Global Construction Paints and Coatings Market 2016-2020
About Construction Paints and Coatings
Construction paints and coatings refer to any liquid surface covering applied on the interior or exterior of a structure for decorative or protective purposes. They help prevent cracks and rusting, check the proliferation of fungi and algae, and enhance the looks and lifespan of the structure.
Technavio’s analysts forecast the global construction paints and coatings market to grow at a CAGR of 6.31% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global construction paints and coatings market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of paints and coatings for end users such as residential, non-residential, and infrastructure.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Construction Paints and Coatings Market 2016-2020
Technavio recognizes the following companies as the key players in the global construction paints and coatings market: AkzoNobel, Axalta Coating Systems, BASF, PPG Industries, and Sherwin-Williams
Other Prominent Vendors in the market are: RPM, Nippon, Kansai Paint, Sika, and Jotun.
Commenting on the report, an analyst from Technavio’s team said: “One trend that will gain traction in the global construction paints and coatings market is growing demand for premium paints among DIY consumers. An increase in consumer spending on home improvement and remodeling projects is the key factor providing growth impetus for the consumption of paints and coatings in the residential segment. The demand for premium paints among DIY consumers is particularly high in Western economies, with organized big box retailers catering to this demand.
According to the report, the recovery of global housing market will drive growth in the global construction paints and coatings market. The global housing market is recovering from the 2008-2012 economic recession. There has been a steady increase in the prices of homes in more than 30 countries worldwide. The housing market in countries Ukraine, Russia, China, Japan, Italy, and Brazil declined in 2015 when compared with 2014. However, many other countries worldwide have seen substantial growth.”
Further, the report states that solvent-based coatings contain volatile chemicals that are hazardous to the environment and to the health of individuals. Regulatory authorities in many countries, especially in Western Europe and North America, have imposed stringent regulations to limit such products in commodities.
AkzoNobel, Axalta Coating Systems, BASF, PPG Industries, Sherwin-Williams, RPM, Nippon, Kansai Paint, Sika, Jotun.