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Latex Paints in North America Market 2019 Key Players, Share, Trends, Sales, Segmentation & Forecast to 2025

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simone singh
Latex Paints in North America Market 2019 Key Players, Share, Trends, Sales, Segmentation & Forecast to 2025

North America is expected to witness exponential growth in the latex paints industry due to various concerns arising on the environmental hazards caused by solvent-borne coatings. Environmental agencies and government institutions are issuing regulations and guidelines to minimize the use of automotive refinish coatings with high VOCs content and is expected to boost the growth of waterborne coatings technology.

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The basic secondary raw materials of a latex paint include the solvent, resin, pigment, extenders, and additives. The solvent carries the solid components of the paint and evaporates upon application to form a solid dry film at the surface.

Solvents basically determine whether the paint is latex or oil-based, with latex having a mostly water solvent and oil-based having a mineral spirits solvent. The resin, also known as the binder, is the main component of the solid dry film left after the solvent evaporates. The resin must stick to the surface, bind to the pigment, and have the physical properties necessary for the intended surface such as gloss, abrasion resistance, hardness, and flexibility. Pigments determine the paint’s color and opacity and can be organic or inorganic.

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Instability in the prices of the raw materials such as titanium oxides (key raw material), pigments, resins, and additives is expected to restrain the market growth. In addition, hazardous risk posed by solvent-borne coatings, coupled with the failure of industry leaders to meet OEMs’ expectations in terms of environmental durability and sustainability of the coatings are other challenges to the market growth. However, increasing R&D investments along with ongoing product development to improve the performance of coating products is expected to open massive opportunities for market growth in the coming years.

Latex paint is an opportunistic market as product innovation is the basic requirement for continued usage of the product. Water based paints have significantly evolved over the years and are currently being used as an alternative to solvent-borne technology. Also, with the advancement in the end-user industries, product launch and innovation in the coatings sector are gaining pace. Consolidation of coating manufacturers has accelerated since the past decade. Usage of nano- dispersed pigments, special additives for appearance, and advancements in polymer technology are some of the key trends in the market, which are expected to produce upcoming opportunities in the future

Latex Paints to Attract Focus from Construction and Automotive Segment in 2019

  • Architectural, automotive OEM and automotive finishing coatings are important sectors within the Canadian painting and coating sector. These three segments represent almost 70% of the market value.
  • Stringent environmental regulations in North America are expected to drive demand for waterborne coatings that is expected to enhance market growth over the forecast period
  • Transportation segment accounted for the second largest share of more than 22% in the year 2018 following the construction segment
  • Latex paints in OEM play an important role in determining the outer appearance of automobiles
  • These paints act as cationic products and among various covering layers of paint on metal components, majorly offer corrosion protection, and also protect the vehicles from minor scratches and stone chipping

Various latex paint manufacturers include BASF, Axalta Coating Systems, PPG Industries, Kansai Paint, KCC Corporation, Sherwin-Williams Company, Valspar Corporation, Berger Paints, Cabot Corporation, Nippon Paint, Clariant, NOROO Paints and Coatings, KAPCI Coatings, Alsa Refinish, Color Communication, Diamond Vogel, and Lubrizol Corporation. Integration has been observed by various companies including AkzoNobel, Bayer AG, and Nippon Paint. Bayer AG provides environmental friendly systems that can reduce emissions up to 90%, thereby reducing volatile air emissions by 99%. End users such as construction industries, automotive and automotive aftermarket shops and manufacturing industries utilize latex paints.

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Major points from Table of Contents:

Chapter 1.  Executive Summary

Chapter 2.  Research Methodology

Chapter 3.  Market Outlook

Chapter 4.  North America Latex Paints Market Overview, By Type

Chapter 5.  North America Latex Paints Market Overview, By Application

Chapter 6.  North America Latex Paints Market Overview, By Country

Chapter 7.  Company Profiles

Key segments of the North America latex paints market

Type Overview, 2015-2025 (USD Million)

  • Interior
  • Exterior

Application Overview, 2015-2025 (USD Million)

  • Construction
  • Transportation
  • Industrial
  • Others

Country Overview, 2015-2025 (USD Million)

  • North America
  • S.
  • Canada
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