The GMI Research expects the paint coating market to expand at a significant rate. From a regional perspective, the Asia-Pacific is anticipated to increase at a higher CAGR due to the strong demand from the automotive sector and growing construction activities in emerging countries, including Japan, , and 600d oxford fabric India.

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Paint & Coating Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)Key Drivers

The increased usage of paints & coatings for the protection and decoration of infrastructures is a primary factor driving the growth of the global paints and coatings market size. There are various architectural advancements, such as interior and exterior house paints, sealers, varnishes, primers, and stains. Architectural paints are easily available in different textures, allow less volatile organic compounds (VOC), and provide odorless paints with increased-scrub resistance. In the industrial sector, organizations highly consider the sustainability aspect while performing numerous business operations. As per paints and coatings market research, the major aim is to reduce volatile organic compounds (VOC) to include renewable materials, process efficiency improvement, waste minimization, and resource conservation energy. These factors are augmenting the growth of the market.

The top major companies in the paints coating market are emphasizing on improving the performance by the launch of new eco-friendly products. According to paints and coatings market overview, the leading organizations in this market are rapidly launching technologies to raise the performance of coatings which is one of the emerging paints and coatings market trends that is energizing the growth of the paint & coating market. For example, PPG Industries, Inc. displayed high performance and eco-friendly coating products and technologies at the Shanghai New International Expo Center in 2020. This factor will fuel the growth of the market in the coming years. The emergence of the COVID-19 pandemic has negatively influenced the growth of the paints and coating market in architectural and industrial sectors. Many economies have experienced a temporary slowdown in activities across the industries that utilize paints and coating, thus hindering the growth of the paints and coatings market in the upcoming years. However, the market is predicted to recover by the end of 2021 as the manufacturing activities in the industrial and transportation sector resumes.

Paint & Coating Marketrsquo;s leading Manufacturers:Akzo Nobel N.V.PPG Industries, Inc.Axalta Coating Systems, LLCThe Sherwin-Williams CompanyRPM International Inc.JotunHenkel AG Company, KGaABASF SENippon Paint Holdings Co., Ltd.Kansai Paint Co.,Ltd.Paint Coating Market Segmentation:Segmentation by Product:High Solids/Radiation CuringPowder-BasedWater-BorneSolvent-BorneOthersSegmentation by Material:AcrylicAlkydPolyurethaneEpoxyPolyesterOthersSegmentation by Application:Architectural DecorativeNon-ArchitecturalAutomotive TransportationWoodGeneral IndustrialMarineProtectiveOthersSegmentation by Region:North AmericaUnited States of AmericaCanadaAsia PacificJapanIndiaRest of APACEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSouth AfricaSaudi ArabiaUAERest of the world (remaining countries of the LAMEA region)

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