Global Paints and Coatings Market: Enticing Moments for Market Players with the Enhancing Infrastructure Associated with Shipbuilding and Piping

Global Paints and Coatings Market

Paints and coatings are the liquids, or liquefiable compounds that are applied on various substrates/surfaces for the enhancement of protection levels against various environmental threats such as corrosion, water seepage and various other elements. These substances do not just provide protection; rather they are also available in different color ranges which help in the enhancement of the appeal of the surface they are used upon. Due to the availability of various technologies for production of these compounds, each of them provides different textural feel which is another unique features that is associated with these products.

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The main factors behind the growth of the market are:

  • Green environmental coatings: One of the major factors responsible for the market inhibitions for paints and coatings is the presence of varying amounts of VOC emissions and compounds during the production and application of these products. This inhibition has resulted in a majority of the manufacturers focusing on the development of environmental-friendly green coatings which reduce the levels of VOC emissions significantly during the production as well as application stages
  • Provision of durable coatings with better performance and aesthetics: Along with the focus on development of environmental-friendly coatings another innovation that has been experience by the paints and coatings market is the development of durable coatings availability that offer just as good aesthetic appeals without compromising on the performance characteristics. These durable coatings are developed with specific components that do not compromise on the characteristics while providing enhanced aesthetics in comparison to the traditional coatings systems

The market is segmented on the basis of resin type as acrylic, epoxy resin, alkyd, polyurethane, polyester, others; technology as water-based technology, solvent-based technology, high solids, powder coating, others; application is segmented into architectural application, industrial application.

Some of the recent market developments are as follows:

  • In July 2019, Alltimes coatings announced the launch of “Advantage Graphene” during the Advanced Materials Show held in Telford, United Kingdom from 10-11 July, 2019. The coating system is designed for metal roofs providing high levels of anti-corrosion characteristics. The coating system has been designed to offer high levels of effectiveness for the long term during the repairing of metal roofs with guarantees of protection for a period of thirty years
  • In June 2019, HMG Paints Limited announced the availability of an e-commerce site initially consisting of decorative coatings range offered by the U.K.’s leading manufacturer of paints. The other product ranges will be available at a later stage, as the company looks towards expansion of their operations and business. The site, “https://shop.hmgpaint.com/” has been developed in collaboration with Digitl providing an all-in-one stop for various different consumers

 “According to Data Bridge Market Research, global paints and coatings market is expected to reach USD 233.15 billion by 2026, growing at a substantial CAGR during the forecast period of 2019 to 2026”

Some of the major players operating in the market are The Sherwin-Williams Company, BASF SE, Axalta Coating Systems, PPG Industries, Valspar, Akzo Nobel N.V, Nippon Paint Holdings, KCC Corporation, Jotun A/S, Asian Paints Limited, BASF SE, Berger Paints India Ltd., RPM International Inc., Kansai Paints Co. Ltd., Masco Corporation, Fujikura Kasei Co. Ltd., Kc Corporation Ltd and Noroo Paint Co. LTD. among others.

With the large-scale development of shipbuilding and piping infrastructure globally, the wide-range of adoption for powder-based coatings has been enhanced. The effectiveness of powder-based coatings technology in the protection of shipbuilding and piping infrastructures is due to the fact that it reduces the application time and provides similar protection from corrosion for the different substrates.