Expect a USD 28.41 billion Paints and Coatings Market surge (2022-2027) fueled by real estate and construction industry expansion - Technavio

    NEW YORK, NY, December 06, 2023 /24-7PressRelease/ -- Discover the Paints and Coatings Market's projected growth of USD 28.41 billion between 2022 and 2027, with a robust CAGR of approximately 3.15%, as per Technavio. The surge is propelled by the expanding real estate and construction sector, heightened by the global demand for office spaces, commercial buildings, and residential structures. Particularly, the demand for architectural paints and coatings in construction and structural applications is witnessing a notable uptick. Rapid urbanization and infrastructure investments in developing nations further amplify the market's momentum. Gain deeper insights into the historic (2017 to 2021) and forecast market size (2023 to 2027) by requesting a sample report.

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• In-depth coverage of the Russia-Ukraine war, global inflation, COVID-19 recovery analysis, supply chain disruptions, global trade tensions, and the risk of recession.
• Evaluation of global competitiveness and key competitor positions.
• Market presence analysis across geographical footprints - Strong/Active/Niche/Trivial - acquire the report.

Paints and Coatings Market - Segmentation Insight

Segment Overview

Technavio strategically segments the market based on technology (water-based, solvent-based, and others), application (industrial and architectural), resin type (acrylic resins, epoxy resins, polyurethane resins, alkyd resins, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

Anticipate significant market share growth in the water-based segment, driven by its extensive applications in enhancing buildings, offices, fireproofing systems, industries, and factories. These coatings provide protection against ultraviolet radiation, moisture, and microbial damage. Key categories include paints, lacquers, varnishes, primers, and stains.

Geography Overview

The Paints and Coatings Market is geographically segmented into APAC, Europe, North America, South America, and the Middle East and Africa. The report furnishes actionable insights, estimating the contribution of each region to the market's growth.

APAC is expected to contribute 56% to the global market's growth, fueled by automotive manufacturers relocating to cost-effective labor markets and government incentives in countries like Indonesia, Malaysia, and Thailand. India's initiatives also play a crucial role, driving investments. The region's infrastructure growth, especially in China and India, will propel the paints and coatings market, with government-funded projects in China and India attracting foreign investments.

Market Dynamics of Paints and Coatings Market

Leading trends shaping the market include:

• Rising adoption of UV-curable coatings, offering superior performance and rapid assembly-line advantages.
• Focus on R&D for UV-curable coatings with enhanced scratch and mar resistance, exemplified by initiatives from manufacturers like BASF SE.
• Increasing popularity of UV-curable and waterborne coatings crafted from natural, eco-friendly elements for durability, versatility, appearance, and robust weather resistance.
• Widely used in automotive, industrial, wood furniture, metal, and flooring applications, the growing adoption of UV-curable coatings is poised to propel global paints & coatings market growth.

Challenges in Market Growth
Stringent regulations on volatile organic compound (VOC) emissions pose a significant challenge globally, with regulations in the US and Europe imposing limits and fines. These hurdles impact manufacturers and users in the sector.

Key Data Covered in this Paints and Coatings Market Report

• CAGR of the market during the forecast period.
• Detailed information on factors driving growth between 2023 and 2027.
• Precise estimation of market size and its contribution, focusing on the parent market.
• Accurate predictions about upcoming trends and changes in consumer behavior.
• Industry growth analysis across APAC, Europe, North America, South America, and the Middle East and Africa.
• Comprehensive analysis of the market's competitive landscape and vendor details.
• Thorough examination of factors challenging the growth of Paints and Coatings Market vendors.

Related Reports:

Colorants Market: The colorants market size is estimated to grow at a CAGR of 5.97% between 2022 and 2027. The market size is forecast to increase by USD 20.78 billion.

Epoxy Resin Market: The epoxy resin market is estimated to grow at a CAGR of 6.5% between 2022 and 2027. The size of the market is forecasted to increase by 1,226.71 thousand tons.

TOC

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Technology
7. Market Segmentation by Application
8. Market Segmentation by Resin Type
9. Customer Landscape
10. Geographic Landscape
11. Drivers, Challenges, and Trends
12. Company Landscape
13. Company Analysis
14. Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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