Press release
Protective Coatings market Is Expected To Reach USD 17.8 Billion in 2026 | Akzo Nobel N.V.,The Valspar Corporation,PPG Industries Inc,Arkema Group,
Protective Coatings market
Protective coatings are predicted to expand in response to rising spending on new infrastructure and rising spending on upkeep of existing infrastructure. Infrastructure development has increased significantly in economies such as India, China, South Africa, and the Gulf Cooperation Council (GCC). India aims to spend US$ 1.4 trillion on infrastructure by 2025, according to the India Brand Equity Foundation.
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Detailed Segmentation:
Global Protective Coatings Market, By Technology:
Solvent-borne Coatings
Water-borne Coatings
Powder Coatings
Others
Global Protective Coatings Market, By Application:
Infrastructure
Commercial Real Estate
Industrial Plants and Facilities
Oil & Gas
Power
Mining
Increasing adoption of water-based coatings from conventional solvent-based coatings due to strict environmental regulations is expected to bring new market opportunities. For instance, Water-based coatings reduce the level of volatile organic compound emissions (VOC) by 80% as compared to solvent-based coatings. Such advantage associated with the water-based coatings is expected to raise the adoption across various end-use industries, thereby fueling the market growth.
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Advancement in the technology by major players in order to meet the evolving market demand is expected to serve major growth opportunities over the forecast period. For instance, in October 2018, Axalta announced the launch of its new protective coatings brand, Corroless. The Corroless portfolio consists of Axalta's most durable products, engineered to provide exceptional, long-term chemical and corrosion resistance to a wide array of iron and steel substrates, while remaining cost-effective.
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