Technavio released its latest market research report, entitled "Global Paint and Coatings Market 2020-2024" (Graphic: Business Wire)
Technavio released its latest market research report, entitled "Global Paint and Coatings Market 2020-2024" (Graphic: Business Wire)
LONDON--(BUSINESS WIRE)--According to Technavio’s latest report, the global paint and coatings market is expected to grow by USD 33.64 billion from 2020 to 2024, with a compound annual growth rate of approximately 4%. The report provides the latest analysis on current market conditions, the latest trends and driving factors, and the overall market environment. The report also provides market impact and new opportunities due to the COVID-19 pandemic. Download a free sample report with COVID-19 crisis and recovery analysis.
The growth of the global automotive industry is one of the key factors driving the growth of the global paint and coatings market. Economic growth in emerging countries and increased foreign investment have increased per capita income. Therefore, consumers' ability to buy cars has improved. In addition, the public transportation infrastructure is changing with the increase in the fleet. These factors are increasing paint and coating activity in the automotive industry.
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Increasing adoption of UV-curable coatings will be a major market trend
Suppliers are developing UV-curable coatings with high performance and rapid assembly line advantages. Most UV-curable coatings are scratch and mar resistance. Market participants such as BASF provide a variety of multifunctional polyol intermediates for the manufacture of UV-curable acrylic monomers and oligomers, which are then used in UV-curable coatings. Suppliers are further developing environmentally friendly coating products to comply with strict government regulations. The durability, versatility, appearance and excellent weather resistance of environmentally friendly UV-curable coatings will encourage more and more automotive original equipment manufacturers to adopt them, which is one of the main trends in the paint and coatings market.
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2020-2024 Paints and Coatings Market: Key Highlights
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Part 02: Report Scope
Part 06: Market by resin type
Part 07: Market by Technology
Part 08: Market by Application
Technavio is the world's leading technology research and consulting company. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and formulate effective strategies to optimize their market position. Technavio's report library has more than 500 professional analysts, including more than 17,000 reports, and it is constantly increasing, covering 800 technologies across 50 countries/regions. Their customer base includes companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio's comprehensive coverage, extensive research, and actionable market insight to identify opportunities in existing and potential markets, and evaluate their competitive position in changing market scenarios.
Technavio Research Jesse Maida Head of Media and Marketing United States: +1 844 364 1100 United Kingdom: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
The global paint and coatings market will grow by USD 33.64 billion in 2020-2024
Technavio Research Jesse Maida Head of Media and Marketing United States: +1 844 364 1100 United Kingdom: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/