Global Protective Coatings Market - 2023-2030

Market Overview

The global protective coatings market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of XX% during the forecast period (2023-2030).

A coating is described as a thin layer of solid substance applied to a surface to improve its functional, aesthetic or protective qualities. By restricting the metal's exposure to corrosive environments, protective coatings are an easy technique to reduce corrosion. Tar, pitch, bitumen and plastics are also employed as protective coatings in addition to paint, which is quite popular.

Market Dynamics

The growing infrastructure sector

Due to expanding infrastructure projects, the construction industry is expanding favorably all over the world. To address the needs of various applications, the construction sector needs a variety of protective coating compositions. Ones that are resistant to wear and abrasion, high temperatures, intumescence and water are some of the protective coating materials that are frequently utilized in the sector. Moreover, protective coatings are applied to various construction equipment to ensure operational effectiveness, longevity and resistance to corrosion and wear and tear.

The development of the construction industry, particularly in rising economies like India and China, is being heavily fueled by the country's strong economic growth and growing government initiatives to build the nation's infrastructure. Over the projected period, increasing infrastructure investment in China is anticipated to support the growth of the protective coatings market.

The stringent government regulations

The EPA has launched programs to minimize VOC emissions and other relevant elements that contribute to ozone depletion in accordance with revisions to the Clean Air Act. The National Ambient Air Quality Standards (NAAQS) have been put into effect by the agency and it has the authority to impose sanctions in places where manufacturers are required to adhere to the requirements. Thus, during the course of the forecast period, the expansion of the protective coatings market is anticipated to face challenges from strict regulations by the EPA, OSHA, EU and other regional authorities around the world.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

the global protective coatings market is segmented based on resin, application, product formulation and region.

The use of epoxy resin in structural parts

Epoxy resin is anticipated to grow at the fastest rate over the course of the projected period. Epoxy coatings are applied to structural components of buildings to increase their resiliency, durability and strength. Moreover, they are utilised in adhesives, grouts, crack injection and floor toppings. The substance is also used in household appliances like refrigerators and washing machines to shield them from corrosive gases, humidity and food acids as well as to improve appearance and increase service life.

Low VOC content, strong anti-corrosion performance and increased demands from the aerospace and automotive industries are all contributing to the increase in demand. Epoxy resin consumption has increased as a result of rising demand for shipbuilding and repair, petrochemicals and steel in China.

Geographical Analysis

The presence of leading players in various end-use industries

Throughout the projected period, a sizable market for protective coatings is anticipated in Asia-Pacific. In the local market, China is the dominant nation. China's massive building sector is expanding at an unstoppable rate. China is the largest market for protective coatings due to the fast growth of the construction sector there. Also, the country's oil and gas industry is growing as a result of the presence of two major oil corporations, SINOPEC and CNCP, which is also boosting demand for protective coatings. Due to the rising development activities in the area, Japan and India are also making a sizable contribution to the industry.

Competitive Landscape

The major global players in the market are: PPG Industries, AkzoNobel, The Sherwin-Williams Co., RPM International Inc., Nippon Paint Holdings Co, Axalta Coating Systems, The Valspar Corp., BASF SE, Kansai Paint Co. Ltd. and Arkema.

Why Purchase the Report?

• To visualize the global protective coatings- market segmentation based on resin, application, product formulation and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of protective coatings market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global protective coatings market report would provide approximately 61 tables, 63 figures and 204 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies