is a material which is used over a surface and dehydrates to leave a minute layer which is used to protect the surface of building, and other materials. Paints are applied on various surfaces such as metals, wood, plaster, cement, concrete, paper, leather. Protective coatings are mostly used in household and industries are various materials such as lacquers, varnish, plastic resin solutions, pigmented liquids and others. Paints and coating market is continuously developing thus simplifying improvement of new technologies. These materials are one of the important components for the development of construction industry. From past few decades, the market has endured a swift surge in terms of technological progressions, growing mechanization. The paints & coatings market is controlled by several types of resins such as such as alkyd, epoxy, acrylic, polyurethane, polyester, silicates, oils, melamine and others.
The paints & coatings are broadly divided into several types such as architectural/ decorative coatings, industrial coatings, special purpose coatings, powder coatings, packaging coatings, and others. This market is segmented by application, which includes residential, industrial and others. As per the current trends, the paints & coatings market has grown significantly over the last few years. APAC is the largest region in terms of demand of paints & coatings followed by Europe and North America. A detailed qualitative analysis of the factors responsible for driving and restraining growth of the paints & coatings market
and future opportunities are provided in the report.
Asia-Pacific (APAC) has been the leading region in terms of deployment and adoption of paints & coatings market, followed by North America and Europe in 2015. The APAC region is the fastest-growing market for paints & coatings, in terms of volumes. The growing construction industry in the APAC region is also accountable for the rise in market in terms of consumption and production capacity from the developed markets to the developing markets. China and India dominates the paints & coatings market in the APAC region. Developed lifestyle, growing cost of living and increasing population would benefit construction industry to flourish in APAC and thereby support paints & coatings industry to nurture.