Paints & Coatings Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

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Paints and coatings refer to materials with properties such as adhesion, wettability, and corrosion resistance that are applied to a surface in order to protect it from oxidization, corrosion, rusting, exposure, and erosion that can lead to surface spoilage. These materials are used in a variety of industries that include construction, automotive, real estate, and others. These can be decorative and protective based on the application and the impact of external factors on the surface. Paints & Coatings report by xResearch provides market analysis of this industry including market drivers, key players, industry structure and dynamics, business strategies for success, and threats or opportunities.



·        The global paints & coatings market is anticipated to reach USD 196.3 million by 2030, at a CAGR of 4.7% during the forecast period.

·        The major factors contributing to the growth of the market include the high demand from end-use industries, the expanding residential sector in the developing countries, surging product consumption in several industries, rapid urbanization & industrialization, increasing spending on aesthetical appearance for residential as well as and commercial purposes across the globe, and the proliferating demand for powder coatings in shipbuilding and pipeline industries.

·        Moreover, the increasing trade of iron and steel worldwide, the rising demand for automobiles, and the burgeoning demand for high-performance coatings also significantly aid in the expansion of the market.

·        Based on technology, the global paints & coatings market is segmented into waterborne, solventborne, powder coatings, ultraviolet (UV), and others. The waterborne segment is anticipated to lead the market over the forecast period of 2022-2030.

·        Based on resin, the global paints & coatings market is segmented into, acrylic, alkyd, epoxy, polyester, polyurethane, vinyl, fluoropolymer, and others. The acrylic segment held the largest share of the market in 2021. The segment is predicted to maintain its lead over the forecast period.

·        Based on end-use industry, the market is segmented into architectural, industrial, and others. The architectural segment led the market in 2021, followed by the industrial segment. The trend is expected to continue over the forecast period.

·        The Asia Pacific region is expected to showcase highest growth in regional market for paints & coatings during the forecast period.

·        The growing construction activities, surging demand from the automotive sector in the developing countries, including China, India, Japan, and Southeast Asia, increasing number of manufacturing facilities, the fast-paced development of building and transportation projects, especially in China, and the increasing shift in consumer preference from traditional whitewash to enhanced quality paints are the key factors driving market growth in this region.

·        In 2021, China was the largest market for paints & coatings in the Asia Pacific region. The regional dominance is projected to continue over the forecast period of 2022-2030.



Over the last few years, various innovative manufacturing processes & technologies have been introduced in the global paints & coatings market to cater to the growing new & diverse consumer demands. Some of the key recent innovations introduced into the market include low-VOC content coats, anticorrosive protection, and nanocoatings. These products are highly resistant to scratch, mar wear, and are capable of self-healing, conducting electricity, and exhibiting UV protective.


The leading players operating in the market are also emphasizing on developing eco-friendly coatings, such as water- and powder-based, to reduce their ecological footprints. Such advancements in technology and the introduction of new & innovative products are predicted to bolster the growth of the market over the forecast period.


Lately, the adoption of smart coatings has been growing tremendously in commercial applications across the globe. This is primarily because of the self-cleaning, self-healing, and self-stratifying properties of smart coatings. These coatings also have the ability to change their properties according to an external stimulus, such as temperature and electric fields. The increasing adoption and willingness among consumers to pay premium prices for them is anticipated to add to the growth of the market in the upcoming years.


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