Art Paints Market Size, Share, Growth, and Industry Analysis, By Type (Water-based Paint, Solvent-based Paint, Others), By Application (Family, Office and Business, Hotel and Spa, Restaurants, Cafes and Bars, Others), Regional Insights, and Forecast To 2032

Updated On: 15 April 2024

Art Paints Market REPORT OVERVIEW

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The global art paints market size was USD 2956.6 million in 2022. As per our research, the market is projected to touch USD 7820.4 million by 2028, exhibiting a CAGR of 17.6% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the Global Art Paints Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

increased use of A surface treatment that uses water as a solvent to disperse the resin used to make the coating or paint is known as a water-based coating. The market is expanding as a result of the widespread use of these coatings due to their low volatile organic compound (VOC) content. The study on the global paints and coatings market offers a comprehensive analysis of the industry. The research provides a thorough analysis of the market's key segments, trends, drivers, restraints, competitive environment, and other important elements.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

LATEST TRENDS

"Growth of the market in recent years"

Paints and coatings are used to beautify and protect objects such as buildings, cars, appliances, and other goods. The ornamental paints and coatings sector is heavily influenced by the state of the construction sector, whereas the protective paints and coatings sector is more strongly linked to the performance of the automotive, big appliance, and industrial equipment sectors. Architectural coatings include interior and exterior house paints, primers, sealants, varnishes, and stains. They are sold to contractors and the general public through retail and wholesale businesses as well as directly to important business clients. Industrial coatings include, for instance, paints for automobiles, can and coil coatings, furniture finishing, and paints for road marking.

Art Paints Market SEGMENTATION

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• By Type

Based on type the Global Art Paints Market is classified as Water-based Paint, Solvent-based Paint, Others.

• By Application

Based on application the Global Art Paints Market is classified as Family, Office and Business, Hotel and Spa, Restaurants, Cafes and Bars, Others.

DRIVING FACTORS

"The Utilization as a Catalyst to Boost the Market Growth "

As people become more aware of how coatings affect the environment, human health, and alternative sustainable technologies, there is an increasing demand for water-based paints and coatings. Due to their lower price compared to the more prevalent solvent-based paints and varnishes, water-based paints and coatings are becoming more and more popular among manufacturers. Solvent-based paints and coatings also have rising feedstock costs and variable supply. Infrastructure and structures are mostly protected and decorated using paints and coatings. Exterior and interior paints, sealants, primers, stains, and varnishes are some examples of these architectural advancements. Architectural paints are available in a variety of textures, from flat to semi-gloss, and allow for odourless paints with enhanced abrasion resistance.

"Extensive Application in Laundering Process to Multiply the Production and Market Growth"

Water-based coatings are often used in architectural coatings. Technologies like powder coatings and high solids are becoming more and more well-liked as a result of their low VOC content, which makes them more environmentally friendly than solvent-based coatings. As a result, it is projected that the market for paints and coatings would be driven by the usage of ecologically friendly coating materials during the forecast period. PVDF is used mostly in architectural applications where it is necessary to maintain excellent aesthetics and substrate protection over the long term. PVDF is the most used fluoropolymer due to its sufficient solubility in ester and ketone solvents.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market"

Waterborne coatings require more time to dry and cure than solvent-borne coatings do. Humidity also alters the superior flow properties of aqueous coatings, which has an impact on how the coating is applied. High humidity causes water to not readily evaporate, which results in a poor cure and diminished effectiveness. Waterborne coatings are also susceptible to cold temperatures. Many aqueous coatings lose their usefulness after freezing. In the building and construction sector, fluoropolymers like polyvinylidene difluoride (PVDF) are used for both industrial and architectural coatings.

Art Paints Market REGIONAL INSIGHTS

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"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

In terms of volume and revenue, Asia Pacific held the largest market share in 2022 and is likely to keep it throughout the anticipated period. This is a result of expanding building and construction activity as well as the automotive industry in China, India, and Japan. Due to their use in covering both non-residential and residential infrastructures, paints and coatings are in higher demand. They may be used effectively to decorate walls, windows, and furniture. China is the primary customer because of its expanding population, which is fueling the market's expansion through the residential construction industry. Additionally, the value of the market in the Asia-Pacific region is increased by their use in the automobile sector.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• KABEL (Germany)
• FEMA (US)
• CARPOLY (US)
• Nippon Paint (Japan)
• COLDEC (US)
• 3 Trees Group (US)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.