The water-based painting and coating technology is an emerging trend because of the advantages inherent in it. Low vent emissions have displaced the use of traditional painting that emits more VOC. Transparency Market Research L. P. has recently published a global study of this eco-friendly approach. The interest of the industry will be shaped very differently.
The study anticipates a strong paints and coatings market growth on the global scale, having CAGR as high as 5.2%. The CAGR rate is projected to be somewhere around 2022 and 2031. This prediction made by Transparency Market Research will become more than three times in terms of revenue, the figure is forecast to reach US$ 369.85 billion by the end of this mature period.
This upward trend is sparked via convergence factors of which the most vital ones are the high demand of the users for tailored solutions, particularly in the building and the automotive sectors. Such diversity in palettes leads to a notion that an organization ought to increase the width of their palette in terms of colours, textures and applications tools in order to meet the needs of customers. Furthermore, the combination of digital tools such as the Web 2.0 coating, sensors and the predictive analytics is the main driving force for this paradigm change.
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