Latest News- Paints And Coatings Market: Water-based is expected to lead the Technology segment during 2025-2029

The Paints And Coatings Market is being driven by Growing real estate and construction industry

The Paints And Coatings Market is expected to grow at a CAGR of 4.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 42.05 billion. In the paints and coatings industry, UV-curable coatings represent a significant area of innovation and growth. These coatings offer superior performance and assembly-line advantages due to their rapid curing properties. Notably, key market players are investing heavily in research and development to produce UV-curable coatings with enhanced scratch and mar resistance. For instance, BASF SE is a leading supplier of multi-functional polyol intermediates for UV-curable acrylic monomers and oligomers, which are integral to the manufacturing process of UV-curable coatings. Although UV-curable coatings currently hold a modest market share, their adoption is expected to surge due to the increasing number of automotive OEMs adopting these coatings for their production processes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • Water-based
  • Solvent-based
  • Others
• Resin Type
  • Acrylic resins
  • Epoxy resins
  • Polyurethane resins
  • Alkyd resins
  • Others
• End-user Industry
  • Architectural
  • Automotive
  • Wood
  • Protective Coatings
  • General Industrial
  • Transportation
  • Packaging Coatings
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing real estate and construction industry
• Availability of coatings designed to enhance fuel efficiency of automobiles
• Growing marine industry

However, the market also witnesses some limitations, which are as follows:

• Regulations on high emissions of VOC
• Stringent regulations
• Increasing use of glass in buildings

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Market Scope in Paints And Coatings Market Research Report

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Research Analysis Overview

The Paints and Coatings Market encompasses various product categories, including high-performance ceramics for aircraft turbine engines, acrylic, alkyd, and epoxy resins, architectural and industrial wood coatings, marine, automotive OEM and refinish coatings, general industries coatings, coil coatings, and packaging coatings. Sustainability is a key consideration, with offerings in low-cost housing and commercial construction. Components include pigments, binders, and additives, while evaporation rates impact product performance. Exterior and interior wall paints, wood finishes, enamels, and marine protection solutions are available, with fluoropolymers, PVDF, thermoplastic, and thermosetting options offering superior reflection absorption, corrosion protection, hardness, and friction properties. High-tech coatings, such as those based on vegetable resin, polyurethane (PU) resin, and polyester resin, cater to diverse industries like the wood industry. Solvent borne coatings complete the market landscape.

Market Research Overview

The global specialty chemicals industry encompasses businesses specializing in high-value-add chemicals used in the production of various products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. This market's size is determined by the consolidated revenue of manufacturers involved in producing high-value-added chemicals. Key growth drivers for this market include the increasing demand for specialty adhesives and sealants, which are expected to significantly contribute to market expansion throughout the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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