In a report by MarketsandMarkets, the global paints and coatings market is projected to grow from $194.5 billion in 2024 to $227.5 billion by 2029, at a compound annual growth rate of 3.2%. The Asia-Pacific region is expected to maintain the largest share, supported by strong economic activity and investments in construction, automotive, and infrastructure.

Demand continues to rise due to urbanization, new residential development, and infrastructure upgrades like smart cities, highways, and water systems. Meanwhile, established markets such as the U.S., Germany, and Japan show more stable demand. Environmental regulations are also driving interest in VOC-free coatings, while the use of fluoropolymers in building applications presents growth opportunities.

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