Transparency Market Research (TMR) has
announced the release of a new report on the global paints
and coatings market. The report, titled “Paints and Coatings Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013 - 2019”,
states that the market, which had a valuation of US$100.3 billion in 2012, will
reach US$143.9 billion in 2019. This amounts to a 5.4% CAGR from 2013 to
2019.To offer a holistic view of the global paints and coatings market, the TMR
report covers an impact analysis of factors that will impact the overall market
on a global and regional level during the forecast period.
The report states that the paints and coatings
market has been growing exponentially due to rapid industrialization and steady
recovery of the global economy. The expanding building and construction sector
and demand for paints and coatings from other industry verticals is
accentuating growth of the global paints and coatings market.
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Growing demand for paints and coatings for
industrial applications acts as a key factor that stimulates the overall demand
for epoxy resins. Increasing focus towards bio-based epoxy resins is
anticipated to create several growth opportunities for the global epoxy resins
market. This TMR report segments the global epoxy resins market on the basis of
application and geography. On the basis of application, this market is
categorized into adhesives, electrical and electronics, construction,
composites, wind energy, paints and coating, and others. Plastic tooling, eye
glasses, handbags, metal protection, and vinyl gloves are the other areas of
application in the global epoxy resins market. Epoxy resins are applied
extensively in the production of switchgears, generators, motors, and
electrical laminates that are used in insulators.
Paints and coatings serve two functions, viz. protection and decoration.
The substances work to increase surface resistance from weathering and rust,
increase the durability of structures, and enhance their aesthetic appeal. The
huge demand for water-borne coatings from these industries has amplified the
growth of the overall paints and coatings market. In 2012, water-borne coatings
registered the highest demand and accounted for 40% of the total demand from
the overall market in the same year. This was mainly due to increasing demand
for water-borne coatings from the residential, aviation, commercial, and
automotive sectors.Additionally, in Asia Pacific, economic growth, rapid
urbanization, and growing manufacturing activities collectively account for
driving demand for paints and coatings. However, discharge of harmful volatile
organic compounds (VOC) from paints and coatings, which are associated with
health and environmental concerns, is anticipated to inhibit the growth of this
market, adds the report.
However, increasing application base of nanocoatings, development of
green coatings, and the expanding paints and coatings market in the Middle East
and North Africa will boost the growth prospects for the global paints and
coatings market in the next couple of years.The paints and coatings industry is
divided into three different markets, namely architecture/decorative,
industrial OEM, and special purpose coatings.According to the report,
residential spaces accounted for the highest demand for paints and coatings in
2012. This is because paints and coatings are extensively used in residential
dwellings such as apartments, independent houses, and bungalows for
architectural, protection, and decoration purposes.
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The commercial and industrial sectors also account for huge demand for
paints and coatings. Of the two, the commercial application segment emerged as
the largest end user of the market and the hierarchy is expected to continue in
coming years.Some of the major participants in the global paints and coatings
market are PPG Industries, BASF SE, AkzoNobel N.V., RPG International Inc., Sherwin-Williams
Company, The Valspar Corporation, and Axalta Coatings System. The major players
are profiled for attributes such as company overview, business strategy,
financial overview, and SWOT analysis.
The
market has been segmented as below:
Paints and
Coatings Market: Product Segment Analysis
·
High solids/radiation cure
·
Powder coating
·
Waterborne coating
·
Solvent-borne technologies
·
Others (including specialty coatings,
etc.)
Paints
and Coatings Market: End-user Analysis
·
Automotive & aviation
·
Medical & healthcare
·
Residential
·
Commercial
·
Others (including other industries, special
purpose, etc.)
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