Product Overview

Paint and coating refer to glossy material which is used to color, decorate, and provides texture to the objects. They protect the object from sunlight, oxidation, and improve the durability of the object. Paints basically enhance the beauty of the object whereas coatings offer both decoration and protection. Paint consists of pigments, additives, solvent, and binder. They can be in solid, liquid, and gaseous forms. They are applied on walls, metal surfaces, equipment, and others by various application techniques including brushes, scrapers, paint rollers, blades, other instruments, or body parts such as fingers and thumbs. Paints and coatings are primarily used in automotive, construction, architectural, and wood industries.

Market Highlights

Global Paints and Coatings Market is expected to project a notable CAGR of 5.22% in 2030.

Global Paints and Coatings Market to surpass USD 264.05 billion by 2030 from USD 158.47 billion in 2020 at a CAGR of 5.22% throughout the forecast period, i.e., 2021-30. The demand for paints and coatings is expected to accelerate due to its properties such as wettability, adhesion, and corrosion resistance. Additionally, the advancements in automobiles and chemical industries have aided the growth of the global market. Paint and coatings are extensively used in the aerospace industry.

Recent Highlights in Global Paints and Coatings Market

In April 2020, Akzo Nobel N.V purchased a Mauritius-based paint and coating manufacturer, Mauvilac Industries Limited to strengthen its position and increase its market share.

In December 2018, PPG Industries Inc. announced to acquire the global coatings manufacturer Whitford Worldwide Corporation to expand its product portfolio.

Global Paints and Coatings Market: Segments

Acrylic segment to grow with the highest CAGR during 2021-30

Global Paints and Coatings Market is segmented by Resin into Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, and others. Acrylic segment held the largest market share in the year 2020 and will continue to dominate the market throughout the forecast period. This growth is attributed owing to its growing application in architectural paints and industrial coating. For the manufacturing of coats and varnishes, acrylic resins are widely used. They possess excellent stabilization and weathering properties which is making them suitable for usage in paints and coatings

Waterborne segment to grow with the highest CAGR during 2021-30

Global Paints and Coatings market is bifurcated by Technology into Waterborne, Solvent-borne, Powder, and others. The waterborne segment held the largest market share in the year 2020 and will continue to dominate the market throughout the forecast period. Due to their low toxicity and flammability waterborne paints and coatings are primarily used in the architectural sector

Architectural segment to grow with the highest CAGR during 2021-30

Global Paints and Coatings market is also segmented by application into Architectural and industrial segment. The architectural segment held the largest market share in the year 2020 and will continue to dominate the market throughout the forecast period. Paints and coatings are mostly used for the decoration of residential or non-residential buildings to protect against harmful UV rays and corrosion. Architectural paints and coatings are also used to enhance the interiors including wood flooring, wall paintings, sculptures, and furniture.

Market Dynamics

Drivers

Advancement in Construction

With the growing population, the investment in construction projects is increasing which has fueled the demand for Paints and coatings. Rapid urbanization and industrialization are rising the demand for building and infrastructure. Paints and coatings offer aesthetic and protective benefits to these structures.

Mounting demand from Automotive industry

Mounting demand for automobiles on account of the rapid urbanization coupled with rising disposable income, changing lifestyle is expected to flourish the paints and coatings market. The component of automobiles is coated or painted with resins to protect them from rusting and corrosion. Technological advancements in the sector boosting the market as well. Various manufactures are introducing paints that are eco-friendly and follow the environmental regulations which are anticipated to drive the market.

Restraint

Fluctuating Price of Raw Materials

The fluctuating price of raw materials is projected to hamper the market growth of paints & coatings. major key raw materials used in the manufacturing of paints & coatings are Oil derivatives and titanium dioxide. The prices fluctuate because of the gap in supply and demand of titanium dioxide.

Global Market: Key Players

PPG Industries

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis

Akzo Nobel NV

Asian Paints Ltd.

Axalta Coating Systems

BASF SE

Berger Paints India Ltd.

Diamond Vogel Paints

Dow Inc.

Hempel A/S

Jotun A/S

Kansai Paint Co., Ltd.

KCC Corporation

Other Prominent Players

Global Paints and Coatings Market: Regions

Global Paints and Coatings market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Global Paints and Coatings markets market in Asia Pacific held the largest market share in the year 2018. Asia Pacific will continue to dominate the global tinplate market due to its and rising demand from industrial applications and improving economic growth. Mounting construction activities and automotive in this region is fueling the demand for paints and coatings. Additionally, the easy accessibility of raw materials and less harsh laws regarding VOC emission accelerated the market in this region.

Global Paints and Coatings market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Paints and Coatings market report also contains analysis on:

Paints and Coatings Market Segments:

By Resin

Acrylic

Alkyd

Epoxy

Polyurethane

Polyester

Others

By Technology

Waterborne

Solvent-borne

Powder

Others

By Application

Architectural

Residential

Non-residential

Industrial

Paints and Coatings Market Dynamics

Paints and Coatings Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Contents

1. Executive Summary

2. Global Paints and Coatings Market

2.1. Product Overview

2.2. Market Definition

2.3. Segmentation

2.4. Assumptions and Acronyms

3. Research Methodology

3.1. Research Objectives

3.2. Primary Research

3.3. Secondary Research

3.4. Forecast Model

3.5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

6.1. Growth Drivers

6.2. Restraints

6.3. Opportunity

6.4. Trends

7. Correlation & Regression Analysis

7.1. Correlation Matrix

7.2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

9.1. Demand Risk Analysis

9.2. Supply Risk Analysis

10. Global Paints and Coatings Market Analysis

10.1. Porters Five Forces

10.1.1. Threat of New Entrants

10.1.2. Bargaining Power of Suppliers

10.1.3. Threat of Substitutes

10.1.4. Rivalry

10.2. PEST Analysis

10.2.1. Political

10.2.2. Economic

10.2.3. Social

10.2.4. Technological

11. Global Paints and Coatings Market

11.1. Market Size & forecast, 2020A-2030F

11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Global Paints and Coatings Market: Market Segmentation

12.1. By Regions

12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2. By Resin: Market Share (2020-2030F)

12.2.1. Acrylic, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.2. Alkyd, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.3. Epoxy, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.4. Polyurethane, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.5. Polyester, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.6. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3. By Technology: Market Share (2020-2030F)

12.3.1. Waterborne, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.2. Solvent borne, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.3. Powder, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.4. others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4. By Application: Market Share (2020-2030F)

12.4.1. Architectural, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.2. Industrial, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

13 Company Profile

13.1. PPG Industries

13.1.1. Company Overview

13.1.2. Company Total Revenue (Financials)

13.1.3. Market Potential

13.1.4. Global Presence

13.1.5. Key Performance Indicators

13.1.6. SWOT Analysis

13.1.7. Product Launch

13.2. Akzo Nobel NV

13.3. Asian Paints Ltd.

13.4. Axalta Coating Systems

13.5. BASF SE

13.6. Berger Paints India Ltd.

13.7. Diamond Vogel Paints

13.8. Dow Inc.

13.9. Hempel A/S

13.10. Jotun A/S

13.11. Kansai Paint Co., Ltd.

13.12. KCC Corporation

13.13. Other Prominent Players

14 Consultant Recommendation

**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)