NEW
YORK, May 14, 2024 /PRNewswire/ -- The
global paints and coatings market size is
estimated to grow by USD 38.25 bn
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of about 4.02% during the forecast
period.
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historic data (2018 - 2022) - Download
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Technology
(Water-based, Solvent-based, and High-solid paints and others),
Resin Type (Acrylic resins, Epoxy resins, Polyurethane resins,
Alkyd resins, and Others), and Geography (APAC, Europe, North
America, Middle East and Africa, and South America)
|
Region
Covered
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Key companies
profiled
|
Akzo Nobel NV, Asian
Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Benjamin Moore
and Co., Berger Paints India Ltd., Diamond Vogel, Dow Chemical Co.,
Dunn Edwards Corp., H.B. Fuller Co., Hempel AS, Jotun AS, Kansai
Paint Co. Ltd., Masco Corp., Nippon Paint Holdings Co. Ltd., PPG
Industries Inc., RPM International Inc., The Sherwin Williams Co.,
Sika AG, and Wacker Chemie AG
|
Key Market Trends Fueling Growth
The paints and coatings market encompasses a wide range of
products, including exterior and interior wall paints, wood
finishes, enamels, marine coatings, architectural paints and
coatings, and various types of resin-based coatings such as
acrylic, alkyd, epoxy, polyurethane, polyester, and solvent borne
or waterborne. Additionally, high-performance coatings like
fluoropolymers, thermoplastic, thermosetting, corrosion protection,
hardness, friction, high-tech, and ceramic coatings are utilized in
industries like aircraft turbine engines, sustainability,
commercial and residential construction, urbanization, low-cost
housing, and general industries. UV coatings, a subset of this
market, offer quick assembly-line benefits and high performance,
with a focus on R&D for scratch and mar resistance. Key players
like BASF SE contribute to this sector through the manufacturing of
multi-functional polyol intermediates for UV-curable coatings.
Despite a nominal market share, UV coatings are projected to
increase in use due to the growing adoption by automotive
OEMs.
Market Challenges
- The paints and coatings market encompasses various industries,
including high-tech coatings, aerospace, and automotive sectors.
Volatile Organic Compounds (VOCs), found in solvent-borne coatings,
are a concern due to their release causing air pollution and smog.
Regulations, such as the US EPA's limits on vapor pressure and
carbon atom content, and Europe's
Solvent Emissions Directive (SED), set thresholds for VOCs in
paints, coatings, adhesives, and sealants. Key product types
include vegetable resin, acrylic, alkyd, epoxy, polyurethane, and
polyester resins, used in architectural, industrial, marine, and
automotive applications. Additionally, waterborne, powder, and UV
coatings, as well as protective, packaging, oil industry, and
pigmented coatings, are subject to VOC regulations for commercial
and residential construction, urbanization, low-cost housing,
commercial construction, healthcare facilities, electric car sales,
and oil consumption.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Segment Overview
This paints and coatings market report extensively covers market
segmentation by
- Technology
- 1.1 Water-based
- 1.2 Solvent-based
- 1.3 High-solid paints and others
- Resin Type
- 2.1 Acrylic resins
- 2.2 Epoxy resins
- 2.3 Polyurethane resins
- 2.4 Alkyd resins
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Water-based- The paints and coatings market
encompasses a wide range of applications, from healthcare
facilities to electric car sales, with significant impacts on oil
consumption, environmental sustainability, and technological
advancements. Pigments, binders, and additives are essential
components, with polymerization playing a crucial role in the
production process. Evaporation of solvents, such as alcohols and
glycol ethers, is a key factor in the application and drying of
exterior wall paints, interior wall paints, wood finishes, enamels,
marine coatings, and high-tech coatings. Fluoropolymers, including
Polyvinylidene difluoride (PVDF), and thermoplastic and
thermosetting resins, such as acrylic resin, alkyd resin, epoxy
resin, polyurethane (PU) resin, and polyester resin, offer various
levels of protection, reflection absorption, and hardness. Solvent
borne coatings, waterborne coatings, and powder coatings cater to
diverse industries, including architectural paints and coatings,
aircraft turbine engines, and high performance ceramics. The
sustainability aspect is increasingly important, with vegetable
resins and other eco-friendly alternatives gaining popularity. The
market continues to evolve, driven by advancements in corrosion
protection, friction, and high-tech coatings, as well as the
reduction of volatile organic compounds. The future of the paints
and coatings industry lies in innovation and the pursuit of
sustainable, high-performance solutions.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The paints and coatings market encompasses a wide range of
products used in various industries for diverse applications.
High-performance ceramics find use in aircraft turbine engines for
sustainability, while acrylic resin, alkyd resin, and epoxy resin
are commonly used in architectural coatings, industrial wood
coatings, marine coatings, automotive OEM coatings, automotive
refinish coatings, and general industries coatings. Coil coatings
and packaging coatings are essential in low-cost housing and
commercial construction. Pigments, binders, and additives are
integral components of these coatings. Evaporation rates influence
the choice of exterior wall paints and interior wall paints. Wood
finishes, enamels, and marine protection use fluoropolymers and
polyvinylidene difluoride (PVDF), while thermoplastic and
thermosetting resins are used in high-tech coatings. Vegetable
resin, polyurethane (PU) resin, and polyester resin are other key
raw materials in this market. Reflection absorption, corrosion
protection, hardness, friction, and other properties are crucial
factors in the selection of coatings.
Market Research Overview
The Paints and Coatings Market encompasses a wide range of
products, including those with water-based and polyurethane
formulations. These coatings are essential for various industries,
such as automotive, construction, and consumer goods. The market is
driven by factors like increasing urbanization, growing demand for
eco-friendly coatings, and technological advancements.
Architectural coatings, automotive coatings, industrial coatings,
and special purpose coatings are the major segments. Key players in
this market focus on research and development to create innovative,
high-performance coatings that cater to diverse applications. The
use of advanced technologies like nanoscience and biotechnology is
transforming the industry, offering new opportunities for growth.
The global paints and coatings market is projected to expand
significantly in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Water-based
- Solvent-based
- High-solid Paints And Others
- Resin Type
-
- Acrylic Resins
- Epoxy Resins
- Polyurethane Resins
- Alkyd Resins
- Others
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio