Specialty Paints and Coatings Market Scope
Specialty paints and coatings are either powder-based or liquid-based substance which is applied over a surface and when allowed to dry forms a permanent layer. Paints and coatings may be applied for reasons such as decoration, and protection (anti-corrosion, fireproofing, etc.) of the surface. These are made from synthetic polymers such as styrene acrylic, acrylic, polyurethanes, and others depending on the type of paint i.e. water-based, solvent-based. Specialty paints and coatings are categorized into interior paints and industrial paints based on their application. Majorly, paints and coatings are required by the infrastructure, real estate industry wherein interior paints are used. Industrial paints cater to businesses such as oil & gas, FMCG, automotive, etc. They find vast application across each domain, and hence is an extremely huge market with numerous players.
The market study is being classified by Type (Water-Based Paint, Solvent-Based Paint, Powder Paint and Others), by Application (Architectural, Traffic, Wood, Industrial Equipment and Others) and major geographies with country level break-up.
The coatings market in the United States and Europe is mature and reflects the health of the economy, especially housing, construction, and transportation. Overall demand during the year 2018 to 2025 is anticipated to grow at an average annual rate of 2.6% in the United States and 1.8–2.4% in Western Europe.The Vendors having a strong hold in the market are PPG Industries, Akzo Nobel, Henkel AG & Company, Sherwin-Williams, and Valspar Corporation. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Specialty Paints and Coatings market throughout the predicted period.
PPG Industries Inc. (United States), Akzo Nobel N.V. (Netherlands), Henkel AG & Company KGaA (Germany), Sherwin-Williams Company (United States), Valspar Corporation (United States), RPM International Inc. (United States), Axalta Coating Systems (United States), BASF SE (Germany), Kansai Paint Co. Ltd. (Japan) and Sika AG (Switzerland) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are 3M Company (United States), Asian Paints Limited (India), Nippon Paint Holdings Co Ltd (Japan) and H.B. Fuller Company (United States).
AdvanceMarketAnalytics has segmented the market of Global Specialty Paints and Coatings market by Type, Application and Region.
On the basis of geography, the market of Specialty Paints and Coatings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Retail will boost the Specialty Paints and Coatings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On July 29, 2019, PPG has launched its PPG MOONWALK automated paint mixing system for Europe, Middle East and Africa automotive refinish industry. The self-contained system brings a new level of speed, precision, quality and color consistency to the body shop mixing process. This easy-to-use, the PPG MoonWalk system is sized to fit all mixing rooms and features 80 storage spaces for tinters and 13 positions in the dispensing rack. Other components include a moving scale that is 10 times more precise than a standard scale, a barcode scanner and a label printer.
- Continues Technological Advancements in Specialty Paints and Coatings
- Increasing Demand for Paints and Coatings with Minimum Environmental Threats
- Increasing customer needs such as high performance, improved durability, and extended service life
- High-performance durability as compared to traditional paints and coatings
- Rising Customer Spending and Improving Infrastructure in Developed Countries Such As the United States and Western Europe
- Strong Demand Growth among OEMS Especially in Automotive and Chemical Industries
- The Fluctuating Price Associated with the Use of Raw Materials
- Water-based Coatings, as well as Paints application, is a time-consuming process
- Stringent and Regulatory Policies
- Environmental Challenges in Reference to Waste Water Discharge
Key Target AudienceSpecialty Paints and Coatings Manufacturers, Specialty Paints and Coatings Distributors and Suppliers, Upstream and Downstream Buyers, Chemical Industry Associations, Government Agencies, Research and Development Institutes and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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