October, 2016: Selektope company found new active compounds which, when mixed with antifouling coatings helps in killing the marine life attached to the bottom of ships. This breakthrough helps to clean the ships with ease.
Asia-Pacific Paints and Coatings Market was valued at USD XX billion in 2017 and is projected to reach USD XX billion by 2022, at a CAGR of XX% during the forecast period, 2017 to 2022.
Growing demand from infrastructure industry in China and India, rise in demand from automotive industry, increased awareness towards the sustainable products, rise in demand from food packaging sector and lower crude oil prices are driving the Asia-Pacific Paints and Coatings market. However, the market faces certain drawbacks, such as the stringent environmental regulations and decrease in demand from the marine industry. These factors may act as a roadblock to the growth of the market.
Taking just the application into account, Architecture & Decorative hold the largest share of the Asia-Pacific Paints and Coatings market, with water borne being the largest technology based coatings. In terms of growth, automotive OEM and consumer durables applications would fuel the amount of growth in the demand for Paints and Coatings market in Asia-Pacific region.
China has the highest market share, in the value due to superior advancement in the field of paints and coatings. India is the fastest-growing market for paints and coatings industry, due to increase in industrial establishments, and is expected to lead the market through 2022. The following sample chart shows the market share of different technologies in Asia-Pacific Paints & Coatings Market for 2017.
Opportunities and Major Players
Increasing applications of powder coatings and accelerating demand for eco-friendly coatings are expected to offer numerous opportunities for the growth of the Asia-Pacific Paints and Coatings market. In Asia-Pacific region, there are around XX suppliers competing in the sector with the top 10 suppliers accounting for almost XX% of the market.
Some of the major companies dominating this market for its products, services, and continuous product development, include:
Key Deliverables in the Study