Triton Market Research presents the Global Paints and Coatings Market report segmented by technology (Water-borne, Solvent-borne and others), resin type (Acrylic, Alkyd, Polyester, Polyurethane, Epoxy and others), applications (Architectural and Industrial), by geographical region (North America, Europe, Asia Pacific and Rest of World), discussing Industry Value Chain Analysis, Porter's Five Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).
Paints and coatings are chemically formulated products that offer protection to merchandises from damage and enhances their aesthetics and shelf life. Paints, varnishes, lacquers, shellacs and stains are some of the products supplied by the paints and coatings market. The Global Paints & Coatings Market is proliferating mainly because of the growing demand for environment-friendly paints and coatings, increasing usage of corrosion resistant paints and coatings and rising demand from the automotive sector, growing demand in aerospace and marine sector. So, Triton Market Research report on global paints and coatings market depicts that the market is developing at a compound annual growth rate roughly around 5% during the forecast period.
Triton Market Research has best analyze the said market on the basis of technology used for the manufacturing or production, especially, its categorized sub-segment of the water-borne solvent. This is because there have consistently increased consumer awareness about Volatile Organic Compound emissions alongside the many environmental concerns, government and environmental agencies, such as REACH, who are enacting stringent laws to reduce the usage of VOCs in the paints, are increasing the demand for water-based paints or varnishes, etc.
The Asia Pacific has the largest market for paints and coatings products. Also, this region is very rapidly adopting the newly developing products from the said market as there is an increase in construction expenditure and a rise in consumer preference especially in the emerging economies of Asia Pacific region towards eco-friendly products with minimized VOC emissions. Then comes Europe with the second largest market due to the large rate of industrialization and modernization in the region.
The global paints and coatings market is filled with many emerging and leading companies in the current worldwide economy, sustaining through acquired startups and partnership agreements. Some of the companies like PPG, Akzo Nobel, The Sherwin Williams, Valspar, BASF Coatings, Nippon Paints, Axalta Coating Systems, Asian Paints and many others are specifically working for manufacturing paints and coatings end products. These companies are very competitive, and they cater new clients with their rapidly changing needs.
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