Paints & Coatings Market Worth $179.4 Billion by 2025 - Exclusive Report by MarketsandMarkets - Seite 2

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

Acrylic resins are a group of similar thermoplastic or thermosetting plastic substances derived from acrylic acid, methacrylic acid, and other related compounds. Acrylates are the largest category of binder resins used in coatings. Acrylic paints & coatings are used in a wide range of applications owing to their chemical characteristics and unique esthetic properties. The demand for acrylic paints & coatings is high in the automotive, medical device, paints & coatings, and construction industries.

The architectural segment is estimated to be the fastest-growing end-use industry in the paints & coatings market during the forecast period.

Architectural paints & coatings, also known as decorative paints & coatings or building paints, are applied on the interior and exterior walls of all kinds of residential, commercial, industrial, and institutional buildings. The growing safety standards are also raising the demand for specialty coatings, including fireproof and waterproof coatings on buildings. This is shifting the global focus towards architectural coatings.

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Paints & coatings market in APAC is expected to register the highest CAGR during the forecast period.

The APAC paints & coatings market is segmented as China, Japan, India, Indonesia, Thailand, and Rest of APAC. APAC is an emerging and lucrative market for paints & coatings, owing to industrial development and improving economic conditions. This region constitutes approximately 61% of the world's population, resulting in the growth of the manufacturing and processing sectors.

The demand for paints & coatings has increased in Indonesia, Malaysia, and the Philippines, as residential construction activities in these countries have increased, due to the rising income levels, shift toward nuclear families, and affordable interest rates in several countries.

Major players operating in the paints & coatings market include AkzoNobel N.V. (Netherlands), PPG Industries (US), The Sherwin-Williams Company (US).

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Industrial Coatings Market by Resin (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd), Technology (Solvent, Water, Powder, High Solids), End-Use Industry (Industrial, Industrial, Protective, Automotive, Aerospace, Marine, Wood, Packaging), and Region - Global Forecast to 2024