Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The North America region is experiencing growth in decorative coating markets since the decades owing to rising technological advancements as well as growing new projects for interior& exterior in the constructions sectors. The increasing need of the decorative coating product to enhance the durability and appearance of the surface and protect against the harsh weather and external conditions such as U.V. radiations, extreme temperature, acid rain, foreign particles growth and additionally superior properties including the moisture, corrosion resistance, U.V. radiations, bacteria and heat resistance are propelling the market growth.
The growth of the decorative coating market is boosted in the North America region as they have the developed economies. The major growth factors for the decorative coating market are the positive outlook towards constructions, rising infrastructural development, growing demand for decorative coating are propelling the market growth. However, the fluctuations in the raw materials prices and foam formation of the products are hampering the market growth.
The exclusive COVID-19 impact analysis report by axiom MRC provides a 3600 analysis of micro and macro-economic factors on the North America decorative coating market. In addition, complete analysis of changes on North America decorative coating expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on North American economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The market is gets hampered by the covid-19 as there is lockdown in majority of regions and due to that the majority of market’s are get hampered.
The North American market of the coating market is segmented by resin type, technology, coating type, product type, application and country.
The resin type like acrylic, alkyd, vinyl, polyurethane and others are identified during the study in the decorative coating market in the North America region. The acrylic is the most widely used in the segment. As they are significant alternatives for oils paints. And having less odour to traditional oil coatings. In addition to that they are versatile and can be used at any surface which are free from oil and waxes. Furthermore, Vinyl resins are expected to hold second position in market attributing to excellent adhesive properties on the metals, as the paint has good adherence on the surface of the tin, aluminium foil, paper, acrylic acids and concreate thereby are expected to have emerging demand in North America market.
The various technologies like water bone, solvent borne, powder coating is comprised in the study of the North America region of the decorative coatings. The water borne technology is using widely as in the segment of the technology in the North America regions as they have the architectural applications in the decorative coating market as to paint the doors, trims, window frames, interior and exterior walls and wood varnishes. And due to that it is the secondarily growing in the industry. The water borne technology have advantages like having high resistance to heat and abrasion, provide the magnificent adhesion in addition to that low toxicity and flammability as they comprised of low level of VOC and HAP.
The study analyses the coating type like the interior, exterior and other like rooftop, floor, wood. The segment is headed by the coating type is headed by the exterior paints because the exterior surfaces have the more contact to dirt, pollutant and the bacterial flora due to that the exterior coating are applied for the protection of the parameters and it also gives the protection from extreme heat and UV rays due to that it is growing rapidly in the segment.
The product type like emulsions, wood coatings, enamels and others. The wood coating is also sub-segmented as the varnishes and stains are comprised in the study. The leader of the segment is the emulsion and the second fastest growing segment is wood coatings as they provide the glossy and decorative looks to the surface. The wood coatings provide protection to wood against the natural and human factors. And also helps in sealing pores of wood than can be breeding ground for bacteria. And due to that they are propelling the market growth.
The study composed of the application like residential and non-residential constructions. The residential constructions are sub-segmented as the new constructions and the remodel and repair. The Non-residential constructions are also increasing as the introduction of new non-residential are increasing due to the commercialization. The decorative coatings provide a protective finish that are applied at the ambient temperatures. Additionally, it provides the aesthetic looks to the Non-residential constructions and thereby it is propelling the growth of market.
Country wise, the study is comprised of the key countries such as the US, Canada, and Mexico. The United States held the largest market share of North America decorative coating market and is likely to dominate the market over the estimated time frame. Well-established commercial industry across the region, increasing number of research and development centres and companies that develop and manufacture advanced technologies and massive presence of major market players across the region are some of the major factors propelling the market growth in the NA region.
The major key players like The Sherwin-Williams Company, Akzo Nobel N.V., Asian Paints Limited, BASF SE, Benjamin Moore & Co., Berger Paints India Limited, Brillux GmbH & Co. Kg, Carpoly Chemical Group Co., LTD., Cloverdale Paint Inc., Cromology (Formerly Materis Paints),Daw Se, Diamond-Vogel Paint Company, Duluxgroup LTD., Fujikura Kasei Co., LTD., Guangdong Maydos Building Materials Co. LTD., Hempel A/S,H-I-S Coatings and Paint Manufacturing Co., Jotun Group, Kansai Paint Co., LTD., Kelly-Moore Paints, Lanco Paints, Masco Corporation, Nippon Paint Holdings Co., LTD., Pintuco, PPG Industries, Inc., RPM International Inc., STO Corp., Tikkurila Oyj among the others.
The study analyses the North America market of the decorative coating market segments by resin type, technology, coating type, product type, application and the country. The global leader of resin type is acrylic resins. The segment of the technology is headed by the powder coating and the product type, application and country are leaded by the emulsion, residential and United States respectively. The study also analysed the global impact of the covid-19 impact on the global market of the decorative coatings. The market is gets hampered by the covid-19 as there is lockdown in majority of regions and due to that the majority of market’s are get hampered. The study also analyses the major key players in the region.
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