Why Is APAC Largest Consumer of Paints and Coatings in the World?
People not only care for their own appearance but also that of the things they own, such as houses and automobiles. Thus, with the booming population pushing up the requirement for houses, vehicles, and a host of other practical and materialistic things, the paints and coatings market has a bright future ahead. As per P&S Intelligence, the sale of such materials valued $156,086.2 million in 2019, and this revenue is set to witness a 4.2% CAGR during 2020–2030, to reach $227,834.0 million by 2030 . This is because paints and coatings are what give the products their aesthetic value, which, however, is not their only purpose. They are also applied in high volumes to the interiors and exteriors to protect them from heat, moisture, chemicals, scratches, and abrasions. Hence, apart from architectural purposes, paints and coatings are also used for several special and industrial applications. Among these, they are consumed in the highest volumes for architectural applications, majorly be