(2019 – 2024) Paints & Coatings Market – CAGR GROWTH, TRENDS, ANALYSIS AND FORECAST
Paints & Coatings Market is expected to grow at a CAGR of 4.2% during the forecast period of (2019 – 2024). And report provides complete market overview, list of top manufactures, scope of the report, key market trends of Paints & Coatings market and main aspect about report- why should you buy this research report? so don’t miss it.
Paints & Coatings Market Overview:
The market for paints and coatings is expected to grow at a CAGR of 4.2% during the forecast period of 2019 – 2024. Major factors driving the market studied are rapidly increasing housing construction activities in Asia-pacific. The rise in Prices of Raw Materials is expected to hinder the growth of the market studied.
– Architectural coatings dominated the market in 2018 and the segment is expected to grow during the forecast period owing to the increasing construction activities across the world.
– Growing Investments in the Infrastructure and Construction Industry in Emerging Economies is likely to act as an opportunity in the future.
– Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China, India, and Japan.
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List of Top Key-players/Leading Manufacturers of Paints & Coatings Market:
Scope of the Paints & Coatings Market Report:
Global Paints & Coatings Market is segmented by product type, distribution channel, and region. Based on the product, the market is segmented fruit-based Paints & Coatings and dairy-based Paints & Coatings. Fruit-based Paints & Coatings hold the largest market share and is expected to be the fastest growing segment in the Paints & Coatings market. On the basis of the distribution channel, the market is segmented into supermarkets/hypermarkets, restaurants, smoothie bars, convenience stores, and others. Moreover, the study provides an analysis of the Paints & Coatings market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
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Key Trends of Paints & Coatings Market:
Increasing Demand from Building & Construction Sector
– Paints and coatings are extensively used in the architectural sector for both exterior and interior applications.456- Paints and coatings are applied on exterior of the house, to not only to give them a new look, but also to protect it from blistering summers, freezing winters, soaking rain, and the daily bombardment of UV radiation without fading, peeling away, and cracking.456- Modern advances in paint technology, specifically in the acrylic formulations have offered a wide range of weatherproof coatings.456- Elastomeric coatings that retain their flexibility and strand-etch ability over a wide range of temperatures are becoming popular solutions for homes, worldwide.456- Besides this, paints and coatings are also used in interiors of houses to add colors or decorative purposes, along with a wide range of other functions. Their functions vary depending upon the type of environment and room that they are used on.456- In Asia-pacific, China is expected to witness the highest growth in the construction activities, followed by India.456- In China, government spending has been increasing, in order to construct affordable housing facilities to cater to the housing demand.456- India is likely to witness an investment of around USD 1.3 trillion in housing over the coming seven years, where the country is likely to witness the construction of 60 million new homes. The availability of affordable housing is expected to rise around 70% by 2024, in India. The Indian government’s ‘Housing for All by 2022’ is also a major game changer for the industry.
United States to Dominate the Market in North America
– The United States is the world’s largest and most powerful economy in the world, with a per capita income of USD 55,900 in 2017. The economy’s growth rate was 2.3% in 2017, and in 2018, the GDP grew by 2.9%.456- The construction industry in the United States has witnessed rapid growth in 2017, as a result of increased private sector spending on residential construction. The residential construction in 2016 and 2017 has increased y-o-y by 10.52% and 10.58%, respectively. Residential construction in the country is projected to have a growth of almost 6% in the forecast period (2019-2024), due to an increase in the construction of single and multiple family housing in the country.456- The total number of new residential housing units started in the United States, has recorded growth of 2.62% in 2017 (14,498 thousand houses), when compared to 2016 (14,128 thousand houses) and in 2018, the total number of new residential housing units further increased to 14,989 thousand houses, representing 3.39% growth over 2017.456- According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, from 7,039 in 2016, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircraft per year due, to the existing fleet getting older.456- In 2018, the total value of Aircraft and Parts Shipments in United States reached a total of USD 217.30 billion. Similarly in 2018, the total exports from the aerospace industry reached a total of USD 150.61 billion, with China being the largest export destination.456- Hence, with the rapid increase in demand from the various end-users, the demand for paints and coatings in United States is expected to increase at a significant rate over the forecast period (2019-2024).
Reasons to Purchase Paints & Coatings Market Report:
- The report analyses how the stringent emission control norms will drive the global Paints & Coatings market.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Paints & Coatings market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
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Overview of TOC, what it contains? –
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.2 Distribution Channel
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Most Adopted Strategy
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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