Press release
What's driving the Performance Coatings Market growth? Key Players are Hampel, Sherwin- Williams Company, Jotun, Masco Corporation, Nippon Paint Corporation Ltd., PPG Industries, BASF Corporation, Axalta Coating Systems, Akzo Nobel
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Performance coatings are widely used in the fields of automotive and aerospace coatings, industrial coatings, powder coatings, mining and mineral industry, wastewater treatment, infrastructure, power, oil and gas and marine sectors. Performance coatings have a good record of adjusting with surfaces. Its end use includes application on large and small equipment, components, repair & refurbishment and in almost all light and heavy industrial segments. Performance coatings can be used on walls, floors, railings, food and beverage facilities, schools, healthcare facilities, occupied or confined spaces and office buildings. Widespread usage of performance coatings is estimated to boost the growth of the global performance coatings market with a CAGR of 6% over the period 2019-2027.
The global performance coatings market is segmented by resin, coating technology and end user industry. The resin segment is divided into epoxy, silicon, polyester, acrylic, alkyd, polyurethane, fluoropolymer and others. The polyurethane segment is anticipated to have maximum revenue share on
account of being scratch and humidity resistant. The coating technology segment is divided into solvent based, water based, and powder based. Further, the end user industry segment is divided into building & construction, automotive & transportation, industrial, aerospace & defense, marine and others.
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The global performance coatings market is thriving on the back of adoption in wide range of industrial sectors. Performance coatings are being adopted in various sectors such as power, marine, automotive & aerospace, mining and mineral, wastewater treatment, oil and gas etc. Performance coatings enhance the physical properties of the product.
Increasing demand for solar power- Performance coatings help in maximizing the utility of solar energy installations. The increasing demand for solar power in underdeveloped countries as a mass-scale alternative to costlier forms of energy.
Asia-Pacific is expected to account for 30% of the global market during the forecast period on the back of rising urbanization, booming manufacturing sector and introduction of smart cities in the region. Europe is expected to grow at a CAGR of 4.5% on the back of escalating manufacturing sector in the region. North America is expected to grow significantly on the back of growth of local manufacturing sectors in the region. Latin America is projected to expand significantly on the back of developments in the marine, protective coatings, oil and gas, automotive refinishes and plastic coating sectors. This unfolds opportunities for ample investments in the industrial infrastructure sector.
This report also provides the existing competitive scenario of some of the key players of the global performance coatings market which includes company profiling of Hampel, Sherwin- Williams Company, Jotun, Masco Corporation, Nippon Paint Corporation Ltd., PPG Industries, BASF Corporation, Axalta Coating Systems, Akzo Nobel and Valspar Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global performance coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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