Protective coatings are layering materials applied on
various substrate surfaces so that the substrates can be prevented from
corrosion and various harmful factors such as corrosion, water resistance,
fungal, and various other factors. They are usually applied as an addition to
the surfaces and bring more of a functional characteristic instead of an
aesthetic appeal. Top Competitors of Market are: Wacker Chemie AG; PPG
Industries, Inc.; Akzo Nobel N.V.; The Sherwin-Williams Company; Arkema; Sika
AG; RPM International Inc.; Axalta Coating Systems, LLC; HEMPEL A/S; BASF SE;
Beckers Group; Induron Protective Coatings; H.B. Fuller Company; Jotun; Kansai
Paint Co.,Ltd. and Nippon Paint Holdings Co., Ltd.
Global
Protective Coatings Market is expected to rise from its initial
estimated value of USD 15.81 billion in 2018, to a projected value of USD 25.54
billion by 2026, registering a CAGR of 6.18% in the forecast period of
2019-2026. This rise in market value can be attributed to the growing need for
easily applicable products and innovative and effective product offerings.
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Segmentation: Global
Protective Coatings Market
Global Protective Coatings Market By Resin (Acrylic, Epoxy,
Polyester, Polyurethane, Alkyd, Vinyl Esters, Others)
Formulation (Powder-Based, UV-Cured, Water-Borne,
Solvent-Borne)
End-User (Oil & Gas, Automotive, Infrastructure &
Construction, Aerospace, Marine, Industrial, Mining, Power Generation, Others)
Geography (North America, South America, Europe,
Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Key Developments in
the Market:
·
In October 2018, Axalta Coating Systems, LLC announced
the launch of “Corroless”, a brand new product portfolio focused on the demand
of corrosion and chemical resistant coatings solutions from the industrial
market. The new portfolio consist a number of different materials that are
focused on the prevention of chemicals harms and corrosion effects on the
substrates they are applied to.
·
In August 2017, Induron Protective Coatings
announced the launch of “Indurethane Monarch HS”. The product formulated from
the latest urethane technology and is compatible with a number of spraying
equipments. The product available in a variety of colour is evidence of the
company expanding beyond its existing product offerings.
·
In December 2016, Akzo Nobel N.V. announced that
they had completed the acquisition of BASF SE’s industrial coatings business
division. This acquisition will help Akzo Nobel N.V. in better servicing and
providing customised solutions to the various industrial applications.
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Market Drivers:
·
Rise in the levels of urbanization and industrialization
which has resulted in the construction and establishment of various buildings;
this factor is expected to act as a driver for the market growth
·
Product innovations and advancements resulting
in new product launches; this factor is expected to act as a driver for the
market growth
Market Restraints:
·
Presence of strict regulations in place for the
emissions caused by the production of these coatings; this factor is expected
to act as a restraint to the market growth
·
High and volatile nature of the cost of raw
materials used in the production of these coatings are expected to restrain the
market growth
Competitive Analysis:
Global protective coatings market is highly fragmented and
the major players have used various strategies such as new product launches,
expansions, agreements, joint ventures, partnerships, acquisitions, and others
to increase their footprints in this market. The report includes market shares
of protective coatings market for global, Europe, North America, Asia-Pacific,
South America and Middle East & Africa.
Key Insights in the
report:
·
Complete and distinct analysis of the market
drivers and restraints
·
Key market players involved in this industry
·
Detailed analysis of the market segmentation
·
Competitive analysis of the key players involved
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