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Paints and Coatings Market - Forecast (2020 - 2025)

  • ID: 3786609
  • Report
  • March 2020
  • Region: Global
  • 107 pages
  • IndustryARC
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Paints and Coatings Market Overview:

According to the International Trade Center (ITC), the trade of iron and steel across the globe was valued to be $428.6 billion worth in 2020. This is attributable to the prevalent application of iron and steel in a broad spectrum of industries. However, iron and steel that are used in industries undergo the process of painting and coating, which protects the metal and alloy from corrosion, thereby reducing the maintenance and replacement costs. Evidently, the increasing trade of iron and steel worldwide is significantly supporting the paints and coatings market that had a market size of $127,855 million as of 2020. Furthermore, the demand for paints and coatings in various industries is projected to escalate with a healthy compound annual growth rate (CAGR) of 4.69% during the forecast period of 2020 to 2025.

APAC has been observing a tectonic shift in the economy owing to the growth in the industrial sector and construction, which is leading to growth prospects in the APAC paints and coatings market. Furthermore, according to the Indian Brand Equity Foundation (IBEF), India is the third largest crude steel producer in 2020. The tons of steel production in India and other parts of APAC leads to an augmented demand for paints and coatings. China, Indonesia, and the Philippines are major industrial regions that contribute to the soaring sales in the paints and coatings market. Moreover, the growing automotive industry in the region has incremented the demand for paints and coatings. In 2020, APAC had the maximum paints and coatings market share of 44%.

Paints and Coatings Market Outlook:

Paints and coatings are materials with properties such as adhesion, wettability, and corrosion resistance that are applied to a surface in order to protect it from corrosion, rusting, and erosion that can lead to surface spoilage. Previously, cave paintings were drawn by using hematite and manganese oxide that were the earliest invention of paints. Paints and coatings are used in a gamut of industries that include construction, automotive, real estate, and others. The paints can be decorative and protective based on the application and the impact of external factors on the surface.

According to the United Nations, the real estate industry will be playing a vital role in the sustainable development goals (SDGs) envisioned by the organization. This is attributed to the population outflow that is anticipated in the future. Subsequently, the new building and construction projects will be leading to an augmented application of decorative or architectural paints and coatings. The key application of paints and coatings is found to be the decorative ones, and the application of the same for architectural purpose is estimated to grow with a steady CAGR of 5.10% through to 2025.

Paints and Coatings Market Growth Drivers:

- The Growth of the Automotive Industry –

According to the International Organization of Motor Vehicle Manufacturers (OICA), the total number of vehicles produced in 2020 was 95,634,593. Evidently, motor vehicles are painted or coated with resins that protect the metal from corrosion and rusting. With the advent of electric vehicles, autonomous trucks, and self-driven vehicles and trucks, the automotive industry is poised to observe a seismic shift with an incremented production rate in the future which will further flourish the paints and coatings market, and the industry will observe a definite demand influx which will raise the revenues.

- The Application in Aerospace and Marine Industry

According to the General Aviation Manufacturers Association (GAMA), in 2020, total 2,443 number of aircraft were shipped to various regions in the world. Additionally, the aviation industry witnessed a 4.37% growth in terms of shipment year on year in 2020. Evidently, these aircraft are painted or coated with paints for protection from corrosion, and these paints are expensive, which shoots up the valuation of paints and coatings market. Similarly, the increasing trade across the globe is leading to an amplified application of paints and coatings on the surface of ships. Due to the enhanced trade, ships travel more than before which instills corrosion of the surface at a faster rate. This creates a need for the sporadic application of paints and coatings for maintenance purpose which again drives the paints and coatings market.

- The Semiconductor Industry Supporting the Market –

The semiconductor market was valued to be $426.4 billion in 2020, and the demand for semiconductors is estimated to grow with a substantial CAGR of 5.88% during the forecast period of 2020 to 2025. These semiconductors are nowadays coated with a particular kind of spray paint, which imbues properties such as magnetic response and electrical conductivity. Given that the semiconductor market is poised to observe growth, the vendors in the paints and coatings market will subsequently witness opportunities.

Paints and Coatings Market Trends –

  • In June 2019, Sherwin Williams completed the acquisition of Valspar for $113 per share and became the global paints and coatings market leader.
  • In December 2019, PPG Industries Inc. announced to acquire the global coatings manufacturer Whitford Worldwide Company in order to diversify its product portfolio.
  • In November 2019, AkzoNobel agreed to acquire V.Powdertech business in order to position the company in the middle-east paints and coatings market.
  • In March 2020, Nippon Paints USA completed merger agreement with Dunn-Edwards which is one of the major manufacturers of industrial, architectural, and high performance paints.

