According to a new MarketsandMarkets research report, “Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural [Residential, Non-residential], Industrial), and Region – Global Forecasts to 2025,” the paint and coatings market is projected to reach USD $179.4 billion by 2025, at a CAGR of 4.0% during the forecast period.
There has been wide acceptance of paints & coatings in various industries such as architectural, general industrial, protective and automotive & transportation, which is expected to drive the paints & coatings market. Rising building and construction activity is expected to drive the growth of the architectural coatings, thus, consequently augmenting the growth of the paints & coatings industry.
The waterborne segment is estimated to account for the largest share of the paints & coatings market, by technology, during the forecast period. This technology is widely adopted for automotive, wood, furniture, plastic, and rail coatings.
The acrylic segment is estimated to account for the largest share of the paints & coatings market, by resin type, during the forecast period. The demand for acrylic paints & coatings is high in the automotive, medical device, paints & coatings, and construction industries.
The architectural segment is estimated to be the fastest-growing end-use industry in the paints & coatings market during the forecast period.
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