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Posts tagged ‘Paints and Coatings Market’

Paints and Coatings Market – Market is expected to grow at a CAGR of 5.5% during 2014 to 2020, to reach an estimated value of USD 176.5 bn in 2020

New York City, New York, Dec 21 , 2015: Persistence Market Research (PMR) has announced the addition of a new report, titled “Global Market Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020”, the global paints and coatings market was worth USD 121.9 billion in 2013 and is expected to grow at a CAGR of 5.5% during 2014 to 2020, to reach an estimated value of USD 176.5 billion in 2020.

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Paints and Coatings Market is expected to grow at a CAGR of 5.5% during 2014 to 2020

New York City, New York, Dec 21 , 2015: Persistence Market Research (PMR) has announced the addition of a new report, titled “Global Market Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020”. According to this report, the global paints and coatings market will be driven significantly by the increasing demand from Asia Pacific. The global paints and coatings market is projected to expand at a CAGR of 5.5% during the forecast period of 2014 to 2020. In 2012, the global paints and coatings market was estimated at US$121.9 billion and in 2020 the market is expected to be worth US$176.5 billion.

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By geography, the global paints and coatings market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific is currently leading the global paints and coatings market, trailed by Europe and North America. Developing markets of Asia Pacific, Eastern Europe, Latin America, and the Middle East are experiencing a boom in their construction sector. The number of projects for constructing new residential and commercial buildings is increasing drastically every year in these regions. This is the primary factor fueling the growth of the Asia Pacific paints and coatings market.

Increasing urbanization and rising disposable incomes are also contributing to the growth of this regional segment of the global paints and coatings industry. Furthermore, the expanding consumer goods and automotive industries in Asia Pacific will also fuel the growth of this regional market. In 2010, China emerged as the largest market for passenger cars, surpassing the U.S. In addition to this, the government in China has been inviting public-private partnership programs in the past few years for various commercial construction projects in the nation. This will also help growth prospects of the market for paints and coatings in China.

Besides China, India is also contributing a great deal to the growth of the Asia Pacific paints and coatings market. The real estate sector in India has grown in the past decade due to the rising per capita income in this nation. Rapidly rising urbanization, along with the entry of several MNCs in this country, has elevated the number of corporate construction activities in this nation. Moreover, the change in the government of India after the 2014 elections has attracted a large number of neighboring nations to develop trade relations, which is projected to boost commerce in the nation and propel the paints and coatings sector in this country.

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The global paints and coatings market will also benefit from the increasing number of construction activities in Malaysia. The implementation of the 10-year economic plan (2011 to 2020) in Malaysia, called the Economic Transformation Program (ETP), has fueled construction activities. Due to this plan, private market sectors and foreign investors in the construction sector are backed by the government. Furthermore, the government in the Philippines announced in 2010 their public-private partnership that facilitates development projects at local and national levels. These trends will fuel the overall Asia Pacific paints and coatings market.

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At present, the global paints and coatings market is experiencing moderate competition. However, the industry is experiencing consolidation as several large companies are adopting M&As as their strategy. The key companies operating in the global paints and coatings market are Sherwin-Williams Company, PPG Industries, AkzoNobel, Valspar Corporation, RPM International, and Kansai Paint Company.

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Paints and Coatings Market – Global Industry Analysis and Forecast to 2020

Paint is any liquid, liquefiable, or mastic composition which when applied to any object in a thin layer, turns or convert to solid film. Paints are commonly used to protect, color and to provide texture to the objects. Paints are available in many colors and types such as watercolor or artificial. Coating is referred to a covering which is applied to the objects with the purpose of decorating or protecting the objects. Coating can be applied to cover the objects partially or completely. Product label on drinks bottles where one side depicts the function of the product and other side has decorative coating in the form of word or images to make the bottles attractive is the best example in current era. Major Industry use thin film coating such as paper, fabric, film, foil or sheet stock to the objects to make it attractive. Paints and coatings market is categorized into water-based paints and coatings (contain water as the paint diluents also contain water-based varnishes, lacquers, enamels, stains, sealers and primers) and solvent-based paints and coatings (contain more than 80% solid constituents (pigments, additives and binders) dispersed or dissolved in the organic solvent such as esters, petroleum distillate and glycol ethers). Water-based paints and coatings lead the global market as it is non-toxic and non-combustible and take lesser drying time as compare to solvent-borne paints and coatings. Major end-user of the paints and coatings industry is automotives & aviation, pharmaceuticals, construction industry (residential or commercial).

Asia-Pacific leads the global paints and coatings market followed by Europe and North America. Asia-pacific accounts for more than two third market share owing to the increasing demand of paints and coating in the developing countries such as India and China. China is expected to show double digit growth rate in coming years.

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