Epoxy Coating Market Report 2024 - Future Challenges, Growth Opportunities, Upcoming Trends, Industry Demand And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Epoxy Coating Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The epoxy coating market size has grown strongly in recent years. It will grow from $34.58 billion in 2023 to $36.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the growth of the automotive industry, marine industry expansion, rise in industrial flooring, oil and gas industry growth, and expansion of the electronics sector.

The epoxy coating market size is expected to see strong growth in the next few years. It will grow to $45.60 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to growing demand for green and sustainable coatings, technological advancements in epoxy resins, stringent environmental regulations, growth in renewable energy projects, and an increase in oil and gas exploration. Major trends in the forecast period include rising demand for bio-based epoxy coatings, increasing adoption of smart coatings, expansion of epoxy powder coatings, expansion of epoxy powder coatings, and growth in anti-microbial epoxy coatings.

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Market Drivers and Trends:

The growing building and construction industry is expected to propel the growth of the epoxy coating market going forward. The building and construction industry involves the planning, design, and construction of infrastructure, including residential, commercial, and industrial projects, as well as the maintenance and renovation of existing structures. The growing building and construction industry is driven by increasing urbanization, population growth, and rising demand for infrastructure development and housing projects. Epoxy coatings in the building and construction industry are used to protect surfaces such as floors, walls, and concrete structures, offering enhanced durability, corrosion resistance, and a long-lasting finish. For instance, in August 2024, according to the Australian Bureau of Statistics, an Australia-based government agency, the building work done in June 2024 increased to $33,815.0 million, up from $32,443.2 million in June 2022. Therefore, the growing building and construction industry is driving the growth of the epoxy coating market.

Major companies operating in the epoxy coating market are focusing on developing innovative solutions, such as textured epoxy coating technology, to offer increased bond strength, damage tolerance, and corrosion resistance for both horizontal and vertical concrete projects. Textured epoxy coating is a type of epoxy coating that contains additives or materials that give the surface a rough or patterned texture. For instance, in April 2024, Sherwin-Williams Company, a US-based paint and coating manufacturing company, launched the Sher-Bar TEC, a transformative new coating technology for the concrete industry. Sher-Bar TEC by Sherwin-Williams features an advanced formulation that provides exceptional durability and chemical resistance while maintaining a smooth finish. Its transformative technology allows for faster application and curing, offering long-lasting protection with minimal downtime.

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Major Key Players of the Market:

BASF SE, DOW Chemical Company, Wanhua Chemical Group Co. Ltd., Sherwin-Williams Company, PPG Industries Inc., Evonik Industries AG, Solvay SA, AkzoNobel N.V., Sika AG, Nan Ya Plastics Corporation, Nippon Paint Holdings Co. Ltd., Wacker Chemie AG, Masco Corporation, Huntsman Corporation, RPM International Inc., Axalta Coating Systems, Asian Paints Ltd., Kansai Paint Co. Ltd., Jotun Group, Pidilite Industries Limited, Rust-Oleum Corporation, Berger Paints, Hempel A/S, CTM Coatings

Epoxy Coating Market 2024 Key Insights:

• The epoxy coating market size is expected to see strong growth in the next few years. It will grow to $45.60 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Growing Building And Construction Industry Fuels Growth Of Epoxy Coating Market
• Innovative Coating Technology Enhances Durability And Application Efficiency In Concrete Projects
• Asia-Pacific was the largest region in the epoxy coating market in 2023 and it is expected to be the fastest-growing region in the forecast period

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