Reportlinker.com has announced the release of the report "Paints & Coatings Market by Resin, Technology, Application And Region - Global Forecasts to 2025,” according to a press release by the organization. The paints and coatings market is projected to grow from USD 147.2 billion in 2020 to USD 179.4 billion by 2025, at a CAGR of 4.0% between 2020 and 2025. The increasing urban population is a significant factor for the rising demand for building and construction, automotive, packaging. However, stringent government regulations in the paints & coatings industry are hampering the growth of the solvent borne coatings market, the report notes
The waterborne technology segment is expected to hold the largest share of the overall paints coatings market during the forecast period. The waterborne segment is expected to grow on the backbone of the building and construction industry, which is anticipated to witness good growth, mainly in the developing countries. The paints and coatings market in the architectural end-use industry is expected to witness the highest CAGR during the forecast period.
Increase in environmental awareness has led to innovations in the coating industry to provide affordable quality products, of high quality, possess value-added features, and meet global trends.
APAC paints & coatings market is estimated to register the highest CAGR during the forecast period.
The APAC paints & coatings market is segmented into China, Japan, India, Indonesia, Thailand, and Rest of APAC.The APAC region is a lucrative market for paints & coatings owing to the increasing demand from industrial applications and improving economic conditions.