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.
 |
| U.S. protective coatings market revenue, by resin type, 2014 - 2025 (USD Million) |
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.
In depth research report
on 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.
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
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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, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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