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3 years the global paint market value is expected to exceed $ 176 billion

Hits:Updated:2017-04-17 11:04:33【Print】

According to Persistence Market Research, a report on the global paint and coatings market - "Paint and Coatings Global Market Research: By 2020, global industrial paints and coatings will usher in the highest growth" - by 2020, global paint and The market value of the coatings market will rise from $ 121.9 billion in 2013 to $ 176.5 billion, and CAGR (annual compound growth rate) for 2014-2022 is 5.5%. The report also analyzes several factors that have contributed to the growth of the global coatings industry in recent years.
The report notes that most of the construction markets in developing countries are not saturated. The local population growth brought about increased demand for building materials, which contributed to the development of paint coatings market. Population and per capita income growth is also a major driver of growth in demand for cars and consumer goods. In addition, in the past few years, the use of metal materials are becoming more common.
According to the report, the development of the paint market also benefited from the development of private space. With the growth of the global population and the number of core families, demand for new homes is also rising, and new homes have spurred the development of the paint and coatings market. At the same time, the development of the automotive and consumer goods markets has also contributed to the development of the paint and coatings market. Rapid progress in the industrialization process and the gradual rise of the home improvement market and the terminal application market, are driving the global paint and coatings industry development and growth.
Regional analysis shows that the global paint coatings market, the Asia-Pacific region dominated, North America, Europe followed. Eastern Europe, the Middle East, Asia-Pacific and Latin America and other developing countries, office space and housing in full swing, the future growth momentum unabated.
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