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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Peru Paints and Coatings Market Share
By resin type, acrylic holds a significant Peru paints and coatings market share due to their desirable properties
According to the Peru paints and coatings market report, acrylic resins are widely deployed in coating materials in the automotive, architectural, and plastic sectors due to their exceptional weather resistance and durability. Acrylic resins are the commonly used binders in paint and coatings. Decorative paints use both pure and modified acrylics, including styrene-acrylics and vinyl-acrylics.
When used on visible wooden surfaces in furniture manufacturing, polyurethane coatings deliver a lustrous appearance that effectively repels water, fights against corrosion, and shields against scratches, stains, and harmful UV rays.
Alkyd resins are a key ingredient in many synthetic paints, varnishes, as well as enamels and coatings, and finishes in the protective coating market. They are water-resistant and can adhere to materials like wood or metal.
Architectural/ decorative application of paints and coatings holds a significant share of the market due to rising renovation/ maintenance activities
According to the Peru paints and coatings market analysis, the demand for architectural/ decorative paints and coatings is intrinsically linked to the ongoing renovation and maintenance efforts in essential public spaces. Community centres, schools, towers, and clinics spread across the country require regular upkeep to ensure their functionality, aesthetics, and longevity. As these facilities serve as vital hubs for various activities, the application of paints and coatings becomes crucial to protect surfaces, enhance visual appeal, and contribute to a conducive environment for users.
The industrial segments boost the demand for protective coatings to protect automobiles, machinery, and other components from corrosive agents, abrasions, and UV radiation. This surge in automotive production consequently amplifies the requirement for reliable coatings that provide long-lasting protection. Prominent automotive players in the Peru paints and coatings market include General Motors, Toyota, Hyundai, Volkswagen, and Kia. These companies are engaged in the production, import, and distribution of automobiles as well as providing services such as repair and maintenance.
Moreover, the timber industry has embraced the usage of low-VOC water-borne coatings, particularly in the realm of furniture manufacturing. This transition aligns with the industry’s commitment to environmentally friendly practices.
Peru Paints and Coatings Market Report Snapshots
Peru Paints and Coatings Market Size
Peru Paints and Coatings Market Trends
Peru Paints and Coatings Market Share
Peru Paints and Coatings Companies
Peru Paints and Coatings Market Analysis
*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 Peru paints and coatings market reached an approximate value of USD 399.50 million.
The market is expected to grow at a CAGR of 3.5% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 541.89 million by 2032.
Paints are a mixture or dispersion of opaque pigments or powders in a liquid. Coatings are paint-like materials used in varnishes and inorganic binders.
The common construction coatings used in construction include acrylic, epoxy resin, and polyurethane coatings.
The major drivers of the market include the rising residential construction, modernising of the infrastructural sector, and demand for low-VOC paints.
Key trends aiding market expansion include government initiatives to enhance the sustainability of the paints and coatings sector, growing demand for automobiles, and demand for decorative paints and coatings.
The major resin types are acrylic, alkyd, epoxy, polyester, polyurethane, and others.
The major applications of paints and coatings include architectural/ decorative and industrial.
The major players in the market are Akzo Nobel N.V., PPG Industries, Inc., Qroma S.A., The Sherwin-Williams Company, Benjamin Moore & Co., WEG S.A., Lanco Manufacturing Corp., and Pinturas Color Chile, among others.
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