PAINTS AND COATINGS INDUSTRY:

In a variety of industries, the use of paints and coatings is rapidly increasing. The automobile, construction, and industrial industries all employ paints and coatings. Protective paints and coatings are closely linked to the automotive, major appliance, and industrial equipment industries, while decorative paints and coatings are widely used in construction and buildings. As a result, growth in end-user industries is projected to fuel the paints and coatings market. Paints and coatings are manufactured by companies that blend pigments, solvents, and binders to create paints and other coatings, such as stains. Putties, paint and varnish removers, paint brush cleaners, and frit, as well as varnishes, lacquers, enamels, shellacs, and water-repellent coatings for concrete and masonry, are among the allied paint products. The paints and coatings market includes waterborne coatings, solvent-based coatings, powder coatings, and other paints and coatings.

Increasing Demand from Architectural Industry

• The walls in the bathroom, for example, must be wipeable to keep them clean due to the wetness. The molecular structure of high-gloss paints is tighter than that of flat paints, making moisture penetration more difficult. As a result, these paints have found their way into restrooms.
• In addition to bringing colour and decoration to the interiors of homes, paints and coatings are employed for a number of purposes. Their roles vary depending on the situation and room in which they are used.
• Exterior paints and coatings are applied to give the house a new look while also protecting it from scorching summers, icy winters, torrential rain, and daily UV radiation without fading, peeling, or cracking.
• Thanks to recent advancements in paint technology, especially in acrylic compositions, a wide range of weatherproof coatings is now accessible.

INDIA PAINTS AND COATINGS INDUSTRY:

India’s paints and coatings sector is predicted to grow at a significant rate, with a CAGR of over 8%. The expanding demand for construction materials, combined with expanded infrastructure operations, is driving up demand for the market in question. Nanotechnology’s implementation in the paints and coatings sector is projected to open up a slew of new business opportunities. Furthermore, demand for paints and coatings is expected to rise in the coming years as a result of rising household numbers, rising spending power, and increased production and sales of automobiles in the country. Several existing cities, largely smaller cities and villages, are seeing a surge in housing projects, hospitals, and office spaces as a result of the Government of India Smart Cities Mission, driving up demand for paints and coatings in the country.

GLOBAL MARKET OUTLOOK:

Over the next five years, the global paints and coatings sector is expected to grow at a CAGR of 4.3 percent. The market is expected to be driven by increased product usage in the construction, automotive, and general industries application sectors. Increased product usage in the construction, automotive, and general industries application sectors is likely to drive the market. Rapid urbanisation and industrialisation in emerging countries such as India, China, and Southeast Asia are expected to drive product demand across a wide range of applications. Construction, automotive and transportation, and the wood sectors all employ paints and coatings. They have a significant application in the building and construction business, where they are used to protect structures from harm from the outside. In addition, the product is used to decorate residential and non-residential infrastructures and buildings, industrial equipment, automobile and marine, industrial wood, and other applications. Paints and coatings are primarily used to decorate and protect structures and infrastructure. Interior and exterior house paints, primers, sealers, varnishes, and stains are among the architectural upgrades. Architectural paints are low-VOC, odourless, and scrub-resistant, and come in a variety of textures ranging from satin to semi-gloss sheens. The construction industry is expected to rise to over USD 8 trillion in the coming years. The industry is projected to be supported by an increase in construction activity and government spending in various public infrastructure projects. Furthermore, in the building industry, advanced cutting-edge technologies are becoming the norm. Another element driving the construction industry’s growth is the increased usage of building information modelling (BIM) collaboration and cloud computing.

TOP PLAYERS WORLDWIDE:

• Shalimar Paints Ltd
• The Sherwin-Williams Co.
• Asian Paints Ltd
• Nippon Paint Holdings Co.
• Berger Paints India Ltd
• RPM International Inc.
• Axalta Coating Systems.
• Kansai Nerolac Paints Ltd
• BASF Coatings.
• Akzo Nobel India Ltd
• Kansai Paint Co. Ltd.