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LocationHome » News » Industry News » YINYAN Reprint: the Global Coating Market will Exceed $190 Billion by 2023 (2)

YINYAN Reprint: the Global Coating Market will Exceed $190 Billion by 2023 (2)

Large Middle Small Source:Yinyan View:- Date:2018-10-22 20:56:33

Wuxi YINYAN, as the manufacturer of coating dispersion mixer and coating complete production line, is optimistic about the global coating market. The following is reprinted from hc360.com. (Follow the previous.)
According to region, paint and coatings market can be divided into Latin America, Middle East and Africa (MEA), North America, Asian-Pacific region (APAC), and Europe. The Asia-pacific market is expected to maintain high growth between 2017 and 2023. The composite annual growth rate of the paint and coatings market in the Asia-pacific region is expected to be 5.41% from 2017 to 2023. Europe and North America are two other important markets that are expected to show highly positive growth trends in the coming years.
According to application, paint and coatings market can be divided into industrial engineering sector and construction sector. Of that, the construction sector is now a relatively large market share in 2017, at 55.1%, worth more than $78 billion, and is expected to maintain high growth in the forecast period. The increasing use of paint and coatings in residential construction is a feature of the plate's growth.
Industrial applications accounted for 44.9% of the global paint and coatings market share in 2017, valued at $63.451 billion. The sector is expected to grow at a compound annual rate of 4.76 % in the forecast period, reaching $83.663 billion by the end of 2023. In this sector, automotive and general industrial areas of paint demand is growing. 

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