Global Paints and Coatings Market Will Reach $176.5 Billion in 2020

Paints and Coatings Market - Global Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020

Persistence Market Research

Global Paints and Coatings Market Will Reach $176.5 billion in 2020 - Persistence Market Research

Persistence Market Research

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Paints and Coatings Market - Global Study on Paints and Coatings: Industrial Paints and Coatings to Witness Highest Growth by 2020

Persistence Market Research Released New Market Report 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.

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 UVbased.

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,...