As the world recovers from the disruption caused by the COVID-19 pandemic, the global paints and coatings market is expected to regain its former growth progression as well. The industry has faced considerable hurdles in 2020 with sales declining significantly as production volumes plummeted across industries such as automotive and metal processing. Construction is also a significant consumer for industrial coatings manufacturers, and hence its slowdown as a result of the coronavirus has hit this industry as well. Certain paints and coatings market players are suffering the effects of this more than others, depending on the degree to which their enterprises are diversified.
According to Reports and Data, the global paints and coatings market size was USD 138.81 Billion in 2019 and is expected to register a CAGR of 5.1% to reach USD 207.52 Billion by 2027. APAC is now the largest regional market for paints and coatings producers. Demand for paint and coatings companies is increasing in China and India, since new buildings of all types require both protective and ornamental coatings.
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- Sherwin-Williams Company
- PPG Industries, Inc.
- Akzo Nobel N.V.
- Nippon Paint Holdings Co., Ltd.
- RPM International Inc.
- Axalta Coating Systems Ltd.
- Kansai Paint Co., Ltd.
- Asian Paints Limited
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