Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market
Table Of Contents
Paints and Coatings Industry Data Book | Forecast 2030
Paints and Coatings Industry Data Book – Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market
Grand View Research’s paints & coatings sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
The oligomers raw material segment dominated the market with a revenue share of over 41% in 2022, as these materials emit minimal VOCs during curing, contributing to better air quality and reduced environmental impact
The ultraviolet curing segment is predicted to expand at the highest CAGR during the forecast period, as UV curing requires lower energy consumption compared to heat curing processes, contributing to lower costs
The industrial application segment dominated the market with a revenue share of over 25% in 2022. This is attributed to the increasing applications of radiation cured coatings in various industries such as automotive, healthcare, and others
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Powder Coating Market Report Highlights
Epoxy-Polyester (Hybrid) is expected to be the fastest-growing resin type segment during the forecast period
Consumer goods dominated the application segment in 2022 due to high demand for domestic appliances in emerging countries, such as India, China, Vietnam, the Philippines, and Thailand
The global market is fragmented. In terms of revenue, the top market players collectively held over 40% of the overall share in 2022
Key players are striving to gain a higher market share with new product developments and advancements in the manufacturing technology
However, at present, the pricing structure of market participants is nearly the same and there is not much difference in product attributes
Waterborne Coatings Market Report Highlights
Acrylic resin type will register the fastest growth rate from 2023 to 2030 owing to high product demand in automobile and infrastructure applications
PU will be the second-fastest-growing resin type from 2023 to 2030 due to the wide product usage in automobile application
The architectural application will register the highest CAGR from 2023 to 2030 due to the growing infrastructural activities across the globe
Automotive OEM is likely to record the second-fastest CAGR from 2023 to 2030 owing to the product demand in automotive and related applications across the globe
Asia Pacific will witness the highest CAGR from 2023 to 2030 due to the growing infrastructural and architectural activities as a result of the rising population
The industry is highly competitive due to the presence of a large number of manufacturing companies
Solvent Borne Coatings Market Report Highlights
The market is estimated to advance at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030. This is attributed to the advancing automotive and industrial manufacturing activities worldwide
Two-component type emerged as the fastest growing segment with a CAGR of 4.0% from 2023 to 2030. This is attributed to their superior performance in terms of durability and resistance. Two-component systems typically have better chemical resistance and adhesion and are used for more demanding applications, such as industrial coatings
Two-component systems have a longer pot life, allowing for more extended work time, which can be beneficial in certain applications. The growing demand for high-performance coatings in industries like automotive, aerospace, and marine is driving the demand for two-component system solvent-borne coatings
Competitive Landscape
The global paints & coatings market is heading toward major consolidations to increase efficiency, support growth, and achieve more leverage with suppliers and customers. Market consolidation has become a long-term trend, particularly in the western market, with limited organic growth. For instance, the Americas market has been consolidating for decades, wherein key players are entering mergers & acquisitions to complement the strong organic growth and increase efficiencies through scale or improved processes.
Recent deals such as The Sherwin-Williams Company and The Valspar Corporation merger, Nippon Paint Holdings Co., Ltd. and Dunn-Edwards Corp. merger, and others reflect the ongoing trend of consolidation across paint & coating industry in the western market. However, the global market is still fragmented owing to the presence of several players operating across the globe.
