Paints and coatings are substances that are applied to a surface to decorate and protect it. Paints and coatings are widely used in decorative applications. When used for decoration, they improve the surface's durability and aesthetic appeal. They protect the surface from environmental factors such as weathering, rust, and chemical resistance. The paints and coatings market is being driven by rising demand from a variety of end-use industries, including automotive, construction, marine, aerospace, protective, transportation, wood coatings, and packaging. The expansion of the paints and coatings market can be attributed to an increase in key players' investments in developing efficient and cost-effective products, expansion, and mergers and acquisitions.
One of the major factors contributing to the expansion of the paints and coatings market size during the forecast period of 2021 to 2028 is an increase in demand for high-performance coatings. With strict laws and restrictions to follow, industries must maintain government decorum. Furthermore, the industry may be able to see the light and recover from losses caused by a surge in certain segments of the Paints And Coatings Market size and industries, such as antimicrobial coatings used in the food and healthcare industries. Furthermore, rising investments from global governments and prominent players operating in various global locations are assisting in the development of the market's product and service portfolio.