Press release
Epoxy Primer Market Report 2024: Strategies And Recent Developments
Epoxy Primer Market
The Business Research Company offers in-depth market insights through Epoxy Primer Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The epoxy primer market size has grown strongly in recent years. It will grow from $10.22 billion in 2023 to $10.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to infrastructure development, corrosion prevention, industrialization, advancements in formulations, demand from automotive and aerospace sectors.
The epoxy primer market size is expected to see strong growth in the next few years. It will grow to $14.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to emerging markets, regulatory compliance, defense and military applications, sustainable coatings, renewable energy infrastructure. Major trends in the forecast period include high-performance epoxy primers, waterborne epoxy primers, concrete substrate priming, hybrid epoxy primers, nanotechnology in epoxy primers.
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Market Segmentation:
The main substrates for epoxy primer are metal, concrete, masonry, fiberglass, and others. The metal refers to an epoxy primer that is used on bare metal to provide corrosion protection. A metal substrate refers to the parent or base material of metal to which a coating is applied or the substance upon which a process is carried out in the context of corrosion. The different technologies include solvent-borne and waterborne that are used in building and construction, automotive, marine, machinery and equipment, and others.
Major Driver - Booming Automotive Industry Fuels Growth Of The Epoxy Primer Market
The booming automotive industry is expected to propel the growth of the epoxy primer market going forward. The automotive industry comprises the companies involved in the design, manufacture, and sale of motor vehicles and related components. Epoxy coatings are frequently used in the automotive sector as primers to increase the adherence of the metal surface since paints in the automotive sector are crucial for resisting corrosion. Hence, the boom in the automotive industry results in an increased demand for epoxy primers. For instance, according to a report shared by the India Brand Equity Foundation, commonly known as IBEF, an Indian government export promotion agency, vehicle production in India was 22.93 million vehicles in 2022. Therefore, the booming automotive industry is driving the growth of the epoxy primer market.
Competitive Landscape:
Major companies operating in the epoxy primer market include PPG Industries Inc., Akzo Nobel N.V., Sherwin-Williams, Axalta Coating Systems LLC, BASF SE, Berger Paints India Limited, Chugoku Marine Paints Ltd., Hempel A/S, Jotun A/S, Kansai Paint Co. Ltd., Nippon Paint Co. Ltd., RPM International Inc., Tikkurila Oyj, Asian Paints Ltd., Benjamin Moore & Co., Carboline Company, Cloverdale Paint Inc., Diamond Vogel Paints, Dunn-Edwards Corporation, H.B. Fuller Company, International Paint Ltd., J.W. Ostendorf GmbH & Co. KG, KCC Corporation, Krylon Products Group, Mascoat, NPA Coatings Inc., Rust-Oleum Corporation, Tnemec Company Inc., Valspar Corporation
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Top Trend - Technological Advancements Driving Innovation In The Epoxy Primer Market
Technological advancement is a key trend gaining popularity in the epoxy primer market. Major companies operating in the epoxy primer sector are focused on adopting new technological solutions to sustain their position in the market. For instance, in December 2021, Applied Graphene Materials, a UK-based chemicals company launched a line of anti-corrosion epoxy primers that use its Genable technology. The Genable Epoxy primer is a C3-rated hybrid product offering synergy benefits by combining graphene with a zinc phosphate additive for standard applications in urban and industrial environments. It offers improved performance and protection against corrosion in harsh environments such as offshore and marine applications.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Epoxy Primer Market Characteristics
3. Epoxy Primer Market Trends And Strategies
4. Epoxy Primer Market - Macro Economic Scenario
5. Epoxy Primer Market Size And Growth
…..
27. Epoxy Primer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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