The plastic paint global market report 2024from 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, 2024report 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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Scope Of Plastic Paint MarketThe 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 Summary2. Plastic Paint Market Report
Structure3. Plastic Paint Market Trends And Strategies4. Plastic Paint Market –
Macro Economic Scenario5. Plastic Paint Market Size And Growth…..27. Plastic
Paint Market Competitor Landscape And Company Profiles28. Key Mergers And
Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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