Growth opportunities and latent adjacency in Paints & Coatings Market, 2017–2022 (USD Billion)

The report "Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Water-Based, Solvent-Based, High Solids, Powder), Application (Architectural & Industrial), and Region - Global Forecasts to 2022", The paints & coatings market is projected to grow from USD 160.54 Billion in 2017 to USD 209.36 Billion by 2022, at a CAGR of 5.45% during the forecast period.

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The paints and coatings market is dominated by respective global players along with the presence of few regional players in the key growth markets. The Asia-Pacific region is the largest market, followed by Europe in the global paints and coatings market.

The key companies in this market are Akzo Nobel NV (Netherlands), BASF SE (Germany), PPG Industries Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Nippon Paint Co. Ltd (Japan), and Kansai Paint Co. Ltd. (Japan) and others. They are the most active and major players in the paints and coatings market.

Expansions and New Product Launches were the key strategy adopted by industry players in order to achieve growth in the paints and coatings market. This strategy accounted for major share of all growth strategies adopted by market players. The high demand for paints and coatings due to the growing demand from architectural and industrial coatings has encouraged companies to adopt this strategy. Market players are focusing on entering new markets by acquiring companies thus, enhancing their paints and coatings product portfolio for different applications.

Besides new product development, companies adopted the strategy of acquisition, and expansion in order to expand their market share and distribution network. These market strategies by the leading players will increase their market share, thereby enhancing their global presence in the paints and coatings industry.

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