Paints and Coatings Market to Reach A CAGR of 4.01% By The Year 2029

 Market Analysis and Size

Over the last few years, there has been immense growth in the paints and coatings industry due to their increased usage across building and construction, automotive and semiconductor sectors. Additionally, there has been strong growth in the automobile sector, which have significantly contributed to the market. According to the International Organization of Motor Vehicle Manufacturers (OICA), 95,634,593 automobiles were manufactured in 2018. The automobile industry is prepared to see a seismic change with an increased production rate in the future, which will further flourish the paints and coatings market, and the industry will have a certain demand influx, which will raise revenues during the forecast period.

 Global Paints and Coatings Market was valued at USD 184.00 billion in 2021 and is expected to reach USD 252.01 billion by 2029, registering a CAGR of 4.01% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

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Market Definition

The paint and coating refers to a type of coverings that are widely used for applying on the surface of certain objects to prevent the surface against oxidization and sunlight exposure. This covering also assists in improving the durability of the object life and it is also utilized for functional and decorative purposes.

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Global Paints and Coatings Market Scope

The paints and coatings market is segmented on the basis of resin type, technology and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Global Paints and Coatings Market, By Resin Type (Acrylic, Epoxy Resin, Alkyd, Polyurethane, Polyester, Others), Technology (Water-Based Technology, Solvent-Based Technology, High Solids, Powder Coating, Others), Application (Architectural Application, Industrial Application) – Industry Trends and Forecast to 2029

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