Protective Coatings Market Estimate To Boost Growth In Demand By : Global Forecast

These days, there are various scenarios those propagate different kinds of chemicals & materials market outlook, these are expected to increase the capital expenditure across variety of industries. Persistence Market Research digs deep into the chemicals' vertical and give a holistic view regarding the same.

The global protective coatings market is estimated to be valued at around US$ 55 Bn by 2031-end, increasing at a robust CAGR of more than 7% over the next ten years. At present, industry revenue is estimated to be worth approximately US$ 27.6 Bn. A protective coating is a covering that is applied over a surface to ensure protection from external environment that could damage the function or integrity of an item or part.

In terms of market value, Asia Pacific is expected to dominate the global protective coatings market over the forecast period, with North America being the second largest market, accounting for nearly 2/10 revenue share of the global estimated market value by 2021-end. Asia Pacific protective coatings market is slated to expand at the highest CAGR in terms of value over the forecast period.

Protective coatings find application in consumer products as well as in heavy machinery, marine, automotive and oil & gas industry, etc. Protective coatings are generally classified by their basic resin type, such as epoxy, alkyd, acrylic, or polyurethane. However, different blends of resin, pigments, solvents, and additives result in different serviceability and properties of protective coatings.

To remain 'ahead' of your competitors, request for a samples@ https://www.persistencemarketresearch.com/samples/3082

protective-coatings-market

Growing demand for new infrastructure in developing economies and increased investments to upgrade aging infrastructure in developed economies are expected to emerge as major factors driving demand for protective coatings over the coming years.

Innovations in product and technology focused on eco-friendly and cost-efficient solutions and increasing adoption of water-borne protective coatings due to stringent environmental regulations are other factors expected to fuel the growth of the market over the forecast period. However, stringent government regulations focusing on reduced VOC emissions, availability of substitutes at cheaper costs, and volatility of raw material costs are projected to impede the growth of the global protective coatings market during the forecast period. Global protective coating consumption is expected to increase at a CAGR of 6.8% in terms of volume over the next ten years.

To connect with our sales representative- sales@persistencemarketresearch.com

On the basis of technology, the water-borne segment is expected to expand at the fastest value CAGR during the forecast period. The growth of this segment is primarily driven by increased adoption of water-borne protective coatings over solvent-borne due to the stringent environmental regulation limiting VOC emissions.

On the basis of resin type, revenue contribution of the epoxy segment is expected increase at the highest CAGR during the forecast period. On the basis of application, infrastructure segment is expected to dominate the market, accounting for 2/10 revenue share by 2031.

Akzo Nobel N.V., PPG Industries Inc., The Sherwin-Williams Company, Hempel Group, The Valspar Corporation and Jotun are the leading players in the global protective coatings market. Other players include Sika AG, Kansai Paints Co. Ltd, and Wacker Chemie AG.

For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/3082

Read More Trending "PMR Exclusive Article

Cold Flow Improvers Market - https://www.persistencemarketresearch.com/market-research/cold-flow-improvers-market.asp

Methyl Methacrylate Market - https://www.persistencemarketresearch.com/market-research/methyl-methacrylate-market.asp

Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein.

This release was published on openPR.