Key Findings
The global paints & coatings market is anticipated to grow with a CAGR of 6.22%, during the forecast period of 2021 to 2028. The key market growth drivers include the increased demand from automotive OEM and aftermarket, and the growing infrastructure and construction industry.

Market Insights
Paints entail liquefiable, liquid, or mastic composition, which converts into a solid film after application to a substrate in a thin layer. They are primarily used to color, protect, and provide texture to objects. Paints can either be manufactured or purchased in multiple colors and diverse types, like synthetic, and watercolors, among others. On the other hand, a coating is characterized by a covering applied to an object’s surface, typically referred to as the substrate. It serves the purpose of either decoration or functionality, or both.
With growing customer expenditure, in addition to the growing population across regions such as the Asia Pacific, automotive manufacturing has been steadily rising. For instance, developing counties like India, the Philippines, China, and Vietnam, are gradually becoming potential markets for the demand and supply of automobiles, because of various automobile manufacturers establishing their production and assembly plants in such countries. Besides, the growth can also be accredited to the availability of favorable raw material prices, affordable labor, and the surging urban populace. Moreover, leading car manufacturers like, Chevrolet, Audi, Daimler, Volvo, Jeep, and Kia, have either instituted their manufacturing facilities, or are proposing the introduction of new facilities, thereby fueling the market growth.

Regional Insights
The global paints & coatings market growth is assessed by evaluating the Asia Pacific, Europe, North America, and the rest of the world. The Asia Pacific is projected to harbor the largest market share over the forecast period, owing to factors such as, the surging demand from the automotive industry, and the rapidly growing housing construction activities, especially in emerging economies.

Competitive Insights
The firm concentration ratio across the global market is high. The rising consolidation, integrated with consistent innovations for developing next-generation products with minimal carbon and solvent content, intensifies the competition. As a result, industrial rivalry is set to remain high during the forecast period.
Some of the distinguished companies operating in the market are, RPM International Inc, Akzo Nobel NV, Jotun Group, The Sherwin-Williams Company, PPG Industries Inc, etc.
Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation cater to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments