Epoxy Primer Market worth $10.91 billion by 2023 | Key Players include Sherwin-Williams, PPG Industries, AkzoNobel, BASF, Axalta Coating Systems, Kansai Paint, Nippon Paint, Tikkurila Oyj, and RPM International

According to recent research "Epoxy Primer Market by Substrate (Metal, Concrete & Masonry, and Fiberglass), Application (Building & Construction, Automotive, Marine, and Machinery & Equipment), Technology (Solvent-borne, and Waterborne), and Region-Global Forecast to 2023", published by MarketsandMarkets™, The epoxy primer market is projected to grow from USD 8.52 billion in 2018 to USD 10.91 billion by 2023, at a CAGR of 5.1% between 2018 and 2023. APAC is expected to lead the global epoxy primer market during the forecast period. Epoxy primer is used as a sealer that produces excellent non-porous finish on applied topcoats. It has superior bonding capacity and offers excellent adhesion to a wide variety of substrates, such as metal, concrete & masonry, wood, fiberglass, and others. It also has water resistant and corrosion inhibiting capabilities. Therefore, it is preferred in different applications, such as building & construction, automotive, marine, and machinery & equipment.

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The epoxy primer market is projected to grow from USD 8.52 billion in 2018 to USD 10.91 billion by 2023, at a CAGR of 5.1% between 2018 and 2023. The growth of the epoxy primer market is primarily driven by the increasing demand in various applications and growing awareness to reduce the loss caused by corrosion. Reduction of costs incurred due to corrosion and the growing industries in the emerging markets offer lucrative growth opportunities to the epoxy primer manufacturers.

The metal substrate segment is projected to register the highest CAGR, both in terms of volume and value, during the forecast period. Epoxy primers are used on metal substrates for different applications such as construction, automobile, aviation, marine, military, and machinery and equipment. The demand for epoxy primers is high in building & construction, marine, and automotive sectors. These primers form an important layer in automotive and marine applications, which provides excellent adhesion and resistance to corrosion and chemicals. Their application also helps in reducing the maintenance cost over a long period of time.

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Some of the major players in the epoxy primer market include Sherwin-Williams, PPG Industries, AkzoNobel, BASF, Axalta Coating Systems, Kansai Paint, Nippon Paint, Tikkurila Oyj, and RPM International. These players focus on expansions and new product launches as major strategies to consolidate their position in the market. There is a high competition among these market players, and they focus on organic and inorganic growth strategies to increase their market share and global foothold. For instance, in June 2017, Sherwin-Williams acquired Valspar Corporation (US). The acquisition has helped the company enhance its position as a premier global paints and coatings provider, globally. In October 2017, PPG Industries acquired the Crown Group (US), a coating application company. The acquisition helped it serve its customers better in North America. PPG Industries has also invested about USD 49.0 million to start a new paints & coatings manufacturing facility and commercial operation in the Lipetsk region of Russia. The expansion helped it better serve the existing customers in Russia and Eastern Europe, and increases its presence in Europe and Middle East & Africa (EMEA) region.

PPG Industries is one of the largest players in the epoxy primer market. It has a wide product portfolio and global presence. The company offers epoxy primers through both of its business segments, namely, performance coatings and industrial coatings. It serves automotive, construction, aviation, marine, military, and other industrial applications. The company focuses on both organic and inorganic growth strategies to enhance its market position and global presence in the overall coating business.

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Sherwin-Williams is one of the largest players in the epoxy primer market. The company offers epoxy primers for various applications, such as OEMs, automotive refinish systems, marine, aviation, and building & construction. It mainly focuses on inorganic growth strategies to enhance its market position.

AkzoNobel is the third-largest player in the epoxy primer market. The company offers epoxy primers for construction, automotive, vehicle refinish, marine, aviation, commercial, and other industrial applications. The company has a strong presence worldwide. It undertakes both organic and inorganic growth strategies to increase its market share and global foothold. For instance, in July 2017, the company acquired Flexcrete Technologies Ltd. (UK) that produces products for the protection and repair of concrete substrates. In May 2017, the company started a performance coating production facility in Brazil. This expansion has helped it strengthen its International Brand and enables it to better serve customers in South America.

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