Market Analysis: Global Protective Coatings Market
Global Protective Coatings Market is expected to rise from its initial estimated value of USD 15.81 billion in 2018, to a projected value of USD 25.54 billion by 2026, registering a CAGR of 6.18% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing need for easily applicable products and innovative and effective product offerings.
Market Definition: Global Protective Coatings Market
Protective coatings are layering materials applied on various substrate surfaces so that the substrates can be prevented from corrosion and various harmful factors such as corrosion, water resistance, fungal, and various other factors. They are usually applied as an addition to the surfaces and bring more of a functional characteristic instead of an aesthetic appeal.
- Rise in the levels of urbanization and industrialization which has resulted in the construction and establishment of various buildings; this factor is expected to act as a driver for the market growth
- Product innovations and advancements resulting in new product launches; this factor is expected to act as a driver for the market growth
- Presence of strict regulations in place for the emissions caused by the production of these coatings; this factor is expected to act as a restraint to the market growth
- High and volatile nature of the cost of raw materials used in the production of these coatings are expected to restrain the market growth
Segmentation: Global Protective Coatings Market
- By Resin
- Vinyl Esters
- By Formulation
- By End-User
- Oil & Gas
- Infrastructure & Construction
- Power Generation
- Pulp & Paper
- Electronics & Electrical
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In October 2018, Axalta Coating Systems, LLC announced the launch of “Corroless”, a brand new product portfolio focused on the demand of corrosion and chemical resistant coatings solutions from the industrial market. The new portfolio consist a number of different materials that are focused on the prevention of chemicals harms and corrosion effects on the substrates they are applied to.
- In August 2017, Induron Protective Coatings announced the launch of “Indurethane Monarch HS”. The product formulated from the latest urethane technology and is compatible with a number of spraying equipments. The product available in a variety of colour is evidence of the company expanding beyond its existing product offerings.
- In December 2016, Akzo Nobel N.V. announced that they had completed the acquisition of BASF SE’s industrial coatings business division. This acquisition will help Akzo Nobel N.V. in better servicing and providing customised solutions to the various industrial applications.
Global protective coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of protective coatings market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors present in the market are Wacker Chemie AG; PPG Industries, Inc.; Akzo Nobel N.V.; The Sherwin-Williams Company; Arkema; Sika AG; RPM International Inc.; Axalta Coating Systems, LLC; HEMPEL A/S; BASF SE; Beckers Group; Induron Protective Coatings; H.B. Fuller Company; Jotun; Kansai Paint Co.,Ltd. and Nippon Paint Holdings Co., Ltd.
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved