Albany, NY -- (SBWIRE) -- 04/23/2014 -- Paints and coatings market is highly correlated with various end-user sectors like housing, construction, automotive, furniture, and packaging. The global market for paints and coating experienced a healthy growth in 2013 on account of rising construction projects, increase in housing starts, resuming consumer confidence and improvement in industrial production worldwide. While housing and construction markets in North America and Europe remained subdued over the years following the global financial crisis, activity has been strong in Asian markets like China and India. Further many new construction activities are expected to begin in Asia Pacific region that will boost the demand for paints and coatings.
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The paints and coatings industry can be categorized into three markets: architectural/decorative, industrial OEM and special purpose coatings. Architectural coating is the largest segment followed by industrial coatings and special purpose coatings. The industrial coatings segment was driven by rise in industrial production and automotive OEM sector. Geographically, Asia Pacific is the largest consumer of paints and coatings followed by Europe, North America and Latin America. Paint manufacturers are constantly introducing new and technologically advanced products in the market. Companies are focusing on zero VOC (volatile organic compounds) and green paints that are particularly in high demand among the customers. Rising prices of titanium dioxide was a major challenge for the industry in 2013.
Competition in coatings segment is based on formulating products for specific customer applications, meeting customer delivery requirements and providing technical assistance to the customer in product application, new technology offerings and prices. Akzonobel, PPG, Sherwin Williams, BASF and Valspar are the leading companies.
The present report offers a comprehensive analysis of the worldwide paints and coatings market with a special focus on the regional markets including Asia which includes India and China, the US, Latin America and Russia. All the three sub-segments namely architectural, industrial and special purpose coatings are explained in detail. In addition, competitive landscape in each segment like decorative, automotive OEM, industrial, protective and marine coatings along with the company profiles of the leading players in the market is discussed in detail.
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By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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