Paints & Coatings Market Size is Estimated to grow at a CAGR of 4.7% during the forecast period

• Paints and coatings market are materials that are applied to a surface to prevent oxidation, corrosion, rusting, exposure, erosion, and other conditions that might cause surface degradation.
• These features include adhesion, wettability, and corrosion resistance. Numerous industries, including real estate, automobile, and construction, use these materials.
• Depending on how they are used and how outside influences affect the surface, they can be both protective and aesthetically pleasing.
• The market overview of the Paints & Coatings industry, including market drivers, key players, industry dynamics and structure, successful business strategies, and opportunities and threats, is provided by the xResearch research.

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KEY FINDINGS FROM REPORT

·???????? By 2030, the worldwide paints and coatings market is expected to grow at a compound annual growth rate (CAGR) of 4.7% to reach USD 196.3 million.

·???????? The market is growing due to a number of factors, including the high demand from end-use industries, the growing residential sector in developing countries, the rapid industrialization and urbanization of the world, the rising global spending on aesthetic appearance for both residential and commercial purposes, and the growing demand for powder coatings in the shipbuilding and pipeline industries.

·???????? The global paints and coatings market is divided into segments based on technology, including ultraviolet (UV), powder coatings, solventborne paints, and waterborne paints. It is projected that the waterborne category will lead the market from 2022 to 2030.

·???????? The global paints and coatings market is divided into segments based on resin, including vinyl, fluoropolymer, acrylic, alkyd, epoxy, polyester, and polyurethane. In 2021, the acrylic category had the biggest market share. Over the forecast period, it is anticipated that the category will continue to lead.

·???????? The market is divided into architectural, industrial, and other segments based on the end-use industry. In 2021, the market was led by the architectural and then industrial segments. For the duration of the projection, the tendency is anticipated to continue.

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KEY MARKET INDICATORS

·???????? In order to meet the increasingly varied and novel expectations of consumers, a number of cutting-edge manufacturing techniques and technologies have been introduced into the global paint and coatings industry in recent years.

• Nanocoatings, anticorrosive protection, and low-VOC content coats are a few of the significant new technologies on the market. These items have a high level of scratch and wear resistance, as well as the ability to conduct electricity, self-heal, and provide UV protection.

·???????? In order to lessen their environmental impact, the top companies in the industry are also placing a strong emphasis on creating eco-friendly coatings, such as those that are powder- and water-based. Over the course of the forecast period, it is anticipated that such technological advances and the launch of novel and creative goods would support the market's expansion.

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