The report “Paints & Coatings Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Fluoropolymer, Vinyl, Polyester), Technology (Waterborne Coatings, Solvent-borne Coatings, Powder Coatings), End Use (Architectural, Industrial),Region – Global Forecast to 2029″, is projected to reach a market size of USD 227.5 billion by 2029 from USD 194.5 billion in 2024, at a CAGR of 3.2%. The Asia pacific is one of the prominent consumers of paints & coatings across the globe. Currently, the requirement for paints & coatings is growing tremendously for automotive, packaging, construction, electronics, and others. The growth of the emerging economies as China, India, Brazil and Mexico among others contribute significantly for the development of the global paints & coatings market.
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• 592 Market data Tables
• 67 Figures
• 452 Pages and in-depth TOC on “Paints & Coatings Market – Global Forecast to 2029″
Some of the prominent key players are:
Jotun A/S (Norway) and many more….
Akzo Nobel N.V. (Netherlands),
PPG Industries Inc. (US),
The Sherwin-Williams Company (US),
Axalta Coating Systems LLC. (US),
Driver: Environmental regulations boosting the demand for VOC-free coatings
One of the most significant developments in the coatings industry over the past ten years has been the growing demand for environmentally friendly features. This trend has been largely driven by strict EU regulations pertaining to the reduction of volatile organic compound (VOC) emissions throughout the coating life cycle. This has caused a shift in consumer demand from solventborne coatings to more environmentally friendly goods like powdered and aqueous paints and coatings.
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Epoxy resin type segment holds the largest share in the overall industrial paints & coatings market during the forecast period in terms of value.
Epoxy resins are used in the production of adhesives, plastics, paints, coatings, primers, sealants, floors, and other construction and building products. Epoxies are used in the paints & coatings business to form insulating and protective layers for maritime vessels, satellite systems, spacecraft, and airplanes. Epoxy is a reliable anchor in a variety of applications, including fastening handrails, rebar, and bolts into concrete. Epoxy resins are valuable in a variety of sectors because they may be used as adhesives, laminating resins, grinding wheel coatings, fire-retardant coatings, and insulating materials. Their resistance to heat stress and water makes them very good in preventing corrosion.
Asia Pacific region is likely to be the fastest growing paints & coatings market during the forecast period.
Rapid urbanization and industrialization in Asia-Pacific are increasing demand for a wide range of sectors, including EV automotive vehicles, packaging, aerospace& defence, marine, construction, and medical & healthcare. The expansion of industrial activities in nations such as China, India, Japan, and South Korea has raised the demand for paints & coatings. In addition, significant infrastructure development projects, notably in India and China, are propelling up demand in the building & construction industry for bonding, sealing, insulation, and surface protection. Technological advancements in paints and coatings tailored to meet the needs of diverse industries are expected to fuel market growth in this domain.