Scienza e Tecnologia
Coating Pigments Market to Garner USD 41.9 billion by 2032 - Latest Fact.MR Report
NEW YORK , Feb. 2, 2022 /PRNewswire/ -- The global coating pigments market is expected to increase at a CAGR of 5.5% from 2022 to 2032, from USD 24.5 billion in 2022 to USD 41.9 billion in 2032.
Europe will have almost one-fifth of the global coating pigments market, followed by North America , which will hold around one-fourth of the market.
Coating pigments, which are an important component of coatings raw materials, account for more than 30% of total raw material volume. On the back of rapid development in the construction and infrastructure sector, as well as other end-use sectors, coating pigment dominates the global market in terms of value and volume.
New technologies are being introduced by key firms to improve the features and efficiency of coating pigments. Coating pigment demand is being boosted by organic coating pigments. Manufacturers have been drawn to organic coating pigments with improved performance for sustainable products.
There has been an evolution in the formulas of coating solvents, with the goal of achieving better results. Furthermore, coating pigments' current characteristics, such as color variation and effective binding properties, are allowing the coating pigments market to expand. In the foreseeable term, the development of novel coatings solvents is expected to enhance the usage of advanced coating pigments.
The lucrative market for coating pigments in the Asia Pacific area has enticed a number of significant names in the paint and coatings business to relocate their operations there. As a result, East Asia now holds a one-fifth share of the global coating pigments industry.
The development of new products is a prominent trend in the coating pigments industry. Coating pigments producers have boosted their R&D investment, which is reflected in the market's sustained expansion.
Companies are strategically investing in R&D operations in order to spread their manufacturing units across regions in rising economies and gain a new consumer base.
Key Companies Profiled by Fact.MR are –
Fact.MR provides an unbiased analysis of the coating pigments market, presenting forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global coating pigments market with a detailed segmentation on the basis of:
- Coating additives are becoming more and more essential to meet zero-VOC emission standards. Governments all around the world are upping the ante in their efforts to minimize carbon emissions from construction. This has resulted in a significant and rapid shift, which is boosting the market for coating additives.
The building sector is responding to the increase in people migrating to metropolitan areas by developing cheap housing and infrastructure. As a result, demand for diverse equipment and architectural coatings materials is increasing. The need for exterior architectural coatings to protect a structure from moisture, UV rays, and bacteria is growing.
Due to increased demand for glass coatings from various industries such as automotive, aerospace, marine, aviation, building and construction, the worldwide glass coatings market is expected to develop significantly over the forecast period.
- Demand and supply trends in the automotive coatings market are still being driven by coating process innovation and automotive design, with automakers researching materials for building multi-substrate designs and manufacturing light-weight cars.
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