Global Performance Coating Market to Grow at 5.2% CAGR through 2025

Global demand for performance coatings have increased steadily over the years, owing to a rapid growth in the number of end-use industry sectors utilizing performance coatings to enhance the quality of manufactured products. To study the performance of the global performance coating market in detail, Market Research Reports Search Engine (MRRSE) has published a new report titled ‘Performance Coating Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.’ 

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The report tracks the different parameters defining the market and provides insights on the factors driving growth in revenue over a five year forecast period. According to the report estimations, the global performance coating market is projected to be valued at US$ 79.1 Bn in 2017 and is anticipated to increase to over US$ 102 Bn by the year 2022, registering a CAGR of 5.2% over the forecast period 2017 – 2022.

Factors Impacting Market Revenue Growth

Performance coatings find wide adoption across a range of applications – particularly in the power sector and marine industry – and this is a primary factor boosting revenue growth of the global performance coating market. Both these sectors are on an upward growth trajectory and this is expected to benefit the global performance coating market in the long run. Further, increasing support from the government and growing private sector investments are expected to augment revenue growth of the global performance coating market during the period of forecast.

Global Performance Coating Market: Analysis & Forecast

The global performance coating market growth has been tracked across the key geographies of Europe, Asia Pacific except Japan, North America, the Middle East, and Japan. Among the several regional markets in the global performance coating market, Asia Pacific except Japan (APEJ) is likely to emerge dominant during the forecast period with over 30% share of the global market, owing to a rapidly expanding manufacturing industry in the region. In APEJ, India and China will drive the regional market revenue growth. The APEJ regional market will witness a 6.2% CAGR in terms of revenue over the period of assessment to reach a market value of US$ 34.8 Bn by 2022. The performance coating market in Europe and North America is anticipated to witness significant growth owing to the proliferation and steady rise of the manufacturing sector across these regions.

Performance coatings utilize different types of resins during production. Some of the resins used are polyester, epoxy, acrylic resin, and polyurethane. Epoxy is expected to be the most preferred resin used in the global performance coating market. The epoxy segment is estimated to be valued at US$ 29.2 Bn in 2017 – reflecting a market share of 37% in the global performance coating market.

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Global Performance Coating Market: Vendor Ecosystem

Some of the leading players functional in the global performance coating market are profiled in the report. Companies featured include Axalta Coating Systems Ltd., PPG Industries Inc., Jotun A/S, Masco Corporation, AkzoNobel NV, BASF SE, The Valspar Corporation, Hempel A/S, and Nippon Paint Holding Co. Ltd. The global market for performance coating offers significant opportunities for market players and an increasing trend of strategic collaborations between the companies operating in the global market can be witnessed in the coming years.

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This release was published on openPR.