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.
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
Request a Sample Copy of the Report @
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.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment