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Peru Paints and Coatings Market Size, Share, Forecast: By Resin Type: Acrylic, Alkyd, Epoxy, Polyester, Polyurethane, Others; By Technology: Powder-Based, Water-Borne, Solvent-Borne, Others; By Application: Architectural/Decorative, Industrial; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2023-2028
Peru Paints and Coatings Market Outlook
The Peru paints and coatings market attained a value of USD 394.0 million in 2022. The market is estimated to grow at a CAGR of 3.3% during 2023-2028 to reach a value of USD 469.5 million by 2028.
Key Trends in the Market
Paint is a mixture of powders or opaque pigments that is aimed at improving the aesthetics of surfaces. Coatings are layers that are added to surfaces to protect them from external damage and enhance their durability. Paints and coatings play essential roles in diverse end-use sectors, including construction and automotive, among others.
- Some of the key Peru paints and coatings market trends include healthy economic growth, increasing foreign investments, and growing infrastructural activities in the country. Moreover, the robust growth of the construction sector and favourable government initiatives aimed at promoting infrastructural development are driving the demand for paints and coatings.
- The Peru paints and coatings market growth can be attributed to innovations and technological advancements. Key players are developing self-cleaning, antimicrobial, and smart paints and coatings that can enhance the safety and performance of products.
- The surging environmental awareness and the growing concerns regarding the health hazards of chemical-based paints and coatings are driving the shift towards sustainable solutions made using bio-based and renewable materials. Besides, the Peru paints and coatings market demand is likely to be fuelled by the rising usage of solar reflective coatings that can reflect the heat away and provide cooling effects to buildings while enhancing their energy-efficiency.
Market Analysis
Based on resin type, the market is segmented into acrylic, alkyd, epoxy, polyester, and polyurethane, among others. On the basis of technology, the market can be divided into powder-based, water-borne, and solvent-borne, among others. The major applications of paints and coatings are architectural/decorative and industrial.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Peru paints and coatings market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Lanco Manufacturing Corp.
- Pinturas Color Chile
- Sherwin-Williams Company
- PPG Industries, Inc.
- WEG S.A.
- Akzo Nobel N.V.
- Benjamin Moore & Co
- Qroma S.A
- Others
Market Share by Technology
Powder-based solutions represent a significant portion of the Peru paints and coatings market share. Powder-based coatings and paints have a durable finish and boast resistance to wearing, fading, scratching, and chipping. As they do not require VOC-containing solvents to ensure optimal coating suspension, such solutions emit fewer greenhouse gases than their solvent-based counterparts.
Benefits such as low maintenance, rapid drying, shorter curing times, quick application, and corrosion resistance make powder-based paints and coatings a popular option for products and surfaces exposed to extreme environmental conditions.
Market Share by Application
As per the Peru paints and coatings market analysis, the use of these solutions in architectural/decorative applications is likely to significantly surge in the coming years. This can be associated with the robustly growing housing and construction sectors in the country, driving the demand for paints and coatings in building interior and exterior, roads, and pavements, among others.
In the forecast period, the demand for sustainable paints and coatings with improved performance and durability that can facilitate recycling and reusability while enhancing the energy efficiency of buildings is anticipated to increase in architectural applications.
Competitive Landscape
Akzo Nobel N.V. is a prominent paints and coatings company, headquartered in Amsterdam, the Netherlands. The company was established in 1994 after the acquisition of Nobel Industries by Akzo. It is operational in over 150 countries around the world and aims to offer sustainable solutions to its customers.
The Sherwin-Williams Company is a leading supplier of coatings and paints in the world. Its products are exclusively sold through its operated facilities and stores in major regions, including Latin America and the Caribbean. Its products are widely used in the industrial, transportation, construction, and packaging sectors.
