Paints and Coatings Market by Product Segment (High Solids/Radiation Cure, Powder Coatings, Waterborne Coatings, Solvent Borne Technologies and Others) For Automotives & Aviation, Medical & Healthcare, Residential, Commercial and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 10/29/2014 -- The Industrial Revolution was when the paints and coatings market saw itself as an integral part of the decorative and protective areas that it is used in today. Prior to that, paints were merely used for decorative purposes and in a limited variety. Thomas Child set up the first documented paint mill in 1700. More than a century later, a patented ready mixed batch of paints was produced for the first time in Ohio, United States. An industry that has such a rich history of growth is also showing much promise in the coming years. Constant research to find more effective chemicals for specific purposes in the paints and coatings market will give rise to unique and modern products.
About the Paints and Coatings Market :
It is already understood that the paints and coatings market consists of products that are meant for either protection or decoration. Buildings and constructions occupy the largest area in the paints and coatings market, consuming products intended for both protection and decoration. The automotive industry is next, with an increased emphasis on the protective power of coatings.
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The larger part of the market is involved in the mass production of paints and coatings that find common usage grounds in multiple industries.
Market Segmentation :
The global paints and coatings market has been categorized into segments based on the products, the end user, and the region.
By product, the paints and coats market becomes:
- Powder coating
- Waterborne coating
- High solids/radiation cure
- Solvent-borne coating
- Specialty coatings and others
The end-user market is classified into:
- Medical and healthcare
- Aviation and automotive
- Special purpose, specific industries and others
Special purpose paints and coatings are used for specific purposes as they possess properties such as flame retardants, anti-condensation paints and luminous paints. They are used in various residential and industrial applications. Most end user segments such as automotive, healthcare, and constructions make common use of waterborne paints and coatings.
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The second largest segment in the paints and coatings market is the solvent borne segment. Another segment that is set to show good promise of growth in the near future is that of powder coatings. It is expected to grow due to increasing demand from aviation and automotive, electronics, and medical and healthcare. The high solids and powder coatings segments are expected to grow due to stringent regulatory impositions to protect the environment from the harmful effects of the paints and coatings and their byproducts.
Regional Analysis :
The global paints and coatings market is considered to be growing due to a massive demand from the construction and building industry. A large part of that demand is for the waterborne paints and coatings which has been driving the market for the past few years. The Asia Pacific region has shown an increased activity in manufacturing processes. The VOC content that gets released from paints and coatings have been found to negatively affect the environment, prompting governmental action to regulate or even ban the use of harmful paints. The Middle East and North African paints and coatings market is also expected to grow at a fast pace, creating a regional market base for green coatings and nano-coatings.
Top Companies in the Market :
The paints and coatings market is dominated by players that operate on a global level. The key companies in this market are BASF SE, PPG Industries, AkzoNobel N.V., Axalta Coatings System, and RPG International Inc.
The Asia Pacific market held around 39% of the global paints and coatings market. The end users of the aviation and automotive industry are expected to show an increased demand in Europe and North America. The Rest of the World, especially the Middle East, South America and Latin America, are anticipated to be the fastest growing segment in the coming years.
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