New York, United States , Sept. 13, 2023 (GLOBE NEWSWIRE) -- The Global High-Tech Paints & Coatings Market Size is to grow from USD 123.58 Billion in 2022 to USD 314.75 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period.
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High-tech paints and coatings have revolutionized surface protection and aesthetics. Incorporating cutting-edge technologies, these advanced products offer superior performance, durability, and visual appeal. With features like self-cleaning properties, anti-microbial coatings, heat reflection, and corrosion resistance, they provide enhanced protection and maintenance. High-tech paints also prioritize environmental sustainability, boasting low volatile organic compound (VOC) emissions. Widely used in industries such as automotive, aerospace, construction, and electronics, these coatings improve functionality, energy efficiency, and longevity. High-tech paints and coatings have transformed traditional surface treatments, drove innovation and delivering remarkable advancements in various sectors.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on, "Global High-Tech Paints & Coatings Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Crack Detection Paints, Self-Cleaning Paint, Odor-Absorbing Paint, Waterproofing Paint, and Thermal Insulation Paints), By Resin (Acrylic, Polyurethane, Polyester, and Epoxy), By Technology (Waterborne, Solvent Borne, and Powder Coatings), By End-Use Industry (Marine, Automotive, Architectural, Aerospace, Energy, Electronics, and Healthcare), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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The waterborne segment is expected to grow at a CAGR of around 9.3% during the forecast period
Based on the technology, the global high-tech paints & coatings market is segmented into waterborne, solvent borne, and powder coatings. The waterborne segment is poised for significant growth during the forecast period in the high-tech paints and coatings market. There are several factors driving this anticipated growth. There is a growing emphasis on environmental sustainability and regulations promoting the use of low VOC coatings. Waterborne coatings offer an eco-friendlier alternative with lower VOC emissions compared to solvent-based counterparts. The advancements in waterborne coating technologies have improved their performance and durability, making them a viable choice for various applications. Additionally, the increasing demand for waterborne coatings in industries such as automotive, construction, and furniture, driven by their ease of use, faster drying time, and excellent adhesion properties, further fuels their growth prospects in the forecast period.
The acrylic segment is expected to grow at a CAGR of around 9.7% during the forecast period
Based on the resin, the global high-tech paints & coatings market is segmented into acrylic, polyurethane, polyester, and epoxy. The acrylic segment is anticipated to experience substantial growth during the forecast period in the high-tech paints and coatings market. Several factors contribute to this projected growth because the acrylic coatings offer excellent properties such as high durability, weather resistance, and UV resistance, making them ideal for exterior applications. The acrylic coatings exhibit versatile characteristics, allowing them to be used on various substrates, including metals, plastics, and wood. This versatility expands their application scope across multiple industries. Moreover, advancements in acrylic coating formulations have led to improved performance and enhanced functionalities, further driving their demand.
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Asia-Pacific is predicted to grow at a higher CAGR of around 10.2% over the projected period.
Based on region, Asia-Pacific is anticipated to witness robust growth during the forecast period in the high-tech paints and coatings market. Several factors contribute to this projected growth such as the region's strong economic growth, rapid urbanization, and increasing infrastructure investments create a favorable environment for market expansion. The automotive, construction, and electronics industries in Asia-Pacific are expected to experience significant growth, driving the demand for advanced coatings. Additionally, rising consumer awareness about environmental sustainability and the demand for eco-friendly coatings further contribute to the market growth. Moreover, the presence of a large population with increasing disposable incomes fuels the demand for visually appealing and high-performance coatings.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global high-tech paints & coatings market include Abrisa Technologies, AccuCoat Inc., Akzo Nobel N.V., Axalta Coating Systems LLC, BASF SE, Chase Corp, Ferro Corporation, GXC Coatings, Hentzen Coatings Inc., Indestructible Paint Limited, Kansai Paint Co. Ltd., Mankiewicz Gebr. & Co., Nippon Paints Holdings, PPG Industries Inc., RPM International Inc., Shalimar Paints, and The Sherwin-Williams Company.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global high-tech paints & coatings market based on the below-mentioned segments:
High-Tech Paints & Coatings Market, By Product Type
- Crack Detection Paints
- Self-Cleaning Paint
- Odor-Absorbing Paint
- Waterproofing Paint
- Thermal Insulation Paints
High-Tech Paints & Coatings Market, By Resin
- Acrylic
- Polyurethane
- Polyester
- Epoxy
High-Tech Paints & Coatings Market, By Technology
- Waterborne
- Solvent Borne
- Powder Coatings
High-Tech Paints & Coatings Market, By End-Use Industry
- Marine
- Automotive
- Architectural
- Aerospace
- Energy
- Electronics
- Healthcare
High-Tech Paints & Coatings Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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