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Paints Coatings Market

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According to a new market report published by Persistence Market Research “Global Market Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020”, the global paints and coatings market was worth USD 121.9 billi
Paints Coatings Market to Reach an Estimated Value of $176.5 billion in 2020
According to a new market report published by Persistence Market Research “Global Market Study
on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020”, the
global paints and coatings market was worth USD 121.9 billion in 2013 and is expected to grow at a
CAGR of 5.5% during 2014 to 2020, to reach an estimated value of USD 176.5 billion in 2020.
With urbanization, the world is becoming a more sophisticated place with the growing need for
greater comfort. The paints and coatings market has been benefitting due to these developments in
personal and non-personal spaces. The increasing global population and the growing number of
nuclear families escalate the demand for new houses every year, which in turn creates demand for
paints and coatings. The increasing market for consumer goods and automobiles is also propelling
the growth of the paints and coatings market.
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Based on end-use, the paints and coatings market is segmented into three categories: architectural
and decorative; industrial; and marine. Architectural and decorative paints and coatings can be
further segmented into water-based and solvent-based. Similarly, industrial paints and coatings can
be classified into water-based, solvent-based, powder, and UV-based.
Architectural and decorative paints and coatings are used mainly applied on interior and exterior
walls of houses and corporate buildings. Based on their formulation, there are basically two types of
architectural and decorative paints and coatings: water-based and solvent-based. Based on type,
architectural and decorative paints and coatings paints are mainly classified into emulsions and
distempers. Distempers are costlier than emulsions and account for lesser market share as compared
to emulsions.
Industrial paints and coatings are used by several industries, including machinery manufacturing,
automotive, and consumer goods. Based on their formulation, industrial paints and coatings can be
segmented into four categories: water-based, solvent-based, powder, and UV-based.
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According to the Bureau of Economic Analysis (U.S. Department of Commerce), the durable goods
industry grew from USD 958.7 billion in 2010 to USD 1096.4 billion in 2013. The construction
industry in the country grew from USD 539.1 billion in 2010 to USD 611.4 billion in 2013.
Fabricated metal products industry accounted for USD 120.6 billion in 2010 which increased to
reach USD 134.1 billion in 2012. The wood products industry reached USD 23.8 billion in 2012
from USD 22.1 billion in 2010. The growth of these industries is fuelling the growth of the paints
and coatings market.
Several European economies recorded negative GDPs during the Euro-Zone crisis. Italy and Spain
have been the biggest victims of this crisis. However, the European economies are improving and
consumers are gaining confidence once more, which is a positive sign for consumer-related
industries. The negative effect of the economic crisis also impacted the European paints and
coatings market; however, the industry is recovering and is expected to gain momentum by 2020.
The global paints and coatings industry has moderate degree of competition; however, the industry
is moving towards consolidation through large number of mergers and acquisitions taking place in
the recent years. Some of the major paints and coatings companies include AkzoNobel N.V., PPG
Industries, The Sherwin-Williams Company, RPM International, Valspar Corporation, and Kansai
Paint Company.
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Author
ashutosh
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