Global Construction Paints and Coatings Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 07:30:04
The global construction paints and coatings market is expected to witness robust growth during the forecast period. All major vendors are trying to expand their markets to developing nations as such countries are the hubs of economic developments. Many major players in the market are looking for mergers and acquisitions. They are also creating alliances with regional, small and large organizations as a way to capture more market share. This also enhances their distribution channels and improves their market reach. Thus, major vendors are striving to gain competitive advantage through mergers and acquisitions and increase their market consolidation.
One of the key drivers in this market is the increase in civil construction activities across the world and the rise in demand for paints that can protect buildings from weather extremes, corrosion and dampness.
Further, a major challenge in the market is the lack of product differentiation among vendors which has resulted in increased competition and price wars in the market.
The key players operating in the global construction paints and coatings market include Akzo Nobel NV, E. I. du Pont de Nemours and Co., PPG Industries Inc., The Sherwin-Williams Co., and The Valspar Corp.
The global construction paints and coatings market is forecast to grow at a CAGR of 7.16 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increase in civil construction activities across the globe. The Global Construction Paints and Coatings market has also been witnessing the increased competition among major vendors. However, the lack of effective product differentiation could pose a challenge to the growth of this market.
Other vendors operating in the market are BASF SE, Kansai Paint Co. Ltd., Nippon Paint Co. Ltd., Jotun A/S, Asian Paints Ltd., and 3M Co.
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