Global Market value of Paints and Coatings was Estimated to be Around 44.1 Million Tons in 2014

Date: 2015-08-19

“The report covers the global paints and coatings and further segments the market on the basis of resin, technology, application, and region. The market data for these market is given with respect to volume (million tons) and value ($million). The global market value of paints and coatings was estimated to be around 44.1 million tons in 2014 and is projected to grow at a CAGR 5.5% between 2015 and 2020. The data mentioned in the report are based on the global demand for paints and coatings.

The paints and coatings has been analyzed based on the Porter’s five forces model. This gives an idea about the current proceedings in the industry at commercial level. The study provides the value chain analysis with respect to the technology providers, paints and coatings producers, raw materials manufacturers, and end-user industries. The value chain describes the key contributors to the paints and coatings at different stages from product development to end use. It represents the top players which are contributing to the global paints and coatings market.

The impact of different market factors, such as drivers, restraints, and opportunities is also illustrated in the report. This gives an idea about the key drivers such as government regulatory support, and increasing paints and coatings market in Asia-Pacific especially in China and India where there is healthy growth in building and construction, industrial and automotive sector. The economic slowdown in Europe and U.S. also affected the economy and the industrial sector of the developed countries.

The global paints and coatings also classified based on different resin type. The important resin type are acrylic, alkyd, epoxy, polyurethane, polyester,and others. The acrylic is  expected to show higher growth in the future due to increasing demand for waterborne coatings in the paints and coatings industry. 

The key companies in this market are Akzo Nobel NV (Netherlands), BASF SE (Germany), PPG Industries Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Nippon Paint Co. Ltd (Japan), and Kansai Paint Co. Ltd. (Japan) and others. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serving the customers more effectively. Investments, Expansions and New Product Launches were the most preferred strategies by the top players in 2013 that were driving the demand of paints and coatings. Their strategy to capture the untapped market in developing economies includes expansion, partnership and investments.

The Asia-Pacific region emerged to be the driving factor for this market, contributing for more than 40% of the global demand in terms of market share in 2013. China is the leading country in the consumption of paints and coatings, due to the increasing industrial sector. The important emerging economies such as Brazil, India, and others are further lined up for a brighter future in this market.

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