KEY MARKET INSIGHTS
The Global Paints and Coatings Market was valued at USD 184 billion in 2021 and is projected to grow USD 223.2 billion in 2028, at a CAGR of 2.80%.
Paints and coatings are primarily utilized in automotive, coating, transportation, construction and lumber industries. The products are widely used in diverse applications, due to their properties such as anti-friction, hardness, corrosion protection, and protection from environmental factors. These materials are used in the construction and buildings sector to protect from the blistering heat, rain, cold and , and UV radiation.
The increasing population, and their disposable incomes, has facilitated the expansion of the housing segment, thereby propelling residential construction. This may provide a significant boost to the market. The Pradhan Mantri Awas Yojana (PMAY) is an initiative of the Government of India which aims at providing affordable housing to the urban poor by the year 2022.
LATEST TREND
The growing applications of paints and coatings in the architectural sector are driving market growth. Moreover, in emerging economies, the rapid development of commercial and residential buildings has provided lucrative opportunities for the market, during the forecast period.
KEY INDUSTRY PLAYERS
The key players that are profiled in the report include PPG Industries, Inc., (U.S.), Axalta Coating Systems (U.S.), Akzo Nobel N.V., (Netherlands), Kwality Paints & Coatings Pvt. Ltd. (KPCPL) (India), Kansai Nerolac Paints Limited (India), NIPSEA GROUP (Singapore), The Sherwin-Williams Company (U.S.), Jotun (Norway), RPM International Inc. (U.S.), TIKKURILA OYJ (Finland), SK KAKEN CO., LTD. (Japan), and Dunn-Edwards Corporation (U.S.).
LIST OF KEY COMPANIES PROFILED:
PPG Industries, Inc., (U.S.)
Axalta Coating Systems (U.S.)
Akzo Nobel N.V., (Netherlands)
Kwality Paints & Coatings Pvt. Ltd. (KPCPL) (India)
Kansai Nerolac Paints Limited (India)
Nippon Paint Holdings Co., Ltd. (Singapore)
The Sherwin-Williams Company (U.S.)
Jotun (Norway)
RPM International Inc. (U.S.)
TIKKURILA OYJ (Finland)
SK KAKEN CO., LTD. (Japan)
Dunn-Edwards Corporation (U.S.)
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