According to a recent report published by Transparency Market Research, the global paints and coatings market was worth US$100.3 billion in 2012 and is projected to be worth US$143.9 billion by 2019.
The report - Paints and Coatings Market by Product Segment (High Solids/Radiation Cure, Powder Coatings, Waterborne Coatings, Solvent Borne Technologies and Others) For Automotives & Aviation, Medical & Healthcare, Residential, Commercial and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019 - also states that the market for paints and coatings will grow at a 5.4% CAGR.
Browse Paints and Coatings Market Research Report with ToC & Free Market Analysis: http://www.transparencymarketresearch.com/paints-coatings-market.html
Asia-Pacific led the global paints and coatings market in 2012, accounting for 39% of the global demand. The main reasons for this growth is increasing demand for paints and coatings from the automotives and aviation sector and rising manufacturing activities in Asia-Pacific. Europe is the second largest market for paints and coatings and the demand is likely to increase. In terms of demand for paints and coatings, the Rest of the World is expected to be the fastest-growing regional market from 2013 to 2019. Regions such as Latin America, South America, and Middle East have seen a surge in construction activities in the recent past, resulting in the growing demand for paints and coatings. Moreover, requirement for paints and coatings also emerges from residential, commercial, and automotive and aviation sector. Projections suggest that the RoW market for paints and coatings will grow at a 5.8% CAGR during the forecast period.
Accounting for 33.1% of the worldwide demand, residential buildings were the largest end users of paints and coatings in 2012, followed by commercial buildings. The automotive and aviation sectors were the fastest-growing end-users of paints and coatings and are forecast to gain significant growth in the coming years. As far as products of paints and coatings are concerned, waterborne coatings accounted for 40% of the overall demand in 2012, making it the largest product segment in the paints and coatings market. This was mainly due to increased building and construction activities over the last few years as well as growth of construction industries. Solvent borne technologies were the second-largest product segment of the paints and coatings market, but environmental concerns attached to its use is expected to adversely affect its demand during the forecast period.
The worldwide market for paints and coatings can be segmented on the basis of product, end user and geography. The major end users of paints and coatings include medical and healthcare, commercial, residential, automotives and aviation, and others. The main product segments of the paints and coatings market include powder coating, high solids/radiation cure, solvent-borne technologies, waterborne coating, specialty coatings, and others.