San Francisco,8 October
2018: 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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of Protective Coatings
Market @ www.grandviewresearch.com/industry-analysis/protective-coatings-market
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.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has
segmented the global protective coatings market on the basis of resin type,
product, end-use, and region:
Resin Type Outlook (Volume, Kilo Tons; Revenue, USD Million;
2014 - 2025)
·
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
o
U.S.
·
Europe
o
Russia
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
o Saudi Arabia
Access Press Release of
Protective Coatings Market@ www.grandviewresearch.com/press-release/global-protective-coatings-market
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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
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