Rising Demand to Drive the Paints and Coating Market Globally

Posted on: Oct-2017 | By: Future Market Research | Chemicals & Materials

Any liquid, mastic, or liquefiable formation is paint. When this paint is smeared in a slim layer to a substrate will convert into the solid film. It aids in the protection of the object, coloring it, and providing texture to items. Instead of the aesthetic features, an industrial coating is the type of paint that is well defined by its quality of protectiveness, even though it can offer both as well. For the control of corrosion of the steel structures, mostly industrial coatings are utilized. It used in corrosion management of steel structure such as underground pipelines, offshore platforms, bridges, and so on.

The companies that manufacture coatings & paints are anticipated to develop well in coming period as they are utilized to resolve several industrial issues. Industrial paints consist of solvents, binders, and mix pigments into it. For masonry & concrete, coating such as varnishes, stains, enamels, lacquers, water repellent coating, and shellacs are established. Frit, putties, paint brush cleaner, and varnish & paints removers are the products of manufacturing allied paints.

The high requirement from the end-user industries is among the major factors contributing to the growth of the paints & coatings market globally. Several industries of coatings and paints have witnessed a fast rise in its utilization. Construction, manufacturing, and automotive industries are the fields where coatings & paints are used extensively. In construction & building, decorative coatings & paints are used.

There is a huge unexplored market in the developing countries for the construction industry which has been growing with each passing year owing to the mounting population around the world. These factors are increasing order for construction materials, comprising coatings & paints. The rising population and mounting per capita income have been propelling the need for automotive & consumer goods, which in turn, is increasing industrialization. The growing digit of nuclear families is also amplifying the need for new houses, thus further boosting the market growth.

On the contrary, protective coatings & paints are utilized in automotive, industrial equipment, and major appliance industries. Thus, with increasing applications of coatings & paints in numerous activities, the growing market is predicted to develop year by year.