Paint Market is projected to reach USD 235.06 Billion by 2029 : Cognitive Market Research
As per Cognitive Market Research analysis, the paint market size is projected to grow from USD 160.03 Bn in the year 2021 to USD 235.06 Bn by 2029 at a CAGR of 5% from 2021-2029.
Paint is essentially a coating or covering material applied on metallic or non-metallic surfaces for decorative or protective purposes. Paint has some good qualities such as good hiding power, color, resistance, easy application, and economical in cost. Paints are prepared by intimately mixing various components in proper proportions. Paint typically consists of pigment, resin, solvent and additives. The market for Paint is expanding primarily due to the growing vehicle production. That is over seven times the total number of passenger automobiles manufactured in the United Kingdom and the United States. This boosts the demand for paints. Nevertheless, challenges related to paints may impede market expansion. The market will develop as a result of the expanding use of paints in…
