Protective Coatings Market Size To Reach $60.30 Billion By 2025 | Grand View Research Inc.

Posted on 2019-08-01 by researchinsights in Chemicals // 0 Comments

San Francisco, United States, 2019-Aug-01 — /EPR Network/ —

The global protective coatings market is expected to witness significant growth over the forecast period owing to the increasing demand for anti-corrosion, thermal resistant, and durable coating formulations in the aerospace and oil & gas industries. The rising demand from key end-use segments such as oil & gas, aerospace, construction, and industrial owing to its superior properties over its counterparts is expected to propel the industry demand over the forecast period. The growing application scope of protective coatings in the aforementioned segments can be attributed to the growing need for low-VOC coating solutions, which offer resistance to wear & tear, high temperatures, and corrosion, while ensuring low maintenance costs.

Construction dominated the industry, globally, in 2015. The growing infrastructure development in emerging countries such as India, China, Brazil, and Russia is expected to drive demand for the product in the construction end-use industry over the projected period.

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U.S. protective coatings market revenue, by resin type, 2014 – 2025 (USD Million)

Further key findings from the report suggest

Globally, epoxy and alkyd product segments are slated to witness significant growth in terms of volume during the forecast period, growing at a CAGR of over 10% during the forecast period. This is mainly attributed to low VOC content, efficiency, and favorable government policies, along with the rising demand from key end-use verticals such as construction and aerospace.
Asia Pacific dominated the market for protective coatings in 2015, with revenue of over USD 18 billion; and is estimated to grow significantly over the coming years owing to the rising demand from high-growth end-use segments such as construction, aerospace, and automotive.
Furthermore, the Asia Pacific region is expected to grow the highest in terms of revenue during the forecast period, slated to grow at a CAGR of over 9%. The region is dominated primarily by China, which is likely to witness growth at a CAGR of nearly 10% during the forecast period. However, rapid infrastructure expansion in India and Indonesia is likely to drive growth over the forecast period.
Key participants in the industry include AkzoNobel NV, PPG Industries, The Sherwin-Williams Co., and Arkema SA, among others. In recent years, key players have turned towards capacity expansion and new product developments to strengthen their positions in the industry globally.

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Resin Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)Grand View Research has segmented the global protective coatings market on the basis of resin type, product, end-use, and region:

Acrylic
Epoxy
Polyurethane
Alkyd
Polyester
Others

Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)

Solvent-borne
Water-borne
Powder-based
Others

End Use Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)

Construction
Oil & Gas
Aerospace
Industrial
Marine
Automotive
Power Generation
Mining
Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

North America
- U.S.
Europe
- Russia
- Germany
Asia Pacific
- China
- India
- Japan
Central & South America
- Brazil
Middle East & Africa
- Saudi Arabia

For Press Release of This Research Report by Grand View Research:

https://www.grandviewresearch.com/press-release/global-protective-coatings-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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