The factors that are influencing the market growth
are huge demand in the construction industry, due to increase in civil
construction activities globally, as a result of increased urbanization and
healthy economic conditions. The growth in the market is due to advancements in
technology and emergence of new manufacturing technologies. The challenging
factor for the market is lack of product differentiation in the market, the
global paints and coatings market is expected to grow at a compound annual
growth rate (CAGR) of 5.4% and reach US$196.20 billion by 2022 from $128.4
billion in 2014.
Paints and Coatings Market is segmented by type, by
technology, by product and by geography. Depending on the various types, market
is segmented into Architectural/Decorative Coatings, Industrial OEM Coatings
and Special Purpose Coatings. Based on technology, market is classified as
Packaging Coatings, Protective Coatings, Powder Coatings, Transportation
Refinishes and Wood Finishes. Based on product, market is categorized into
High-Solids Paints, Radiation-Curable Coatings, Solvent-borne Coatings and
Waterborne Paints. Based on geography, the market is segmented into North
America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific region is
the fastest growing segment of the global paints and coatings market.
Significant mergers and acquisitions, collaborations, and joint ventures are
the industry trends that are playing a major role for the market growth.
The key players in the Paints and Coatings Market
include Asian Paints Limited, Axalta Coating Systems, BASF Coatings GmbH,
Chugoku Marine Paints, Ltd., Hempel A/S, Kansai Paint Co., Ltd., Nippon Paint
Co., Ltd., PPG Industries, Inc., Sherwin-Williams Company and Valspar
Corporation.
For more information visit: http://www.marketresearchreports.com/stratistics-mrc/global-paints-and-coatings-market-outlook-2014-2022
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browse more Paints Market Research Reports
visit: http://www.marketresearchreports.com/paints
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