The Business Research Company’s Paints And Coatings Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON , UK, July 15, 2021 /EINPresswire.com/ — According to the new market research report Paints And Coatings Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the global paints and coatings market is expected to grow from $199.87 billion in 2020 to $216.9 billion in 2021 at a compound annual growth rate (CAGR) of 8.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $258.45 billion in 2025 at a CAGR of 4%. Growth in end-user industries is expected to drive the paints and coatings market during the forecast period.
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The paints and coatings market consists of the sales of paints and coating by entities (organizations, sole traders or partnerships) that mix pigments, solvents, and binders into paints and other coatings, such as stains, varnishes, lacquers, enamels, shellacs, and water-repellent coatings for concrete and masonry, and/or produce allied paint products, such as putties, paint and varnish removers, paint brush cleaners, and frit.
Trends In The Global Paints And Coatings Market
Biocides are being used in paints to enhance their longevity and to maintain their quality. Biocide additives have been designed to protect paints from getting damaged during storage or to keep fungi and algae from growing on the applied paints. The market for biocides in paints will continue to grow due to the switch from solvent based to water based paints as they are not hazardous for human health and environment, and minimize fungal and algae growth. However, replacement of traditional biocides based on chlorine and formaldehyde with environmental friendly biocides add to the costs of paint production.
Global Paints And Coatings Market Segments:
The global paints and coatings market is further segmented based on type, application, type of resin, performance range and geography.
By Type: Water Borne Coatings, Solvent Based Coatings, Powder Coatings, Other Paints And Coatings
By Application: Architectural, Automotive, Wood, Packaging, Aerospace, Others
By Type of Resin: Acrylic, Polyurethanes, Polyesters, Epoxy, Alkyd, Others
By Performance Range: Commodity Coating Range, Engineering Coating Range, High-Performance Coating Range
By Geography: The global paints and coatings market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global paints and coatings market, accounting for 55% of the market in 2020.
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Paints And Coatings Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides paints and coatings global market overviews, analyzes and forecasts market size and growth for the global paints and coatings market, paints and coatings global market share, paints and coatings global market players, paints and coatings global market segments and geographies, paints and coatings global market’s leading competitors’ revenues, profiles and market shares. The paints and coatings market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Paints And Coatings Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Paints And Coatings Market Organizations Covered: PPG Industries Inc, The Sherwin-Williams Company, AkzoNobel N.V, Dow Chemical, RPM International Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Paints And Coatings Global Market Report 2021:
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