Global Epoxy Coating Market, By Technology (Waterborne, Solvent Borne, Powder-Based), Application (Construction, Adhesives, Transportation, Paints and Coatings, General Industrial, Electrical and Electronics, Others) – Industry Trends and Forecast to 2030.
Epoxy Coating Market Analysis and Size
The rising demand for epoxy coating from the paints and coatings industry due to improved durability and superior toughness is expected to gain traction over the forecast period. Rising regional government emphasis on decreasing VOC content in epoxy-based paints and coatings in developed economies such as the United States and Europe is predicted to drive industry demand.
Data Bridge Market Research analyses that the Global Epoxy Coating Market which was USD 3,361.98 million in 2022, would rocket up to USD 5,545.68 million by 2030, and is expected to undergo a CAGR of 6.2% during the forecast period of 2023 to 2030. “Waterborne” dominates the type segment of the Global Epoxy Coating Market part owing to the increasing need for better durability and performance. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Epoxy Coating Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Tons, Pricing in USD
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Segments Covered
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Technology (Waterborne, Solvent Borne, Powder-Based), Application (Construction, Adhesives, Transportation, Paints and Coatings, General Industrial, Electrical and Electronics, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa
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Market Players Covered
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BASF SE (Germany), AkzoNobel N.V. (Netherlands), PPG Industries (U.S.), Valspar (U.S.), The Sherwin-Williams Company (US), Axalta Coating Systems LLC (US), Berger Paints India Limited (India), Nippon(India) Paint Company Limited (India), KANSAI PAINT CO., LTD (Japan)., RPM International (US), Tikkurila OYJ (Finland), Endura Manufacturing Company Ltd (Canada), Kansai Paint Co., Ltd.(Japan), TAO-CHUGOKU CO., LTD. (Thailand), Thermal Chem Corporation (US), Asian Paints (India), MBCC Group (Germany)
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Market Opportunities
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Market Definition
Epoxy resins are a type of synthetic resins used in the manufacturing of plastics and adhesives. The selection of the epoxies depends on the types of humidity, environmental exposure, substrate, temperature, surface preparation, induction time, application time, and others. Epoxy resins deliver an external coating called epoxy coating that aids as superb resistance to corrosive chemicals, UV light, and heat. Furthermore, they offer outstanding adhesion to surfaces of fibers, metals, glass, and some other materials.
Global Epoxy Coating Market Dynamics
Drivers
- Rise in demand due to large application
Epoxy coatings are particularly useful for metal, floors, and other surfaces that require a protective covering that dries quickly. Epoxy coatings can be utilized as epoxy floor paints in flooring applications such as commercial or industrial. It is also used over concrete floors in the use of industrial and commercial applications such as in commercial and retail stores, airplane hangars, airplanes hangars, industrial plants, airplane hangars, hospitals, showrooms, manufacturing plants, garages, etc.
- Rapid urbanization and high investment
Rapid urbanization and high investment in the construction region in developing countries like India is the main contributing aspect to the epoxy surface coatings market trends that are expected to drive the epoxy coating market growth rate.
Opportunities
- Technology advancement
The epoxy coating technology is mainly related to the regulations which have related to VOC emission. Compared to older technologies, epoxies coatings are capable of dropping overall environmental impact, which will act as market drivers and further boost beneficial opportunities for the market's growth rate.
- Rising interest in self-cleaning super-hydrophobic surface
Super-hydrophobicity on surfaces is the combination of chemical modifications and surface texturing. Super hydrophobic nanocomposites can be applied to create a super hydrophobic coating, using polymers such as epoxy to coat the highly accessible surfaces and normally touched surfaces. These augmented epoxy surface coatings applications are thus expected to increase the scope of the overall industry share in the upcoming years.
Restraints/Challenges
- Availability of substitute
However, an extensive range of coatings is available as an epoxy coating alternative. For example, polyurethane (PU) coatings have improved wear, high cross-link density, abrasion, and impact resistance properties than epoxy coatings that, make them the best option for coating applications in electrical and electronics, transportation, construction, automotive, and other end-use segments. Thus, the availability of substitutes is anticipated to obstruct the growth of the market during the forecast period.
Recent Developments
- In April 2021, In Qatar, Sika increased its concrete admixture production capacity and began producing epoxy resins, which are significant components in high-quality floor coverings and adhesives.
- In September 2020, PPG revealed PPG Flooring coatings with a self-levelling epoxy basecoat and concrete epoxy primer to supply optimum performance based on their specific work environment.
Global Epoxy Coating Market Scope
The epoxy coating market is segmented on the basis of technology and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Waterborne
- Solvent Borne
- Powder-Based
Application
- Construction
- Adhesives
- Transportation
- Paints and Coatings
- General Industrial
- Electrical and Electronics
- Others
Global Epoxy Coating Market Regional Analysis/Insights
The epoxy coating market is analysed and market size insights and trends are provided by country, technology and application as referenced above.
The countries covered in the epoxy coating market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
Asia-Pacific is expected to dominate the epoxy coating market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the rising demand for epoxy coating in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Epoxy Coating Market Share Analysis
The epoxy coating market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the epoxy coating market.
Some of the major players operating in the epoxy coating market are:
- BASF SE (Germany)
- AkzoNobel N.V. (Netherlands)
- PPG Industries (U.S.)
- Valspar (U.S.)
- The Sherwin-Williams Company (US)
- Axalta Coating Systems LLC (US)
- Berger Paints India Limited (India)
- Nippon (India) Paint Company Limited (India)
- KANSAI PAINT CO., LTD (Japan)
- RPM International (US)
- Tikkurila OYJ (Finland)
- Endura Manufacturing Company Ltd (Canada)
- Kansai Paint Co., Ltd. (Japan)
- TAO-CHUGOKU CO., LTD. (Thailand)
- Thermal Chem Corporation (US)
- Asian Paints (India)
- MBCC Group (Germany)
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