The global paints and coatings market size is projected to grow from $167.04 billion in 2022 to $235.06 billion by 2029, at a CAGR of 5% in the forecast period.1
Most coatings formulations consist of three parts: resins, pigments and carrier fluids. Hydrocarbon and oxygenated fluids are key components in resins and carrier fluids for industrial, automotive and architectural coatings.
Regulations in the coatings industry continue to evolve with increased focus on the impacts of products on environment and the safety of workers. There is a need for coatings producers to balance Safety, Health and Environment (SHE) requirements against paint performance attributes, such as durability and weathering.
ExxonMobil offers a broad portfolio of hydrocarbon and oxygenated fluids that enables customers to satisfy increasingly stringent regulatory requirements while maintaining peak performance in their paint and coating formulations to meet anticipated market needs.
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1 Source: Fortune Business Insigts, Paints and Coatings Market: https://www.fortunebusinessinsights.com/industry-reports/paints-and-coatings-market-101947