Global Protective Coatings Market Analysis, Size, Share, Growth Opportunities till 2017 - 2025

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Protective Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Protective Coatings market have been elaborated upon in the research report.

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Besides their traditional use of protecting and decorating metal, plastic, and wood surfaces, protective coatings have found diverse industrial applications. More recently, they are applied on surfaces to enable equipment and machines endure extreme temperatures. Furthermore, protective coatings make these equipment more resistant to corrosion and wear and tear. According to Transparency Market Research (TMR), paints and coatings are often applied on surfaces to make them exhibit “smartness” such as self-cleaning, super hydrophobic water repellency and self-healing paints. This makes protective coatings a material of choice for diverse industrial applications. More recently, the rising demand for improved protection against corrosion, especially in toxic environment has led to the development of protective coatings.

TMR forecasts the global protective coatings market to exhibit impressive growth. It is likely to gain from the rising demand from industries such as building and construction, oil and gas, aerospace, automotive, industrial, marine, and others (power generation, mining, electronics, paper and pulp etc.). According to statistics published by the Society for Protective Coatings (SSPC), the global building and construction market is growing at 4 to 4.5 % between 2016 and 2018. This rise is anticipated to drive the demand for protective coatings in the building and construction industry. Typical applications of protective coatings include power generation equipment, paper and pulp accessories, electrical and electronics appliances etc.

Rising Demand from Building and Construction Sector Makes it a Key End User

In terms of resin type, the protective coatings can be classified into acrylic, epoxy, polyurethane, alkyd, polyesters, others (phenolic, fluoropolymer, nitrocellulose etc.).

In terms of product formulation, the protective coatings can be classified into solvent borne, water borne, powder borne and others (radiation curable etc.).

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In terms of the end-use industry, the protective coatings market is segmented into building and construction, oil and gas, aerospace, automotive, industrial, marine, and others. Building and construction segment accounted-for the highest share of the market in 2016 in terms of volume while oil and gas segment is anticipated for the fastest growth during the forecast period. Against this backdrop, the global protective coatings market will witness lucrative prospects in emerging nations. Rising construction activities and investment in infrastructural development in developing countries will therefore fuel growth prospects for the global market.

Rapid Urbanizations Puts Asia Pacific at Global Market’s fore

In terms of region, the protective coatings market can be classified into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In terms of volume, Asia pacific dominates the market for protective coatings followed by Europe and North America. The increasing investment in building and construction activities owing to rapid industrialization and urbanization, is projected to raise the demand for protective coatings.

Besides this, low cost of production and easy access to cheap skills will create an environment conducive to the growth of the protective coatings market in Asia Pacific. On the flip side political and economic instability at any given point can act as a major restraint for the market in the coming years.

Key players operating in the global protective coatings market include PPG Industries Inc., Arkema Group, Sherwin-Williams Company, Kansai Paint Company Limited, Jotun Group, Akzo Nobel N.V., Axalta Coating Systems, Nippon Paint Holdings Company Limited, Hempel A/S, and Sika AG.

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This release was published on openPR.