Low-VOC emulsion processing is used in architectural paints owing to stringent regulations to be an advantage for the global paints and coatings market. The global market is projected to reach more than 62 million tons over the forecast period.
Many architectural paints use sustainable, bio-based or recycled materials like recycled plastic or soy oil to dispose of organic solvents. Products made of plant, forest or marine products are the bio-based products. The Presidential Green Chemistry Challenge Award has acknowledged these inventions.
The availability of air barriers necessary for energy-efficient building enclosures makes architectural coatings a significant factor. Architectural surface air barriers contribute to the demands for energy quality in all green building requirements. Specifically designed low-emitting interior coverings protect the safety and comfort of vulnerable communities, such as school children and hospital patients.
Various drivers contributing in the growth of paints and coatings market comprise of green environmental regulations, increasing construction activities across the globe, and provision of durable coating with good performance as well as aesthetics. In the next few years, an increase in the number of applications for these coatings would likely lead to strong growth.
In terms of technology, the global paints and coating market is segmented into Waterborne Technology, Solvent borne Technology, Powder Coating, Others. Similarly, in terms of application, the global paints and coatings is segmented into Architectural and industrial.
The global Paints & Coatings market is segmented into North America, Asia Pacific, Europe, Central & South America, and Middle East and Africa. Asia Pacific is projected to consumer major amount of the paints and coatings market owing to presence of huge populous countries such as India and China. However, North America and Europe is also projected to show significant demand of paints and coatings over the future period.
Global leaders in this market include AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems LLC, Jotun A/S, Nippon Paint Holdings Co., Ltd, Asian Paints Limited, Kansai Paint Co., Ltd., RPM International Inc., Tikkurila OYJ, Hempel A/S, Berger Paints India Limited, Shalimar Paints, Masco Corporation, BASF Coatings GmbH, S K Kaken Co., Ltd., Beckers Group, Dunn-Edwards Corporation, Tiger Coatings GmbH & Co. KG, SACAL International Group Ltd, Diamond Vogel Paint Company. Vista Paints Corporation. Indigo Paints PVT Ltd, Kelly-Moore Paints. However, volatility in the prices is still the major concern for the global players. R&D activities are currently more focused on finishing techniques than the creation of new pigment molecules
Key segments across Paints & Coatings market
- Type Overview, 2018-2025, (USD Billion) (Million Tons)
- Waterborne Technology
- Solvent-borne Technology
- Powder Coating
- Applications Overview, 2018-2025, (USD Billion) (Million Tons)
- Regional Overview, 2018-2025, (USD Billion) (Million Tons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America