According to a new industry report offered by Global Market Insights Inc., the leisure boat marine coatings market is forecast to reach a revenue of $1.9 billion by 2024 with a projected compound annual growth rate of 6.5% over the period of 2017 to 2024.
A new Fact.MR study foresees promising growth prospects for the cool roof coatings market, with a volume increase in 2018 over 2017 estimated at nearly 39,000 metric tons.
The demand for pigments in the coatings industry has increased in the recent past, in line with end-users' search for environment-friendly and cost-effective solutions that have a longer shelf life.
The architectural coatings market is anticipated to witness moderate growth in the coming years, with demand in 2018 expected to have surpassed 33,000,000 tons, according to the latest report by Fact.MR.
Rising demand from a multitude of industries is a key factor fueling coating additives sales, and a growing focus on quality is driving demand for coating additives in manufacturing processes.
In its report, Smithers Rapra forecasts the growth of 14 high-performance pigments and specialty pigments – including complex inorganic colored pigments – and tracks how the overall market will reach $7.97 billion in 2023; a year-on-year growth rate of 3.4%.
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