Research Nester’s recent market research analysis on “Intermediates for the Paint & Coatings Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitors analysis and a detailed overview of the global intermediates for the paint & coatings market in terms of market segmentation by type, application, and by region.
Growing Industrialization to Promote Global Market Share of Intermediates for the Paint & Coatings
The global intermediates for the paint & coatings market is estimated to grow majorly on account of the increasing construction activities around the world. For instance, paints and coatings, are commonly used in building operations, which is projected to contribute to market expansion.
The global intermediates for the paint & coatings market is estimated to grow majorly on account of the surge in automotive industry. As a result, there is an increasing production of vehicles around the globe which will lead to growing demand paint & coatings in the automotive sector. For instance, intermediates are needed in the formulation of these paints & coatings.
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Some of the major growth factors and challenges that are associated with the growth of the global intermediates for the paint & coatings market are:
Growth Drivers:
- Increasing Need for Paints & Coatings
- Rising Construction Activities
Challenges:
The high cost of intermediates and the lack of raw materials are some of the major factors anticipated to hamper the global market size of intermediates for paint & coatings. For instance, the price of raw materials is volatile since the materials are not readily available. As a result, the overall cost of the intermediates may rise.
By type, the global intermediates for the paint & coatings market is segmented into organic intermediates, and inorganic intermediates. The organic intermediates segment is to garner notable revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment can be attributed to the growing need for environmentally friendly coatings. Demand for organic intermediates is expected to rise as a result of rigorous environmental laws aimed at reducing the environmental impact of coatings. For instance, organic intermediates, are considered to be more sustainable than inorganic intermediates since they emit fewer volatile organic compounds.
By region, the market in Europe is poised to hold a majority of the share by the end of 2035. The growth of the market can be driven by growing industrial production in the region. Rising industrial production leads to higher demand for paint and coatings in the manufacturing sector for a variety of applications such as automotive parts, and electronic appliances. For instance, coatings are used to protect electrical products against harsh conditions including heat, chemicals, and/or moisture, and are utilized to enhance the optoelectronic characteristics of macroscale devices, ICs, and PCBs. As a result, demand for intermediates used in the manufacture of paints and coatings has surged throughout the European region. In 2023, industrial production in the European Union is expected to expand by more than 2%, also when compared to other EU members, Bulgaria experienced the biggest year-on-year increase in industrial production in 2022.
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This report also provides the existing competitive scenario of some of the key players of the global intermediates for the paint & coatings market which includes company profiling of Eastman Chemical Company, The Dow Chemical Company, KH Neochem Co., Ltd., Saudi Basic Industries Corporation, OQ Chemicals GmbH, Solventis Ltd., Galaxy Surfactants Limited, KH Chemicals BV, and others
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