Paints and Coatings Market by Resin Type, Technology, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR40247
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The paints and coatings market share is expected to increase by USD 39.68 billion from 2021 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.82%.

This paints and coatings market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (water-based, solvent-based, and others), resin type (acrylic resins, epoxy resins, polyurethane resins, alkyd resins, and others), application (industrial and architectural), and geography (APAC, Europe, North America, MEA, and South America). The paints and coatings market report also offers information on several market vendors, including 3M Co., Akzo Nobel NV, BASF SE, Henkel AG and Co. KGaA, Jotun AS, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., Sika AG, and The Sherwin-Williams Co. among others.

What will the Paints and Coatings Market Size be in 2021?

Download the Free Report Sample to Unlock the Paints and Coatings Market Size for 2021 and Other Important Statistics

 

Paints and Coatings Market: Key Drivers and Trends

The growth of the global automotive industry is notably driving the paints and coatings market growth, although factors such as volatility in raw material prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the paints and coatings industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The growth of the global automotive industry is one of the key factors driving the paints and coatings market growth.
  • Economic growth in emerging countries and rising foreign investments have increased per capita income. As a result, consumers’ capacity to purchase cars has increased.
  • The public transportation infrastructure is transforming along with fleet addition. These factors are increasing paints and coatings activities in the automotive industry.
  • In developed regions, such as North America, the adoption of lightweight and fuel-efficient automobiles has increased. This factor is significantly contributing to the paints and coatings market growth.
  • Vendors are constantly developing paints and coatings that have easy applicability.
  • Vendors are carrying out R&D for developing UV-curable coatings, which exhibit high performance and offer quick assembly-line benefits.
  • Most of the UV-curable coatings offer scratch and mar resistance.
  • BASF offers various multi-functional polyol intermediates for UV-curable acrylic monomers and oligomers manufacturing, which are subsequently used in UV-curable coatings.
  • Vendors are developing eco-friendly coating products to adhere to stringent government regulations.
  • The durability, versatility, appearance, and superior weather-resistance of eco-friendly UV-curable coatings will encourage the growing number of automotive OEMs to adopt them, which is one of the key paints and coatings market trends.

This paints and coatings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Paints and Coatings Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • Akzo Nobel NV
  • BASF SE
  • Henkel AG and Co. KGaA
  • Jotun AS
  • Nippon Paint Holdings Co. Ltd.
  • PPG Industries Inc.
  • RPM International Inc.
  • Sika AG
  • The Sherwin-Williams Co.

 

This statistical study of the paints and coatings market encompasses successful business strategies deployed by the key vendors. The paints and coatings market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The paints and coatings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Paints and Coatings Market?

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54% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for paints and coatings in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The growth in industries, such as construction, automotive, and aerospace and defense will facilitate the paints and coatings market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Technology Segments in the Paints and Coatings Market?

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The paints and coatings market share growth by the water-based segment will be significant during the forecast period. Water-based paints have a low content of volatile organic compounds. Therefore, they are predominantly used in developed countries, such as the US, Germany, the UK, and France, for coating purposes in the automotive and architecture industries. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the paints and coatings market size and actionable market insights on post COVID-19 impact on each segment.

 

Paints and Coatings Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.82%

Market growth 2021-2025

$ 39.68 billion

Market structure

Fragmented

YoY growth (%)

3.51

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 54%

Key consumer countries

China, US, India, Germany, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

3M Co., Akzo Nobel NV, BASF SE, Henkel AG and Co. KGaA, Jotun AS, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., Sika AG, and The Sherwin-Williams Co.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Paints and Coatings Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive paints & coatings market growth during the next five years
  • Precise estimation of the paints & coatings market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the paints and coatings industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of paints and coatings market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The paints and coatings market market growth will increase by $39.68 billion during 2020-2025.
The paints and coatings market market is expected to grow at a CAGR of 4.82% during 2020-2025.
Technavio has segmented the paints and coatings market market by technology (Water-based, Solvent-based, and Others) ,other1 (Acrylic resins, Epoxy resins, Polyurethane resins, Alkyd resins, and Others) , and application (Industrial and Architectural).
3M Co., Akzo Nobel NV, BASF SE, Henkel AG and Co. KGaA, Jotun AS, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., Sika AG, The Sherwin-Williams Co. are a few of the key vendors in the paints and coatings market market.
APAC will register the highest growth rate of 54.11% among the other regions. Therefore, the paints and coatings market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the paints and coatings market market growth are:
  • Growth in the real estate and construction industry
The paints and coatings market market vendors should focus on grabbing business opportunities from the water-based segment as it accounted for the largest market share in the base year.
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