Emergence of Nanotechnology to Boost Paints and Coatings Market

Published By : 09 May 2016 | Published By : QYRESEARCH

The increasing building and construction industry and the rising activities of manufacturing in the region of Asia Pacific are amongst the major factors fuelling the market for paints and coatings. In addition¸ the rising demand for waterborne paints and coatings is also a major factor augmenting the growth of the market. 

The prime trends seen in the market for paints and coatings have been elaborated on as under:

  • Key Enterprises to Rise Owing To New Product Introduction: The key names within the global paints and coatings industry have focused on product innovation for gaining a competitive edge within the market. Owing to the fact that prime multinational companies including PPG, Akzo Nobel, Kansai Paint, Sherwin-Williams, and Chugoku Marine Paint have production in emerging regions, the introduction of cutting-edge technologies is considered as the most lucrative opportunity for raising the consumer base. 

For example: Akzo Nobel launched an improved and new architectural warranty systems in January 2014 for the AAMA compliant category of architectural coatings. In addition, PPG has launched ELECTROCOLOR 3500 coatings in the same year. This is a lightly-tinted clear coating made particularly to be used on metal surfaces of tablets, smartphones, notebooks, and other electronic devices. 

  • Emergence of Nanotechnology: The emergence of nanotechnology as a fresh area of interest within the industry having thousands of patents issued already in support of the major enterprises. A number of companies have been promoting futuristic applications including nanotubes in electrically conductive coatings and have also raised the thermosetting metal and resin reaction’s pace for conductive coatings within inks for the expansion of their product offerings. 
  • Rest of the World to Register Swiftest Growth Rate: The region of Asia Pacific held the largest share in the market for paints and coatings in 2012 and held a share of 39% in the market. This is owing to the increasing expansion in construction and manufacturing activities within the region, propelling the market growth here. In addition, the rising demand in South America, the Middle East, and Latin America will also augment the growth of the market within the Asia Pacific region. On the other hand, Rest of the World (RoW) is predicted to register the highest CAGR from 2013 to 2019.
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