The increased relevance of waterborne solvent-based paints is likely to boost construction paints and coatings market growth. Increasing environmental concern, combined with the application of new norms and regulations, has increased demand for waterborne solvents paint, since these paints contain less volatile organic chemicals and hence provide higher environmental advantages than traditional paints and coatings. The expansion of building activities throughout the world is expected to boost the growth of the construction paints and coatings market. The growing population increases need for residential infrastructure, which in turn increases demand for paints and coatings. Furthermore, fast expansion in the manufacturing industries throughout the world is likely to boost the market for building paints and coatings. The volatile pricing of raw materials used in paints and coatings is projected to stymie industry expansion. Problems in creating a thin layer in powder coating, as well as lengthier drying times in water-based coating, are likely to dampen demand for paints and coatings. This aspect is anticipated to stifle market expansion.
According to Coherent Market Insights, Global Construction Paints And Coatings Market was valued at US$ 9294.1 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.3% during the forecast period (2022 to 2030).
Major Players in the Construction Paints and Coatings Industry:
1. PPG Industries, Inc.
PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through Performance Coatings and Industrial Coatings. The company was incorporated in 1883 and is headquartered in Pittsburgh, Pennsylvania. In August 2021, PPG, global supplier of paints, coatings, and specialty materials introduced PPG ENVIROCRON PCS P4 powder coating for furniture, home décor and architectural applications. This latest generation of powder coatings will offer the increased demand for matte and premium-textured surfaces for applications ranging from aluminum and steel substrates for construction and office furniture.
2. Sherwin-Williams Company
The Sherwin-Williams Company engages in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.
3. RPM International Inc.
RPM International Inc. manufactures, markets, and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. he company was incorporated in 1947 and is headquartered in Medina, Ohio.
4. The Valspar Corporation
The Valspar Corporation is one of the largest global coatings manufacturers in the world, providing coatings and coating intermediates to a wide variety of customers. Since 1806 and Headquartered in Minneapolis. The company is acquired by Sherwin-Williams.
5. Asian Paints
Asian Paints Limited, together with its subsidiaries, manufactures, sells, and distributes paints and coatings for decorative and industrial use in India and internationally. It operates in Paints and Home Improvement segments. The company offers its products under the Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans, and Kadisco Asian Paints through a network of dealers and retail stores, as well as operates asianpaints.com, an online shop. Asian Paints Limited was founded in 1942 and is headquartered in Mumbai, India.
6. Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Coatings and Mobility Coatings. It also sells its product under the Audurra, Challenger, Chemophan, ColorNet, Cromax, Cromax Mosaic, Durapon 70, Duxone, Harmonized Coating Technologies, Imron ExcelPro, Lutophen, Nason, Spies Hecker, Standox, Stollaquid, Syntopal, Syrox, Raptor, U-POL, and Vermeera brand names. The company was founded in 1866 and is headquartered in Philadelphia, Pennsylvania.
7. Berger Paints India Limited
Berger Paints India Limited manufactures and sells paints for home, professional, and industrial users in India and internationally. Berger Paints India Limited was incorporated in 1923 and is based in Kolkata, India. Berger Paints India Limited is a subsidiary of U.K. Paints India Private Limited.
8. Tikkurila Oyj
The company was founded in 1862, headquartered in Finland. Tikkurila is a Nordic paint company with expertise that spans decades. The company was acquired by PPG Industries in 2020.
*Definition- Coatings used in the construction sector to protect infrastructure from corrosion and adverse weather conditions are known as construction paints and coatings. These coatings improve the resilience of numerous infrastructural surfaces and keep them from deteriorating.
