Paints, coatings market to reach $176.5 Billion in 2020

According to a new market report by Persistence Market Research “Global Market Study on Paints and Coatings: Industrial paints and coatings will witness highest growth by 2020. The global paints and coatings market was worth USD 121.9 billion in 2013 and is expected to grow at a CAGR of 5.5 per cent during 2014 to 2020, to reach an estimated value of USD 176.5 billion in 2020.

The increasing global population and the growing number of nuclear families escalate the demand for new houses every year, which in turn creates demand for paints and coatings.