Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Latex Coating Market By Application, By End-Use Industry, By Functionalityand By Geography- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global latex coating market is on track to achieve remarkable growth, projected to reach a substantial valuation of $73.36 billion by 2030, from $50.77 billion in 2023, showcasing a robust Compound Annual Growth Rate (CAGR) of 5.4%.
Versatile Application in Various Industries
Latex coatings play a vital role in the paint industry as both a protective and decorative finish. Widely used in applications ranging from furniture to wood paneling, wood siding, and children's playground equipment, latex paints are favored for their versatility and ease of use. With the ability to clean up easily with soap and water, they are the preferred choice for do-it-yourself painting projects. Furthermore, they offer the advantage of quicker drying times compared to oil-based paints, allowing projects to be completed in less time.
Diverse Range of Latex Paints
The market for latex coatings encompasses a diverse range of products, each offering unique textures and appearances. Some come pre-mixed and ready-to-use, while others require manual stirring prior to application. The incorporation of colorants and pigments with latex paints contributes to the final product's color and coverage capabilities. Latex coatings can possess different sheens, including gloss, eggshell, flat, or matte. While flat and matte finishes effectively hide imperfections, gloss and eggshell finishes offer increased durability.
Market Growth Influencers
The growth of the latex coating market is driven by its widespread application in various sectors such as construction, automotive, and furniture. Latex coatings exhibit desirable attributes such as adhesion, durability, and water resistance, making them ideal for tasks such as interior and exterior painting, wood finishing, metal protection, and other applications.
Challenges and Opportunities
While latex coatings offer numerous advantages, they may have limitations in certain applications. For instance, in extremely demanding industrial or maritime environments, specialty coatings might outperform latex coatings. This could restrict their use in industries requiring exceptional toughness and resistance. However, growing demand for green and sustainable coatings presents an opportunity for market expansion.
Market Dynamics Overview:
Drivers:
- Increasing demand from end-use industries
Restraints:
- Limited performance in certain applications
Opportunities:
- Growing demand for green and sustainable coatings
Key Features and Insights:
- This report uncovers potential revenue opportunities across segments and presents compelling investment propositions.
- Key insights into market drivers, restraints, opportunities, trends, and competitive strategies are provided.
- Profiles of key players are included, highlighting company highlights, product portfolios, financial performance, and strategies.
- Insights from this report empower marketers and management to make informed decisions regarding product launches, upgrades, market expansion, and marketing tactics.
Detailed Segmentation:
Types of Latex:
- Acrylic Latex Coatings
- Vinyl Acetate Ethylene (VAE) Latex Coatings
- Styrene Butadiene Latex Coatings
- Polyvinyl Acetate (PVA) Latex Coatings
- Others
Applications:
- Construction
- Automotive
- Furniture
- Paper and Packaging
- Textiles and Non-Woven
- Metal and Industrial
- Others
Functionality:
- Protective Coatings
- Decorative Coatings
- Adhesive and Sealant Applications
Substrates:
- Wood
- Metal
- Concrete and Masonry
- Plastics
- Others
End-Use Industry:
- Residential
- Commercial
- Industrial
Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Company Profiles:
- PPG Industries
- Akzo Nobel N.V.
- Sherwin-Williams Company
- BASF SE
- The Dow Chemical Company
- Arkema Group
- RPM International Inc.
- Nippon Paint Holdings Co., Ltd.
- Axalta Coating Systems Ltd.
- Asian Paints Limited
- Kansai Paint Co., Ltd.
- Jotun Group
- Sika AG
- Hempel A/S
- Benjamin Moore & Co.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $50.77 Billion |
| Forecasted Market Value (USD) by 2030 | $73.36 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/38zx1e
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