San Francisco, California, May 25, 2017: Urbanization has brought with it, a high demand for paints and coatings indirectly. Rapid industrialization has also fueled the demand for paints and coatings, especially in the emerging economies. TMR Research in its latest report, studies the global paints and coatings market. The report is titled “Paints and Coatings Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017.” A surge in the construction activities in Asia Pacific is resulting into an added bonus for this market. High population, coupled with the increase in income have led to the demand for residential and commercial buildings and this is behind the rise in construction and buildings market, which in turn has favored well for the paints and coatings market.
Some of the trends in the global paints and coatings market witnessed of late are the growing popularity of waterborne paints and coatings and the introduction of green coatings. The emergence of nano coatings is also a trend that is expected to create growth opportunities in the market. Moreover, with technological advancements, this market is expected to reach a new height of growth in the forecast period. The increase in the number of applications across diverse range of industries will motivate new players to enter in the market. This is expected to intensify the competition level in the global paints and coatings market. However, the cost of raw materials is high and poses a challenge to market players. Additionally, the various rules and regulations laid by environmental bodies and governments worldwide regarding paints and coatings will hamper the growth of the market.
Asia Pacific is anticipated to be a key contributor to the growth of the paints and coatings market. The flourishing aviation and increasing trend of automation are expected to make Europe another lucrative market for paints and coatings. The Rest of the World is also expected to make progress during the forecast period in this market. Growing construction activities and steady rise in industrialization are two main causes for the growth of the market in the Rest of the World.
Key players in the market are RPG International Inc., Bergers Paints India Ltd., KCC Corporation, Masco Corporation, The Valspar Corporation, PPG Industries, Diamond Vogel, and Asian Paints Ltd. Many new players are estimated to enter this market and this will result in noteworthy efforts taken by players to expand their product portfolios. Players are striving to go green and develop products that are eco friendly. The report reveals details about key players such as their recent developments and strategies adopted to make progress in the market. Information regarding their business and financial overview is also given.