germany playing a significant role owing to its prominence in the automobile industry. The industry experts have asserted that there will be a rise in demand for construction of both residential and commercial structures in the region which will steer growth in the paints and coatings market.

RoW market will grow at an average rate due to soaring construction industry in the Middle East. Also, the rapid industrialization coupled with urbanization will lead to a proliferation of the market.

Competitive Dashboard:

The key profiles holding prominent positions in the market have been profiled by MRFR which includes AkzoNobel N.V, Sherwin-Williams Company, Valspar Corporation, Axalta Coating Systems Ltd, BASF SE, PPG Industries Inc., RPM International Inc., Kansai Paint Co. Ltd, Henkel AG & Co., and, Asian Paints Limited. The top-notch players strategize proceedings such as innovative product development, tie-ups with end-user industries, mergers & acquisitions, construction of manufacturing plants for increased production, etc. for gaining traction.
BASF has launched a new product line in Europe for its R-M®, and, Glasurit® refinish paint brands that makes refinishing of automotive more sustainable. The product line contributes towards a reduction in carbon dioxide emissions as it is the world’s first refinish product to be manufactured according to the certified biomass balance approach.

BASF inaugurated its first automotive coatings manufacturing facility at its Bangpoo manufacturing site, Samutprakarn province, Thailand. The plant will deal with the production of solventborne and waterborne automotive coatings for catering to the growing demand in the region.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/paints-coatings-market-854

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Info:
Name: Abhishek Savant
Email: sales@marketresearchfuture.com
Organization: Market Research Future
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune
Phone: +1 646 845 9312

Source URL: https://marketersmedia.com/paints-and-coatings-market-size-share-trends-2018-product-types-application-top-manufacturer-regional-analysis-forecasts-to-2023/376664

For more information, please visit https://www.marketresearchfuture.com/reports/paints-coatings-market-854

Source: MarketersMedia

Release ID: 376664

Latest News

Trump tours Paradise area, calls wildfire a 'really bad one'

Nov 18, 2018

PARADISE, Calif. — From the ashes of a mobile home and RV park, President Donald Trump said Saturday he came to the heart of California's killer wildfire to fully grasp the scale of the desolation wrought on the landscape. "We're going to have to work quickly. ... Hopefully this is going to be the last of these because this was a really, really bad one," said the president, standing amid the crumpled foundations of homes and twisted steel of melted cars. "I think everybody's seen the light and I don't think we'll have this again to this extent," Trump said...

Regulators close Maine's shrimp fishery for next 3 years

Nov 18, 2018

PORTLAND, Maine — Regulators voted Friday to close the Gulf of Maine winter shrimp season for another three years, raising fears that the fishery decimated by rising water temperatures may never bounce back. The Atlantic States Marine Fisheries Commission has been taking a year-to-year approach to determining whether to allow a winter season, but the panel decided to shut it down for 2019, 2020 and 2021 after receiving a dismal report on the depleted fishery. The fishery has been shut down since in 2013 in Maine, New Hampshire and Massachusetts. "The stock has shown very little signs of recovery. It's...

Fire deaths rise to 71 ahead of Trump's California visit

Nov 18, 2018

CHICO, Calif. — With the confirmed death toll at 71 and the list of unaccounted for people more than 1,000, authorities in Northern California on Friday searched for those who perished and those who survived the fiercest of wildfires ahead of a planned visit by President Donald Trump. The president on Saturday is expected to get a look at the grief and damage caused by the deadliest U.S. wildfire in a century, and he could face resentment from locals for blaming the inferno on poor forest management in California. In an interview taped Friday and scheduled for broadcast on "Fox...

The Latest: Florida massacre panel begins debate

Nov 18, 2018

SUNRISE, Fla. — The Latest on the panel investigating the Florida high school massacre (all times local): 4:45 p.m. The state commission investigating the Florida high school massacre is beginning discussions on what recommendations it will make regarding school safety, mental health and steps to avoid future school shootings. The Feb. 14 attack on Marjory Stoneman Douglas High in Parkland killed 14 students and three staff members. The Marjory Stoneman Douglas High School Commission, which has met periodically since April, didn't pass any specific recommendations Friday. But it decided that it will focus its first batch of recommendations on less...

California town's wildfire evacuation plan raises questions

Nov 18, 2018

MAGALIA, Calif. — Ten years ago, as two wildfires advanced on Paradise, residents jumped into their vehicles to flee and got stuck in gridlock. That led authorities to devise a staggered evacuation plan — one that they used when fire came again last week. But Paradise's carefully laid plans quickly devolved into a panicked exodus on Nov. 8. Some survivors said that by the time they got warnings, the flames were already extremely close, and they barely escaped with their lives. Others said they received no warnings at all. Now, with at least 56 people dead and perhaps 300 unaccounted...

The Next Daily is the new generation of online publication, serving you the most recent discoveries made in science and technology on a daily basis. At The Next Daily, we believe in the power of consistent and reliable reporting to inspire and move mankind forward.

Contact us: sales[at]thenextdaily.com