Global Paints and Coatings Market: Key Highlights
Global Paints and Coatings Market: Key Market Dynamics
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Global Paints and Coatings Market: Regional Overview
Asia-Pacific is anticipated to witness largest growth in paints and coatings market during the forecasted period owing to the ongoing constructions and infrastructural activities in emerging countries such as India, China, Malaysia and Indonesia. For instance, National Bureau of Statistics of China, in 2019 the investment in China was increased by 3.8% than previous years. Moreover, growing electronic industries in countries such as India, China, and Thailand has also expected to surge the market growth.
Growing concerns regarding release of volatile organic and presence of perilous chemicals among the consumers in the region has led to implementation of stringent regulatory frameworks in the past few years. For instance, regulation imposed by the US government like The Clean Air Act (CAA) to control the air pollutants have anticipated surge the market growth.
Global Paints and Coatings Market: Key Players Overview
BASF SE operates through various business segments namely chemicals, materials, industrial solution, surface technologies, nutrition & care, and agriculture solutions. In 2019, the BASF generated sales of USD 66.67 billion. In February 2018, BASF coating division in has launched a new product line in Europe for its Glasurit and R-M refinish paint brands that make automotive refinishing more sustainable.
Akzo Nobel N.V. established in 1792 and is engaged in manufacturing paints and coatings. The company has portfolio of brands including Dulux, International, Sikkens and Interpon in over 150 countries. In September 2017, the company opened the substantial paint plant in Ashington, in the UK with an aim for production of Dulux one of the UK leading decorative paint brand.
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