Transparency Market Research, New York: A growing number of paints & coatings manufacturers and formulators are aiming at harnessing the characteristics of acrylic resins to meet wide cross-section of needs in end-use industries such as aerospace, automotive, building and construction, and healthcare. An array of cost-effective formulations are being utilized as wall coatings, roof coatings, and architectural paints, helping the market to evolve steadily.
Market analysts at TMR project the paints & coatings market to expand at CAGR of 5.2% between 2018 and 2026.
Players in the paints & coatings market are aiming at unveiling high-performing solvents to improve the characteristics of paints and coatings to meet demands in developing economies of Asia Pacific.
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Most players in the paints & coatings market are aiming at unveiling new formulations that are not just high performing but also environmentally friendly. Top players are aiming at offering cost-effective paint and coating systems. Several chemical companies have increased their research and development funding to unveil new formulations, such as for healthcare industry. This will also give them a competitive edge over others.
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Some of the key names in the paints & coatings market are Nippon Paint Holdings, Akzo Nobel N.V, PPG Industries, Valspar, Sherwin-Williams Company, and BASF SE. They are also focusing on mergers and acquisitions.
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