The growing real estate and construction industry to drive the market growth
(PRUnderground) November 21st, 2023
The Paints and Coatings Market size is estimated to grow by USD 28.41 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 3.15% during the forecast period. The expanding real estate and construction sector significantly drives the paints and coatings market, driving its growth. With the global growth in real estate and construction, there’s an increased requirement for office spaces, commercial buildings, and residential structures. This surge in demand specifically pertains to architectural paints and coatings utilized in construction and structural applications. Rapid urbanization and infrastructure investments in developing nations further boost the paints and coatings market. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
What’s New?
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report
Paints and Coatings Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on technology (water-based, solvent-based, and others), application (industrial and architectural), 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).
Significant market share growth is anticipated in the water-based segment within the paints & coatings industry during the forecast period. Water-based coatings find extensive application in enhancing the appearance of buildings, offices, fireproofing systems, industries, and factories while providing protection against ultraviolet radiation, moisture, and microbial damage. Paints, lacquers, varnishes, primers, and stains represent key categories of water-based coating products.
Geography Overview
By geography, the Paints and Coatings Market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the Paints and Coatings Market.
The APAC is expected to contribute 56% to the global market’s growth. Automotive manufacturers relocating to APAC due to cost-effective labor, government incentives in countries like Indonesia, Malaysia, and Thailand, while India’s initiatives drive investments. This shift, along with APAC’s infrastructure growth of over 7%, fueled by development focus, industrialization, and projects in China and India, will drive the paints and coatings market in the region. China’s government-funded projects and India’s reforms attract foreign investments, shaping APAC’s market growth.
Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) – Download a Sample Report
Paints and Coatings Market – Market Dynamics
Leading trends influencing the market
- Rising adoption of UV-curable coatings, offering superior performance and rapid assembly-line advantages, marks a significant trend in the paints and coatings market.
- Focus on R&D for UV-curable coatings is a positive development, aiming for enhanced scratch and mar resistance, exemplified by initiatives by manufacturers like BASF SE.
- Despite a currently small market share, the usage of UV-curable coatings is projected to soar, especially driven by adoption among automotive OEMs.
- Increasing popularity of UV-curable and waterborne coatings crafted from natural, eco-friendly elements, prized for durability, versatility, appearance, and robust weather resistance.
- Widely used in automotive, industrial, wood furniture, metal, and flooring applications, the growing adoption of UV-curable coatings is poised to propel global paints & coatings market growth.
Major challenges hindering the market growth
Stringent regulations on volatile organic compound (VOC) emissions in the paints and coatings industry is a significant challenge globally. In the US, regulations enacted in 2021 limit VOC emissions from various products. In Europe, the Solvent Emissions Directive (SED) imposes thresholds for solvents in paints and coatings, with fines for exceeding limits. These stringent regulations present hurdles for manufacturers and users in this sector.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report
What are the key data covered in this Paints and Coatings Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Paints and Coatings Market between 2023 and 2027
- Precise estimation of the size of the Paints and Coatings Market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Paints and Coatings Market industry across APAC, Europe, North America, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Paints and Coatings Market vendors
Related Reports:
Colorants Market: The colorants market size is estimated to grow at a CAGR of 5.97% between 2022 and 2027. The market size is forecast to increase by USD 20.78 billion.
Epoxy Resin Market: The epoxy resin market is estimated to grow at a CAGR of 6.5% between 2022 and 2027. The size of the market is forecasted to increase by 1,226.71 thousand tons.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Technology
- Market Segmentation by Application
- Market Segmentation by Resin Type
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio Research
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
The post Paints and Coatings Market size is set to grow by USD 28.41 billion from 2022-2027 – Technavio first appeared on
Original Press Release.
