Paints & Coatings Market Worth $179.4 Billion by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, July 20, 2020 /PRNewswire/ -- According to the new market research report "Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural [Residential, Non-residential], Industrial), and Region - Global Forecasts to 2025", published by MarketsandMarkets, the Paints & Coatings Market is projected to reach USD 179.4 billion by 2025 at a CAGR of 4.0% during the forecast period. There has been wide acceptance of paints & coatings in various industries such as architectural, general industrial, protective and automotive & transportation, which is expected to drive the paints & coatings market. Rising building and construction activity is expected to drive the growth of the architectural coatings, thus, consequently augmenting the growth of the paints & coatings industry.

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The waterborne segment is estimated to account for the largest share of the paints & coatings market, by technology, during the forecast period.

Waterborne technology uses water as a solvent, which makes them environmentally friendly and easy to apply. In most cases, this technology uses 80% water with small quantities of other solvents, for instance, glycol ethers. This technology is widely adopted for automotive, wood, furniture, plastic, and rail coatings. The binders used for waterborne coatings can be either be polyacrylate polyvinyl ethers, polyurethane resins, epoxy, or alkyd resins. Waterborne paints & coatings are used in a variety of packaging applications in architectural, automotive, general industrial, protective, wood, marine, packaging, coil, and other industries, due to their low toxicity and flammability factors. These benefits drive the waterborne paints & coatings market.