Other Peru paints and coatings market players include Pinturas Color Chile, PPG Industries, Inc., WEG S.A., Benjamin Moore & Co, Qroma S.A, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Resin Type |
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| Breakup by Technology |
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| Breakup by Application |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Paints and Coatings Market Overview
8.1 Key Industry Highlights
8.2 Latin America Paints and Coatings Historical Market (2018-2022)
8.3 Latin America Paints and Coatings Market Forecast (2023-2028)
8.4 Latin America Paints and Coatings Market Share by Country
8.4.1 Brazil
8.4.2 Argentina
8.4.3 Mexico
8.4.4 Peru
8.4.5 Others
9 Peru Paints and Coatings Market Overview
9.1 Key Industry Highlights
9.2 Peru Paints and Coatings Historical Market (2018-2022)
9.3 Peru Paints and Coatings Market Forecast (2023-2028)
10 Peru Paints and Coatings Market by Resin Type
10.1 Acrylic
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Alkyd
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Epoxy
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Polyester
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Polyurethane
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.6 Others
11 Peru Paints and Coatings Market by Technology
11.1 Powder-Based
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Water-Borne
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 Solvent-Borne
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 Others
12 Peru Paints and Coatings Market by Application
12.1 Architectural
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Industrial
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.2.3 Breakup by Type
12.2.3.1 General Industrial
12.2.3.2 Automotive and Transportation
12.2.3.3 Wood
12.2.3.4 Aerospace and Marine
12.2.3.5 Protective
12.2.3.6 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Market Share by Key Players
15.3 Company Profiles
15.3.1 Pinturas Color Chile
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Demographic Reach and Achievements
15.3.1.4 Certifications
15.3.2 Sherwin-Williams Company
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Demographic Reach and Achievements
15.3.2.4 Certifications
15.3.3 PPG Industries, Inc.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Demographic Reach and Achievements
15.3.3.4 Certifications
15.3.4 WEG S.A.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Demographic Reach and Achievements
15.3.4.4 Certifications
15.3.5 Akzo Nobel N.V.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Demographic Reach and Achievements
15.3.5.4 Certifications
15.3.6 Benjamin Moore & Co
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Demographic Reach and Achievements
15.3.6.4 Certifications
15.3.7 Lanco Manufacturing Corp.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Demographic Reach and Achievements
15.3.7.4 Certifications
15.3.8 Qroma S.A
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Demographic Reach and Achievements
15.3.8.4 Certifications
15.3.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Paints and Coatings Market: Key Industry Highlights, 2018 and 2028
2. Peru Paints and Coatings Market: Key Industry Highlights, 2018 and 2028
3. Peru Paints and Coatings Historical Market: Breakup by Resin Type (USD Million), 2018-2022
4. Peru Paints and Coatings Market Forecast: Breakup by Resin Type (USD Million), 2023-2028
5. Peru Paints and Coatings Historical Market: Breakup by Technology (USD Million), 2018-2022
6. Peru Paints and Coatings Market Forecast: Breakup by Technology (USD Million), 2023-2028
7. Peru Paints and Coatings Historical Market: Breakup by Application (USD Million), 2018-2022
8. Peru Paints and Coatings Market Forecast: Breakup by Application (USD Million), 2023-2028
9. Peru Paints and Coatings Market Structure
Key Questions Answered in the Report
In 2022, the market attained a value of nearly USD 394.0 million.
The market is assessed to grow at a CAGR of 3.3% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 469.5 million by 2028.
The major market drivers are healthy economic growth and the increasing construction activities in the country.
The rising demand for sustainable paints and coatings, the growing preference for powder-based solutions, and technological advancements and innovations are the key trends supporting the market development.
The major resin types considered in the market report are acrylic, alkyd, epoxy, polyester, and polyurethane, among others.
The significant applications of paints and coatings are architectural/decorative and industrial. Industrial application is further divided into general industrial, automotive and transportation, wood, aerospace and marine, protective, among others.
Powder-based, water-based, and solvent-borne, among others, are the different segments based on technologies of paints and coatings.
The major players in the market are Lanco Group, Akzo Nobel N.V., PPG Industries, Inc., Qroma S.A., The Sherwin-Williams Company, Benjamin Moore & Co., and Pinturas Color Chile, among others.
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