The Paints & Coatings Market is expected to grow at > 5.2% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Paints & Coatings Market
Paints & Coatings Market is likely to witness an impressive CAGR of 5.2% during the forecast period. The prime factor contributing to the demand for paints & coatings is mainly the growing demand from end-use industries such as architectural, general industrial, protective, and automotive & transportation, which in turn, is driving the growth of the market.
Asia-Pacific is expected to be the largest market. The high share is attributed to the growing economy and expanding construction industry. Rapid urbanization especially in China and India will augment the regional growth. . North America is anticipated to offer significant growth opportunities over the forecast period, with the US being the major country.
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Market Scope & Market Segmentation
Paints & Coatings Market Share: By Resin Type
Based on the resin type, the market is segmented as acrylic, alkyd, epoxy, polyester, polyurethane, and others. The acrylic segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The significant share of acrylic segment is attributed to resistance to weathering & oxidation and availability of a variety of high-gloss colors. Utility of acrylic for outdoor applications coupled with its moderate price will augment the segmental growth over the forecast period.
Paints & Coatings Market Share: By End-Use Industry Type
Based on the end-use industry type, the market is segmented as architectural and industrial. The architectural segment accounted for the larger share by application in 2019, owing to government focus on residential construction especially in China and India.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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