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$223.6 billion in paints and coatings market value by 2027, with a 3.3% CAGR

Published: April 24, 2023
According to a new market research report, the “Paints & Coatings Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Fluoropolymer, Vinyl, Polyester), Technology(Waterborne Coatings, Solvent-borne Coatings, Powder Coatings), End Use (Architectural, Industrial), & Region – Global Forecast to 2027″, size is estimated at USD 190.1 billion in 2022 to USD 223.6 billion by 2027, at a CAGR of 3.3%, between 2022 and 2027. The rapid growth of the housing & construction sector, increasing gross domestic product (GDP), growing urbanization, and increasing disposable income drive the paints & coatings market. Technological advancements in end-use industries such as automotive, marine, aerospace, wood, and general industrial also support growth. The paints and coating market is divided into five key regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. China and India, among other countries, are leading the paints and coatings market globally.

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  • 456 Market data Tables
  • 62 Figures
  • 419 Pages and in-depth TOC on “ Paints & Coatings Market – Global Forecast to 2027”

This report also provides a comprehensive analysis of the companies listed below:

Major players operating in the paints and coatings include The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), BASF Coating GMBH (Germany), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Axalta Coating Systems LLC (US), and others.

Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Paints & Coatings Market.

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PPG Industries, Inc:
 PPG Industries, Inc. is a US-based supplier of paints, coatings, optical products, specialty materials, glass, and fiberglass. The company operates through three business segments, namely, performance coatings, industrial coatings, and glass. It caters to the needs of a number of end-use industries, such as construction, consumer products, industrial, and transportation. The company offers automotive coatings under its industrial coatings segment. It has a presence in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa, with operations in over 156 countries.

  • In October 2021, The COMEX brand by PPG launched Comex VINIMEX TOTAL Antiviral and Antimicrobial paint. It reduces 99.9% of bacteria and viruses responsible for the most common gastrointestinal and respiratory illnesses, including Influenza A H1N1 and the COVID-19 virus, SARS-CoV-2.

The Sherwin-Williams Company: Sherwin-Williams is a diversified coatings company and a leading supplier of advanced technology liquid and powder coatings for the global OEM market through 15 manufacturing and 79 facility locations across the US, Canada, Mexico, and China. The company has a wide product portfolio, which includes brands, such as Sherwin-Williams, HGTV HOME by Dutch Boy, Krylon, Minwax, and Thompson’s Water Seal. Sherwin-Williams has a strong customer base and operates in various countries in Europe, North America, Asia Pacific, and other regions.

  • In January 2021, The Sherwin-Williams Company launched SuperPaint. The Living Well collection includes two products that expand the popular SuperPaint product line with added air purifying and sanitizing technologies. They provide rich, long-lasting color, and exceptional durability. They are low-VOC paints and can help in improving indoor air quality in many rooms. These paints are recommended for high-traffic areas, such as kitchens and bathrooms.

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