23-Apr-2018 | Zion Market Research
With the presence of a large pool of participants, the Global paints and coatings market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Nippon Paint Holdings Company Limited, Hempel A/S, RPM International, Jotun A/S, Kansai Paints, and Asian Paints are some of the key vendors of paints and coatings across the world. These players across paints and coatings market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the paints and coatings market study.
In a major breakthrough that can leverage the growth of paints and coatings market, in August 2018, Hudson Resources Inc., a development stage mineral firm, declared that it received positive test outcomes while using the firm’s anorthosite in paint and clear coating formulations.
Browse the full "Paints and Coatings Market by Technology (Solvent Base, Waterborne, Powder Coating, Anti-fouling) by Resin (Alkyd, Epoxy, Polyurethane, Acrylic, Ceramic, Intumescent) for Architectural, Industrial and special purpose applications by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023" report at http://www.zionmarketresearch.com/report/paints-coatings-market
As estimated in this report, the global paints and coatings market stood at US$ 155 billion in 2017. Witnessing a meteoric rise during the period from 2017 to 2023, the revenue in this market is expected to reach US$ 214 Billion by the end of the forecast period.
Paints and Coatings Market To Accrue Huge Revenue Via Construction Sector
“Paints and Coatings market is likely to transverse new horizons of growth and procure colossal returns with wide product applications in myriad sectors,” says the author of this study. Apart from this, surging product applications across construction sector to improve resiliency, strength, and durability will further impel paints and coatings market growth in the years ahead. Moreover, prominent use of epoxies in the food sector as well as in packaging of food items to maintain flavor will bolster the growth map of paints and coatings market over the years to come.
In addition to this, massive application of epoxy as insulating and protective primers to build satellite systems, ships, and spacecraft is anticipated to further stimulate growth trends of paints and coatings market in the forthcoming years.
Flourishing Construction Activities To Aid North America Maintain Dominance
Regionally, North America has been leading the worldwide paints and coatings market and is anticipated to continue on the dominant position in the years to come, states the paints and coatings market study. Thriving construction activities across the region is the main factor behind the dominance of the North America paints and coatings market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional paints and coatings market. For the record, public & educational constructions are likely to register a y-o-y growth rate of 6% in 2018 as compared to 2017, while non-residential sector will grow at a rate of 4% in 2018.
The global paints and coatings market is segmented as follows:
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