Description
Paints and coatings are applied to the exterior of the house to offer it a new look. The purpose of applying paint and coating is to protect it from freezing winters, soaking rain, blistering summers and daily bombardment of UV radiation without cracking, fading and peeling away.
The paints & coating market size was valued at USD 150.7 Billion in 2020 and projected to reach USD 202.35 Billion by 2027, growing at a CAGR of 4.3% during the forecast period, 2020-2027.
Rapid urbanization and industrialization in developed and developing countries and growing demand for industrial coating across the globe. This, in turn, is anticipated to contribute to the paints & coating market growth in the forecast period.
Moreover, the introduction of several innovative manufacturing processes and technologies to cater to new and varied demands of consumers propel the growth of the global paints & coating market in the upcoming years.
