1. What is the projected Compound Annual Growth Rate (CAGR) of the Paints and Coatings Market?
The projected CAGR is approximately 4.5%.
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Paints and Coatings MarketPaints and Coatings Market by Resin (Epoxy, Acrylic, Polyester, Alkyd, Polyurethane, Others), by Product Type (Waterborne, Solvent Borne, Powder Coatings, UV Coatings, Others), by Application (Architectural, Automotive OEM, Marine, Coil, General Industries, Protective Coatings, Automotive Refinish, Industrial Wood, Packaging, Others), by North America (U.S., Canada, Mexico), by Europe (Germany, U.K., France, Italy, Spain, Russia, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Indonesia, Rest of Asia Pacific), by Latin America (Brazil, Rest of Latin America), by Middle East & Africa (Saudi Arabia, South Africa, UAE, Rest of the Middle East & Africa) Forecast 2026-2034
The Paints and Coatings Market size was valued at USD 206.56 USD Billion in 2023 and is projected to reach USD 281.10 USD Billion by 2032, exhibiting a CAGR of 4.5 % during the forecast period. The chemical industry responds to the paints and coatings market demand, which offers a wide range of products for anything decorative, protective, and functional, where it is needed i. e. , construction, automotive, aerospace or marine. Functioning with adhesion, durability, and chemical, weather resistance, & corrosion resistance to different colours, finishes, & formulations comes in different varieties. These are usually used in the field of architecture, automotive refinishing, industrial equipment coating and marine applications and comprise water-based, solvent-based, powder coatings and special types of coatings such as anti-graffiti and fire-retardant coatings. Through the innovation of nanotechnology and eco-friendly formulations, the last thing that is achieved is the improvement of the above factors (primarily the reduction of VOC emissions) for better indoor air quality. This ever-changing market is a centre for research and development, which is developed along with the technological ones and the changes in regulations.
Resin:
Product Type:
Application:
February 2023: AkzoNobel Powder Coatings introduced the Interpon Futura Collection, which includes three new, on-trend colour palettes such as Merging World, Healing Nature, and Soft Abstraction. The collection emits no solvents or volatile organic compounds and contributes to AkzoNobel's overall sustainability program.
February 2023: PPG agreed to acquire the powder coatings division of Arsonsisi, an industrial coatings company situated in Milan, Italy. Arsonsisi is a prominent producer of architectural and industrial speciality powder coatings.
February 2023: H.B. Fuller Company acquired Apollo, the U.K.’s independent manufacturer of liquid adhesives, coatings, and primers for the roofing, industrial, and construction industries.
August 2021: PPG introduced PPG ENVIROCRON PCS P4 powder coatings for architectural, home décor, and furniture applications. This latest generation of powder coatings meets the increased demand for matte and premium-textured surfaces in applications ranging from aluminium and steel substrates for building construction to urban and office furniture.
June 2021: AkzoNobel acquired paints and coatings maker Grupo Orbis. This strategic acquisition will allow AkzoNobel to expand its position in South and Central America.
December 2020: Jotun launched its Jotacote Universal S120 primer to the global market in the North East Asian and West European markets. Jotacote Universal S120 is the world’s first PSPC-approved single-coat, solvent-free system.
The comprehensive report on the Paints and Coatings Market provides detailed insights into:
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 4.5% from 2020-2034 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 4.5%.
Key companies in the market include AkzoNobel (Netherlands), Kansai Nerolac Paints Limited (India), Kwality Paints and Coatings Pvt. Ltd. (KPCPL) (India), Nippon and Kansai (Kansai Paint Co., Ltd.) (Japan), The Sherwin-Williams Company (U.S.), NIPSEA GROUP (Singapore), Nippon Paint Holdings Co., Ltd. (Japan), Jotun (Norway), Axalta Coating Systems (U.S.), TIKKURILA OYJ (Finland), Dunn-Edwards Corporation (U.S.), Asian Paints (India), RPM International Inc. (U.S.), PPG Industries, Inc. (U.S.).
The market segments include Resin, Product Type, Application.
The market size is estimated to be USD 206.56 USD Billion as of 2022.
Rapid Expansion of the Construction Industry Will Aid Market Growth.
Sustainability Development in Coatings Industry to Favor Growth.
Difficulty Obtaining Thin Films in Powder Coating to Hinder Overall paints and coatings Market Growth.
February 2023: AkzoNobel Powder Coatings introduced the Interpon Futura Collection, which includes three new, on-trend color palettes such as Merging World, Healing Nature, and Soft Abstraction. The collection emits no solvents or volatile organic compounds and contributes to AkzoNobel's overall sustainability program.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Kiloton.
Yes, the market keyword associated with the report is "Paints and Coatings Market," which aids in identifying and referencing the specific market segment covered.
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