Sep 2, 2020   SOURCE: BusinessWire

Global Construction Paints and Coatings Market Is Estimated to Account For US$ 119,451.1 Mn by End of 2027, Says Coherent Market Insights (CMI)

Construction paints and coatings are varnishes materials such as liquids and powder used on the building exteriors to protect it from harsh environmental factors. Also, construction paints and coatings are used for decorative purposes, and the surface from rust and weathering. Therefore, construction paints and coatings offer protection of walls and equipment exposed to harsh environments.

The global construction paints and coatings market accounted for US$ 76,089.2 Mn in terms of value and 26,821.6 Kilo Tons in terms of volume in 2019.

Market Drivers:

Increasing construction activities around the globe is a prime factor fueling the market growth of the construction paints and coatings. These coatings provide protection layers to the buildings and prevent it from damages, corrosion, and other weather conditions. An increase in the population around the globe coupled with the rise in the urban populations is creating demand for infrastructure which in turn is expected to foster the market growth of the construction paints and coatings.

The growing use of paints in improving the decor of the architectural buildings is surging demand for paints and coatings. Moreover, the growing popularity of the plastic emulsion paints is again expected to foster the market growth of the construction paints and coatings. Furthermore, increasing use of paints to add gloss and color to the surface of the equipment and improve resistance to extremely harsh weather conditions is again expected to accelerate the market growth of the construction paints and coatings over the forecast period.

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Market Opportunities

The increasing adoption of green buildings and products such as green coatings and nano-coatings is projected to bring new market opportunities. This is attributed to growing environmental concerns and innovation in coatings technology. Shifting consumer’s preferences for less toxic paints and coatings that offer high performance and high durability is further driving demand for green coatings. Thus, the growing adoption of the green coatings products is expected to foster the market growth of the construction paints and coatings.

The growing popularity of waterborne paints & coatings due to their eco-friendly nature is expected to offer lucrative growth opportunities in the near future. Waterborne paints & coatings have less environmental impacts as it has less VOC content due to which they are gaining huge demand from the construction industry. Also, advancement in the coatings technology is creating demand for high-quality water-based paints and coatings which is fueling the market growth of the construction paints and coatings.

Market Trends

Increasing consumer spending on the home interior due to growing disposable income is one of the current trends in the market. Technological advancement for product differentiation and growing industrial applications is expected to foster the market growth of the construction paints and coatings. Moreover, increasing investment by the key manufacturer in the development of the novel and innovative coatings products are further expected to propel the market growth of the construction paints and coatings over the forecast period.

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Competitive Landscape:

1. PPG Industries Inc.
2. Sherwin-Williams Company
3. RPM International Inc.
4. The Valspar Corporation
5. Helios Group
6. Dow Corning
7. Asian Paints
8. Deutsche Amphibolin- Werke Von Robert Murjahn Stiftung & Company
9. Axalta Coating Systems
10. Berger Paints India Limited
11. Tikkurila Oyj

Market segmentation:

  • Global Construction Paints and Coating market, By Product Type:
    • High Solids/Radiation Cured
    • Powder Coating
    • Water Borne
    • Solvent Borne
    • Others
  • Global construction paints and coating market, By Application:
    • Architectural Paints
    • Others
  • Global Construction Paints and Coating market, By Region:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • Middle East
      • Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.