Report Description Report Description and Highlights

Paints and Coatings Market Outlook 2023-2028:

The global paints and coatings market size reached US$ 168.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 231.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Paints refer to pigmented liquids utilized to improve the aesthetics of the substrate, whereas coatings are mainly used to prevent substrate deterioration and enhance surface properties. Commonly available product variants include powder, high solids, waterborne, radiation curing, and solvent-borne coatings. Paints and coatings are widely used in residential and non-residential infrastructures, decorating industrial equipment and buildings.

Paints and coatings exhibit flame retardancy, anti-fouling, and anti-microbial properties. In addition, they also protect the surface from weathering, rust, adverse environmental conditions, and chemical exposure. As a result, paints and coatings find extensive applications across various sectors, such as marine, construction, automobile, and transportation.