Paints & Coatings Market Statistics, Size, Share, Expert Review, Segment, Trends and Forecast - 2030

  Paints & Coatings Market size is projected to grow from USD 184 Billion in 2021 to USD 212 Billion by 2026, at a CAGR of 2.9%, according to a new report by MarketsandMarkets™. Growing demand for Paints & Coatings due to the boost in environmental regulations for VOC-free coatings.

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Drivers: Environmental regulations boosting the demand for VOC-free coatings

New rules and regulations such as the Eco-product Certification Scheme (ECS) are set by the European Commission and other Federal government agencies. These regulations ensure a green and sustainable environment with minimum or zero harmful VOC emissions. Also, the regulations on lead control in household and Paints & Coatings were implemented in 2016, after the Quality Council of India (QCI), Pollution Control Board Authorities, and the National Referral Centre for Lead Projects in India (NRCLPI) strongly recommended to the Government of India (GOI) to fix lead content below 90 ppm for all decorative and household paints. These regulations encourage Paints & Coatings manufacturers to invest in bio-based raw materials within paints & coatings, making the Paints & Coatings more eco-friendly. In addition, government regulations in the US and Western Europe, especially concerning air pollution, will continue to drive the adoption of new, low-polluting coating technologies.

Restraints: Requirement of more drying time for waterborne coatings

There is more time required for drying and curing of waterborne coatings than that of the solventborne coatings. In addition, waterborne coatings have excellent flow properties that change with humidity, affecting the coating application. During high humidity, water does not easily evaporate, resulting in poor cure and a decrease in performance. Waterborne coatings are also sensitive to freezing conditions. Many waterborne coatings are not usable after freezing.

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Opportunities: Increasing applications of fluoropolymers in the building & construction industry

In the building & construction industry, fluoropolymers such as polyvinylidene difluoride (PVDF) are used in both industrial as well as architectural coatings. PVDF is used especially in architectural applications, where both excellent appearance and substrate protection have to be maintained for a long period. PVDF is the most preferred fluoropolymer since it has enough solvency in ester and ketone solvents and the same can be formulated into solvent dispersion coatings.

Challenges: Stringent and regulatory policies

With the increasing number of regulatory policies adopted by various governments, paints & coatings producers have to constantly improve their processes to comply with the new policies. Products that fail to meet the legal requirements are not allowed in the countries that have strict environmental regulations, especially in Western Europe and North America.

Unfortunately, some legislators continue to limit emission values based only on the concentration of VOC in the exhaust gasses. This can lead to approval for high mass emissions from processes which require high airflows as against low mass emissions, which need only very low airflows. The concentration approach also ignores the reduced atmospheric emissions when low-VOC coatings are used.

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Asia Pacific is the largest Paints & Coatings market during the forecast period.

Asia Pacific encompasses a diverse range of economies with different levels of economic development and multiple industries. The development of the market is mainly attributed to the high economic growth rate followed by heavy investment across industries, such as automotive, consumer goods & appliances, building & construction, and furniture. Key players are expanding their pa ints and coatings production in Asia Pacific, especially in China and India. The advantages of shifting production to the region are the low cost of production and the ability to better cater to the emerging local markets.

Paints & Coatings Companies

The key players profiled in the Paints & Coatings market report are AkzoNobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams (US), RPM International (US), and Nippon Paint (Japan).

The Sherwin-Williams Company is one of the global leaders in manufacturing, developing, distributing, and selling paints, coatings, and related products to professional, industrial, commercial, and retail customers. Sherwin-Williams organizes its businesses into three operating segments: paint stores group, consumer brands group, and performance coatings group. The company offers paints & coatings through all three segments. The paint stores group delivers professional architectural paints, some protective, and marine coatings via direct stores in the Americas. Consumer brands group supplies DIY/retail architectural paints, stains, wood finishes, and sprays through retailers worldwide. Performance coatings group provides specialized high-performance coatings for industrial wood, coil/extrusion, packaging, protective & marine, automotive refinish, and aerospace markets globally.

PPG Industries, Inc. is a global leader in paints, coatings, optical products, specialty materials, glass, and fiberglass. The company operates its business through three reportable segments, namely, performance coatings, global architectural coatings, and industrial coatings. It offers paints & coatings through all three segments. The Global Architectural Coatings segment primarily provides a range of decorative paints, finishes, stains, adhesives, sealants, paint strippers, and related chemical products. Performance coatings deliver refinish, aerospace, protective, marine, and traffic solutions for transportation and infrastructure. Industrial coatings supplies OEM automotive, packaging, coil/extrusion, and general industrial finishes worldwide. The company features over 150 manufacturing facilities and invests significantly in R&D through its primary Coatings Innovation Center in Allison Park, Pennsylvania, which now includes increased laboratory and testing space along with upgraded equipment to enhance technical capabilities for developing and testing advanced paint and coatings solutions.

Table Of Content:

CHAPTER 1. Industry Overview of Paints & Coatings Market
CHAPTER 2. Research Approach
CHAPTER 3. Market Dynamics And Competition Analysis
CHAPTER 4. Paints & Coatings Analysis
CHAPTER 5. Paints & Coatings Market By Product
CHAPTER 6. Paints & Coatings Market By Type
CHAPTER 7. Paints & Coatings Market By Technology
CHAPTER 8. North America Paints & Coatings Market By Country
CHAPTER 9. Europe Paints & Coatings Market By Country
CHAPTER 10. Asia-Pacific Paints & Coatings Market By Country
CHAPTER 11. Latin America Paints & Coatings Market By Country
CHAPTER 12. Middle East & Africa Paints & Coatings Market By Country
CHAPTER 13. Player Analysis Of Paints & Coatings Market
CHAPTER 14. Company Profile