Paints and Coatings Market Challenges –

Despite the large and lucrative paints and coatings market size, the industry is facing challenges due to economic dynamism in Europe, North America, and other parts of the world. The political changes are making an impact on the economy which is affecting the paints and coating industry worldwide. Furthermore, the climatic changes and greenhouse emissions are leading to global warming which is altering the temperatures in each part of the world. The composition of paints and coatings and drying time of the same largely depends on the temperature. This shift in temperatures is making it imperative for vendors to alter the modus operandi and come up with a new range of products compatible with changing temperatures. However, this challenge doesn’t seem to bother the sales of paints and coatings, but the future will certainly warrant an increased investment in R&D in order to produce better paints and coating materials.

Paints and Coatings Market Key Players Perspective –

The major players striving to capitalize on the demand for paints and coatings are Sherwin Williams Company, PPG Industries Inc., Akzo Nobel NV, RPM International Inc., Nippon Paints Holdings Co., Ltd., Axalta Coatings Systems, BASF Coatings GmbH, Asian Paints Limited, Kansai Paints Co., Ltd., The Jotun Group, Hempel Group, and Others.

Paints and Coatings Market Research Scope:

The base year of the study is 2020, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the paints and coatings market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The paints and coatings market research report also analyses the application of paints and coatings in decorative/architectural, automotive OEM, and other segments.

Paints and Coatings Market Report: Industry Coverage

This report also documents the paints and coatings market based on formulation that can be high solids water borne, and others) and by component that include one component and two component.

Paints and coatings contain resins that include alkyd, epoxy, and the report provides insights for each segment of resins.

The paints and coatings market report also analyzes the major geographic regions as well as the major countries in these regions.

The regions and countries covered in the study include:

  • North America: The U.S., Canada, Mexico
  • South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
  • Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
  • APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
  • Middle East and Africa: Israel, South Africa, Saudi Arabia

Key Questions Addressed in the Paints and Coatings Market Report

  • Is the market demand for paints and coatings growing? How long will it continue to grow and at what rate?
  • Which type of home security system presents the major growth opportunities?
  • Is there a possibility for change in the market structure over time?
  • Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
  • Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
  • What are the short-term, long-term, and medium-term growth drivers for the market?
  • What are the short-term, medium-term, and long-term challenges for the market?
  • What are the short-term, medium-term, and long-term opportunities for the market
  • Who are the top players/companies of the market?
  • What are the recent innovations in the market?
  • How many patents have been filed by the leading players?
  • What are the types of patents filed by the leading players?
  • What is our Vision 2030 for the paints and coatings market?

A Few Focus Points Of This Research Are Given Below:

  • Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
  • Provide an overview of the product portfolio, including product planning, development, and positioning
  • Discuss the role of technology companies in partnerships
  • Explore the regional sales activities
  • Analyze the market size and giving the forecast for current and future global paints and coatings market during the forecast 2020–2025
  • Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures

Please Note: The report is to be delivered in 1-2 working days after an order is placed.
Note: Product cover images may vary from those shown
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1. Paints and Coatings Market - Market Overview
1.1. Definitions and Scope

2. Paints and Coatings Market - Executive Summary
2.1. Market Revenue, Market Size and Key Trends By Company
2.2. Key Trends By Type of Application
2.3. Key Trends Segmented By Geography

3. Paints and Coatings Market - Comparative Analysis
3.1. Comparative Analysis
3.1.1. Product Benchmarking – Top 10 Companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value Split By Top 10 Companies
3.1.4. Patent Analysis - Top 10 Companies
3.1.5. Pricing Analysis

4. Paints and Coatings Market - Startup Companies Scenario
4.1. Top 10 Startup Company Analysis By
4.1.1. Investment
4.1.2. Revenue
4.1.3. Market Shares
4.1.4. Market Size and Application Analysis
4.1.5. Venture Capital and Funding Scenario

5. Paints and Coatings Market - Market Forces
5.1. Market Drivers
5.2. Market Constraints
5.3. Market Challenges
5.4. Porter’s Five Force Model
5.4.1. Bargaining Power of Suppliers
5.4.2. Bargaining Power of Customers
5.4.3. Threat of New Entrants
5.4.4. Rivalry Among Existing Players
5.4.5. Threat of Substitution

6. Paints and Coatings Market - Strategic Analysis
6.1. Value Chain Analysis
6.2. Opportunities Analysis
6.3. Product Life Cycle Analysis
6.4. Suppliers and Distributors

7. Paints and Coatings Market - By Formulation (Market Size - $Million/$Billion)
7.1. Market Size and Market Share Analysis
7.2. Application Revenue and Trend Research
7.3. Product Segment Analysis
7.3.1. High Solids
7.3.2. Water Borne
7.3.3. Solvent Borne
7.3.4. Powder Based
7.3.5. Others

