International. The value of the global paints and coatings market is projected to be around US$181.3 million in 2020 and is estimated to grow at a CAGR of around 5.0% between 2015 and 2020.
According to the MarketsandMarkets study, demand for low-VOC, non-hazardous, environmental paints and coatings has increased from the end-user industry since the last decade. The paints and coatings market is segmented by different types of resin such as acrylic, alkyd resin, epoxy, polyurethane, polyester, and others.
The Asia-Pacific region is the fastest growing segment of this market and is mainly attributed to the high rate of economic growth followed by the growing industrial sector, especially in China and India. Markets in Asia-Pacific and the rest of the world are expected to show excellent growth over the next five years on par with those of related industries expected to stabilize the overall business need in the respective regions.
Asia-Pacific is the largest market, both in terms of volume and value, followed by Europe. China, Brazil, India and other Middle Eastern countries that expect them to persist as successful markets in the paints and coatings sector.
