Global Paints and Coating Market, 2015-2020: By drivers and restrain, Technology, Application, Size & Share
Zion Market Research has published a new report titled “Paints and Coatings (High Solids/Radiation Cure, Powder Coatings, Waterborne Coatings, Solvent Borne Technologies and Others) Market for Automotives & Aviation, Medical & Healthcare, Residential, Commercial and Other End-users: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020.” According to the report, the global paints and coating market was valued at approximately USD 110 billion in 2014 and expected to reach approximately USD 145 Billion by 2020, growing at a CAGR of around 5.0% between 2015 and 2020. In terms of volume, global paints and coating market stood at approximately 35.5 million tons in 2014.
Paints and coating are mainly used for protection and decoration of a surface. Paints and coatings are used to enhance appearance of a surface in architectural sector. Paints and coatings provide better surface resistance from rust and weathering and strengthen the structures. Paints and coatings are widely applied in building & construction as well as automotive industry. Paints and coatings helps to increase durability of the surface on which it is applied. Paints and coatings are mainly classified as solvent-borne, waterborne, radiation cured and powder coatings.
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Key product segments of the paints and coatings industry include solvent-borne, waterborne, radiation cured and powder coatings. Paints and coating market was dominated by waterborne segment and it accounted for around 40% share of the total volume consumed in 2014. With increasing awareness among the end-users regarding environmental concerns, demand for waterborne paints and coatings is expected to go up. Further, it is expected to exhibit moderate growth rate during the forecast period. Solvent-borne is another important segment of the paints and coatings market. Powder coatings are expected to witness fastest growth rate during the forecast period.
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Solvent-borne, waterborne, radiation cured and powder coatings are the major product segments of paints and coatings industry. Waterborne paints and adhesives is one of the leading product segments of paints and coatings market. It accounted for around 40% share of the total volume consumed in 2014. Waterborne paints and coatings are in great demand owing their low VOC emission potential. With increasing awareness among the end-users regarding environmental concerns, demand for waterborne paints and coatings is expected to go up. Further, it is expected to exhibit moderate growth rate during the forecast period. Solvent-borne is another important segment of the paints and coatings market. However, owing stringent regulations it is expected to witness slight decline in its market share during the forecast period.
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Global paints and coatings market is dominated by Asia Pacific. It accounted for around 40% share of the total volume consumed in 2014. Asia Pacific was followed by Europe and North America. Rapidly growing construction and automotive industry in Asia Pacific is expected to drive demand for paints and coating in the years to come.
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Some major players in the market such as AkzoNobel N.V., PPG Industries, Sherwin-Williams Company, Diamond Vogel Paints, Berger Paints, Asian Paints, Dow Corning, KCC Corporation, Axalta Coatings System, BASF SE, The Valspar Corporation, RPG International Inc and others.
This report segments the global market as follows:
Paints and Coatings Market – Product Segment Analysis
- Radiation cured
- Powder coating
- Waterborne coating
- Solvent-borne technologies
- Others (including specialty coatings, etc.)
Paints and Coatings Market – End-user Segment Analysis
- Automotives & aviation
- Medical & healthcare
- Others (including other industries, special purpose, etc.)
Paints and Coatings Market – Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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