KEY FINDINGS
The Asia-Pacific smart coatings market is anticipated to progress with a CAGR of 23.49% over the estimated years of 2021 to 2028. The market growth of the region is essentially ascribed to the entrance of foreign companies, the presence of numerous emerging economies, such as India, China, Vietnam, and Indonesia, as well as the surging demand for commercial construction, like warehouses, buildings, production houses, and offices, among others.
MARKET INSIGHTS
The Asia-Pacific smart coatings market growth assessment entails the analysis of Japan, China, Australia & New Zealand, South Korea, China, Vietnam, Thailand, Indonesia, and the rest of the Asia-Pacific. South Korea is the fourth-largest coatings market in terms of volume and value across the Asia-Pacific. As a mature and slow-growing market for coatings, the South Korean coatings industry’s largest segment is the decorative sector, accounting for less than 25% of the overall volume. However, this is a relatively smaller percentage than the majority of other nations in the region.
On the other hand, Thailand’s market for decorative paints is fueled by retail spending, changing consumer preferences, repainting, and construction activities. However, the market observed several major setbacks, which in turn, adversely impacted the country’s overall economy. In addition, permission for land development as well as new housing constructions considerably declined in Thailand over recent years. Nevertheless, its influence on retail sales within the decorative paint and coatings market was partly counterbalanced by a rise in urbanization and increased demand for premium products. Thus, these factors are set to propel the Asia-Pacific smart coatings market growth during the forecast period.
COMPETITIVE INSIGHTS
Key companies operating in the market are Nippon Steel Corporation, Asian Paints, Guangdong Carpoly Chemical Group, and others.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments