Latin America Paints and Coatings Market - Segmented by Resin Type, Application and Technology, and Geography - Trends and Forecasts (2017 - 2022)
The Latin America paints and coatings market is estimated to value at USD XX million (in terms of revenue) and XX million tons (in terms of volume) in 2017, and is likely to reach USD XX million and XX million tons by 2022, at an estimated CAGR of XX% and XX%, respectively, during the forecast period 2017-2022.
Paints and coatings industry is divided into two sub-sectors namely, industrial and architectural. Architectural coatings include both interior and exterior paints, varnishes, primers, stains and sealers, and their demand is primarily depended on the growth and performance of the construction sector. Industrial coatings include coil coatings, automotive paints, refinishers, furniture finishing and road marking paints, and their demand is linked to the growth and performance of the industrial equipment sectors, automotive industry and appliance industries.
The market is driven by number of factors, such as the growing application and usage in aerospace sector, emergence of infrastructure projects and rapid growth in demand from automobile sector in Mexico. On the flipside, environmental impact and regulations and the slowing construction sector in Brazil is expected to hinder the growth of the market.
The Latin America paints and coatings market has been segmented on the basis of resin type into acrylic, alkyd, polyurethane, epoxy, polyesters, and others, on the basis of application into industrial including automotive sector, marine paints, consumer durables, and other industrial applications(includes general industrial)), and decorative applications and on basis of technology into solvent-based, water-based, powder, and others. Furthermore, the market has also been segmented on the basis of geography into Mexico, Brazil, Argentina, Chile, Columbia, Venezuela, Peru, Uruguay, and Rest of Latin America.
Water-based paints and coatings accounted for the largest share of the Latin America paints and coatings market in 2016, with a value of USD XX million and a market share of XX%. Meanwhile, the solvent-based paints and coatings category recorded a market size of USD XX million in 2016.
Emissions of volatile organic compounds (VOCs) and presence of hazardous chemicals, which have been known to cause genetic mutation, have led to the complete elimination or curtailing of certain Latin American and regional regulations. International regulations also have limited the quantity of lead in paints and coating products. Further, there has been a growing awareness among buyers, which results in shifting preference with regard to health effects as well as paint utility.
The development of bio-based products, and technological advancements in the production process is expected to offer numerous opportunities in the growth of the market. Some of the major companies dominating the market with their products and services are AkzoNobel, Asian Paints, BASF, Valspar, and Sherwin-Williams.
Key Deliverables in the Study
• Market analysis for the Latin America Paints and Coatings Market, with country specific assessments and competition analysis on regional scale
• Market definition along with the identification of factors instrumental in changing the market scenarios and prospective opportunities
• Extensively researched competitive landscape section with profiles of major companies along with their market shares
• Identification and analysis of the macro and micro factors that affect the market
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
• Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
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