Paints & Coatings Market - Growth, Trends, and Forecast (2019 – 2024)

The market is segmented by Resin Type (Architectural Coating Resin and Others), by End –user Industry (Architectural, Automotive, Wood, Protective Coating, General Industries, Transportation and Packaging), by Technology (Water-borne, Solvent-borne, Powder Coating and UV- cured Coating), and Geography

Market Snapshot

CAGR (new format)

Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

PURCHASE REPORT

Market Overview

The market for Paints & Coatings is anticipated to register a CAGR of 4.13% during the forecast period 2019-2024. The major factors driving the market studied are the continuously growing housing construction activities in emerging economies of Asia-Pacific, and a rise in the automotive production in Asia-Pacific and Europe.

  • The emerging economies, such as China, India, Indonesia, Vietnam, and Philippines, in the Asia-Pacific region have been witnessing a robust growth in construction activities. Robust economic performance in 2017 is expected to further accelerate the growth in housing construction activities in the region, thereby augmenting the growth of the market.
  • With the increasing usage of paints & coatings, the concerns related to VOC emissions has also been increasing in China. In the country, coating, printing ink, and adhesives production enterprises are encouraged to apply for environmental labels and addressed to discontinue production & sale of paints & coatings with high content of VOCs. This is likely to hinder the market’s growth.
  • The activities in the construction sector in Germany is also expected to grow at a high rate, driven by higher demand for residential accommodation. The civil engineering drive by the country’s government is also likely to have a positive impact on the construction growth, which in turn is projected to act as an opportunity for the market in future.

Scope of the Report

The paints & coatings market report includes:

Resin
Architectural Coating Resin
Vinyl Acrylate
Pure Acrylic
Acetate
Styrene Acrylic
Alkyd
Other Resins
Others
Acrylic-based
Epoxy-based
Vinyl-ester
Polyester
Polyurethane
End- user Industry
Architectural
Automotive
Wood
Protective Coating
general Industries
Transportation
Packaging
Technology
Water-borne
Solvent-borne
Powder Coating
UV- cured Coating
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Australia & New Zealand
Rest of asia-Pacific
North America
United States
Canada
mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Spain
Russia
Senelux
Turkey
Nordic
Scandinavian
Poland
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
UAE
Qatar
Kuwait
Iran
Iraq
Rest of Middle East & Africa

Key Market Trends

Increasing Demand from the Architecture Industry

  • Paints and coatings are extensively used in the architectural sector for both exterior and interior applications. Paints and coatings are applied on exterior of the house to not only to give them a new look but also to protect it from blistering summers, freezing winters, soaking rain, and the daily bombardment of UV radiation without fading, peeling away, and cracking. Elastomeric coatings that retain their flexibility and strand etch ability over a wide range of temperatures are becoming popular solutions for homes, worldwide.
  • In China, government spending has been increasing in order to construct affordable housing facilities to cater to the housing demand. In addition, public-private partnership (PPP) projects have also been increasing in the domestic construction sector. With the help of increase in the private funding, about 2,021 PPP projects entered the implementation phase in the first half of 2017.
  • In India, the infrastructure sector has become one of the major focus area for the government. In the government’s budget 2017-18, the construction sector was allotted USD 61.92 billion. The government aims to boost the construction of buildings in the country, for which it has decided to come up with a single window clearance facility, in order to provide speedy approval for the construction projects.
  • All the aforementioned factors, is expected to drive the global market during the forecast period.
Segmentation (new format)

Asia- Pacific region to Dominate the Market

  • China is globally recognized for its architectural boom. The demand for low-cost housing and commercial housing is the reason for its growth in the recent years. China’s real estate sector has been growing rapidly with increased investment by the government.
  • In 2016, property prices in China rose by about 30.0% due to increased activity in the real estate space. The growth in construction is expected to positively affect the paints & coatings market in the country.
  • India’s construction sector has been growing rapidly with increased investment by the government. The Indian government's ‘Housing for All by 2022’ is also a major game changer for the industry.
  • The growth of commercial real estate has been driven largely by service sectors, especially IT-ITeS. The production of Trucks in India recorded a growth rate of 9.9% year-on-year reaching a total of 2, 93,657 in 2016.
  • The production of Light vehicles in India recorded a growth of 7.89% y-o-y reaching a total of 4,143,202 in 2016, which in turn, boosting the demand for automotive coatings. The Indian automotive industry recorded a growth rate of 7.9% y-o-y reaching a total of 4,488,965 in 2016.
  • Japan's housing sector is expected to witness moderate growth, owing to the increased investments over the past few years. Japan was projected to spend USD 61 billion on infrastructure in 2017. Increase in household spending has increased the demand for remodeling of houses. The 2020 Olympics is expected to boost the new commercial construction in the country, thus, driving the market.
regional (new format)

