Asia Pacific Paints & Coatings Market Forecast 2018-2026
KEY FINDINGS Asia Pacific Paints & Coatings Market accounted for $60.37 billion in 2017. Over the forecast period of 2018-2026, the market is predicted to exhibit a CAGR of 6.81% and generate a revenue of $107.39 billion by the end of 2026.
MARKET INSIGHTS Asia Pacific is a leader in the paints & coatings market. Industries like aerospace, automotive, and marine applications are responsible for an increase in demand in this market. The market has tremendous scope in emerging APAC economies like India, Japan, China and South Korea. Increased awareness towards sustainable products is also influencing the demand for environmentally friendly paints and coatings from this region. However, the costs associated with paints & coatings and stringent regulations for VOC emissions could challenge the market expansion for APAC in the coming years.
COMPETITIVE INSIGHTS Companies like PPG Industries, Asian Paints Limited, Indigo Paints Pvt Ltd, Kelly-Moore Paints, Axalta Coating System Llc, Valspar Corporation, BASF Coatings, Nippon Paint Holdings Co., Ltd, AkzoNobel N.V, RPM International Inc, Kansai Paint Co. Ltd, and Berger Paints India Limited are increasingly involved in this market.