Scienza e Tecnologia
Significant Revenue Opportunity from Asia Pacific to boost Paints and Coatings Sales Touching US$ 239 Bn by 2031
Key manufacturers are focusing on reducing their carbon footprint to increase sustainability in their products. They are investing substantial amounts in research & development to provide paint and coating products that emit low volatile organic compounds, by providing bio-based and eco-friendly paints and coatings.
Opportunities for key players in the market include provision of services along with paint and coating products and special focus on remodel/ repaint businesses.
Some other factors driving sales of paints and coatings include surge in low-cost urban housing projects, increased infrastructural construction across regions, and the introduction of innovative formulation technologies in this space.
The global paints and coatings market has been identified as a fairly consolidated market with the presence of local and regional players. Globally, the top ten key players are estimated to dominate the market with more than 50% market share.
Some of the key players include PPG Industries, Sherwin-Williams Company, Axalta Coating Systems, Valspar Corporation, NEI Corporation, Cabot Corporation, RPM International Inc., K Diamond Vogel, NIC Industries, Inc, Akzo Nobel N.V, Hempel A/S, Steuler-KCH GmbH., Henkel Group, Terraco Group,. Fosroc, Belzona International Ltd, DAW SE, Jotun., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd, Berger Paints Ltd, Asian Paints Ltd, Huisins New Material Technology Co., Limited, GUANGZHOU STRONG CHEMICAL CO., LTD, Furukawa Co., Ltd., KCC Corporation, TerraCo. Group, KCC Corporation, and Belzona International Ltd.
Key manufacturers of paints and coatings are focusing on value generating and strategically aligned acquisitions. They are also focusing on implementing alternative distribution channels, such as online sales networks, to further strengthen their market presence in regional as well as the global market.
Persistence Market Research, a research and consulting firm, has published a market research report on the paints and coatings market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, technology, base type, application, and region. The report also provides supply and demand trends, along with an overview of the parent market.
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