Competitive Landscape

The paints & coatings market is partially fragmented. In terms of market share, few of the major players currently dominate the market. Key players in the paints & coatings market include Akzo Nobel NV, RPM International Inc., BASF SE, Asian Paints, Teknos Group, The Sherwin-Williams Company, Berger Paints India Ltd, Beckers Group, PPG Industries Inc. among others.

Major Players

  1. Akzo Nobel NV
  2. PPG
  3. RPM International Inc.
  4. Nippon Paints
  5. The Sherwin-Williams Company

* Complete list of players covered available in the table of contents below

market concentration (new format)

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Housing Construction Activities in Emerging Economies of Asia-Pacific

      2. 4.1.2 Automotive Production Rise in Asia-Pacific and Europe

      3. 4.1.3 Increase in Furniture Production

    2. 4.2 Restraints

      1. 4.2.1 Rising Environmental Concerns and Regulations in China

      2. 4.2.2 Rise in Prices of Raw Materials in North America

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin

      1. 5.1.1 Architectural Coating Resin

        1. 5.1.1.1 Vinyl Acrylate

        2. 5.1.1.2 Pure Acrylic

        3. 5.1.1.3 Acetate

        4. 5.1.1.4 Styrene Acrylic

        5. 5.1.1.5 Alkyd

        6. 5.1.1.6 Other Resins

      2. 5.1.2 Others

        1. 5.1.2.1 Acrylic-based

        2. 5.1.2.2 Epoxy-based

        3. 5.1.2.3 Vinyl-ester

        4. 5.1.2.4 Polyester

        5. 5.1.2.5 Polyurethane

    2. 5.2 End- user Industry

      1. 5.2.1 Architectural

      2. 5.2.2 Automotive

      3. 5.2.3 Wood

      4. 5.2.4 Protective Coating

      5. 5.2.5 general Industries

      6. 5.2.6 Transportation

      7. 5.2.7 Packaging

    3. 5.3 Technology

      1. 5.3.1 Water-borne

      2. 5.3.2 Solvent-borne

      3. 5.3.3 Powder Coating

      4. 5.3.4 UV- cured Coating

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Australia & New Zealand

        7. 5.4.1.7 Rest of asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 mexico

        4. 5.4.2.4 Rest of North America

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Spain

        6. 5.4.3.6 Russia

        7. 5.4.3.7 Senelux

        8. 5.4.3.8 Turkey

        9. 5.4.3.9 Nordic

        10. 5.4.3.10 Scandinavian

        11. 5.4.3.11 Poland

        12. 5.4.3.12 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 UAE

        4. 5.4.5.4 Qatar

        5. 5.4.5.5 Kuwait

        6. 5.4.5.6 Iran

        7. 5.4.5.7 Iraq

        8. 5.4.5.8 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel NV

      2. 6.4.2 Asian Paints

      3. 6.4.3 Axalta Coating Systems Ltd LLC

      4. 6.4.4 BASF SE

      5. 6.4.5 Beckers Group

      6. 6.4.6 Berger Paints India Ltd

      7. 6.4.7 Brillux GmbH & Co. KG

      8. 6.4.8 Caparol

      9. 6.4.9 Cromology

      10. 6.4.10 DAW SE

      11. 6.4.11 Hempel

      12. 6.4.12 Henkel AG & Co. KGaA

      13. 6.4.13 J.W. Ostendorf

      14. 6.4.14 Kansai Paints Co. Ltd

      15. 6.4.15 KC Corporation

      16. 6.4.16 Mankiewicz Hamburg

      17. 6.4.17 The Sherwin-Williams Company

      18. 6.4.18 RPM International Inc.

      19. 6.4.19 National Paints Factories Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Investments in the Infrastructure & Construction Industry in Emerging Economies

    2. 7.2 Revival of the Construction Industry Europe

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