Axiom MRC Added an, “Paints and Coatings Market Research Report, By Resin Type, Technology, Application and Geography – Global Market Share, Trend Analysis and Forecast Up To 2024”
The global paints and coatings market was worth US$ 160.5 Bn in 2017 and estimated to be growing at a CAGR of 6.0% from 2019 to 2024, to reach US$ 234.8 Bn by 2024.
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Paints and Coatings Market Analysis:
The basic ingredients used to make paints are binder, solvent, pigment and additives. Solvents are volatile liquid, which is used to obtain proper viscosity and flow of the paint. Many paints many not have solvent. The solvent after usage of paint evaporates to leave a solid dry film on the surface. Binders are known as one of the most vital and necessary paint component. Different types of binder are natural resin, drying oil and synthetic resin. Pigments are granular solids, which provides paint its most vital properties of color and opacity.
There is a huge untouched market for the construction industry in the developing countries, which has been growing every year because of the increasing global population. These aspects are generating demand for construction materials, comprising paints and coatings. The rising population and per capita income has been adding more to the demand for consumer goods and automotive, which in turn is modernizing and boosting industrialization. The metal usage has also improved to a great degree in the last decade. Paints and coatings are chiefly used to shield machines and equipment from rusting and corrosion in industries.
Paints and Coatings Market Segmentation Based on:
By Resin Type:
• Epoxy Resin
• Polyester and others.
• Water-Based Technology
• Solvent-Based Technology
• High Solids
• Powder Coating and others.
• Architectural Application
• Industrial Application.
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Based on geography, the global paints and coatings market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America comprises U.S., Canada, and Mexico whereas Europe would primarily cover Germany, France, UK, Italy, and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report.
By Key Players:
The paints and coatings marketspace comprises major players such as AkzoNobel N.V., Asian Paints, Kansai Paints, PPG Industries, Axalta Coatings Systems, BASF Coatings GmbH, The Sherwin-Williams Company, Jotun A/S, RPM International, Hempel A/S, and Nippon Paint Holdings Co., Ltd.
About Axiom MRC:
Axiom Market Research & Consulting™ (also known as Axiom MRC), is a full-service market research and data analytics firm, driven by a simple aim of providing key market intelligence to companies to assist them in taking informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc.
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