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Protective Coatings Market

Protective Coatings Market<br>

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Protective Coatings Market

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. PROTECTIVE COATINGS MARKET ANALYSIS • Protective Coatings Market, By Technology (Solvent-borne Coatings, Water-borne Coatings, Powder Coatings, Others), By Application (Infrastructure, Commercial Real Estate, Industrial Plants and Facilities, Oil & Gas, Power Mining), By Resin Type (Epoxy, Polyurethane, Acrylic, Alkyd, Polyester, Others), and By Region (Asia Pacific, Europe, North America, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027 • The protective coating is applied to the surface in order to provide protection from harsh environmental conditions that could cause damage. They are widely used across various applications such as electronics products, marine, automotive heavy machinery, power generation, and oil & gas industry, etc. On the basis of resin type, the market is classified into epoxy, polyurethane, acrylic, polyester, and alkyd. • The global protective coatings market is projected to reach around US$ 35,707.3 million by the end of 2027, in terms of revenue, growing at CAGR of 9.0% during the forecast period (2020-2027). • Drivers: • Increasing construction of new infrastructure and rising spending on the maintenance of the existing infrastructure is expected to drive the market growth of protective coatings. Economies such as India, China, South Africa, and GCC have witnessed a significant increase in infrastructure development due to increasing investment. According to the India Brand Equity Foundation, India plans to spend US$ 1.4 trillion on infrastructure by 2025.

  3. Figure 1. Global Protective Coatings Market Share (%) in terms of Value, By Region, in 2019 Asia Pacific region dominated the global protective coatings market in 2019, accounting for 44.9% share in terms of value, followed by North America and Europe, respectively.

  4. Market Dynamics The increasing price of crude materials coupled with the highly fragmented market due to presence of various players is expected to restrict the market growth. This is due to the presence of back-end manufacturers that offer product at very low price result in intense competition.

  5. Market Opportunities • Increasing adoption of water-based coatings from conventional solvent-based coatings due to strict environmental regulations is expected to bring new market opportunities. For instance, Water-based coatings reduce the level of volatile organic compound emissions (VOC) by 80% as compared to solvent-based coatings. Such advantage associated with the water-based coatings is expected to raise the adoption across various end-use industries, thereby fueling the market growth. • Advancement in the technology by major players in order to meet the evolving market demand is expected to serve major growth opportunities over the forecast period. For instance, in October 2018, Axalta announced the launch of its new protective coatings brand, Corroless. The Corroless portfolio consists of Axalta's most durable products, engineered to provide exceptional, long-term chemical and corrosion resistance to a wide array of iron and steel substrates, while remaining cost-effective. 

  6. Figure 2. Global Protective Coatings Market– Opportunity Analysis

  7. Market Trends • Epoxy resin coatings are gaining popularity across the construction industry as they improve durability and resilience. Floor toppings, grouts, crack injection, and adhesives are some of the applications of epoxy resin coatings. Moreover, this coating is also applied to home appliances such as washing machines and refrigerators in order to prevent them from the corrosive environment and enhance aesthetic appeal. Hence, growing demand for epoxy resins coatings is expected to foster the market growth of protective coatings. • Increasing use of protective coatings for maintaining old infrastructure is one of the major trends in the market. Moreover, protective coatings are also used in the water storage tanks as they are highly prone to corrosions and hence require coatings, thereby fueling the market growth. Furthermore, the development of the aerospace industry due to increasing spending on maintenance of aircraft is further anticipated to augment the market growth of protective coatings.

  8. Figure 3. Global Protective Coatings Market Share (%) in terms of Value, By Resin Type, in 2019

  9. On the basis of application in 2019, the epoxy segment has accounted the largest market share of 33.3% in terms of value, followed by polyurethane and alkyd segment respectively. • Regulations • Asia Pacific • In Hong Kong, 'Chapter 311, Air Pollution Control Ordinance' – an air pollution control (volatile organic compounds) regulation sets VOC content limits for several types of paints & coatings, printing inks, consumer products, adhesives & sealants. It mandates proper labeling for regulated architectural paints not meeting their future prescribed VOC limits, requires displaying product information in Material Safety Data Sheets, trade catalogs, and packaging. • Global Protective Coatings Market - Impact of Coronavirus (Covid-19) Pandemic • Coronavirus is expected to have a significant impact on infrastructure sector. Infrastructure are expected to vulnerable to delays due to supply chain disruptions and unavailability or shortage of workers. Governments across the world are devoting resources to address immediate needs, which in turn has made infrastructure projects take a back seat. This is expected to decrease the demand for protective coating from infrastructure sector. The coronavirus is expected to have a short term impact on protective coatings market. According to Coherent Market Insights, protective coatings market is expected to grow at a lower CAGR between 2020 and 2021.

  10. Competitive Section: • Company Names  • Akzo Nobel N.V. • The Valspar Corporation • PPG Industries Inc • Arkema Group • Kansai Paint Co. Ltd • The Sherwin-Williams Company • Sika AG • Wacker Chemie AG • Hempel A/S • Jotun • Few Recent Developments

  11. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Services • Reference: https://www.coherentmarketinsights.com/market-insight/protective-coatings-market-2715

  12. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  13. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-67 Email : sales@coherentmarketinsights.com

  14. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/

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