Breaking Down the Costs: A Closer Look at the Paints and Coatings Industry

Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The global Paints and Coatings Industry was estimated at 48.16 million tons in 2022 and is anticipated to increase at a significant CAGR of 3.2% from 2023 to 2030.

Grand View Research’s paints & coatings sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Powder Coatings Market Insights

The global powder coating market size was valued at 8.52 million tons in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030. The emerging economies of Asia Pacific and MEA regions have witnessed strong growth in non-residential sectors including consumer goods, IT, telecom, and retail resulting in growth in product demand. The growing number of consumer goods companies in India, China, and Singapore is expected to augment market development in the near future. Powder coatings have numerous advantages over other coatings, such as lower operating costs, immediate availability, negligible VOC emission, excellent appearance, and uniform thickness. In addition, they are relatively easy to apply in thick layers of coating, which results in a smooth, uniform appearance.

A rise in the production of automobiles and the surge in demand for medical devices are expected to be major factors driving the market growth in developing nations including India, China, Brazil, and Mexico over the forecast period. Moreover, high product adoption in the furniture sector on account of its excellent performance, low operational costs, color availability, and custom properties, such as anti-corrosion and anti-bacterial functions, will stimulate market growth.

Paints & coatings is among the most heavily regulated industries in the world. There are a large number of players operating in the global paints & coatings market across the globe. With technological advancements, various new coating technologies have been introduced. These technologies include waterborne coatings, powder coatings, radiation-curable coatings, and high-solid coatings, among a few others.

Order your copy of the Free Sample of “Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Waterborne Coatings Market Insights

The global waterborne coatings market size was valued at 18.92 million tons in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.4% from 2023 to 2030. The growth is driven by the fostering of construction activities across the globe. Rising construction activities on account of rapid industrialization and urbanization across the globe are anticipated to drive product demand over the projected period. The excessive shift in coatings trend from low or high-volatility organic solvents to complete solvent-free coatings that have fewer emissions is likely to contribute to the growing demand for waterborne coatings in residential as well as commercial coating applications. Interior and exterior wall paint formulations mainly rely on waterborne coatings.

Waterborne coatings are expected to witness an increase in demand from automobile applications due to which the coating manufacturers are investing in research & development to reduce manufacturing costs and, thus, reduce the price of their coatings. Operators working in automobile OEM & refinishing companies are expected to follow compliance to switch from solvent-borne to waterborne coatings systems. Conventional solvent-borne coatings contain about 84% VOC content and 16% solids. Typical waterborne coatings contain about 70% water, 20% solids, and 10% solvent. Waterborne coatings for automobile applications include fewer VOCs, which reduces health-related risks. The product is used for multiple hues & stripping has an advantage as they use a less clear coat to even out the surface for different layers.

These aforementioned factors are expected to increase product demand in automobile applications. On the other hand, the COVID-19 pandemic disrupted industry growth on the account of a temporary shutdown of construction activities, automobile manufacturing sites, and many other facilities due to imposed global lockdown for an uncertain period of time. The industry further sustained a major hit by the pandemic due to disruption in the supply chain caused by the international border restrictions. The pandemic caused a slight slump in market growth; however, it is anticipated to bounce back owing to the rapidly growing construction activities across the globe.

Go through the table of content of Paints and Coatings Industry Data Book to get a better understanding of the Coverage & Scope of the study

Paints and Coatings Industry Data Book Competitive Landscape

The global paints & coatings market is heading toward major consolidations to increase efficiency, support growth, and achieve more leverage with suppliers and customers.

Key players operating in the Paints and Coatings Industry are:

• PPG Industries, Inc.
• Akzo Nobel N.V.
• The Sherwin-Williams Company
• Axalta Coating Systems, LLC
• Jotun

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. 

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter

Positive Outlook towards the Automotive Sector drives Paints and Coatings Industry by 2030

Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The economic value generated by the Paints and Coatings industry was estimated at approximately 48.16 million tons in 2022 and is expected to grow at a CAGR of 3.2% by 2030

Grand View Research’s paints & coatings sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Access the Global Paints and Coatings Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Powder Coating Market Growth & Trends

The global powder coating market size is expected to reach USD 24.27 billion by 2030, registering a CAGR of 3.9% from 2023 to 2030, according to a report by Grand View Research, Inc. The market is expected to witness significant growth over the forecast period primarily owing to the superior properties of powder coatings over conventional paints including high resistance to corrosion and chipping & abrasion, durability, cost-effectiveness, excellent finishing, and reduced processing time.

Growing purchasing power, high living standard, and rapid urbanization are expected to drive the consumer goods sector, thereby driving product demand for use in applications, such as refrigerators, washer tops and lids, air-conditioner cabinets, water heaters, range housings, dishwashers, microwave oven cavities, and freezer cabinets.

