The global construction paints and coatings market to grow at a CAGR of 6.31% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global construction paints and coatings market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of paints and coatings for end users such as residential, non-residential, and infrastructure.
Construction paints and coatings refer to any liquid surface covering applied on the interior or exterior of a structure for decorative or protective purposes. They help prevent cracks and rusting, check the proliferation of fungi and algae, and enhance the looks and lifespan of the structure.
One trend that will gain traction in the global construction paints and coatings market is growing demand for premium paints among DIY consumers. An increase in consumer spending on home improvement and remodeling projects is the key factor providing growth impetus for the consumption of paints and coatings in the residential segment. The demand for premium paints among DIY consumers is particularly high in Western economies, with organized big box retailers catering to this demand.