Epoxy Coatings Market Forecast Report 2023: Leading Global Players - BASF SE, PPG industries, Aditya Birla Chemicals, AkzoNobel N.V, Tikkurila OYJ, RPM International Inc.

Market Overview:

Epoxy coatings are a lucrative market and is expected to have a steady growth during the forecast years. Epoxy resins are synthetic resins that are extensively used in the manufacturing of plastics and adhesives. Epoxy coatings are formed through the process of mixing polymine hardener and epoxide resin by a process called curing. Epoxy coatings possesses various qualities such as corrosion resistance, superior adhesion, flexibility which paves their way into many end user industries. These coatings acts as an excellent adhesion to various substrates such as metal, fiber and glass.

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Epoxy coatings are segmented on the basis of their technology, application and region. On the basis of the technology power based is the fastest growing segment owing to its low VOC content. On the basis of application, construction accounts to have the largest share owing to the improved strength, chemical resistance, coupled with the growing demand for low VOC emitting coatings.

Industry Related News:

1 January, 2018 - Versa flex Incorporation and Raven Lining has successfully completed its merger. This merger is expected to build up their product portfolio and technology in polyurea, epoxy, polyurethane, and cementations technologies.

Intended Audience:

• Epoxy Coatings Manufacturers
• Traders and Distributors of Epoxy coatings
• Production Process Industries
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratory

Competitive Landscape
The Global Epoxy Coatings Market is a highly lucrative market driven by flourishing growth in construction and automobile industry, along with the growing manufacturing plants. AkzoNobel N.V. (Netherlands), Axalta Coating Systems (U.S.), BASF SE (Germany), Berger Paints India Limited (India), Kansai Paint Company Limited (Japan), Nippon Paint Company Limited (Japan) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the global Epoxy coatings Market is projected to witness considerable competition over the forecast period of 2017-2023.

Asia pacific is expected to be the fastest growing region during the forecast years. The increasing Globalization and urbanization in the developing economies of the region has propelled the construction of residential and commercial infrastructure which is a dominant factor for the demand for epoxy coatings in the region. Moreover, the shifting of manufacturing base by the automobile companies to Asia Pacific owing to favorable government policies and cheap labor is further expected to boost the market. In addition to this, the growing encouragement by the government to reduce greenhouse emissions is also surging the market owing to the environmental friendly qualities of epoxy coatings.

Market Segmentation:

The Global Epoxy Coatings Market is categorized on the basis of Type, Application:

On The Basis Of Type-
• Waterborne
• Powder-Based

On The Basis Of Application -
• Construction,
• Paints and Coatings,
• Automobile & Transport

Regional Analysis:
Geographically, Epoxy Coatings Market is segmented across Five Regions in the world namely:

• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.

The world’s largest share of global epoxy coating market has been held by Asia Pacific followed by Europe, North America, Latin America, and the Middle East & Africa. China, India and Malaysia are the countries in Asia Pacific region, expected to grow with the same pace in the forecast period, 2017-2023. Germany, U.K and Italy in Europe have observed a rapid growth due to increasing investment by the paints and coating industries.

A stunning growth has been projected in North American and Latin American regions due to the production of environmental friendly products. The demand for epoxy coating market has been increasing in the Middle East and Africa due to growing investments in the construction and industrial activities.

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This release was published on openPR.