Protective & Marine Coatings Market Forecast 2017-2023: Evaluating Growth Factors, Segments, and Emerging Trends

According to a new report published by Allied Market Research titled, "Protective & Marine Coatings Market: Global Opportunity Analysis and Industry Forecast, 2017-2023," the protective & marine coatings market was valued at $18,437 million in 2016, and is projected to reach $31,047 million by 2023, growing at a CAGR of 7.7% from 2017 to 2023. Asia-Pacific leads the protective & marine coatings market, in terms of both volume and value, and is expected to continue to lead through 2023.

Increase in customer demand, cost, and efficiency have fueled the market players to boost the R&D in protective & marine coating for marine and biofouling applications.

Request Sample Report @ https://www.alliedmarketresearch.com/request-sample/2146

Marine coatings play a key role in protection from corrosion. They have the ability to protect effectively against oxidization for several years, which depends on technical parameters such as fundamental corrosion protection through galvanic, barrier or inhibition effects, enhanced adhesion properties, higher mechanical strength.

Increased demand for protective & marine coatings is due to the recovery of the global economy and rapid industrialization, and depends on the end-user industries it serves, such as steel, automobiles, furniture, and construction. In addition, increase in stringent system of competition, a unique formulation technology, and product development are expected to stimulate the growth in the global market. However, strict environmental regulations on production and usage of protective coatings are expected to restrict the market growth, but mergers are expected to remain as the key strategy of the players to widen their brand portfolios and expand their market outreach.

Purchase Enquiry Report @https://www.alliedmarketresearch.com/purchase-enquiry/2146

The epoxy resin segment is expected to maintain its dominance in the global market during the forecast period. It held nearly half of the market share in 2016, in terms of value, owing to its high functionality. However, acrylic-based coatings are expected to grow with the highest rate, owing to their inertness and excellent color retention when exposed to outdoor conditions.
In 2016, marine end-use industry dominated the global market, with nearly one-fourth share, in terms of volume. Increase in demand for maintenance & repair for ships/boats is anticipated to drive the market growth.

Key Market Players:
KANSAI PAINTS CO., LTD, THE DOW CHEMICAL COMPANY, BASF SE, 3M CO., PPG INDUSTRIES, INC., NIPPON PAINTS CO. LTD., THE SHERWIN-WILLIAMS COMPANY, HEMPEL A/S, AKZONOBEL N.V., WACKER CHEMIE AG

Key Findings of Protective & Marine Coatings Market:
• In terms of value, acrylic segment is expected to grow at a CAGR of 8.5% during the forecast period.
• In Asia-Pacific, China is estimated to grow at the highest CAGR of 8.6%, in terms of value.
• Construction as an end-use industry occupied around one-fifth of the global market share in 2015, in terms of value.
• Germany accounted for one-fourth of the European protective & marine coatings market in 2016, and is expected to grow at a significant CAGR of 7.7%, in terms of value.

Purchase Enquiry Report @ https://www.alliedmarketresearch.com/checkout-final/d7562d7b977791da61c2b830e1316ce3

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.