The worldwide paint ingredient market is expected to reach US$2,230 million by 2032, growing at a 3.2% CAGR. In 2022, the market is expected to be worth US$1,630 million. As per historic estimations, the global market is predicted to display a growth rate of 2.5% from 2016 to 2021.
The growth in the market is attributed to their odorless characteristics and their potential to have less impact on the environment, eco-friendly paints have become increasingly popular. Consumers are increasingly shifting towards environmentally friendly products as they are gaining traction which is considered to be an instrumental factor in the growth of this market.
Paint manufacturing is one such industry that relies on automatic control technologies. When it comes to the paint industry, the composition of the paint holds the utmost importance. A wide range of methods is being employed in order to overcome this particular problem. Earlier, painting composition was done manually but sometimes didn’t meet the required color. In order to solve the manual paint composition problem, automatic paint preparation techniques are employed.
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Paint mixers are expected to account for a reasonable market share in the near future since FMCG companies in India China, and Singapore continue to expand their operations in these countries. The market is also anticipated to be benefitted from surging industrialization, increasing government infrastructure spending, and increased foreign direct investment.
Owing a wide array of smart dispensing solutions is making it hard to select the perfect paint mixing machine. While making a decision to invest in automatic ingredients, it is imperative to consider a few crucial parameters, incorporating the growth plan, customer requirements, enterprise outcomes, and the total cost of ownership. Paint ingredients are utilized for the efficient mixing of different colors of paint in an accurate proportion, based on various formulas.
A professional painter, a DIYer, or any other end user uses the product after mixing it for painting. With people around the world changing the aesthetics of their homes, offices, and other establishments at a rapid pace, the world of interior design and décor is growing at an incredible rate. With the emergence of modern paint ingredients, users can easily customize the exact color of their space with paint. Paint is considered a brilliant way to transform a space’s visual appeal.
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Key Takeaways
- Paint mixers are considered to be one of the most profitable businesses at present. Several aspects of the economy require a massive amount of paint. In addition to that, the surging technological advancements have led to the innovation of products such as automatic paint mixers, and other products are expected to boost future growth.
- Over recent years, the popularity of eco-friendly paints has gained immense traction because of their odorless qualities and lower negative environmental impact. The market is rapidly growing as consumers become more conscious about their surroundings. With increasing technological advancements, automatic paint mixers have been developed to reduce labor and worker intervention in paint mixing. In the newly developed and advanced automatic mixer, powders and pigments are blended with polyurethane, epoxy, polyester, and acrylic resins without the presence of any air.
- Owing to the surge in DIY projects along with rising experimentation with paints have often been driven by rising social media trends. This has resulted in supporting the growth of the market for paint ingredients. Several users are experimenting with unique color combinations, textures, and even scents that can be incorporated into their paint with effective paint Ingredients.
- Moreover, the market is expected to benefit from the rising consumption of automotive, construction, and general industrial products. Countries with rising urbanization and industrialization such as India, China, and Southeast Asia, are expected to see a rapid rise in the demand for products in various applications.
Competitive Landscape
Key market players are focusing on rising technological advancements and adopting various strategies like acquisitions and mergers, research and developments to gain an edge over the market.
More Insights into the Paint Ingredient Market
According to the FMI estimations, North America is anticipated to dominate the global paint ingredient market as the region is expected to account for a total of 22% of the global market share in 2022. Due to the presence of several prominent market players in the region, the market is expected to prosper in the region.
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Key Segments Profiled in the Global Paint Ingredient Market
Paint Ingredient Market by Product Type:
- Automatic Paint Ingredient Mixer
- Manual Paint Ingredient Mixer
- Semi-Automatic Paint Ingredient Mixer
Paint Ingredient Market by Application:
- Paint Ingredient for House Decoration
- Paint Ingredient for Paint Manufacturer
- Paint Ingredient for Paint Users
- Paint Ingredient for Other Applications
Paint Ingredient Market by Material:
- Wood-based Paint Ingredients
- Metal-based Paint Ingredients
- Steel-based Paint Ingredients
- Plastic-based Paint Ingredients
- Other Materials-based -based Paint Ingredients
Paint Ingredient Market by Sales Channel:
- Paint Ingredient Sales via Hypermarkets/Supermarkets
- Paint Ingredient Sales via Departmental Stores
- Paint Ingredient Sales via Convenience Stores
- Paint Ingredient Sales via Specialty Stores
- Direct Paint Ingredient Sales
- Paint Ingredient Sales via Online Retailing
- Paint Ingredient Sales via Other Sales Channels
Paint Ingredient Market by Region:
- North America Paint Ingredient Market
- Latin America Paint Ingredient Market
- Europe Paint Ingredient Market
- Asia Pacific Paint Ingredient Market
- Middle East & Africa Paint Ingredient Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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