A rise in the level of infrastructure projects along with the innovation in automobiles and advancement in technology is driving the Performance Coatings market.

Performance Coatings Market Size – USD 89.40 billion in 2019, Growth - CAGR of 4.9%, trends –High demand for environment-friendly coatings.

The global Performance Coatings Market is forecast to reach USD 131.17 Billion by 2027, according to a new report by Reports and Data. The high-performance coating is majorly fueled by the growing demand for construction and the emergence of new buildings in both developed and developing countries. The construction and building industry hold a larger market share, followed closely by the automotive industry.

This can be mainly associated with the increase in demand owing to its properties such as durability, scratch resistance, and glossy look, which are influencing the market growth. Growing popularity among end-users, especially automotive, shipbuilding, and pipeline industries, will also encourage the growth of the market. Construction activities led by developing economies across the world will further boost the growth of the market. Increasing awareness concerning the floor coatings due to dust resistant, durable, abrasion-resistant, and waterproof features is encouraging the market demand. Emerging end-use industries, driving to the expansion of manufacturing plants and facilities is further promoting the market growth. Accelerated industrialization, the growing trend for long-lasting yet aesthetic floor across manufacturing plants, factories, warehouses, and equipment units are also contributing the market growth.

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Top Companies: Daikin Industries Ltd., Kansai Nerolac Paints Limited, Akzo Nobel NV, Toefco Engineered Coating Systems Inc., Beckers Group, The Sherwin-Williams Company, Endura Coatings LLC, AFT Fluorotec Ltd., Hempel Group, and The Chemours Company, among others.

Further Key Finding from the Report Suggestion:

• Acrylic coating additives are used in several products. They can be used in organic powder, water, or solvent-borne formulation. They are used for decorative purposes and to coat industrial products. Acrylic surface coatings are one of the major coatings in the industry. This type of coating has captured a large share of Western Europe and the North American market.
• Water-based coating is a clear fast-drying coating generally used on printed products. This type of coating is preferred not only due to environmental concerns, but it also provides substantial scruff-resistance. The segment is forecasted to grow with a CAGR of 5.0% during the forecast period.
• The industrial segment is contributing significantly to the growth of this industry. Industries such as machinery manufacturing, automotive industry, food processing, aviation transportation, science technology are using these substances. The growth of the industries is anticipated to lead to the demand for Performance Coatings.
• North America region accounts for the largest share of 24.2% of the market in 2019. Due to the increased production capacities of dominant companies in the region drives the growth. Technological progress in the manufacturing sector due to more eminent automation for material movement and excellent transportation are among crucial factors propelling the demand for the market products.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Performance Coatings market is segmented into:

Type Outlook (Revenue, USD Billion; 2017-2027)

• Epoxy
• Silicon
• Polyester
• Acrylic
• Alkyd
• Polyurethane
• Fluoropolymer
• Other

Coating Technology Outlook (Revenue, USD Billion; 2017-2027)

• Water-based
• Powder-based
• Solvent-based

End-User Outlook (Revenue, USD Billion; 2017-2027)

• Industrial
• Building and Construction
• Aerospace and Defense
• Automotive and Transportation
• Marine
• Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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