Protective Coatings Market 2022
The global protective coatings market is predicted to amass a worth of approximately US$ 55 Bn by the end of the decade. Over the next ten years, sales of protective coatings are expected to exhibit a healthy CAGR of 7%. The U.S., Germany, China, Russia, and Japan are majorly influencing the industry in terms of export. Backward integration across the value chain, increased adoption of water-based coatings instead of solvent-based coatings, and rising mergers & acquisitions are some of the key trends currently observed in the global landscape.
A protective coating is a covering that is applied over a surface to ensure protection from external environment that could damage the function or integrity of an item or part. Protective coatings find application in consumer products as well as in heavy machinery, marine, automotive and oil & gas industry, etc.
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Protective coatings are generally classified by their basic resin type, such as epoxy, alkyd, acrylic, or polyurethane. However, different blends of resin, pigments, solvents, and additives result in different serviceability and properties of protective coatings.
Growing demand for new infrastructure in developing economies and increased investments to upgrade aging infrastructure in developed economies are expected to emerge as major factors driving demand for protective coatings over the coming years.
Innovations in product and technology focused on eco-friendly and cost-efficient solutions and increasing adoption of water-borne protective coatings due to stringent environmental regulations are other factors expected to fuel the growth of the market over the forecast period.
However, stringent government regulations focusing on reduced VOC emissions, availability of substitutes at cheaper costs, and volatility of raw material costs are projected to impede the growth of the global protective coatings market during the forecast period. Global protective coating consumption is expected to increase at a CAGR of 6.8% in terms of volume over the next ten years.
In terms of market value, Asia Pacific is expected to dominate the global protective coatings market over the forecast period, with North America being the second largest market, accounting for nearly 2/10 revenue share of the global estimated market value by 2021-end.
Key Companies-
- Akzo Nobel N.V.
- PPG Industries Inc.
- The Sherwin-Williams Company
- The Valspar Corporation
- Jotun
- Hempel Group
- Kansai Paints Co. Ltd.
- Other
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Market Segmentation:
By Technology
- Solvent-borne
- Water-borne
- Powder
- Others
By Resin Type
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Polyester
- Others
By Application
- Infrastructure
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Polyester
- Others
- Commercial Real Estate
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Polyester
- Others
- Industrial Plants and Facilities
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Polyester
- Others
- Oil & Gas
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Polyester
- Others
- Power
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Polyester
- Others
- Mining
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Polyester
- Others
By Region
- Asia Pacific
- Europe
- North America
- Latin America
- The Middle East & Africa
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Key Questions Answered in This Report –
Which is the largest regional market for Protective Coatings?
What are the upcoming trends of Protective Coatings Market in the world?
What are the key driving factors for the growth of the Protective Coatings Market?
What are the top players operating in the Protective Coatings Market?
What are the key regions in the global Protective Coatings market?
Who are the key players/companies in the global Protective Coatings market?
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