Dublin, Aug. 13, 2021 (GLOBE NEWSWIRE) -- The "Paints and Coatings Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global paints and coatings market is expected to grow from $199.87 billion in 2020 to $216.9 billion in 2021 at a compound annual growth rate (CAGR) of 8.5%. The market is expected to reach $258.45 billion in 2025 at a CAGR of 4%.
Major companies in the paints and coatings market include PPG Industries Inc; The Sherwin-Williams Company; AkzoNobel N.V; Dow Chemical and RPM International Inc.
The paints and coatings market consists of the sales of paints and coating by entities (organizations, sole traders or partnerships) that mix pigments, solvents, and binders into paints and other coatings, such as stains, varnishes, lacquers, enamels, shellacs, and water-repellent coatings for concrete and masonry, and/or produce allied paint products, such as putties, paint and varnish removers, paint brush cleaners, and frit. The paints and coatings market is segmented into water borne coatings; solvent based coatings; powder coatings and other paints and coatings.
Asia Pacific was the largest region in the global paints and coatings market, accounting for 55% of the market in 2020. North America was the second largest region accounting for 18% of the global paints and coatings market. Eastern Europe was the smallest region in the global paints and coatings market.
Biocides are being used in paints to enhance their longevity and to maintain their quality. Biocide additives have been designed to protect paints from getting damaged during storage or to keep fungi and algae from growing on the applied paints.
The market for biocides in paints will continue to grow due to the switch from solvent based to water based paints as they are not hazardous for human health and environment, and minimize fungal and algae growth. However, replacement of traditional biocides based on chlorine and formaldehyde with environmental friendly biocides add to the costs of paint production.
For instance, some of the major companies using biocide in paint manufacturing include The Dow Chemical Company, Troy Corporation, BASF SE, Thor Group and AkzoNobel N.V.
There is a rapid growth in consumption of paints and coatings in many industries. Paints and coatings are widely used in the automotive, construction and manufacturing industries. For instance, global buildings construction market is expected to increase from $6.6 trillion in 2019 to $8.4 trillion in 2022.
Similarly, global transportation manufacturing market is expected to increase from $6 trillion in 2019 to $7.8 trillion in 2022 . Decorative paints and coatings are widely used in buildings and construction whereas protective paints and coatings are linked closely to the automotive, major appliance and industrial equipment industries. Therefore, growth in end-user industries is expected to drive the paints and coatings market during the forecast period.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Paints And Coatings Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Paints And Coatings Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Paints And Coatings Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Paints And Coatings Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Paints And Coatings Market Trends And Strategies
8. Impact Of COVID-19 On Paints And Coatings
9. Paints And Coatings Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Paints And Coatings Market Regional Analysis
10.1. Global Paints And Coatings Market, 2020, By Region, Value ($ Billion)
10.2. Global Paints And Coatings Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Paints And Coatings Market, Growth And Market Share Comparison, By Region
11. Paints And Coatings Market Segmentation
11.1. Global Paints And Coatings Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Water Borne Coatings
- Solvent Based Coatings
- Powder Coatings
- Other Paints And Coatings
11.2. Global Paints And Coatings Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Architectural
- Automotive
- Wood
- Packaging
- Aerospace
- Others
11.3. Global Paints And Coatings Market, Segmentation By Type of Resin, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Acrylic
- Polyurethanes
- Polyesters
- Epoxy
- Alkyd
- Others
11.4. Global Paints And Coatings Market, Segmentation By Performance Range, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Commodity Coating Range
- Engineering Coating Range
- High-Performance Coating Range
12. Paints And Coatings Market Metrics
12.1. Paints And Coatings Market Size, Percentage Of GDP, 2015-2025, Global
12.2. Per Capita Average Paints And Coatings Market Expenditure, 2015-2025, Global
Companies Mentioned
- PPG Industries Inc
- The Sherwin-Williams Company
- AkzoNobel N.V
- Dow Chemical
- RPM International Inc
For more information about this report visit https://www.researchandmarkets.com/r/aqru45
