WASHINGTON, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Global Protective Coatings Market is valued at USD 12.5 Billion in 2021 and is projected to reach a value of USD 18.8 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 7.1% over the forecast period 2022-2028.
Market Overview
According to Vantage Market Research, some of the key factors anticipated accelerating the protective coatings market growth over the forecast period is driven by the rising infrastructure projects economy. This leads to spenders, the need to extend machinery and equipment life, rising demand for superior surface treatments, growing population, rapid population growth, economic expansion, and scientific advance.
We forecast that the epoxy category in the protective coatings market sales will account for more than 25% of total sales by 2028 because of the increasing demand for epoxy coatings in developing countries due to accelerated industrialization and higher infrastructure construction costs. Due to its increased durability and resistance, epoxy coating is also being used in more applications, which will help the market develop.
Get Access to the In-depth Free Sample Report @ https://www.vantagemarketresearch.com/protective-coatings-market-1972/request-sample
Market Dynamics
Rising Construction & Building Activities in Developing Nations to Boost Market Growth
The fundamental objective of protective coatings is to shield structures against toxins, dust, fungi, rust, temperature, and other hazards that could jeopardize their stability and functionality. Insulation materials assist in preventing water leaks in addition to providing waterproofing solutions. Due to surface coatings that serve as a protective barrier, structures such as bridges, walls, floors, floors, wood finishes, and exterior and interior walls may all function in difficult circumstances and circumstances.
Growing Utilisation in Marine Industry to Drive the Market Growth
Due to the corrosive properties of seawater, the marine industry is susceptible to harm to boats, ships, and docks. These industries extensively use waterproofing coats and joint and crack filler coats for maintenance. These protective coatings are typically applied on maritime equipment made of steel, aluminum, fiberglass, and other platforms. Tankers, cargo ships, tug boats, sea resources, motorized launches, and hydrofoils employ them.
Top Players in the Global Protective Coatings Market
- Akzo Nobel N.V, (Netherlands)
- PPG Industries Inc, (US)
- The Sherwin-Williams Company, (US)
- The Valspar Corporation, (Minnesota)
- Jotun, (Norway)
- Hempel Group, (Denmark)
- Kansai Paints Co. Ltd, (Japan)
For Additional Information on Protective Coatings Market Players and Detail List, Download a Report PDF Brochure
Top Trends in Global Protective Coatings Market
- One trend Vantage Market Research (VMR) expects to see in the Protective Coatings industry is the growing adoption of solvent-based technology. It was significantly quicker to apply paint, let it cure, and produce an even, long-lasting paint coat when organic solvents were used. The volatile organic compounds (VOCs), which have an unpleasant odor and are undesirable for the environment, are released as the solvents evaporate. Cladding with a solvent base is beneficial in humid environments.
- Another trend that VMR predicts will continue in the protective coatings industry is the increasing demand for surface preparation. Successful protective coatings require excellent surface preparation. Due to the nature of hot-dip Galvan (HDG) steel, surface preparation is more difficult than with another substrate. Some of the most important considerations when preparing the surfaces of Typically mounted steel before coating
Limited Time Offer | Buy this Premium Research Report with Exclusive Discount and Immediate Delivery@ https://www.vantagemarketresearch.com/buy-now/protective-coatings-market-1972/0
Recent Developments in the Global Protective Coatings Market
- To better meet the demands of the North American Coatings Market, The Polynt Group stated in June 2022 that it would be increasing the manufacturing of its coating resins. The company is growing so that it can provide more advanced resin technologies such as alkyd, polyester, copolymer, emulsion, and urethane to the paint and coatings sector, which is seeing rapid expansion.
- With the intention of expanding its footprint in the African market, AkzoNobel announced in June 2022 that it would be acquiring Kansai Paint's paints and coatings division.