Asia Pacific is estimated to register the fastest CAGR of 8.2%, in terms of revenue, over the forecast period. Increasing demand for consumer goods, such as washing machines and refrigerators, in emerging countries like India, China, Vietnam, the Philippines, and Thailand is expected to boost the regional market growth. Growing demand for automotive in emerging economies of Asia Pacific coupled with favorable FDI norms by the governments is expected to facilitate investments in the region.

North America was the third-largest regional market, in terms of revenue, in 2022. The rapid expansion of the automotive industry in the U.S. and concerns regarding VOC emissions released from the coatings used in automobile production are expected to boost the demand for powder coatings.

Order your copy of the Free Sample of “Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Waterborne Coatings Market Growth & Trends

The global waterborne coatings market size is expected to reach USD 89.35 billion by 2030, registering a CAGR of 3.4% over the forecast period, as per the new report by Grand View Research, Inc. The growth is attributed to the rapid increase in construction activities across the globe. In addition, the growing demand for automobiles is also a major factor influencing product demand. Rapid urbanization is considered a key factor responsible for the growth of the market. Rising migration to tier-2 and tier-1 cities are creating lucrative growth opportunities for the construction and automobile industries globally. Increasing utilization of waterborne coatings in such applications is likely to propel the market growth over the foreseeable future. The architectural application segment is expected to have high penetration due to increasing construction & infrastructure activities in Asia Pacific and the Middle East.

Increasing application scope in the architectural industry, such as interior & exterior walls, doors, trims, and facades, is expected to further drive the industry. Stringent government rules restricting Volatile Organic Compound (VOC) emissions and solvent content are also among the key factors boosting the demand for waterborne coatings in the architectural industry. High demand for acrylic waterborne coatings in automotive and infrastructure on account of properties, such as gloss and color retention in external exposure,will support market growth over the forecast years. Acrylic modified Polyurethane (PU) coatings are excessively consumed in automotive finishing owing to excellent exterior durability. PU coatings are widely used owing to intrinsic properties, such as abrasion resistance, toughness, and chemical & weather resistance.

Polyurethane coatings are commercially available in oil modified, two components, moisture curing, and lacquers forms. Increasing PU coating demand in various end-use industries including electrical coils and automotive manufacturing is expected to positively influence market growth. The COVID-19 pandemic resulted in a sharp decline in the waterborne coatings revenue due to the shutdown of the industry for over six months. In addition, the pandemic slowed-down the industrial activities globally on the account of prolonged lockdowns across all continents. This has negatively impacted the industry growth, as a result, the market witnessed a slump in revenue in the year 2020.

Go through the table of content of Paints and Coatings Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Paints and Coatings industry are:

• RPM International, Inc.
• BASF SE
• Henkel AG & Company, KGaA
• Kansai Paint Co., Ltd.
• Nippon Paint Holdings Co., Ltd.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter

Paints and Coatings Industry Type Estimates, Revenue Drivers and Restraint Analysis

Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

Grand View Research’s paints & coatings sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Access the Global Paints and Coatings Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Powder Coating Market Report Highlights

The global Powder Coating Market size was valued at USD 8.52 million tons in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030.

• Epoxy-Polyester (Hybrid) is expected to be the fastest-growing resin type segment during the forecast period
• Consumer goods dominated the application segment in 2022 due to high demand for domestic appliances in emerging countries, such as India, China, Vietnam, the Philippines, and Thailand
• The global market is fragmented. In terms of revenue, the top market players collectively held over 40% of the overall share in 2022
• Key players are striving to gain a higher market share with new product developments and advancements in the manufacturing technology
• However, at present, the pricing structure of market participants is nearly the same and there is not much difference in product attributes

Order your copy of Free Sample of "Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Waterborne Coatings Market Report Highlights

The global Waterborne Coatings Market size was valued at USD 18.92 million tons in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2023 to 2030.

• Acrylic resin type will register the fastest growth rate from 2023 to 2030 owing to high product demand in automobile and infrastructure applications
• PU will be the second-fastest-growing resin type from 2023 to 2030 due to the wide product usage in automobile application
• The architectural application will register the highest CAGR from 2023 to 2030 due to the growing infrastructural activities across the globe
• Automotive OEM is likely to record the second-fastest CAGR from 2023 to 2030 owing to the product demand in automotive and related applications across the globe
• Asia Pacific will witness the highest CAGR from 2023 to 2030 due to the growing infrastructural and architectural activities as a result of the rising population
• The industry is highly competitive due to the presence of a large number of manufacturing companies

Go through the table of content of Paints and Coatings Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

The global paints & coatings market is heading toward major consolidations to increase efficiency, support growth, and achieve more leverage with suppliers and customers. Market consolidation has become a long-term trend, particularly in the western market, with limited organic growth. For instance, the Americas market has been consolidating for decades, wherein key players are entering mergers & acquisitions to complement the strong organic growth and increase efficiencies through scale or improved processes.

