Market Trends of Stain Resistant Coatings Industry
This section covers the major market trends shaping the Stain Resistant Coatings Market according to our research experts:
Increasing Application in Buildings & Construction Industry
- Stain resistance is defined as the ability to resist the contamination on the substrate. Stain resistant coatings cover the surface of the building units by using some operational techniques such as brushing, radiating, spraying and troweling, adheres well with the later to create integral protective film that will prolong the service life of buildings.
- These stain resistant coatings have greater application in architectural coatings as it protects the buildings from atmospheric dust, stains due to acidic rains acidic rains and others that forms on the surface of the building over the period.
- The Indian government has announced an investment worth ~USD 28.52 billion for the construction of 100 cities, under the smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion (~USD 28.18 billion), over the coming five years creating scope for the application of these stain resistant coatings.
- Buildings & Construction industry leads in the utilization of stain resistant coatings with China, United States, India, Germany, playing a major role in this market.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for stain resistant coatings during the forecast period. The demand for these coatings are increasing in the region due to the numerous ongoing and upcoming construction projects in countries like China, India and ASEAN Countries.
- Some of the largest producers of stain resistant coatings are located in Asia-Pacific region. Some of the leading companies in the production of stain resistant coatings are PPG Industries, Inc, Berger Paints India Limited, AkzoNobel N.V., Jotun, Nippon Paint.
- The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities, over the next ten years creating a major scope for construction activity thereby increasing the market for stain resistant coatings over the coming years.
- These stain resistant coatings are also used to prevent staining of white and light-colored consumer and mobile electronic devices such as tablets, smartphones and e-readers and other electronic appliances. Production of electronics in the region is also on the gradual rise owing to the establishments of various manufacturing facilities.
- The aforementioned factors coupled with government support are contributing to the increasing demand for stain resistant coatings market during the forecast period.
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