Colombia Paints Market Size to Grow at a CAGR of 3.0% in the Forecast Period of 2023-2028

The ‘Colombia Paints Market Report, Size, Share, Outlook and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Colombia paints market, assessing the market on the basis of its segments like raw material, technology, and application.

The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

Colombia Paints Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

Forecast CAGR (2023-2028): 3.0%

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Increasing infrastructural development and rising awareness of the advantages of paints are driving the Colombia paints market growth. To meet the needs of an expanding population and rapid urbanisation there are growing investments in the construction sector, for residential as well as commercial buildings. Rising disposable incomes are also augmenting the demand for residential buildings with aesthetically pleasing and performance-oriented paints.

In various buildings, paints are used in the interiors and the exteriors to improve the visual appeal and also enhance the durability of the surfaces. Paints also are capable of providing protection against moisture, humidity, and heat, thereby extending the lifespan of the building and bolstering the Colombia paints market.

Water-borne technology for paints account for a significant share of the market for paints in Colombia as water evaporates quickly, leading to faster drying times. These technologies are also considered to be more eco-friendly, which is increasing the demand for water-borne paints.

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Expansion of regional players is also supporting the growth of the Colombia paints market by easing the supply chain and providing specialised paints suited to local preferences. To meet the rising needs for paints for architectural and industrial applications, key players are anticipated to augment their production capacities in the coming years.

Colombia Paints Industry Definition and Major Segments

Paints are coatings or coverings that are applied on surfaces for protective, decorative or both reasons. Typically paints are in the form of liquids or liquifiable pigments that can be applied in a thin layer onto a substrate, which then converts into a film that is solid. The suitability of the paint material depends upon the substrate that is being painted and required paint properties.

Based on raw material, the market is divided into:

Pigments
Solvents
Resins
- Breakup by Type
  - Acrylic
  - Alkyd
  - Epoxy
  - Polyurethane
  - Others
Additives

On the basis of technology, the market is classified into:

Powder-Based
Water-Borne
Solvent-Borne
Others

By application, the market is segmented into:

Architectural
Industrial
- Market by Type
  - General Industrial
  - Automotive and Transportation
  - Wood
  - Aerospace and Marine
  - Protective
  - Others

Colombia Paints Market Trends

The growing popularity of interior and exterior décor is a key trend influencing the Colombia paints market. With the proliferation of social media, there is an increasing demand for speciality paints with textures and different tones that can be used for stylistic purposes to home décor. Older homes purchased by new owners are often repainted to revitalise and customise the appearance of the home while improving durability. Apart from buildings, paints are also utilised for furniture and various appliances in home settings.

Rising usage of paints in industrial applications, fuelled by rapid industrialisation, is another significant contributor to the Colombia paints market expansion. In automotives, paints are utilised to improve the visual appeal of vehicles and provide protection against environmental factors. In different types of industrial machinery and equipment, paints are used as protective coatings to increase the equipment durability, lifespan, and safety.

Increasing investments towards research and development are aimed towards product improvements, for paints that are more sustainable, environmentally friendly, aesthetically pleasing, and functionally robust. The ease of application of paints is encouraging research into additional properties that can be incorporated into paints for wider usage. Improvements in manufacturing processes are likely to aid in the development of more cost-effective paints, leading to greater sales and higher profits.

Key Market Players

The major players in the Colombia paints market report are:

PPG Industries, Inc.
Benjamin Moore & Co.
Compania Global De Pinturas S.A.
Pinturas Super Ltda
CORLANC S.A.S
Pintubler de Colombia SA
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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