Meticulous Research®, a leading global market research firm, has published a report titled "Paints & Coatings Market Size, Share, Forecast, & Trends Analysis by Resin (Acrylic, Epoxy, Polyester, Polyurethane, Silicone), Technology (Water, Solvent, Powder, UV), Application (Commercial, Industrial, Infrastructure, Marine) - Global Forecast to 2031."

According to this latest publication from Meticulous Research®, the paints & coatings market is projected to reach $244.6 billion by 2031, growing at a CAGR of 4.4% from 2024 to 2031. The market's growth is primarily driven by the increasing demand in the construction and real estate sectors and the expansion of the automotive industry. However, concerns about disposal and emissions related to solvent-based coatings are restraining market growth. Additionally, the growing demand for eco-friendly paints and coatings, increased investments in infrastructure projects, and the rising preference for water-based coatings are expected to create growth opportunities. Nonetheless, stringent environmental compliance and safety regulations pose significant challenges for market players.

The integration of nanotechnology into smart coatings is also emerging as a key trend in the paints and coatings market.

The market is segmented by resin, technology, and application. The study also evaluates industry competitors and analyzes the market at both regional and country levels.

By resin, the paints and coatings market is segmented into acrylic, epoxy, alkyd, polyester, polyurethane, fluoropolymer, vinyl ester, silicone, and other resin types. In 2024, the acrylic segment is expected to hold the largest share of over 45.0% of the market. This dominance is due to the versatility of acrylic resins and their ability to be formulated into low-VOC paints and coatings, as well as their increasing use in various types of coatings, including water-based and solvent-based formulations.

However, the polyurethane segment is projected to witness the highest growth rate during the forecast period from 2024 to 2031. This growth is driven by the high durability, abrasion resistance, chemical resistance, and flexibility of polyurethane resins. Additionally, the increasing use of polyurethane resins in automotive OEM coatings, industrial coatings, flooring systems, wood coatings, and construction applications such as waterproofing, sealants, and protective coatings is contributing to this growth.

By technology, the market is segmented into water-based coatings, solvent-based coatings, powder coatings, UV-curable coatings, electrolytic coatings (e-coat), and other technologies. In 2024, the water-based coatings segment is expected to account for the largest share of over 40.0%. The rapid growth in residential and commercial construction, the lower VOC content of water-based coatings compared to solvent-based ones, the increasing adoption of water-based coatings across various applications, and stringent environmental regulations aimed at reducing VOCs are key factors driving this segment's large market share.

Conversely, the powder coatings segment is projected to witness the highest growth rate during the forecast period. The segment's growth is fueled by powder coatings' high durability, chemical resistance, high transfer efficiency during application, resulting in minimal waste, better weatherability compared to liquid coatings, and increasing use in automotive metal parts and components, appliances, furniture, and architectural applications.

By application, the market is segmented into commercial, residential, industrial, infrastructure, marine, and other applications. In 2024, the industrial segment is expected to hold the largest share of over 40.0%. This is attributed to increasing investments and initiatives in the industrial sector, the growing use of protective paints and coatings to safeguard industrial equipment, machinery, and infrastructure from corrosion, abrasion, and chemical exposure, and the increasing adoption in automotive manufacturing and industrial floor coatings in manufacturing plants, warehouses, and commercial facilities.

However, the infrastructure segment is projected to witness the highest growth rate during the forecast period. This growth is driven by the increasing number of infrastructure projects, expansion of transportation networks, including bridges, tunnels, railways, and utility pipelines, growth in road networks and transportation systems, and rising demand for waterborne and low-VOC paints and coatings for infrastructure applications.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 50.0%, followed by Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific's significant market share is attributed to the growing automotive sector in countries such as China, India, Japan, and South Korea, rapid urbanization, increased construction activities and infrastructure investments, stringent environmental regulations, rising consumer preference for eco-friendly products, including water-based coatings, powder coatings, and low-VOC formulations, and growth in manufacturing industries, including electronics, automotive components, machinery, and consumer goods. Asia-Pacific is also projected to register the highest growth rate of over 6.0% during the forecast period.

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Key Questions Answered in the Report:
• Which are the high-growth market segments based on resin, technology, application, and geography?
• What was the historical market size for paints & coatings globally?
• What are the market forecasts and estimates for the period 2024–2031?
• What are the major drivers, restraints, opportunities, and challenges in the paints & coatings market?
• Who are the major players, and what shares do they hold in the paints & coatings market?
• What is the competitive landscape like in the paints & coatings market?
• What are the recent developments in the paints & coatings market?
• What are the growth strategies adopted by major players in the paints & coatings market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global paints & coatings market, and how do they compete with the other players?

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