Global Paints and Coatings Market Will Grow at a CAGR of 5.5% During 2014 to 2020 - Persistence Market Research

New York, NY, April 10, 2015 --(PR.com)-- According to a new market report published by Persistence Market Research “Global Market Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020,” the global paints and coatings market was worth USD 121.9 billion in 2013 and is expected to grow at a CAGR of 5.5% during 2014 to 2020, to reach an estimated value of USD 176.5 billion in 2020.

With urbanization, the world is becoming a more sophisticated place with the growing need for greater comfort. The paints and coatings market has been benefitting due to these developments in personal and non-personal spaces. The increasing global population and the growing number of nuclear families escalate the demand for new houses every year, which in turn creates demand for paints and coatings. The increasing market for consumer goods and automobiles is also propelling the growth of the paints and coatings market.

Browse the full Global Market Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020 report at http://www.persistencemarketresearch.com/market-research/paints-coatings-market.asp

Based on end-use, the paints and coatings market is segmented into three categories: architectural and decorative; industrial; and marine. Architectural and decorative paints and coatings can be further segmented into water-based and solvent-based. Similarly, industrial paints and coatings can be classified into water-based, solvent-based, powder, and UV-based.

Architectural and decorative paints and coatings are used mainly applied on interior and exterior walls of houses and corporate buildings. Based on their formulation, there are basically two types of architectural and decorative paints and coatings: water-based and solvent-based. Based on type, architectural and decorative paints and coatings paints are mainly classified into emulsions and distempers. Distempers are costlier than emulsions and account for lesser market share as compared to emulsions.

Industrial paints and coatings are used by several industries, including machinery manufacturing, automotive, and consumer goods. Based on their formulation, industrial paints and coatings can be segmented into four categories: water-based, solvent-based, powder, and UV-based.

According to the Bureau of Economic Analysis (U.S. Department of Commerce), the durable goods industry grew from USD 958.7 billion in 2010 to USD 1096.4 billion in 2013. The construction industry in the country grew from USD 539.1 billion in 2010 to USD 611.4 billion in 2013. Fabricated metal products industry accounted for USD 120.6 billion in 2010 which increased to reach USD 134.1 billion in 2012. The wood products industry reached USD 23.8 billion in 2012 from USD 22.1 billion in 2010. The growth of these industries is fuelling the growth of the paints and coatings market.

Several European economies recorded negative GDPs during the Euro-Zone crisis. Italy and Spain have been the biggest victims of this crisis. However, the European economies are improving and consumers are gaining confidence once more, which is a positive sign for consumer-related industries. The negative effect of the economic crisis also impacted the European paints and coatings market; however, the industry is recovering and is expected to gain momentum by 2020.

The global paints and coatings industry has moderate degree of competition; however, the industry is moving towards consolidation through large number of mergers and acquisitions taking place in the recent years. Some of the major paints and coatings companies include AkzoNobel N.V., PPG Industries, The Sherwin-Williams Company, RPM International, Valspar Corporation, and Kansai Paint Company.

Below is the segmentation done by Persistence Market Research for global market study on paints and coatings:

1) Market Size and Forecast by Product Segment

Market Size and Forecast

Architectural and Decorative Paints and Coatings

Water-based Architectural and Decorative Paints and Coatings
Solvent-based Architectural and Decorative Paints and Coatings

Industrial Paints and Coatings

Water-based Industrial Paints and Coatings
Solvent-based Industrial Paints and Coatings
Powder Coatings
UV-based Coatings

Market Size and Forecast by Region

North America

Market Size and Forecast by country
Market Size and Forecast by product segments

Europe

Market Size and Forecast by country
Market Size and Forecast by product segments

Asia Pacific

Market Size and Forecast by country
Market Size and Forecast by product segments

Rest of the World (RoW)

Market Size and Forecast by product segments

About Us:
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.