As environmental awareness grows, so does the demand for
sustainable solutions. Solvent-free coatings, with their reduced
emissions and eco-friendly properties, have become a focal point in
the paint and coatings industry
BOSTON, July 17,
2024 /PRNewswire/ -- 'According to the latest BCC
Research study, the demand for 'Global Markets and Advanced
Technologies for Paints and Coatings' is expected to grow from
$203.8 billion in 2024 and should
reach $263.2 billion by 2029, at a
compound annual growth rate (CAGR) of 5.2% from 2024 to 2029.'
![BCC_Research_Logo BCC_Research_Logo](https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg)
The global paints and coatings market is segmented by
technology, chemistry, and end-use, with a comprehensive analysis
at both global and regional levels. The base year for this analysis
is 2023, with market estimates and forecasts provided from 2024
through 2029 in terms of revenue (U.S. dollars, million). By
technology, the market is divided into water-borne, solvent-borne,
powder coatings, UV cure, and emerging technologies such as
nano-coatings/smart coatings, vapor permeation technology, thermal
barrier technology, and others. Chemically, the market includes
acrylic, epoxy, polyurethane, alkyd, polyester, vinyl, and others
like silicone, urea-formaldehyde, and phenolic resins. End-use
segments consist of architectural and industrial coatings.
The following factors drive the global market for paints and
coatings:
Automotive Industry Demand: The automotive sector drives
the demand for paints and coatings due to the need for enhanced
vehicle aesthetics, corrosion protection, and customization.
High-quality coatings improve vehicle appearance, protect against
rust, and allow for personalized finishes. They also improve
performance by reducing drag and enhancing fuel efficiency, while
reflective coatings increase safety by enhancing visibility at
night. Stricter environmental regulations encourage the development
of eco-friendly coatings, and the rise of electric vehicles (EVs)
necessitates specialized coatings for battery protection and
thermal management.
Architectural Coatings Demand: Architectural coatings are
essential for buildings, homes, and infrastructure, driven by the
construction boom, which increases the need for coatings. These
coatings enhance aesthetics, protect surfaces, and extend their
lifespan by providing weather resistance. They also contribute to
energy efficiency through cool roof coatings and improve indoor air
quality with low-VOC paints. The demand for sustainable coatings
aligns with green building certifications, and coatings are vital
for building renovations and maintenance, ensuring continued
protection and appeal.
Request a Sample Copy of The global market for paints
and coatings Report.
Report Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2023
|
Forecast Period
considered
|
2024-2029
|
Base year market
size
|
$194.0
Billion
|
Market Size
Forecast
|
$263.2
Billion
|
Growth rate
|
CAGR of 5.2% from 2024
to 2029
|
Segment
Covered
|
By Technology,
Chemistry, End-Use, and Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, and the Rest of the World (the Middle East and Africa
and South America)
|
Key Market
Drivers
|
• Increasing
demand from the automotive industry
• Increasing
demand for architectural coatings
|
Key Interesting Facts About the global market for paints
and coatings:
Scratch Resistance: Nanoparticles reinforce
coatings, making them more resistant to scratches and
abrasions.
UV Protection: Nanocoating's can block harmful
UV rays, preserving the underlying material.
Self-Cleaning: Nanostructures create
hydrophobic or superhydrophobic surfaces, allowing dirt and water
to roll off easily.
The global market for paints and coatings report includes
in-depth data and analysis addressing the following important
queries:
- What is the projected market size and growth rate of the
market?
The global paints and coatings market is projected
to grow from $194.0 billion in 2023
to $263.2 billion in 2029 at a
compound annual growth rate (CAGR) of 5.2% during the forecast
period.
- What are the key factors driving the growth of the
market?
The key factors driving the growth of the paints and
coatings market include:
• Increasing demand from the automotive
industry.
• Increasing demand for
architectural coating.
- What segments are covered in the market?
The paints and coatings market are segmented based
on technology, chemistry, end-use, and region.
- By technology, which segment will dominate the market by
the end of 2029?
The water-borne coatings segment will dominate the
market by the end of 2029 in terms of value.
- Which region has the highest market share in the
market?
Asia-Pacific holds
the highest share of the market by value. A few of the main factors
propelling the Asia-Pacific market
are several domestic and foreign companies producing paints and
coatings, technological advancements, and increasing construction
and automotive industries' growth across several countries in
Asia-Pacific.
Some of the Key Market Players Are:
- Akzo Nobel N.V.
- Asian Paints
- Axalta
- BASF SE
- Nippon Paint Holdings Co. Ltd.
- PPG Industries Inc.
- The Sherwin Williams Co.
- Browse More Related Reports
Medical Device Coatings: Global Markets: The medical device
coatings market is diverse, with several types of coatings tailored
for specific applications. These include antimicrobial coatings to
prevent infections, hydrophilic coatings for improved lubrication,
drug-eluting coatings for targeted therapy, and anti-thrombogenic
coatings to prevent blood clotting. These coatings are applied to a
range of materials—polymers, metals, and ceramics—and find use in
general surgery, cardiovascular devices, orthopedics, radiology,
dentistry, neurology, and gynecology. Geographically, the market
spans North America, Europe, Asia-Pacific (APAC), and the Rest of the
World.
Global Markets for Conformal Coatings in Electronics: This
comprehensive report delves into the global and regional markets
for conformal coatings and coating equipment. It offers detailed
estimates and forecasts, analyzing industry growth variations
across different regions. Market trends, growth drivers, and
challenges are explored, alongside considerations of the impact of
COVID-19. The study provides market size estimations based on
volume and revenue, with forecasts spanning from 2022 to 2027.
Material types, applications, and end-use segments are covered, and
profiles of major manufacturers are included. Despite
pandemic-related disruptions in 2020, governments worldwide are
implementing measures to mitigate economic slowdowns.
Directly Purchase a copy of the
report with BCC Research.
For further information or to make a purchase, please get in
touch with info@bccresearch.com.
About BCC Research
BCC Research provides objective, unbiased measurement and
assessment of market opportunities with detailed market research
reports. Our experienced industry analysts' goal is to help you
make informed business decisions, free of noise and hype.
Contact Us
Corporate HQ: 50 Milk St. Ste 16,
Boston, MA 02109, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our
media page for access to our market research library.
Data and analysis extracted from this press release must be
accompanied by a statement identifying BCC Research LLC as the
source and publisher.
Logo:
https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/exploring-global-markets-and-cutting-edge-technologies-in-the-paints-and-coatings-industry-302199219.html
SOURCE BCC Research LLC