Published on : Nov 08, 2016
ALBANY, NY, Nov 08, 2016: The report studies the global market for construction paints and coatings and presents reliable forecasts regarding the market’s probable development between 2016 and 2020. The report sheds light on all relevant aspects of the construction paints and coatings industry in order to provide readers with a comprehensive overview of the market. The report is titled ‘Global Construction Paints and Coatings Market 2016-2020’ and is available for sale on the official website of ResearchMoz.us.
Construction paints and coatings are vital aesthetic as well as functional components of any new construction. Due to the steady technological development in paints and coatings, their use has become important for their protective benefits. Construction paints and coatings protect the structure from microbial incursions by presenting a hostile barrier, and can also play a role in the overall ventilation dynamics of the construction.
According to the report, the global construction paints and coatings market is expected to exhibit a rapid CAGR of 6.31% from 2016 to 2020.
The booming global construction industry is the prime driver for the global construction paints and coatings market. The steady improvement in the economic conditions in emerging economies has necessitated new residential as well as commercial construction, which has directly driven the demand for construction paints and coatings. The sustained need for new housing in developing countries due to rapid urbanization is likely to remain a key growth driver for the global construction paints and coatings market in the coming years.
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On the other hand, the complexity of the regulations governing the formulations of paints and coatings is a key restraint on the global construction paints and coatings market. Several components conventionally used in paints and coatings have significant potential to cause environmental damage, due to which their use has come under the scanner in recent years. As a result, many conventional paints and coatings components are being actively banned or severely restricted. This has forced the global paints and coatings industry to innovate new formulations while retaining the advantages presented by the conventional ones. This has become a notable expense for players in the global construction paints and coatings market.
Nevertheless, the demand for expensive but environmentally viable paint and coating formulations has grown notably in recent years due to the rising number of consumers opting to carry out their residential painting tasks themselves. This rising preference for DIY has led to the customers being able to spend more on the paints themselves, sans labor fees. This has also generated a sizeable demand for premium paints offering value-added benefits such as increased resistance to moisture or other environmental phenomena. This is a key opportunity for the construction paints and coatings industry and is likely to remain a leading revenue generator for the industry in the coming years.
Regionally, the report looks into the performance of the construction paints and coatings market in Asia Pacific, the Americas, and Europe, the Middle East, and Africa. Detailed data regarding the market’s performance in each region in the last few years is provided in the report, which helps deliver a clear understanding of the geographical dynamics of the global construction paints and coatings market.
The report also examines the competitive landscape of the global construction paints and coatings market by profiling key players such as BASF, AkzoNobel, Sherwin-Williams, PPG Industries, and Axalta Coating Systems.
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