8. Paints and Coatings Market - By Component (Market Size - $Million/$Billion)
8.1. One Component
8.2. Two Component
8.3. Others

9. Paints and Coatings Market - By Resin (Market Size - $Million/$Billion)
9.1. Alkyd
9.2. Epoxy
9.3. Acrylic
9.4. Polyurethane
9.5. Polyester
9.6. Vinyl
9.6. Others

10. Paints and Coatings Market - By Application (Market Size - $Million/$Billion)
10.1. Decorative/Architectural
10.2. Automotive OEM
10.3. Aerospace
10.4. Marine
10.5. Packaging
10.6. Auto Refinish
10.7. Other Industrial
11 Paints and Coatings Market - By Geography (Market Size - $Million/$Billion)
11.1 Paints and Coatings Market - North America Segment Research
11.2 North America Market Research (Market Size - $Million/$Billion)
11.2.1 Segment Type Size and Market Size Analysis
11.1.2. Revenue and Trends
11.1.3. Application Revenue and Product Analysis
11.1.4. North America Product Type and Application Market Size
11.1.4.1. U.S.
11.1.4.2. Canada
11.1.4.3. Mexico
11.3 Paints and Coatings Market - South America Segment Research
11.4 South America Market Research (Market Size - $Million/$Billion)
11.4.1 Segment Type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Product Analysis
11.4.4 South America Product Type and Application Market Size
11.4.4.1 Brazil
11.4.4.2 Argentina
11.4.4.3 Colombia
11.4.4.4 Rest of South America
11.5 Paints and Coatings Market - Europe Segment Research
11.6 Europe Market Research (Market Size - $Million/$Billion)
11.6.1 Segment Type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Product Analysis
11.6.4 Europe Product Type and Application Market Size
11.6.4.1 Germany
11.6.4.2 France
11.6.4.3 Italy
11.6.4.4 Spain
11.6.4.5 Russia
11.6.4.6 U.K.
11.6.4.7 Rest of Europe
11.7 Paints and Coatings Market - Asia-Pacific Segment Research
11.7.1 Asia-Pacific Market Research (Market Size - $Million/$Billion)
11.7.2 Segment Type Size and Market Size Analysis
11.7.3 Revenue and Trends
11.7.4 Application Revenue and Product Analysis
11.7.5 Asia Pacific Product Type and Application Market Size
11.7.5.1 China
11.7.5.2 India
11.7.5.3 Japan
11.7.5.4 South Korea
11.7.5.5 Rest of Asia-Pacific
11.8 Paints and Coatings Market - Rest of the World Segment Research
11.8.1 Rest of the World Market Research (Market Size - $Million/$Billion)
11.8.2 Segment Type Size and Market Size Analysis
11.8.3 Revenue and Trends
11.8.4 Application Revenue and Product Analysis
11.8.5 Rest of the World Product Type and Application Market Size
11.8.5.1 Middle East
11.8.5.2 Africa
12 Paints and Coatings Market - Market Entropy
12.1. New Product Launches
12.2. M&As, Collaborations, JVs, Partnerships
13 Paints and Coatings Market - Market Share
13.1 Market Share Analysis
13.2 Market Share By Country - Top Companies
13.3 Market Share By Region - Top 10 Companies
13.4 Market Share By Type of Application - Top 10 Companies
13.5 Market Share By Type of Product/Product Category - Top 10 Companies
13.6 Market Share at Global Level - Top 10 Companies
13.7 Best Practices for Companies
14 Paints and Coatings Market - Key Company List By Country
15 Paints and Coatings Market - Company Analysis
16 Market Share, Company Revenue, Products, M&As, Developments
16.1 PPG Industries
16.2 Sherwin-Williams
16.3. AkzoNobel N.V.
16.4 Nippon Paint Holdings Co. Ltd.
16.5 RPM International Inc.
16.6 Axalta Coating Systems LLC
16.7 BASF S.E.
16.8 Kansai Paint Co. Ltd.
16.9 Jotun Group
16.10 Asian Paints Ltd.

17. Paints and Coatings Market - Appendix
17.1. Abbreviations
17.2. Sources

18. Paints and Coatings Market - Research Methodology
18.1 Research Methodology
18.1.1 Company Expert
18.1.2 Industry Database
18.1.3 Associations
18.1.4 Company News
18.1.5 Company Annual Reports
18.1.6 Application Trends
18.1.7 New Products and Product Database
18.1.8 Company Transcripts
18.1.9 R&D Trends
18.2 Key Opinion Leaders Interviews
18.3 Supply and Demand Trends
Note: Product cover images may vary from those shown
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