The market is largely dependent on the increasing demand for paints & coatings from various end-use industries, such as construction, automotive, marine, protective, transportation, packaging, and others. The growing demand of the paints & coatings market is also be attributed to increased investments and cost-effective products. The growing middle-class population in emerging economies is another important factor that propels the growth of this market.

On the basis of resin type, the acrylic resin segment dominates this market, accounting to the growing applications of acrylic resins in many applications, such as automotive, roof coating, wall coating, and construction. In addition, on the basis of application, decorative paints sub-segments dominates this market; owing to the growth in architectural paints & coatings segment. Moreover, the demand from new residential and non-residential applications round the globe is also responsible in dominating this segment.

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Geographically, Asia-Pacific dominates the paints & coatings market, in 2016. Also, an increase in demand of paints and coating from construction industry in this region. However, the presence of some of the fastest-growing economies, including China, India, and South Korea, and growing demand from construction and automotive industries also propels the growth of this market in Asia-Pacific.

The global paints and coatings market can be segmented on the basis of formulation, resin, application and region. On the basis of formulation, the global paints and coatings market can be segmented into high solid coatings, waterborne coatings, solvent-borne coatings, powder coatings, and other. On the basis of resin, the global paints and coatings market can be segmented into alkyd, epoxy, acrylic, polyurethane, polyester, vinyl, and other.

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On the basis of application, the global paints and coatings market can be segmented into decorative paints, transportation, industrial, wood coatings, marine coatings, and others. On the basis of region, the global paints and coatings market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America.

Some of the key players in the global paints and coatings market include Akzonobel N.V., Asian Paints Limited, Axalta Coating Systems, BASF Coatings GmbH, Kansai Paints Co. Ltd., Nippon Paint Co. Ltd., PPG Industries, RPM International Inc., Sherwin-Williams Company and The Valspar Corporation.

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