The Global Finishing Coatings Market size is expected to reach USD 180.03 Billion by 2028 and is expected to grow at a CAGR of 3.3% during the forecast period, 2021-2028, due to the increasing demand for paints and coatings in various application areas such as manufacturing, construction industry, and others. The growth of this market is also driven by the need for coating materials that are environment-friendly and sustainable.
Finishing Coatings are a type of coating that is applied on the surface to provide protection and finish. They are typically used for aesthetic purposes or in industrial applications where corrosion prevention, chemical resistance, or other protective properties may be needed. In some cases, finishing coatings can be considered as complete surfaces such as flooring materials like epoxy, polyurethane, or acrylic sealer. Finishing coatings can be classified as natural material and artificial materials depending on the content of pigments or other additives used in its formulation.
On the basis of Types, the market is segmented into natural material and artificial material.
Natural material finishing coatings are usually based on a natural resin, such as linseed oil or tung oil. They also may include various pigments mixed with the base binder to give them color and opacity. Other materials that can be used in these formulations could include wood flour for filler, ground shellac flakes for a gloss coating, powdered alumina which is an abrasive agent, and waxes of different kinds. Natural finishing coatings contain no chemical additives and have low toxicity levels when compared to artificial ones.
Artificial finishing coatings are usually based on chemical binders, such as alkyd resins or polyurethane. They can also contain some organic pigments and /or inorganic fillers to give them color without opacity. The main difference between natural vs artificial is that the latter contains some additives which have a higher toxicity level than their counterparts while having better durability levels when exposed to harsh environments.
On the basis of Application, the market is segmented into manufacturing, construction industry, and others. Manufacturers of the finishing coatings are usually large-scale companies in various industries with a long history of manufacturing paints or other painting products such as automobiles, furniture, household appliances, etc.
The use of finishing coatings in manufacturing is usually to increase the longevity and durability of a product. Finishing coatings are applied after painting, varnish or any other type of coating has been completed on a surface that needs protection from outdoor elements such as sun, weathering, abrasion, etc. Furthermore, they can be used for decorative purposes too which involves applying colors over existing coats in order to create an aesthetically pleasing effect that lasts months before needing reapplication again.
The use of finishing coatings in the construction industry is very important. One example where they are applied often is on exterior walls and ceilings, which provides protection from sun damage, weathering, or water-related damages as well as a decorative enhancement for an aesthetically pleasing effect that lasts months before needing reapplication again.
Finishing coatings can also be used to protect furniture such as sofas or armchairs by applying it to their surfaces - this helps keep them protected against scratches caused by pets, children, or everyday wear and tear while adding a layer of luxurious appeal that sets them apart from other types of upholstery without additional colors being applied. They are commonly seen on hardwood floors too because they offer excellent scratch resistance along with lasting protection from spills or stains.
On the basis of Region, the market is segmented into North America, Europe, Asia Pacific, and Latin America. The North American market is expected to be the fastest-growing market in terms of revenue. The main reason for this is that the region has a high per capita income and an established infrastructure which leads to higher demand from both the manufacturing and construction industry.
The Asia Pacific finishing coatings market is projected to grow at the highest CAGR between 2021-2028 due to its rising economy as well as increasing export opportunities. Latin America will continue experiencing volatility with fluctuations in currency values owing to volatile economic conditions
Europe stands out among all regions because it hosts major manufacturers such as AkzoNobel NV (the Netherlands), BASF SE (Germany), and PPG Industries Inc., the USA who are investing heavily in research activities related to finishing coats.
The global finishing coatings market is driven by the increasing demand for high-quality, paint products. The growing need to ensure the safety and quality of environments has led to increased spending on building paints and other finishes in order to improve indoor air quality.
Growth drivers include:
Up Market Research published a new report titled “Finishing Coatings Market research report which is segmented by Types (Natural material, Artifical material), By Applications (Manufacturing, Construction Industry, Other), By Players/Companies Huntsman Corporation, Sumitomo Chemicals, Dow Chemical Company, BASF, Bayer, Kemira, Archroma, Evonik Industries, FCL, HT Fine Chemical, Kapp-Chemie, Nicca Chemical, Omnova Solutions, Organic Dyes and Pigments, Pulcra Chemicals, Resil Chemicals, Rudolf, Lubrizol Corporation”.
|Report Attributes||Report Details|
|Report Title||Finishing Coatings Market Research Report|
|By Type||Natural material, Artifical material|
|By Application||Manufacturing, Construction Industry, Other|
|By Companies||Huntsman Corporation, Sumitomo Chemicals, Dow Chemical Company, BASF, Bayer, Kemira, Archroma, Evonik Industries, FCL, HT Fine Chemical, Kapp-Chemie, Nicca Chemical, Omnova Solutions, Organic Dyes and Pigments, Pulcra Chemicals, Resil Chemicals, Rudolf, Lubrizol Corporation|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||214|
|Number of Tables & Figures||150|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Natural material, Artifical material and By Application Manufacturing, Construction Industry, Other.
Some of the companies that are profiled in this report are:
Finishing Coatings Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Finishing Coatings Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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