Rockville, Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global performance coatings market is estimated at US$ 95.9 billion in 2022 and is expected to expand at a CAGR of 5.3% during the forecast years of 2022-2032.
Performance coating is generally applied to the surface of any product and may be for decorative or functional purposes. These coatings are applied to provide various performance improvements to the applied product.
These benefits may include gloss & luster protection, temperature resistance, UV absorbance, anti-reflection, sealing & waterproofing, corrosion resistance, anti-fouling, and so on.
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Further, water-borne formulations in the performance coatings changed as the trend due to the global environmental regulations towards Hazardous chemicals. The aesthetic performance of polyurethane and fluoropolymer has also changed as the global trend for interior and exterior coatings. This, in turn, manages to bolster the mid-term market's growth.
Moreover, numerous key players have taken up initiatives to come up with newer products to replace existing PTFE coating and provide improved benefits such as reduced spalling, anti-spatter properties, and other performance enhancements such as harsh temperature & weather resistance as well as offer long-term durability.
Key Takeaways from Market Study
- The global performance coatings market is projected to expand at an impressive CAGR of 5.3% and be valued at US$ 160.7 billion by 2032
- The market witnessed a 4.7% CAGR for the period of 2017-2021
- Under resin, the epoxy resin in performance coatings dominates the market and is valued at US$ 35.5 billion in 2022
- APAC dominated the market with a 45.9% market share in 2021
- Europe is estimated to hold a market share of 21.2% in the year 2022, and North America is anticipated to hold a market share of 19.6% in the year 2022
- China has a commanding position in the market and is expected to have a market share of 15.5% in 2022
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Eminent Market Player’s Key Stratagems
Key players such as BASF, Sherwin-Williams, & Nippon Paint Holdings are approaching ahead with a strategic mix of both organic and inorganic strategies such as strategic capacity expansions in target markets. A multitude of product launches and numerous acquisitions in the competing market to reduce competition, improve its existing global presence and diversify its product portfolio to offer customized solutions as per the client’s requirements.
Prominent Key Players
- PPG Industries
- Akzo Nobel N.V.
- Axalta Coating Systems Ltd
- Nippon Paint Holding Co. Ltd.
- BASF SE
- The Valspar Corporation
- Jotun A/S
Segmentation of Performance Coatings Industry Research
- By Resin:
- Polyurethane
- Acrylic
- Polyester
- Epoxy
- Others
- By Formulation Type:
- Water-borne
- Solvent-borne
- By End-User:
- Transportation
- Consumer Goods
- Buildings and Infrastructure
- Industrial
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global performance coatings market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of resin (polyurethane, acrylic, polyester, epoxy, and others), formulation type (water-borne and solvent-borne), end-user (transportation, consumer goods, buildings and infrastructure, and industrial), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Table of Content ( Included No. of Figures – 93 & No. of Tables- 112 )
1. Performance Coatings Market - Executive Summary
2. Market Overview
2.1. Market Definition and Introduction
2.2. Market Taxonomy/ Research Scope
3. Market Background and Foundation Data
3.1. Green Building Trends
3.2. Investment Feasibility Matrix
3.3. Product Lifecycle
3.4. Opportunities for enterprises
3.5. Global Real Estate Health Monitor
3.6. Global Aerospace Industry
3.7. Regulatory Compliances w.r.t. VOC
3.8. Global Automotive Industry
3.9. Performance Coatings: Apparent Production & Consumption Analysis
3.9.1. Production Capacity (Tons)
3.9.1.1. By Key Regions
3.9.1.2. By Key Companies
3.9.2. Consumption Statistics
3.9.3. Apparent Trade Analysis
3.10. Performance Coatings Market Opportunity Assessment
3.10.1. Total Available Market (US$ million)
3.10.2. Serviceable Addressable Market (US$ million)
3.10.3. Serviceable Obtainable Market (US$ million)
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