MRO Protective Coatings Market | Key players operating in the market include The Sherwin-Williams Company, Akzo Nobel N.V., Henkel, BASF SE, PPG Industries

The global MRO Protective Coatings Market size is expected to grow from USD 5.4 Billion in 2022 to USD 7.0 Billion by 2027, at a CAGR of 5.5% during the forecast period. MRO protective coatings are thin layers of covering applied on surfaces to protect anything that can cause damage to the function or integrity of the material. The application of a protective coating is common with several different products ranging from industrial equipment to buildings, electronic components, packaging, aircraft, ships, docks, pipelines, storage tanks, control systems, waterproofing applications, passive personal protection, heat protection, and fire protection. The coatings are also helpful in preventing rust or enhancing the function of the product.

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Construction coatings comprise protective coatings and sealants that are applied to a variety of surfaces to enhance their look, corrosion resistance, adhesion, and scratch resistance. Nowadays, polyurethane, epoxy resin, and acrylic coatings are the most frequently utilized construction coatings.

The infrastructure industry is the fastest-growing industry for MRO protective coatings during the forecast period. The main use of MRO protective coatings in infrastructure industry is to protect structures from dust, corrosion, humidity, fungi, solvents, water leakage, and other threat that may affect the functionality and stability of the structures. Asia Pacific is one of the largest and fastest-growing markets for the infrastructure industry.

Also, the expansion of the construction industry around the world is considered as one of the key factor for driving the growth of the MRO protective coatings market. According to Oxford Economics, the global construction industry contributes approximately one-tenth of the global GDP and is expected to reach a size of about USD 8 trillion by 2030. 

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Increasing population and the construction activities in rising economies such as China and India are also supporting the growth of the construction industry as well as the growth of the MRO protective coatings market in the Asia Pacific region. Similarly, Middle East & African countries are also investing significantly in upgrading infrastructure in the oil & gas, power, and transportation industries.

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The major players active in the market are The Sherwin-Williams Company (US), Akzo Nobel N.V. (Netherlands), Henkel (Netherlands), BASF SE (Germany), H.B. Fuller (US), PPG Industries US), Jotun (Norway), Nippon Paint Holdings Co., Ltd. (UK), Axalta Coatings Systems (US), and Hempel A/S (Denmark). These players are adopting the strategies of new product launches, expansions, and agreements to maintain their competitive position in the MRO protective coatings market.

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