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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Ecuador Paints Market Share
Resin is expected to hold a significant market share as it enhances paint’s resistance to weather conditions.
Resins act as a binder that holds the pigment particles together and provides adhesion to the painted surface. Additionally, acrylic resins are commonly used as binders in waterborne or low-VOC paints. According to its NDC targets, by 2025, Ecuador aims to reduce GHG emissions by 12% from the current levels. As a result, demand for sustainable construction materials, including low-VOC waterborne paints is projected to increase during the forecast period.
Pigments widely used by the paints industry include masterbatch, chrome yellow pigment, molybdate orange pigment, and pigments based on chromium compounds. Ecuador imports chromium-based pigments from countries, such as Colombia, Mexico, and China.
Ecuador Paints Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market value was approximately USD 301.36 million.
The global market is projected to grow at a CAGR of 4.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach nearly USD 446.81 million by 2032.
The major drivers include the growth in the construction sector and the growing demand for low VOC paints.
The key trends include expanding automotive and electric vehicle sales and growth of the manufacturing sector.
The different technologies of paints considered in the market report include powder based, water borne, and solvent born, among others.
The major end uses of paints include architectural/decorative and industrial.
The major players in the market include Sherwin-Williams Co., Pinturas Superior, Pintuco S.A., Adheplast S.A., Indualca S.A., Mega Pinturas Cia. Ltda, Pinturas Líder Cía. Ltda., Pinturas Unidas S.A., Sailorpaint S.A, and Pinturas Wesco S.A.
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