Intermediates for the Paints & Coatings Market Size

Intermediates for the Paint & Coatings Market size was valued at USD 270.91 Billion in 2023 and is poised to cross USD 810.97 Billion by the end of 2036, registering more than 8.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of intermediates for paints & coatings is estimated at USD 292.37 Billion. The growth of the market can be impelled by an increasing construction sector across the world. Paints & coating are frequently required in construction activities which is expected to add to the market growth. According to estimates, the worldwide construction business is quickly expanding, with the market value estimated to reach over USD 10 trillion by 2023.
The increasing automotive sector is believed to fuel market growth. For the production and repainting of vehicles, various kinds of paints & coatings are used which in turn is estimated to drive market growth. For instance, ethyl acetate is a substance used in coatings and paints for automobiles, which is utilized as a solvent for coating systems such as acrylic and nitrocellulose lacquers owing to its solubility in the primary natural and synthetic resins.