Paints & Coatings Market is expected to be dominated by architectural segment during the forecast period.

According to TechSci Research report, Paints & Coatings - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028, the Global Paints & Coatings Market is expected to register robust growth during the forecast period, 2024-2028.   Buildings, cars, appliances and other items are decorated and protected with paints and coatings. The performance of the construction industry has a significant impact on the decorative paints and coatings industry, while the protective paints and coatings industry is more closely linked to automobiles, large appliances, and industrial equipment. House paints, primers, sealers, varnishes, and stains for indoor and outdoor use are examples of architectural coatings. They are sold to contractors and the general public through retail and wholesale facilities and sold directly to major corporate customers. Automotive coatings, coil coatings, furniture coatings, and road marking coatings are examples of industrial coatings. Most of these products are sold directly to consumers.

Paint contains pigments that give it color and opacity. Binders and polymers, often called resins, form the matrix to hold the pigments in place. Extended pigment particles are used to strengthen the film, improve adhesion, and be friendly to binders. Solvents (thinners), either water or organic solvents, are used to reduce the viscosity of the paint for better application. Some paints containing volatile organic compounds such as hydrocarbons that are bad for the atmosphere have been replaced by water-based paints. Additives are used to modify the properties of dry films or liquid paints. Colors are created with their intended use in mind. Primers and special finishes (mate, glossy, heat resistant, corrosion and abrasion resistant). Wetting is the process of dissolving pigment powder into small particles, coating and dispersing them with a resin binder.  

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The Global Paints & Coatings Market is segmented based on technology, resin, sales channel, end use and region. Based on end use, the market is segmented into architectural, industrial, infrastructure. During the projected period of 2024-2028, architectural segment is expected to dominate the market. Architectural coatings and varnishes are by far the largest segment in the paints and varnishes industry. Architectural coatings are designed to protect and decorate surface features. They are used to coat buildings and houses. Most are intended for specific uses, such as roof coating, wall paint, or topcoat. Regardless of application, architectural coatings must perform specific decorative, durable, and protective functions. Architectural coatings are used in commercial applications such as office buildings, warehouses, retail stores, shopping centers, and residences. Such coatings can be applied to external and internal surfaces and include sealers or specialty products. For living room and bedroom walls, most homeowners prefer their favorite colors. Therefore, preference is given to acrylic paints, as they offer a wide range of colors and shades. Most of the ceiling is painted matte white and reflects most of the room's ambient light. This makes the room feel more spacious and relaxed. Basement masonry can often drip water. This range uses an elastomeric paint that expands under pressure to prevent water leaks. The growing bourgeois population, coupled with rising disposable incomes, facilitated the expansion of the bourgeois housing segment and spurred housing construction. The Government of India is pushing ahead with important projects in the next few years. The government's ‘Housing for All’ initiative aims to build more than 20 million affordable housing for the urban poor by 2022. This could greatly facilitate housing construction. Owing to all the above factors, the paints and coatings market is expected to grow significantly during the forecast period.

Key market players in the Global Paints & Coatings market are: -

• PPG Industries
• Akzo Nobel N.V.    
• BASF Coatings    
• The Sherwin-Williams Company     
• RPM International Inc. 
• Nippon Holdings
• The Valspar Corporation  
• Axalta Coating Systems  
• Asian Paints Limited  
• Kansai Nerolac Paints Limited  
  
  

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"Rapid construction has always given the paint & coating market lots of opportunities. As the global population is expected to increase, so will urbanization which shall drive the market. In addition to construction industry, automotive also has not lagged behind as number of car purchases seem to grow per year, with the increase in color choices driving the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Paints & Coatings Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028, Segmented By Technology (Water based, Solvent based), By Resin (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, Others), By Sales Channel (Direct, Indirect), By End Use (Architectural, Industrial, Infrastructure), By Region, Competition Forecast & Opportunities, 2028” has evaluated the future growth potential of Global Paints & Coatings market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Paints & Coatings market.

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