Paint is any liquid, liquefiable, or mastic composition that, after application to a substrate in a thin layer, converts to a solid film. It is most commonly used to protect, color, or provide texture to objects. Paint can be made or purchased in many colors—and in many different types, such as watercolor, synthetic, etc. Paint is typically stored, sold, and applied as a liquid, but most types dry into a solid.
Varnish is a transparent, hard, protective finish or film that is primarily used in wood finishing but also for other materials. Varnish is traditionally a combination of a drying oil, a resin, and a thinner or solvent. Varnish finishes are usually glossy but may be designed to produce satin or semi-gloss sheens by the addition of “flatting” agents. Varnish has little or no color, is transparent, and has no added pigment, as opposed to paints or wood stains, which contain pigment and generally range from opaque to translucent. Varnishes are also applied over wood stains as a final step to achieve a film for gloss and protection. Some products are marketed as a combined stain and varnish.
In polymer chemistry and materials science, resin is a “solid or highly viscous substance” of plant or synthetic origin that is typically convertible into polymers. They are often mixtures of organic compounds, principally terpenes. Many plants, particularly woody plants, produce resin in response to injury. The resin acts as a bandage protecting the plant from invading insects and pathogens.
Indian paint market is expected to reach 49,545 INR Crs by 2016 – 17, decorative market will continue to grow and would have higher share compared to industrial paints.
The paints & coatings market is projected to reach USD 209.36 billion by 2022, at a CAGR of 5.45% between 2017 and 2022. The market growth in recent years can be attributed to the increased demand for paints & coatings in the Asia-Pacific region.
Global demand for paint and coatings is forecast to rise 5.2 % per year to 51.6 million metric tons in 2017, valued at USD186 billion.
The Paint market is projected to grow from USD 160.54 Billion in 2017 to USD 209.36 Billion by 2022, at a CAGR of 5.45% during the forecast period.
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