Asia Pacific Paints And Coatings Market Forecast 2017-2024
KEY FINDINGS The Asia Pacific paints and coatings market is estimated to value at $60,370 million in 2017 and is expected to reach $92,678 million by 2024, growing at a CAGR of 6.31%, during the forecast period 2017-2024. The forecast period for the market is from 2016 to 2024 and the base year deliberated for the market study is 2016. In the aerospace and marine sector, there is a growing demand for paints and coatings, which acts as a key driver for the paints and coatings market. Also, the demand from the infrastructure industry and the automotive industry is increasing in the Asia pacific region which is a major driver for paints and coatings market.
MARKET INSIGHTS The paints and coatings market is segmented by technology on the basis of water borne, solvent borne and others. The market is also segmented by application type on the basis of architectural applications and Industrial paints and coatings. Entry of new players, substitute products and competition from rivalries are some of the threats facing the paints & coatings market.
COMPETITIVE INSIGHTS The major players in the paints and coatings market are PPG, Akzo Nobel, The Sherwin Williams, Valspar, BASF coatings, Nippon Paints, Axalta Coating Systems, Asian Paints and many others.