Press release
Protective Coatings Market is expected to reach US$ 46.5 billion by 2033 | Key Players- Akzo Nobel N.V., BASF Coatings
Protective Coatings Market
The global market of protective coatings is estimated to reach a revenue of US$ 25.2 Bn in 2023. The protective coatings demand is anticipated to witness a growth rate of 6.3% over the forecast period of 2023 and 2033 in terms of value. The market for protective coatings is expected to reach US$ 46.5 billion in value by 2033
The U.S., Germany, China, Russia, and Japan are majorly influencing the industry in terms of export.
The Protective Coatings Market is a growing industry that is expected to see significant growth in the coming years. Protective coatings are specialized materials that are applied to various surfaces to protect them from corrosion, abrasion, and other forms of damage.
These coatings are widely used in a variety of industries, including oil and gas, automotive, construction, and aerospace.
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Protective Coatings Market Segmentation
By Technologies, the Protective Coatings market is segmented as:
• Solvent-borne
• Water-borne
• Powder
• Others
By Resin, the Protective Coatings market is segmented as:
• Epoxy
• Polyurethane
• Acrylic
• Alkyd
• Polyester
• Others
By Application, the Protective Coatings market is segmented as:
• Infrastructure
o Epoxy
o Polyurethane
o Acrylic
o Alkyd
o Polyester
o Others
• Commercial Real Estate
o Epoxy
o Polyurethane
o Acrylic
o Alkyd
o Polyester
o Others
• Industrial Plants and Facilities
o Epoxy
o Polyurethane
o Acrylic
o Alkyd
o Polyester
o Others
• Oil & Gas
o Epoxy
o Polyurethane
o Acrylic
o Alkyd
o Polyester
o Others
• Power
o Epoxy
o Polyurethane
o Acrylic
o Alkyd
o Polyester
o Others
• Mining
o Epoxy
o Polyurethane
o Acrylic
o Alkyd
o Polyester
o Others
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa
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One of the key drivers of the protective coatings market is the increasing demand for protective coatings in the automotive industry. Protective coatings are used on a variety of automotive components, including the body, engine, and other parts, to protect them from corrosion and other forms of damage.
The increasing production of vehicles, coupled with the growing demand for corrosion-resistant and durable coatings, is expected to drive the growth of the protective coatings market in the automotive industry.
Another key driver of the protective coatings market is the increasing demand for corrosion protection in the oil and gas industry. Protective coatings are essential for preventing corrosion of offshore platforms, pipelines, and other oil and gas infrastructure.
The increasing exploration and production of oil and gas, coupled with the need for long-lasting and effective corrosion protection, is expected to drive the growth of the protective coatings market in the oil and gas industry.
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Key Players-
• The Sherwin-Williams Company
• Akzo Nobel N.V.
• BASF Coatings
• Deutsche Amphibolin-Werke
• Beckers Group
• Tikkurila
• Brillux
• Cromology
• Teknos
• Meffert AG Farbwerke
• Mankiewicz
• IVM Chemicals
• Kansai Paints Co. Ltd.
• The Valspar Corporation
• PPG Industries Inc.
• Arkema Group
• Sika AG
• Wacker Chemie AG
• Hempel A/S
• Jotun
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