2K protective coatings Market Constantly Witnesses Novel Developments -Forecast Till 2030 | Sika AG (Switzerland), Nippon Paints Holdings Co. Ltd. (Japan)

2K protective Coating is a 2 component low odour, environmental friendly, high performance aliphatic urethane. It is extremely fast cure, and very long pot life ensures less down time. Its high gross retention and abrasion resistance attract the consumers to use the coating for commercial purpose. Requirement of protective coatings in construction, oil and gas, aerospace, mining, power generation, etc., is anticipated to increase the sales of 2K protective coatings. As these coatings are used in durable surface for sealing cementitious overlayments, wood furniture, kitchen cabinets, etc., its demand may increase for residential purpose too.

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Epoxy Protective Coating to have a Lucrative Demand

Epoxy paint is mostly used as floor coatings for cement or metal deck floors. Its use as primers and marine coatings for their high solids, superior adhesion properties and abrasion resistance may fascinate the consumers towards its purchase. As epoxy protective paints can also be used as fire retardants in severe application areas, its growth in chemical plants, naval ships and commercial aircraft is anticipated to grow during the forecast period. Other than that, usage of epoxy paint in garages, warehouses, retail locations, etc. is making it more prevalent among others in the sector. The strength and impact resistance of epoxy paint, its flexibility against cracking and fracture make it more adaptable among the customers. Due to all such factors, the demand of epoxy protective coating may be anticipated to have good sales during the forecast period.

Growing Demand in Infrastructure Industry

Infrastructure industry dominated the market since many years and is projected to do it further. Although, covid-19 have caused disruptions in construction and infrastructure industry, but still the companies aim to reshape the industry in many ways, for instance, intensifying its focus on operation resilience, affordability of infrastructure, deployment of new technologies and its need for sustainability. Increasing demand in automotive industry, coil, wood, construction industry, is projected to increase the sales in of 2K protective coatings in the market.

Challenges of Coating in Aerospace and Marine Industries

Impact of rain, sunlight, wind, heat, etc. can have a negative impact on protective coatings. In marine, the antifouling coating at the water tight body of the ship destroy organisms before they get close to it. Corrosion also can affect the aerospace and marine and protective coatings cannot save it. Additionally, the cost of 2K coatings are very costly owing to cost of raw materials, high cost of energy, etc. Government regulations on harmful VOCs and investment in products having low VOCs, and less harmful biocides could lead the market to decline during the forecast period. Therefore, decline in usage of solvent borne coatings and switch o environmental friendly coatings may be the restraining factor for market impact.

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Competitive Landscape

Key players in the market include Sika AG (Switzerland), Nippon Paints Holdings Co. Ltd. (Japan), PPG Industries (US), Hempel A/S (Denmark), Chugoku Marine Patients Ltd. (Japan), The Sherwin-Williams Company (US), Kansai Paint Co. Ltd. (Japan), AkzoNobel N.V. (Netherlands), Jotun A/S (Norway), RPM International Inc. (US), Arkema, Axalta Coating Systems, Wacker Chemie AG, etc.

Akzonobel in September 2020 invested EUR 20 million to increase its powder coating capacity at its site in Como, Italy. The extra capacity in Como is being installed in a renovated building and company is introducing advance equipment and technology so that it can deliver higher productivity rates and efficiency gains. The new operation also aims to use recycled energy to reduce consumption. The new facility will provide strategic backup for AkzoNobel’s Arnsberg site in Germany.

In November 2020, BASF introduced JONCRYLxDTM, a unique acrylic polyol suitable for low VOC solvent based direct to metal 2K urethane coatings. The product provides low VOC capability, long pot life, good and wet adhesion to various metal substrates, good corrosion resistance which is measured in salt spray, and also provides good UV durability which helps in long service life.

PPG announced the launch of PPG Aquacover waterborne coating system for shipping containers in China in November 2020. PPG Aquacover waterborne system can be applied by brush, roll, air, airless, spray, providing high glass and smooth skin. The company is dedicated towards research and development of protective and marine coatings for heavy industrial applications. The coating delivers excellent anti-corrosion performance for shipping and provides high build quality.

Regional Outlook

Asia Pacific is expected to witness a significant growth due to expansion in oil and gas activities, increasing incidences of infrastructure activities across the region are expected to drive the market growth. With the increase in population and due to rapid urbanisation, construction of flyovers and bridges to improve the durability and reduce the damage is the primary concern and therefore, coatings market may have a lucrative demand. China continues to have an exponential growth in government spending and investment for construction. Plans of Indian government to construct and upgrade the old construction sectors in the next coming years. Aforementioned factors may contribute towards the development of 2K protective coatings in the market.

European construction sector is also among the largest sectors in the region. It contributes close to 9% of the EU GDP. Although due to covid-19 the industry has been hit hard, and with rising incidences, it may affect the market again. Due to this, Euroconstruct has revised their construction spending and expects to grow. Demand from oil and gas industry may have a positive impact on the growth. With the Connecting Europe Facility, EUR 24.05 billion were invested to cofund TEN-T projects of common interest in the EU member states. Germany is expected to dominate the coatings sector due to construction and eventually requirement of protective coatings may increase.

With the construction sector being the largest contributor towards US economy, the industry employs almost 7 million people. Construction of residential buildings and therefore, demand of luxurious homes may surge the market growth for 2K protective coatings.

Segmentation

Based on Resin Type

Epoxy
Polyurethane
Alkyd
Acrylic
Based on End-user Industry

Oil and gas industry
Petrochemical
Marine
Cargo Containers
Power Generation
Water and Waste Treatment
Based on Application

Pipe Coatings
Fire Protection
Corrosion Protection
Tank Linings
Abrasion Resistance
Chemical Resistance
Heat Resistance
Based on Region

North America
Europe
Asia Pacific
South America
Middle East and Africa
Key Questions Answered​

Who are the leading players in 2K protective coatings market?Nippon Paints Holdings Co. Ltd. (Japan), PPG Industries (US), Hempel A/S (Denmark), Chugoku Marine Patients Ltd. (Japan), The Sherwin-Williams Company (US), Kansai Paint Co. Ltd. (Japan), etc.
What are the applications of 2K protective coatings?Heat resistance, pipe coatings, chemical resistance, tank lining, etc.
Which segment to grow higher based on resin type?Epoxy resin owing to its resistance towards humidity, abrasion water, etc.
Which construction sector is anticipated to have the fastest growth during the forecast period?Civil and Infrastructure sector attributing to demand for new transport, expansion plans of businesses, etc.
Which region to hold the largest market share?China and India in Asia Pacific.

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