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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Peru Paints and Coatings Market Trends
Rising environmental pollution concerns are compelling governments to boost the production of eco-friendly construction materials. Environment-friendly products such as water-based or low-VOC paints and coatings are formulated with reduced levels of co-solvents and glycols, thereby impacting the Peru paints and coatings market growth. Advanced products also include powder or radiation-cured paints and the use of new coalescing agents, plasticisers, and alternative solvents. The adoption of environment-friendly paints is being supported by government regulation ruling out the use of lead in paints, which is known to cause health issues.
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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