Paints and Coatings1

Paints and Coatings Market Latest Advancements &
Market Outlook 2018 to 2025
Paints and coatings are liquid or semisolids materials that are applied or sprayed to
a substrate in the form of a thin layer, which forms a solid film over time. It is used to
enhance aesthetic appeal, protect and color buildings, walls, objects, equipment,
among others. It is a mixture of polymer particles called binders, various surfactants,
pigments, solvents, and processing aids. Asia Pacific and Middle East are expected
to be the fastest growing markets during the forecast period. The solvent-based
paints such as those used for waterproofing and flame proofing are gaining traction.
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The market has witnessed a wave of innovative products being developed and
players focusing on expanding their regional footprint. Development of Nano
InvisiPrint system, anti-finger prints solution for electronic display, developed by
Nanotechnologies (NBD) on February 7, 2017. On January 31, 2017, Evonik set up
a new research laboratory in Istanbul, Turkey, which will help Evonik, to expand in
the Middle East. On September 8, 2016, Australian National University (ANU)
developed a water repelling spray that finds application in the aerospace and mobile
phone industries, among others.
The global paints and coatings market was valued at US$ 137.25 billion and
46,686.09 kilo tons in 2016, and is expected to expand at a CAGR of 5.6% in terms
of revenue and 4.8% in terms of volume during 2017 – 2025.
Stringent government regulations to reduce VOC in paints and coatings,
boosting demand for waterborne paints
Stringent government regulations to reduce VOC content in paints and coatings such
as on April 21, 2005, United States Environmental Protection Agency amended
Residential Lead-Based Paints Hazard Reduction Act of 1992. The waterborne
paints segment is expected to expand at a CAGR of over 4.6% in terms of volume
and 5.4% in terms of value, according to a study conducted by Coherent Market
Insights. Moreover, technological advancements in waterborne paints production is
also expected to boost the growth percentile, The AVANSE MV-100 is one of the
latest technology developed by The DOW Chemicals Company, which offers high
performance acrylic binder used to coat metal surfaces. Furthermore, factors such
as increasing population, rampant demand for improved infrastructure development
with the growing urbanization, in turn projected to fuel growth of the paints and
coatings market through 2025.
Growing decorative paints application to boost the market growth
Asia Pacific, followed by North America and Europe, respectively accounted for
major share in the global paints and coatings market both in terms of value and
volume in 2016 and the trend is expected to remain the same over the forecast
period. In 2016, Asia Pacific held a share of 43.45% in terms of volume, followed by
Europe (20.23%). The growing demand for supportive infrastructure in Asia Pacific
due to growing population, increased urbanization and growing retail and hospitality
sectors is expected to drive growth of the global paints and coatings market over the
forecast period. According to a study conducted by Coherent Market Insights, the
global wood and furniture market is expected to witness a CAGR of 4.5% in terms of
value from 2017 to 2025.
Multinational players need to tap potential addressable market in emerging
economies with the help of geographical expansion
Product portfolio expansion and geographical expansion are the key market trends,
which are expected to shape the industry in the near future.
Major players in the global paints and coatings market include PPG, The
Sherwin-Williams Co., RPM International Inc., The Valspar Corp., Axalta Coating
Systems, BEHR, Benjamin Moore & Co., Dunn-Edwards Corporation, Ennis-Flint,
Shawcor Ltd., Nippon Paints, Kelly-Moore Paints Co. Inc, Cloverdale Paints Inc.,
Innovative Chemical Products Group, Vogel Paints Inc., Yenkin Majestic Paints
Corp., Tnemec Company Inc, Elantas Pdg Inc, True Value Company, Vista Paints.
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Paints and Coatings Market report categorizes global market by Technology (Waterborne, Solvent borne, High Solids Coatings/Radiation-Curable Coatings, Powder Coatings), Resin Type (Acrylic, Alkyd, Epoxy, Polyester, Polyurethane), Application (Decorative Paints, Transportation (incl. Automotive OEM), Metal industrial Coatings), and Geography - Insights, Opportunity Analysis, and Industry Forecast till 2025

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