The global protective coatings market size is expected to
reach USD 50.86 billion by 2025, expanding at a CAGR of 7.7% over the forecast
period, according to a new study published by Grand View Research, Inc. Rising
demand from aerospace industry is expected to fuel the growth.
Protective coatings are widely used in
aerospace application such as in exterior topcoats, fuel tanks, anti-chafe,
wings, and others. They provide protection to equipment and assemblies against
erosion, corrosion, chemical attack, and abrasion, and thereby help extend the
life and efficiency of components. The demand for aerospace and defense
equipment is anticipated to witness significant growth across the globe over
the forecast period. The resurgence of global security threats coupled with
growth in the defense budget of key nations are expected to drive the aerospace
industry in the forthcoming years.
Based on resin segment, epoxy is anticipated
to expand at the highest growth rate over the forecast period. Epoxy resin offer high flexibility and abrasion and
corrosion resistance, thus, paving their way for use as protective coating in
various end use industries such as automotive, construction, oil and gas,
mining, power generation, marine, and others.
Water borne segment is projected to witness
substantial growth during the forecast period. It is widely used in household
applications and confined and poorly ventilated spaces. They have low Volatile
Organic Compound (VOC) content, thus, making them more eco-friendly compared to
their counterparts. This coating is used where solvent-borne coatings are
anticipated to react with the substrate. Waterborne coating is an ideal primer
on account of its properties including excellent thermal and corrosion
resistance.
Based on end user, industrial segment is
projected to grow significantly over the next seven years. Industrial machinery
is exposed to high temperatures, corrosive fluids, and gases that can
deteriorate it. Protective coating is used for heat exchangers, boilers,
transformers, containers, and material handling equipment to protect them from
heat and humidity. They provide the equipment with improved impact and abrasion
resistance due to their impermeability.
For full research report on Protective
Coatings Market visit here: https://www.grandviewresearch.com/industry-analysis/protective-coatings-market
Further key
findings from the report suggest:
- Asia Pacific was the dominant regional segment
in 2018, driven by ascending demand from end users such as aerospace,
automotive, mining, power generation, industrial, and oil and gas
- China is the fastest growing country in Asia
Pacific on account of the growing construction industry
- Epoxy segment is potentially fueling the
protective coatings market growth owing to its rising demand in various
end-use industries
- Market players engage in various strategic
initiatives to gain greater market share. For instance, in February 2017,
Akzo Nobel N.V. invested USD 14.14 million in the development of an
R&D facility in Felling, U.K. The new facility is engaged in the
development of new protective coatings for energy, mining, infrastructure,
and oil and gas industries
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/protective-coatings-market/request/rs1
Grand
View Research has segmented the global protective coatings market on the basis
of resin, formulation, end user, and region:
Protective
Coatings Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Acrylic
- Epoxy
- Polyurethane
- Alkyd
- Polyester
- Others
Protective
Coatings Formulation Outlook (Volume, Kilotons; Revenue, USD Million, 2014 -
2025)
- Solvent Borne
- Water Borne
- Powder Based
- Others
Protective
Coatings End User Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Construction
- Oil & Gas
- Aerospace
- Industrial
- Marine
- Automotive
- Power Generation
- Mining
- Others
Protective
Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Asia Pacific
- China
- India
- Japan
- Australia
- Central & South
America
- Brazil
- Argentina
- Middle East &
Africa
- Saudi Arabia
- UAE
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, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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