ResearchAndMarkets.com has added a new report titled “Global Markets and Advanced Technologies for Paints and Coatings.” The global paints and coatings market was valued at $194.0 billion in 2023 and is projected to grow to $263.2 billion by 2029, with a compound annual growth rate (CAGR) of 5.2% from 2024 to 2029.
Market Analysis
The report segments the global paints and coatings market by technology, chemistry, and end use, providing a detailed analysis at both global and regional levels. The base year for this analysis is 2023, with forecasts extending through 2029, expressed in revenue (U.S. dollars, million).
A significant trend in the industry is the shift in production from developed regions, such as Europe and the U.S., to emerging economies like China and India. This transition is driven by growing demand from both developed and developing countries, as industrial growth in these emerging markets becomes a major driver for the coatings industry. The overall expansion of the coatings market is also influenced by factors such as economic activity levels and the state of the construction industry, a major consumer of paints and coatings.
Current Trends and Innovations
The market for paints and coatings is experiencing growth across various applications, boosting overall market value in many regions. Contrary to expectations, the market for solvent-borne paints and coatings has remained stable, further enhancing total market value. Notably, the powder coating and emerging technology segments are witnessing the highest growth, spurred by new technological advancements and increasing regulatory pressures concerning pollution control and environmental factors.
Powder coating technology is being widely adopted across various applications, while solvent-borne technologies are gradually being replaced by more environmentally friendly waterborne coatings, particularly in North America and Europe. In developing countries, solvent-borne coatings still dominate due to cost considerations.
High-solids and radiation-cured technologies are also gaining traction, as they are seen as less polluting alternatives to solvent-borne technologies. The publisher has adjusted market forecasts for solvent-borne coatings downward due to these ongoing shifts.
Report Highlights
- 92 data tables and 41 additional tables
- Overview of global markets and advanced technologies for paints and coatings
- Analysis of market trends, including historical revenue for 2023, estimated figures for 2024, and forecasts through 2029
- Discussion on the integration of nanotechnology and its potential for durable and functional coatings
- Identification of new opportunities, challenges, and technological advancements in the industry
- Market share analysis by technology, chemistry, end use, and region
- Insights into R&D activities, product launches, and the regulatory landscape
- Profiles of key market players, including Akzo Nobel N.V., Asian Paints Ltd., Axalta Coating Systems, PPG Industries Inc., and The Sherwin-Williams Co.
Featured Companies
- 3M
- Akzo Nobel N.V.
- Asian Paints
- Axalta Coating Systems
- BASF SE
- Dow
- Henkel AG & Co. KGaA
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co. Ltd.
- PPG Industries Inc.
- RPM International Inc.
- The Sherwin-Williams Co.
Key Topics Covered
- Chapter 1: Executive Summary
- Market outlook, scope of the report, and summary.
- Chapter 2: Market Overview
- Definition of the market, composition, and value chain analysis.
- Chapter 3: Market Dynamics
- Drivers, opportunities, and challenges in the industry.
- Chapter 4: Regulatory Landscape
- Analysis of relevant regulations.
- Chapter 5: Emerging Technologies
- Innovations and advancements in paints and coatings.
- Chapter 6: Market Segmentation Analysis
- Breakdown by technology, chemistry, and end use.
- Chapter 7: Competitive Landscape
- Market competitiveness and strategic analysis.
- Chapter 8: Sustainability in the Paints and Coatings Industry
- Importance of ESG metrics and current trends.
- Chapter 9: Appendix
For further details, visit ResearchAndMarkets.com.
