Asia Pacific was the largest market for paints and coatings in 2013. The increasing population, growing need for houses, and consumer goods and automotives are driving the paints and coatings market in the region. In 2010, China surpassed the U.S. to become the largest passenger car market globally.
New York, NY -- (SBWIRE) -- 04/17/2015 -- According to a new market report published by Persistence Market Research "Global Market Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020", the global paints and coatings market was worth USD 121.9 billion in 2013 and is expected to grow at a CAGR of 5.5% during 2014 to 2020, to reach an estimated value of USD 176.5 billion in 2020.
Browse the full Global Market Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020 report at http://www.persistencemarketresearch.com/market-research/paints-coatings-market.asp
The rapid pace of industrial development, growing number of end-use industries, and increasing interest of the global population in architecture are driving the global paints and coatings market.
There is a large untapped market for the construction industry in the developing countries which has been increasing every year owing to the ever increasing global population. These factors are creating demand for construction materials, including paints and coatings. The growing population and per capita income has been fuelling the demand for consumer goods and automotives, which in turn is boosting industrialization. The use of metals has also increased to a great degree in the last decade. Paints and coatings are mainly used to protect machines and equipment from rusting and corrosion in industries. As for consumer goods, they serve the purpose of keeping corrosion at bay and make products look better. Architectural and decorative paints and coatings are used mainly applied on interior and exterior walls of houses and corporate buildings. Based on their formulation, there are basically two types of architectural and decorative paints and coatings: water-based and solvent-based. Based on type, architectural and decorative paints and coatings paints are mainly classified into emulsions and distempers. Distempers are costlier than emulsions and account for lesser market share as compared to emulsions.
Industrial paints and coatings are used by several industries, including machinery manufacturing, automotive, and consumer goods. Based on their formulation, industrial paints and coatings can be segmented into four categories: water-based, solvent-based, powder, and UV-based.
Request Sample Report at http://www.persistencemarketresearch.com/samples/2788
The increasing global population and the growing number of nuclear families escalate the demand for new houses every year, which in turn creates demand for paints and coatings. The increasing market for consumer goods and automobiles is also propelling the growth of the paints and coatings market.
The global paints and coatings industry has moderate degree of competition; however, the industry is moving towards consolidation through large number of mergers and acquisitions taking place in the recent years. Some of the major paints and coatings companies include AkzoNobel N.V., PPG Industries, The Sherwin-Williams Company, RPM International, Valspar Corporation, and Kansai Paint Company.
Below is the segmentation done by Persistence Market Research for global market study on paints and coatings:
1) Market Size and Forecast by Product Segment
Market Size and Forecast
Architectural and Decorative Paints and Coatings
Water-based Architectural and Decorative Paints and Coatings
Solvent-based Architectural and Decorative Paints and Coatings
Industrial Paints and Coatings
Water-based Industrial Paints and Coatings
Solvent-based Industrial Paints and Coatings
Powder Coatings
UV-based Coatings
2_ Market Size and Forecast by Region
North America
Market Size and Forecast by country
Market Size and Forecast by product segments
Europe
Market Size and Forecast by country
Market Size and Forecast by product segments
Asia Pacific
Market Size and Forecast by country
Market Size and Forecast by product segments
Rest of the World (RoW)
Market Size and Forecast by product segments
Visit our blog at http://pmrblog.com/
About Persistence Market Research
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.