Summary
Global Specialty Coatings Market- Segmented by Type , Application , and Geography-Trends and Forecasts ( 2017-2022 ).
Description
The Specialty coating market is valued at USD 30.39 billion in 2015 and is expected to grow at a CAGR of over 5.5 % during the forecast period . Asia Pacific has the highest market share in the specialty coatings market , in terms of volume , followed by the North America and Europe . It accounts for about XX % of the global share . China dominates the Asia-pacific market , due to the presence of large number of end-user industries in the region . Asia pacific is expected to be the fastest growing market during the forecast period . North America and Europe are expected to witness comparatively slower growth rates during the forecast period .
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Architectural and construction industry account for the highest market , by end-user industry wise . It is also expected to be the fastest growing sector on account of the increasing demand for the better performance of the constructions . Moreover there is a growing demand for the automotive , construction and electronics industries in the developing countries , which is further driving the specialty coatings market . The increasing trend to use sustainable products is increasing the need for environment friendly coatings and water-based coatings and so this is providing a great opportunity to the market .
The major players in the market include Ashland , Evonik , PPG Industries , Specialty Coatings System , U . S . Specialty Coatings System , AkzoNobel and Dow Chemcials . The main players in the market are trying to increase their market share through regular mergers and acquisitions . For example , PPG industries have reached a definitive agreement to acquire Avon , Mass . -based Cuming Microwave Corp . and its wholly-owned subsidiary Cuming-Lehman Chambers Inc ., a global supplier of specialty coatings .
Place a Purchase Order for this Report at : http :// www . orbisresearch . com / contact / purchase / 218360 . Drivers
The growing middle class demands in Asia Pacific is increasing the consumer spending , which in turn are driving the market for specialty coatings . Moreover increasing demand from their end-user industries is also driving their market . Furthermore , the increasing demand for the better performing coatings is also driving this market .
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