Key players operating in the Paints and Coatings Industry are:

• PPG Industries, Inc
• Akzo Nobel N.V.
• The Sherwin-Williams Company
• Axalta Coating Systems, LLC
• Jotun
• RPM International, Inc.
• BASF SE
• Henkel AG & Company, KGaA
• Kansai Paint Co., Ltd.
• Nippon Paint Holdings Co., Ltd.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter

Paints and Coatings Industry Value Addition and Profit Margin Analysis Report by 2030

The global paints and coatings industry size stood at USD 48.16 million tons in 2022 and will exhibit a CAGR of 3.2% from 2023 to 2030, according to the "Paints and Coatings Industry Data Book, 2023 - 2030," published by Grand View Research. Favorable policies to minimize VOC, along with surging demand from oil & gas, construction and automotive industries, will reinforce the market growth. Producers have emphasized improving corrosion resistance, gloss retention and limiting emissions of hazardous air pollutants (HAPs) amidst soaring raw material and solvent costs.

An uptick in the construction industry has seen architectural coating grow in stature across advanced and emerging marketplaces. Lately, commercial, residential and institutional buildings have sought water- and solvent-based architectural coating to underscore their environmental profiles. Moreover, the do-it-yourself (DIY) trend could encourage consumers to protect, preserve and enhance the interiors and exteriors of buildings.

Order your copy of the Free Sample of "Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030" Data Book, published by Grand View Research

Powder coating technology has gained ground with the rising penetration of the automobile, construction and furniture markets. Predominantly, the emergence of electric vehicles from Tesla, Audi, GM, Hyundai, Toyota and Nissan, among others, has strengthened the position of powder makers. EV original equipment manufacturers (OEMs) seeking sustainability (zero-emission coatings and coatings having no-to-low VOC) are likely to inject funds into the landscape. The global powder coatings market generated USD 8.52 million tons in 2022 and will exhibit a 3.9% CAGR during the forecast period. The growth outlook is partly due to the demand for sustainable solutions and the prevention of corrosion across business verticals.

Forward-looking companies have upped focus on waterborne paints and coatings on the back of rigorous environmental regulations. The low level of VOC, durability, and performance have made these paints sought-after among manufacturers. Some of the upsides, such as better color retention, higher temperature resistance, tremendous adhesion, low odor and less flammability, have made water-based formulations favorable for paints and coatings. The waterborne paints and coatings market size was valued at USD 18.92 million tons in 2022 and could depict a CAGR of 3.4% through 2030.

Go through the table of content of Paints & Coatings Industry Data Book to get a better understanding of the Coverage & Scope of the study

Trends and opportunities that are likely to steer the industry growth are delineated below:

• Smart paint and antimicrobial coating are poised to be the next big things following the technological advancements in touchscreens and gesture commands. The latter gained ground on the back of the COVID-19 pandemic, compelling manufacturers to invest in technology to help negate lethal microbes.
• Stakeholders expect solvent-borne coatings to be sought-after in the industrial and architectural sectors for better functionality and reduced drying time. Besides, physical properties, including viscosity, boiling point, conductivity and surface tension, have augured growth for solvent coating.
• The Asia Pacific market will witness notable growth against the backdrop of the flourishing construction industry across China and India. In addition, automotive paints and coatings have observed bullish demand, prompting industry leaders to expand their regional penetration.

The U.S. and Canada are poised to provide opportunities galore with industrial paints and coatings gaining ground across oil & gas, construction, automotive, aerospace, mining, marine, electronics and home appliances applications. For instance, marine coatings are sought-after on Navy ships to enhance anti-fouling and anti-corrosive properties. The paints and coatings industry in North America has emerged as a happy hunting ground to enhance aesthetic appeal, performance enhancement and durability. Of late, technology-powered paints & coatings have become more sustainable and resilient, suggesting their indispensable role in North America's infrastructural developments.

The competitive landscape indicates incumbent players could inject funds into organic and inorganic strategies, including innovation, research & developments, product offerings, technological advancements, partnerships, mergers & acquisitions and geographical expansion. To illustrate, in April 2022, Akzo Nobel completed the acquisition of Grupo Orbis to bolster its footprint in the Latin America market. In August 2022, PPG announced pouring USD 11 million to increase the powder coating capacity by two-fold in Mexico.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter