Biocides are being used in paints to enhance their longevity and to maintain their quality. Biocide additives have been designed to keep bacteria from spoiling paints during storage or to keep fungi and algae from growing on the applied paints. The market for biocides in paints will continue to grow due to the switch from solvent based to water based paints as they are not hazardous for human health and environment and also due to growing demand for water-based paints with biocides that minimizes fungal and algae growth. However, replacement of traditional biocides based on chlorine and formaldehyde with environmentally friendly biocides adds to the costs of paint production.
THE BUSINESS RESEARCH COMPANY EXPECTS THE PAINTS AND COATINGS GLOBAL MARKET TO GROW TO $253 BILLION BY 2021
Asia Pacific was the largest region in the paints and coatings market in 2017, accounting for more than half of the market share.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, smart coatings and high performance coating technologies are being adopted by companies to enhance efficiencies of coating compounds. Nano coatings, are a type of smart coating which has extremely tiny particles and unique characteristics such as flexibility, resistance to corrosion and micro bacterial growth. Fluoropolymer coating is known for its high performance properties such as long life cycle and high cost efficiency.
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PPG Industries Inc. was the largest player in the paints and coating market in 2017, with revenues of $14 billion in 2016. PPG Industries’ strategy is to ensure smooth integration of acquired companies to further strengthen their product, technology and distribution offerings to customers.
Paints are any liquids or liquefiable or mastic compositions which on application to a substrate in a thin layer will convert into a solid film. They are most commonly used to protect color or provide texture to objects. An industrial coating is a paint or coating defined by its protective, rather than its aesthetic properties, although it can provide both. The most common use of industrial coatings is for corrosion control of steel structures such as offshore platforms, bridges and underground pipelines.
Paints And Coatings Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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