“Protective coatings market projected to witness CAGR of 4.0%”
The protective coatings market size is estimated to reach USD 21.47 billion by 2021, registering a CAGR of 4.0% between 2016 and 2021. Excellent adhesion and resistance to abrasion, impact, and chemical are the key properties of protective coatings, which make it the preferred material for various applications.
“Polyesters—the fastest-growing type of protective coatings”
The polyester protective coatings segment is estimated to witness the highest growth in the overall protective coatings market. The rising demands for protective coatings with excellent chemical and corrosion resistant properties drive the market for this segment. Polyester protective coatings are used in the marine industry, as it offers exceptional chemical, salt, and abrasion resistance. Polyester protective coatings offer good dielectric properties with excellent humidity and are cost-effective.
“Rising demand in Asia-Pacific—the major growth driver of the global protective coatings market“
In 2015, Asia-Pacific dominated the protective coatings market due to rapid growth of infrastructure & construction and automotive industries. The Asia-Pacific region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from China and India. China is the largest market for protective coatings globally with major demand from the infrastructure & construction and marine industries. Growing innovation & development and rising demand in the industrial sector for novel and improved products are directly affecting the rise in the use of protective coatings. High growth and innovation, along with industry consolidations, are expected to lead to a prospective future for the industry in the region.
Extensive primary interviews were conducted to determine and verify the market sizes for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 37%, Tier 2 – 50%, and Others – 13%
- By Designation - C level – 50%, Director level – 31%, and Others – 19%
- By Region - North America – 31%, Europe – 38%, Asia-Pacific – 25%, and RoW- 6%
The key companies profiled in this market research report are PPG Industries (U.S.), RPM International (U.S.), Axalta Coatings Systems (U.S.), The Sherwin-Williams Company Limited (U.S.), AkzoNobel NV (Netherlands), Arkema SA (France) Valspar (U.S.), Wacker Chemie AG (Germany), Sika AG (Switzerland), and Hempel A/S (Denmark).
Reasons to Buy The Report
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the protective coatings market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across various verticals and regions.
- The report will help stakeholders understand the dynamics of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, new product developments, and mergers & acquisitions.