PPG Industries Leading $123 Billion Global Paints & Coatings Market

Tuesday 13 February 2018, Amsterdam

According to the new research report "Global Paints and Coatings Market 2012–2022", the global paints and coatings market is forecast to surpass $ 167 billion by 2022 on account of increasing urbanization and industrialization. Moreover, robust development in infrastructure and automotive sector, especially in major developing countries, is also boosting demand for paints & coatings. In addition, with rising environment concerns, there is a growing demand being witnessed for paints & coatings with low volatile organic compounds, which is also positively influencing the demand scenario in the global paints & coatings market.

On the basis of technology, the global paints and coatings market is segmented into two categories, namely, water-based and solvent-based. The water-based paints and coatings segment dominates the global paints and coatings market mainly due to the limited presence or complete absence of harmful organic solvents. Among applications, paints & coatings are extensively used in construction sector on account of the rising number of residential & commercial buildings, globally. Furthermore, with increasing urbanization and rising consumer preference for visually appealing residential buildings, demand for architectural paints is likely to witness surge in demand over the course of next five years. In 2016, Asia-Pacific accounted for the largest share in the global paints and coatings market, especially on the back of rising population leading to surging development of residential spaces. Moreover, growing automotive sector in the region’s major economies like China, India and Japan is further anticipated to proliferate consumption of paints and coatings through 2022.

PPG Industries is the market leader in global paints & coatings market, followed by Akzo Nobel, BASF, and Sherwin-Williams. “Infrastructure development across the globe has significantly augmented demand for paints and coatings over the past few years. Also, with rising environment concerns across the globe, there is a growing demand for water-based paints and coatings that are environment friendly. Furthermore, with anticipated growth in major end-use applications such as construction and automotive sectors, the consumption of paints & coatings would continue to witness an uptrend in the coming years.”, said Mr. Karan Chechi, Research Director.

“Global Paints and Coatings Market By Technology, By Application, By Region, Competition Forecast & Opportunities, 2012–2022” has evaluated the future growth potential of paints and coatings market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global paints and coatings market.