Paints and coatings are liquid or semisolid materials which are applied to a substrate in thin layer form, which forms a solid film over surface. It is applied to enhance aesthetic appeal, walls, objects, color buildings, and others. It is a mixture of polymer particles called binders, solvents, pigments, processing various surfactants, and aids. Decorative paints and coatings are employed on exterior and interior surfaces of commercial and residential buildings.
The global paints and coatings market report has been segmented on the basis of type, technology, application, and region.
On the basis of type, the global paints and coatings market has been segmented into acrylic, epoxy, polyurethanes, and others (polyesters and alkyd). The acrylic segment is projected to account for significant share in terms of consumption and revenue in the global paints and coatings market. This can be attributed to properties offered by acrylic resin such as good plasticizer resistance, high flexibility, excellent solvent resistance, and impact resistance.
On the basis of application, the global paints and coatings market has been segmented into architectural & decorative and non-architectural. The architectural & decorative segment is projected to account for major share in the global paints and coatings market in terms of revenue, owing to applications such as interior and exterior surfaces of all kinds of commercial, industrial, residential, and institutional buildings.
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On the basis of region, the global paints and coatings market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific market is projected to hold largest revenue share in the global paints and coatings market in 2017. Asia Pacific paints and coatings market has been anticipated to register a lucrative CAGR in terms of consumption and revenue in next five years, owing to increasing demand for paints and coatings from construction and building and automotive industries in countries such as India, China, and Japan in this region.
Key players operating in the global market include 3M Company, BASF SE, Sika AG, Henkel AG & Co. KGaA, PPG Industries, Inc., Akzo Nobel N.V., RPM International Inc., The Valspar Corporation, Bodo Möller Chemie GmbH, and KANSAI PAINT CO., LTD.