Dublin, Sept. 23, 2024 (GLOBE NEWSWIRE) -- The "Global Markets and Advanced Technologies for Paints and Coatings" report has been added to ResearchAndMarkets.com's offering.
The global market for paints and coatings was valued at $194.0 billion in 2023. The market is expected to grow from $203.8 billion in 2024 and should reach $263.2 billion by 2029, at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2029.
This report analyzes the global paints and coatings market by segmenting it based on technology, chemistry and end use. These market segments are further analyzed at the global and regional levels. The base year for this analysis is 2023 and market estimates and forecasts are given from 2024 through 2029. The market estimates are provided in terms of revenue (U.S. dollars, million).
There is a major shift in the production of global paints and coatings, which is moving away from developed regions, such as Europe and the U.S., to developing economies, such as China and India. Continued increasing demand from developed countries, in addition to the demand from developing countries, is contributing to the overall expansion of the worldwide coating market. Industrial growth in developing economies is a major driver for growth in the coating industry. In most regions of the world, the coating industry is mature, and the growth of the coating industry is dependent on a number of factors, including the level of economic activity and the state of the construction industry, which remains a major consumer of paints and coatings.
The market for paints and coatings has been on the increase in various applications, and this has boosted the total market in many regions. Additionally, the market for solvent-borne paints and coatings is not going down as it was anticipated, and this has added to the increase in the total market value of paints and coatings.
Growth is the highest in the powder coating and emerging technology segment, as new technologies are being developed by major manufacturers, with ever-increasing pressure from regulatory authorities in regard to pollution control and other environmental factors.
Powder coating technology is being adapted in a big way in all fields of application. The market for coatings manufactured with solvent-borne technologies is slowly diminishing and being taken over by coatings based on waterborne technologies, essentially because of their environmentally friendly properties. This transition away from solvent-borne coatings is occurring in the North American and European markets, whereas solvent-borne coatings are still being widely used in developing countries because of cost factors.
High-solids and radiation-cured technologies are experiencing reasonably good growth, as these technologies are considered to be less polluting than solvent-borne technology. The publisher's market forecasts for solvent-borne coatings have been reduced somewhat from those in the prior version of this report, based on these ongoing changes in the market.
Report Includes
- 92 data tables and 41 additional tables
- An overview of the global markets and advanced technologies for paints and coatings
- Analysis of global market trends, featuring historical revenue data for 2023, estimated figures for 2024, forecasts for 2025 and 2029, and projected CAGRs through 2029
- Discussion of the integration of nanotechnology in the paints and coatings industry, and how it will lead to more durable and functional coatings
- Identification of the new opportunities, challenges, and technological changes in the industry
- Market share analysis by technology, chemistry, end use and region
- Analysis of R&D activity, product launches and the regulatory scenario
- Analysis of the key companies' market shares, mergers & acquisitions, joint ventures, partnerships, and other market strategies
- Profiles of major market players, including Akzo Nobel N.V., Asian Paints Ltd., Axalta Coating Systems, PPG Industries Inc., and The Sherwin Williams Co.
Companies Featured
- 3M
- Akzo Nobel N.V.
- Asian Paints
- Axalta Coating Systems
- Basf Se
- Dow
- Henkel Ag & Co. Kgaa
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co. Ltd.
- Ppg Industries Inc.
- Rpm International Inc.
- The Sherwin-Williams Co.
Key Topics Covered:
Chapter 1 Executive Summary
- Market Outlook
- Scope of Report
- Market Summary
Chapter 2 Market Overview
- Market Definition
- Composition of Paints and Coatings
- Pigments
- Resin
- Additives
- Solvent
- Value Chain Analysis
- Feedstocks
- Paints and Coatings Production
- Distribution and Logistics
- Consumers
- Porter's Five Forces Analysis
Chapter 3 Market Dynamics
- Overview
- Market Drivers
- Increasing Demand from the Automotive Industry
- Increasing Demand for Architectural Coatings
- Market Opportunities
- Growing Preference for Solvent-free Coatings
- Technological Advancement in the Paints and Coatings Industry
- Market Challenges
- Stringent Environmental Regulations Regarding VOC Emissions for Paints and Coatings
Chapter 4 Regulatory Landscape
- Regulatory Analysis
Chapter 5 Emerging Technologies
- Advances in Paints and Coatings
- Quotes from Industry Experts on Technologies and Innovations
Chapter 6 Market Segmentation Analysis
- Segmentation Breakdown
- Market Analysis by Technology
- Water-borne Coatings
- Solvent-borne Coatings
- Powder Coatings
- UV Cure Coatings
- Emerging Coating Technologies
- Market Analysis by Chemistry
- Acrylic
- Epoxy
- Polyurethane
- Alkyd
- Polyester
- Vinyl
- Other Resins
- Market Analysis by End Use
- Architectural Coatings
- Industrial Coatings
- Geographic Breakdown
- Market Analysis by Region
- North America
- Europe
- Asia-Pacific
- Rest of World
Chapter 7 Competitive Landscape
- Market Competitiveness
- Market Share Analysis
- Strategic Analysis
- Merger and Acquisition Analysis
Chapter 8 Sustainability in Paints and Coatings Industry: An ESG Perspective
- Importance of ESG in the Paints and Coatings Industry
- ESG Metrics: Understanding the Data
- ESG Practices in the Paints and Coatings Industry
- Current ESG Status in the Market for Paints and Coatings
- Emerging Sustainability Trends
- Concluding Remarks
Chapter 9 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/78v4
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