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Construction Paints And Coatings market Trend
Global paints and coatings market is estimated to surpass US$ 296.1 Bn by 2030, in terms of revenue, exhibiting CAGR of 6.64 % during the forecast
BURLINGAME, CALIFORNIA, UNITED STATES, August 7, 2024 /EINPresswire / -- Market Overview:
Construction paints and coatings are used to protect and decorate buildings and infrastructure. They provide properties such as durability, UV resistance and water resistance. Some key product types are acrylic, epoxy, polyurethane, alkyd and cementitious coatings.
Market Dynamics:
Growing construction industry globally isdriving the growth of the market. The industry witnessed a growth of 3.2% in 2021. Several countries are undertaking infrastructure development projects such as roads, bridges, railways etc. which utilizes construction paints and coatings significantly. Population growth coupled with urbanization is increasing demand for residential and commercial construction. Furthermore, increasingpurchasing power is propelling home improvement activities thereby augmenting market expansion environmental regulations regarding use of volatile organic compounds(VOCs) is prompting manufacturers to develop bio-based and low-VOC products.
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Construction Paints And Coatings Market Drivers
Increasing construction activities and infrastructure development projects
The construction industry has witnessed steady growth over the past few years majorly driven by the increase in infrastructure development projects undertaken by various governments globally. Infrastructural development is crucial for the economic growth of any country. Many countries are investing heavily in construction of roads, bridges, highways, railways, ports, airports and other infrastructure projects which require extensive use of paints and coatings for protection and beautification purposes. The growing construction activities are expected to drive robust demand for construction paints and coatings during the forecast period.
Construction Paints And Coatings Market Opportunity
Rising expenditures on infrastructure development in emerging economies
Emerging economies in Asia Pacific and Latin America regions are witnessing significant economic growth over the past few years. In order to further accelerate the pace of industrialization and urbanization, governments of various developing countries are allocating large capital expenditures for infrastructure development. Mega projects related to construction of roads, highways, urban mass transit systems, power generation & transmission facilities, rail networks, airports etc. are currently underway or in pipeline in many emerging nations. This provides immense opportunities for growth of construction paints and coatings market owing to increased demand from infrastructure sector. Manufacturers can gain a competitive advantage by strategically expanding their footprint in high growth emerging markets.
Construction Paints And Coatings Market Trends
Growing popularity of water-borne coatings
Water-borne technology has emerged as a viable alternative to traditional solvent-borne coatings especially in the construction industry. Compared to solvent-borne paints, water-borne coatings have lower volatile organic compound (VOC) emissions without compromising on the performance attributes. They dry faster, have excellent adhesion and are easy to clean up with just water. Also, water-borne coatings comply with the stringent environmental regulations regarding VOC content. With advances in water-borne resin technologies, the drying and finishing characteristics have improved substantially. Manufacturers are extensively focusing on development of innovative water-borne product ranges for exterior and interior applications including acrylic, epoxy and polyurethane based systems. Their environment-friendly composition and user friendly nature is driving the adoption of water-borne coatings in construction activities.
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Top Companies Featured in This Report:
★ Akzo Nobel N.V.
★ Asian Paints
★ Axalta Coating Systems
★ BASF SE
★ Berger Paints India Limited
★ Deutsche Amphibolin-Werke Von Robert Murjahn Stiftung & Company
★ Diamond Vogel Paints
★ Helios Group
★ KCC Corporation
★ Masco Corporation
★ Nippon Paint
★ PPG Industries Inc.
Market Segmentation:
By Product Type:
★ By Product Type: High Solids/Radiation Cure, Powder Coatings, Waterborne Coatings, Solvent-borneCoatings, Others
By Applications:
★ By Application: Automotive & Aviation, Medical & Healthcare, Residential, Commercial, Others
Key Regions/Countries Classified as Follows:
)) North America (U.S., Canada, Mexico)
)) Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
)) Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
)) South America (Brazil, Argentina, Rest of SA)
)) Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
📈 What was the size of the Construction Paints And Coatings Market in 2024, and what is the projected value by 2031?
📈 What is the present global market landscape for the Construction Paints And Coatings Market?
📈 What strategies offer optimal opportunities for growth maximization in the business?
📈 What recent trends are shaping the Construction Paints And Coatings Market?
📈 How does the market share of Construction Paints And Coatings Market revenue, sales, and size vary across specific geographical regions?
📈 Who are the prominent industry players in the Construction Paints And Coatings Market?
📈 Which segment of the Construction Paints And Coatings Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Construction Paints And Coatings sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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