Akzo Nobel N.V. (Netherlands), PPG Industries Inc. (US) are Leading Players in the Paints & Coatings Market
The paints & coatings market is projected to grow from USD 194.5 billion in 2024 to USD 227.5 billion by 2029, at a CAGR of 3.2% between 2024 and 2029. Paints & coatings are necessary in the residential sector to preserve different surfaces and to improve aesthetic appeal. With the variety of colors, textures, and finishes they provide, homeowners may showcase their individual taste and blend in with existing architectural elements. In addition to being aesthetically pleasing, these coatings are essential for protecting surfaces from the weather. They aid in shielding exteriors, walls, and ceilings from UV rays, moisture, and other contaminants that might eventually cause harm. Low-VOC (volatile organic compound) and environmentally friendly paint alternatives have been developed as a result of recent advances in paint technology, improving indoor air quality and lessening environmental effect. Because these paints are designed to reduce hazardous emissions, they are a healthier option for the health of your home and the environment. Furthermore, modern coatings frequently include improved qualities like resistance to mildew, which helps preserve the longevity and cleanliness of surfaces in moist environments.
The major players operating in this business include, Akzo Nobel N.V. (Netherlands), PPG Industries Inc. (US), The Sherwin-Williams Company (US), Axalta Coating Systems LLC. (US), Jotun A/S (Norway).
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Akzo Nobel N.V.: The international company AkzoNobel has led the paint & coatings business worldwide. The corporation employs about 34,500 people worldwide and conducts business in more than 150 countries. Customers from a variety of industries, including aerospace, automotive, and construction, trust well-known brands like Dulux, International, Sikkens, and Interpon, which are part of AkzoNobel's extensive portfolio.
In order to concentrate on its core Paints & Coatings operations, AkzoNobel recently divested its Specialty Chemicals business and opened a new production facility and color laboratory in Noida. Additionally, AkzoNobel acquired BASF's industrial coatings business in India. These calculated actions show AkzoNobel's dedication to sustainability, innovation, and satisfying the changing needs of its global clientele.
PPG Industries Inc.: PPG Industries Inc. is a leading global player in the paint & coatings sector. The business serves a variety of end-use areas, such as consumer goods, transportation, industrial, and construction, and it is present in more than 70 countries. An important portion of PPG's operations is its paint & coatings division, which offers finishes, adhesives, sealants, and protective and decorative coatings. Automotive OEM Coatings, Industrial Coatings, Packaging Coatings, and Specialty Coatings and Materials are the company's four strategic business areas. The company offers a wide range of goods, including paint strippers, stains, transparencies, transparent armor, and paint films. With recent innovations such as the launch of TOMORROW INCLUDED for its Architectural Coatings business in Europe, the Middle East and Africa, and Asia, PPG has continued to innovate and grow its businesses.
Related Reports:
Paints & Coatings Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Fluoropolymer, Vinyl, Polyester), Technology (Waterborne Coatings, Solvent-borne Coatings, Powder Coatings), End Use (Architectural, Industrial),Region - Global Forecast to 2029
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