Top Report Findings
- Based on technology, most of the protective coatings market's revenue is controlled by the solvent-based category. Because more end-use sectors, like construction, automotive, oil & gas, and aerospace, are using solvent-borne protective coatings. Additionally, the potential of the solvent-borne protective coating to stop corrosion, aid in maintaining sturdiness, and enhance the functionality of materials and products will support the segment's expansion.
- Based on resin type, the epoxy category controls most of the protective coatings market's revenue. Epoxy coatings are applied to structural components of buildings to increase their resiliency, durability, and strength. Additionally, they are utilized in bonds, putty, crack injecting, and floor toppings.
- Based on end users, most of the protective coatings market's revenue is controlled by the water & wastewater management category. There has been a sharp increase in the need for water treatment to ensure effective use. Since wastewater contains dangerous compounds, including fecal matter, oils, food scraps, chemicals, cleaners, and others that require medication before letting off to the planet, wastewater treatment has risen in popularity across the globe to prevent pollution to the environment.
- Based on application, most of the protective coatings market's revenue is controlled by the civil building & infrastructure category. A significant issue in the infrastructure sector is the surface corrosion of uncovered structures. Owing to cover degradation and surface corrosion rate, surface degradation may cause structural deficiencies.
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Protective Coatings Market Forecast Report (2022-2028).
Epoxy Category in Protective Coatings Market to Generate Over 25% Revenue
Protective Coatings are an expensive investment. Vantage Market Research has analyzed the market for Protective Coatings to understand its current state and potential future growth factors for better understanding, based on the resin type, the protective coatings market is divided into epoxy, acrylic, alkyd, polyurethane, zinc and others.
During the forecast period, the market for protective coatings is anticipated to experience the highest CAGR for the epoxy category. Epoxy coatings are prized for their ability to withstand high temperatures. Another advantage of epoxy is its speedy drying time, which considerably small stops while the coating cures. Additionally, robust to chemical hazards, all forms of leaks and superficial scratches are epoxy. As a result, the coating won't deteriorate and will require upkeep.
On the other hand, the polyurethane category is estimated to grow significantly over the forecast period. The chemistry of polyurethane enables the creation of products in odd shapes without sacrificing quality, and it also improves consumer and industrial goods by including relaxation and convenience value.
Asia Pacific Region in Protective Coatings Market to Generate More 40% Revenue
Asia Pacific region dominates the market for protective coatings throughout the projection period. Because of an increasing population, a quickening of industrialization and urbanization, a greater need for building infrastructure, and a rise in construction activity.
Read Full Report: https://www.vantagemarketresearch.com/industry-report/protective-coatings-market-1972
Global Protective Coatings Market Segmentation
By Technology
- Solvent based
- Water based
- Powder coatings and others
By Resin type:
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Zinc
- Others
By End-Use Industry:
- Offshore Structures/Oil&gas-Exploration, Production & Transmission
- Petrochemical - Refineries & chemical processing
- Marine
- Cargo containers
- Power generation
- Water & wastewater treatment
- Civil building & Infrastructure
- Food & beverages
- Others
By Application:
- Abrasion Resistance
- Chemical Resistance
- Fire Protection
- Heat Resistance
- Corrosion Resistance
- Pipe Coatings
- Tank Linings
- Others
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 12.5 Billion |
| Revenue Forecast by 2028 | USD 18.8 Billion |
| CAGR | 7.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Akzo Nobel N.V., PPG Industries Inc., The Sherwin-Williams Company, The Valspar Corporation, Jotun, Hempel Group, Kansai Paints Co. Ltd. |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
Browse More Reports from Vantage Library:
- Sulfuric Acid Market - Global Industry Assessment & Forecast
- Biopesticides Market - Global Industry Assessment & Forecast
- Refrigeration Oil Market - Global Industry Assessment & Forecast
- Maleic Anhydride Market - Global Industry Assessment & Forecast
- Heat Meter Market - Global Industry Assessment & Forecast
- Top Companies in Protective Coatings Market by Size, Share, Historical and Future Data & CAGR
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website:
https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
