Scienza e Tecnologia
CIS Paints and Coatings Market is projected to expand at 4.1% CAGR over the decade: Persistence Market Research
Demand for paints and coatings is also expected to be influenced by a variety of factors, such as green residue disposal, environmental protection, and so on. Various R&D activities are being carried out in order to introduce low-VOC emission paints in order to save the environment from detrimental metal-based paints and coatings.
The COVID-19 crisis had a significant impact on the performance of CIS economies, prompting them to call for societal lockdowns and the temporary closure of key industries such as manufacturing and services. This had a significant impact on the consumer basket, and spending on commodities was drastically reduced. With that, the ongoing invasion of Russia on Ukraine has heavily impacted the overall market in the CIS region due to disruptions in the supply chain.
The CIS paints and coatings market is a fairly consolidated space with a few players highly active in the market. Some of the key market players included in the report are Henkel Group, Akzo Nobel NV, Kansai Paint Co., Ltd, Jotun Group, Hempel A/S, DAW SE, Fosroc, Russian Coatings, Belzona International Ltd, and Steuler-KCH GmbH.
Key market participants are strategically focusing acquisitions and collaborations to increase their market presence and attain higher market shares. Small and medium manufacturers are focusing on providing cost-effective and value-for-money products to improve their market penetration.
In CIS countries, the construction and automotive industries are important markets for paints and coatings. Increased government focus on expanding investments and rapid industrialization are primary development factors for the CIS paints and coatings sector.
The industrial sector is one of the fastest-growing segments in the paints and coatings market, accounting for more than half of the market. However, due to the pandemic situation, demand from this industry was low in 2020. However, demand began to recover in the first quarter of 2021 and is expected to gain traction in line with its historical growth.
Key manufacturers of paint and coating are concentrating their efforts on research & development in order to produce higher-quality products with long-lasting durability and high efficiency. End users are also expected to prefer water-based paints and coatings over solvent-based paints and coatings due to growing concerns about the emission of volatile organic compounds (VOCs).
Persistence Market Research, a research and consulting firm, has published a new market research report on the CIS paints and coatings market that contains industry analysis of 2017–2021 and opportunity assessment for 2022–2032.
The report provides in-depth analysis of the market through different segments, namely, technology, base, application, and country. The report also provides supply and demand trends along with an overview of the parent market.
:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on "micros" by Persistence Market Research helps companies overcome their "macro" business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies'/clients' shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City , NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Visit Our Website:
Logo: https://mma.prnewswire.com/media/661339/Persistence_Market_Research.jpg