Paints and Coatings Market Overview:
The Global Paints & Coatings Market was USD 135542.6 million in 2017 and is forecasted to grow at a healthy CAGR of 5.06% during the assessment period. Among various application industries, architectural segment accounted for the largest market share of 55.1% in 2017 with a market value of USD 78001.9 million.
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Paints and Coatings Market Regional Analysis:
The market in North America is expected to grow in spite of strict regulatory laws implemented by the government. The demand for paints and coatings in North America market will come as a response to the growing demand for residential houses and its renovation. The concentration of established corporate houses dealing in paints and coatings in the region can also be credited for the growth of the market. The growth rate of 3% will be registered in the North America region.
Europe market will expand moderately with Germany playing a significant role owing to its prominence in the automobile industry. The industry experts have asserted that there will be a rise in demand for construction of both residential and commercial structures in the region which will steer growth in the paints and coatings market.
RoW market will grow at an average rate due to soaring construction industry in the Middle East. Also, the rapid industrialization coupled with urbanization will lead to a proliferation of the market.
Paints and Coatings Market Segmentation:
By product type, the market for paints and coatings has been segmented into water based and solvent based, powdered and UV. The stringent regulations governing the paints and coatings market will push the demand for water based and solvent based products.
By applications type, the market is segmented into architectural, industrial and marine. The architectural segment is set to witness amplified demand due to the growth of the residential sector. The growth demonstrated by the industrial segment can be ascribed to the rapid developments in industrialization.
Paints and Coatings Market Competitive Dashboard:
The key profiles holding prominent positions in the market have been profiled by MRFR which includes AkzoNobel N.V, Sherwin-Williams Company, Valspar Corporation, Axalta Coating Systems Ltd, BASF SE, PPG Industries Inc., RPM International Inc., Kansai Paint Co. Ltd, Henkel AG & Co., and, Asian Paints Limited. The top-notch players strategize proceedings such as innovative product development, tie-ups with end-user industries, mergers & acquisitions, construction of manufacturing plants for increased production, etc. for gaining traction.
BASF has launched a new product line in Europe for its R-M®, and, Glasurit® refinish paint brands that makes refinishing of automotive more sustainable. The product line contributes towards a reduction in carbon dioxide emissions as it is the world’s first refinish product to be manufactured according to the certified biomass balance approach.
Paints and Coatings Market Table of Content:
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
Paints and Coatings Market Table of Content to be Continue…….,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/paints-coatings-market-854
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