Paints Coatings Market Trends and Forecast with Share of Top Companies 2019
Global Paints and Coatings Market: Snapshot
The huge demand witnessed in the building and construction industry is the chief driver of the global paints and coatings market. This, coupled with the increasing demand for waterborne coatings has enabled the paints and coatings market exhibit strong growth, which is expected to continue through the forecast period between 2013 and 2019.
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The global paints and coatings market includes various liquid and power-based paints and varnishes. They primarily serve two purposes, vis-à-vis, enhancing look and ensuring protection. A major share of the demand witnessed in the market arises from the buildings and construction segments as paints and coatings are used to protect the surface they are applied on against weathering and rust, thus improving durability of structures.
Transparency Market Research (TMR) forecasts, the global paints and coatings market to exhibit a CAGR of 5.4% between 2013 and 2019. At this pace, the market will reach from a valuation of US$100.3 bn in 2013 to US$143.9 bn by the end of 2019. The report provides a holistic overview of the global paints and coatings market segmenting it based on diverse parameters. This not only helps provide an executive-level blueprint of the market’s current landscape but is also intended to help market participants identify the most lucrative segments. It thus compiles exhaustive information aimed at helping the readers get a better perspective of the global paints and coatings market.
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Waterborne Coatings to Emerge as the Dominant Product Segment
By product, the demand for waterborne coatings is soaring higher than other segments in the paints and coatings market. The waterborne coatings segment also emerged dominant in 2012, accounting for over 40% of the demand witnessed in the market. The solvent borne technologies trailed closely, emerging as the second-leading product segment in the market. However, stringent regulations with regards to VOCs are likely to hamper growth witnessed in the solvent borne technologies segment over the course of the forecast period. Meanwhile, growth exhibited by the powder coatings segment is expected to pace higher owing to the increasing demand from automotive, construction, and electronics sectors. Besides this, the demand for specialty coatings is expected to remain steady through the course of the forecast period.
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