Paints and Coatings Market by Resin (Epoxy, Acrylic, Polyester, Alkyd, Polyurethane, Others), by Product Type (Waterborne, Solvent Borne, Powder Coatings, UV Coatings, Others), by Application (Architectural, Automotive OEM, Marine, Coil, General Industries, Protective Coatings, Automotive Refinish, Industrial Wood, Packaging, Others), by North America (U.S., Canada, Mexico), by Europe (Germany, U.K., France, Italy, Spain, Russia, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Indonesia, Rest of Asia Pacific), by Latin America (Brazil, Rest of Latin America), by Middle East & Africa (Saudi Arabia, South Africa, UAE, Rest of the Middle East & Africa) Forecast 2024-2032
The Paints and Coatings Market size was valued at USD 206.56 USD Billion in 2023 and is projected to reach USD 281.10 USD Billion by 2032, exhibiting a CAGR of 4.5 % during the forecast period. The chemical industry responds to the paints and coatings market demand, which offers a wide range of products for anything decorative, protective, and functional, where it is needed i. e. , construction, automotive, aerospace or marine. Functioning with adhesion, durability, and chemical, weather resistance, & corrosion resistance to different colours, finishes, & formulations comes in different varieties. These are usually used in the field of architecture, automotive refinishing, industrial equipment coating and marine applications and comprise water-based, solvent-based, powder coatings and special types of coatings such as anti-graffiti and fire-retardant coatings. Through the innovation of nanotechnology and eco-friendly formulations, the last thing that is achieved is the improvement of the above factors (primarily the reduction of VOC emissions) for better indoor air quality. This ever-changing market is a centre for research and development, which is developed along with the technological ones and the changes in regulations.
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February 2023: AkzoNobel Powder Coatings introduced the Interpon Futura Collection, which includes three new, on-trend colour palettes such as Merging World, Healing Nature, and Soft Abstraction. The collection emits no solvents or volatile organic compounds and contributes to AkzoNobel's overall sustainability program.
February 2023: PPG agreed to acquire the powder coatings division of Arsonsisi, an industrial coatings company situated in Milan, Italy. Arsonsisi is a prominent producer of architectural and industrial speciality powder coatings.
February 2023: H.B. Fuller Company acquired Apollo, the U.K.’s independent manufacturer of liquid adhesives, coatings, and primers for the roofing, industrial, and construction industries.
August 2021: PPG introduced PPG ENVIROCRON PCS P4 powder coatings for architectural, home décor, and furniture applications. This latest generation of powder coatings meets the increased demand for matte and premium-textured surfaces in applications ranging from aluminium and steel substrates for building construction to urban and office furniture.
June 2021: AkzoNobel acquired paints and coatings maker Grupo Orbis. This strategic acquisition will allow AkzoNobel to expand its position in South and Central America.
December 2020: Jotun launched its Jotacote Universal S120 primer to the global market in the North East Asian and West European markets. Jotacote Universal S120 is the world’s first PSPC-approved single-coat, solvent-free system.
The comprehensive report on Paints and Coatings Market provides detailed insights into:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 4.5% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 4.5% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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