Paint market scale will reach $26.598 billion by 2022

Joint according to the market research firm (AlliedMarket) released the latest report, the global paint market in 2022 will reach $26.598 billion, 2015-2022, the compound annual growth rate of 4.1%. In 2015, the global paint market value of $20.023 billion, the main revenue comes from the coating area. In 2015 a leading position in the global paint market in the asia-pacific region, and by 2022 is expected to continue to keep this advantage.

The global paint market roughly divided into organic pigment, machine and special paint pigment three areas.

Automobile and building materials industry consumption growth is expected to promote pigment market growth. Pigments in flexible packaging, custom products and the application range of the individualized product will be increased, with the development of the market terminal applications, more and more people are realizing the importance of the global paint market sustainable development drive.

Can speed up urbanization, emerging economies such as India, China, Brazil and other countries, will lead to a large number of civil construction project investment and the growth of the automobile consumption, and become the key driver for the development of coatings industry, leading to paint consumption growth. In 2015, 2/5 of the total pigment market consumption coating field, expected future will remain its dominance, compound annual growth rate will reach 4.6%.

Research shows that China is one of the main global paint consumption country, accounts for about 3/5 of the total in the asia-pacific market, followed by India. In North America, the United States is one of the main paint market, the compound annual growth rate is expected to reach 4.2% in the future.

Inorganic pigments, titanium pigment market annual compound growth rate is expected to reach 4.1%.

The global paint market leading companies are taking a variety of strategies to gain more market share, main strategies including new product releases, joint ventures, acquisitions, cooperative, expansion and investment, etc.

                                                                                                                                                  By Nicole