The plastic paint global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Plastic Paint Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The plastic paint market size has grown strongly in recent years. It will grow from $92.15 billion in 2023 to $98.14 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increased demand for eco-friendly and low-VOC paint formulations, growth of construction and automotive industries, development of new application techniques, increased investment in research and development, and integration of digital technologies.
The plastic paint market size is expected to see strong growth in the next few years. It will grow to $127.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing demand for sustainable solutions, increasing urbanization and infrastructure development, adoption of digitalization and automation growing consumer awareness, and expansion of distribution channels. Major trends in the forecast period include customization and innovation, expansion of application areas, focus on high-performance coatings, shift towards water-based formulations and growing demand for antimicrobial paints.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Plastic Paint Market Overview
Market Drivers –
The growing automotive industry is expected to propel the growth of the plastic paint market going forward. The automotive industry refers to the sector involved in the design, development, production, marketing, and sale of motor vehicles, including cars, trucks, motorcycles, and other vehicles. The automotive sector is on the rise due to several factors, such as rapid technological advancements including electric vehicles (EVs), autonomous driving technologies, and connected cars, and increasing demand for convenient and efficient transportation solutions. Plastic paint is used extensively for coating vehicle exteriors, including car bodies, bumpers, trim pieces, and other exterior components. It also allows for color customization, enabling automakers to offer a wide range of color options to customers. For instance, in June 2023, according to a report shared by the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association, sales of passenger cars in the UK rose 25.8% from 140,958 units in 2022 to 177,266 units in 2023. Therefore, the growing automotive industry is driving the growth of the plastic paint market.
Market Trends –
Major companies operating in the plastic paint market are focusing on developing innovative solutions, such as artists’ acrylic paint, to cater to diverse consumer needs and preferences. Artist’s acrylic paint refers to a fast-drying, water-soluble paint made from pigment suspended in an acrylic polymer emulsion, favored for its versatility and vibrant colors in various artistic applications. For instance, in October 2021, Berger Paints Bangladesh Ltd., a Bangladesh-based paint company, launched Berger Artista, the inaugural artists’ acrylic paint crafted in Bangladesh, featuring cost-effective variants of seven primary shades, as stated in a press release. The Berger Artista series endeavors to enhance the creative endeavors of artists nationwide with its unique offerings.
The plastic paint market covered in this report is segmented –
1) By Type: Vinyl Paint, Rubber Paint, Acrylic Paint
2) By Process: Dip Coating, Spray Coating, Powder Coating, Electrophoretic Painting, Other Process
3) By Application: Household, Commercial
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Regional Insights –
Asia-Pacific was the largest region in the plastic paint market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the plastic paint market are The Sherwin Williams Company, PPG Industries Inc., AkzoNobel NV, Eastman Chemical Company, Wacker Chemie AG, RPM International Inc., Axalta Coating Systems Ltd., Valspar Corporation, Asian Paints Limited, Kansai Paint Co. Ltd., Jotun group, Hempel AS, Nippon Paint Holdings Co. Ltd., Berger Paints India Limited, DAW SE, Teknos Group Oy, Chugoku Marine Paints Ltd., Krylon Inc., Diamond Vogel Paints, Autoglym Limited, Tamiya Corporation, Dutch Boy Group
Table of Contents
1. Executive Summary
2. Plastic Paint Market Report Structure
3. Plastic Paint Market Trends And Strategies
4. Plastic Paint Market – Macro Economic Scenario
5. Plastic Paint Market Size And Growth
…..
27. Plastic Paint Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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