CHICAGO, July 26,
2024 /PRNewswire/ -- The
report "Paints & Coatings Market by
Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Fluoropolymer,
Vinyl, Polyester), Technology (Waterborne Coatings, Solvent-borne
Coatings, Powder Coatings), End Use (Architectural, Industrial),
Region - Global Forecast to 2029", is projected to reach a
market size of USD 227.5 billion by
2029 from USD 194.5 billion in 2024,
at a CAGR of 3.2%. The Asia
pacific is one of the prominent consumers of paints & coatings
across the globe. Currently, the requirement for paints &
coatings is growing tremendously for automotive, packaging,
construction, electronics, and others. The growth of the emerging
economies as China, India, Brazil
and Mexico among others contribute
significantly for the development of the global paints &
coatings market.
Browse in-depth TOC on "Paints & Coatings
Market".
456 – Tables
62 – Figures
410 –
Pages
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Acrylic resin type segment is expected to register the
highest growth of the architectural paints & coatings market
during the forecasted period.
Pure acrylic powder is renowned for its exceptional look,
flexibility, and film toughness. Acrylics are frequently used due
to their appealing finish, durable surface, outstanding weather
resistance, and good electrostatic application qualities, making
them perfect for applications that require high standards. These
resins are widely used as clear coatings in the automobile
industry. The acrylic resin market is rapidly developing in the
coatings business. Demand for acrylic resin coatings is rapidly
expanding in emerging economies like as China and India, owing to rising living standards and a
growing preference for high-quality paint.
Epoxy resin type segment holds the largest share in the
overall industrial paints & coatings market during the forecast
period in terms of value.
Epoxy resins are used in the production of adhesives, plastics,
paints, coatings, primers, sealants, floors, and other construction
and building products. Epoxies are used in the paints &
coatings business to form insulating and protective layers for
maritime vessels, satellite systems, spacecraft, and airplanes.
Epoxy is a reliable anchor in a variety of applications, including
fastening handrails, rebar, and bolts into concrete. Epoxy resins
are valuable in a variety of sectors because they may be used as
adhesives, laminating resins, grinding wheel coatings,
fire-retardant coatings, and insulating materials. Their resistance
to heat stress and water makes them very good in preventing
corrosion.
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Asia Pacific region is
likely to be the fastest growing paints & coatings market
during the forecast period.
Rapid urbanization and industrialization in Asia-Pacific are increasing demand for a wide
range of sectors, including EV automotive vehicles, packaging,
aerospace& defence, marine, construction, and medical &
healthcare. The expansion of industrial activities in nations such
as China, India, Japan,
and South Korea has raised the
demand for paints & coatings. In addition, significant
infrastructure development projects, notably in India and China, are propelling up demand in the
building & construction industry for bonding, sealing,
insulation, and surface protection. Technological advancements in
paints and coatings tailored to meet the needs of diverse
industries are expected to fuel market growth in this domain.
Key Players
Akzo Nobel N.V. (Netherlands),
PPG Industries Inc. (US), The Sherwin-Williams Company (US), Axalta
Coating Systems LLC. (US), Jotun A/S (Norway) are the key players in the global
paints & coatings market.
Browse Adjacent Market: Coatings Adhesives Sealants
and Elastomers Market Research Reports &
Consulting
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Architectural Coatings Market - Global Forecast
to 2028
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2028
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