Paints and Coatings Market - Forecast(2020 - 2025)
According to the International Trade Center (ITC), the trade of iron and steel across the globe was valued to be $428.6 billion worth in 2018. This is attributable to the prevalent application of iron and steel in a broad spectrum of industries. However, iron and steel that are used in industries undergo the process of painting and coating, which protects the metal and alloy from corrosion, thereby reducing the maintenance and replacement costs. Evidently, the increasing trade of iron and steel worldwide is significantly supporting the paints and coatings market that had a market size of $127,855 million as of 2018. Furthermore, the demand for paints and coatings in various industries is projected to escalate with a healthy compound annual growth rate (CAGR) of 4.69% during the forecast period of 2019 to 2025. Request Sample APAC has been observing a tectonic shift in the economy owing to the growth in the industrial sector and construction, which is leading to growth prospects in