Description

The global paint industry has witnessed significant growth over the last decade. The global paint and coating market is prominently influenced by many market-driven factors. Some of the market-driven factors, which are slated to fuel the global market growth include significant increase in construction activities, rising disposable income, and rapid urbanization in the developing regions. Growth in this market is highly attributed to strengthening production of supplementary industries, such as automotive, marine, aerospace and general industrial. Apart from these growth influencing factors, the market growth is restrained by the high prices associated with the paint and coating raw material. Moreover, as the raw material is basic chemicals and are commodity dependent, its prices are expected to keep on increasing with increase in commodity prices year by year and limit the global demand.