Authored By: Sarah
15 Jul 2024

 Protective Coatings Market Size to grow by USD 22405 million between 2024-2028

According to a research report “ Protective Coatings Market” by Technology (Solvent-borne, Waterborne, Powder coatings) End-user (Infrastructure and construction, Oil and gas, Automotive, Aerospace, Others) Resin Type (Epoxy, Alkyd, Polyurethane, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 22405 million, at a CAGR of about 10.87% during the forecast period. Water-borne protective coatings, characterized by water as the primary solvent, provide numerous advantages for various industries such as aerospace, oil and gas, marine, power generation, mining, and automotive. These coatings offer superior resistance to heat, abrasion, and superior adhesion. Moreover, they emit fewer Volatile Organic Compounds (VOC) and Hazardous Air Pollutants (HAP), making them less toxic and flammable compared to solvent-borne coatings. The environmental impact of water-borne coatings is significantly reduced as they release fewer organic compounds. Additionally, water-borne coatings are cost-effective due to the absence of additives, thinners, or hardeners, and the lower quantity required to cover a given surface area.

Browse market data tables, figures, and in-depth TOC on “Protective Coatings Market” by Technology (Solvent-borne, Waterborne, Powder coatings) End-user (Infrastructure and construction, Oil and gas, Automotive, Aerospace, Others) Resin Type (Epoxy, Alkyd, Polyurethane, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Technology, the Solvent-borne segment is projected to dominate the market size in 2024

The protective coatings market encompasses a broad spectrum of products designed to shield various surfaces from environmental hazards and wear and tear. These coatings enhance the durability and longevity of infrastructure, machinery, and consumer goods. Key market drivers include increasing industrialization, growing demand for sustainable solutions, and the need for improved corrosion resistance. Companies are investing in research and development to produce advanced, high-performance coatings that cater to diverse industries and applications.

By End-user, Infrastructure and construction  segment is expected to hold the largest market size for the year 2024

The Protective Coatings Market encompasses a broad spectrum of products utilized for enhancing the durability, corrosion resistance, and aesthetic appeal of various industrial assets. These coatings safeguard against environmental factors, ensuring extended service life and reduced maintenance costs for businesses. Key market drivers include increasing industrialization, growing demand for eco-friendly solutions, and advancements in coating technologies.

APAC is forecasted to hold the largest market size by region in 2024

The protective coatings market encompasses a broad spectrum of products utilized to shield various surfaces from environmental hazards and wear. These coatings enhance durability, corrosion resistance, and provide aesthetic value to infrastructure, transportation, and industrial applications. Market growth is driven by increasing demand for sustainable and high-performance coatings, coupled with expanding end-use industries and rising infrastructure investments.

The Protective Coatings Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Akzo Nobel NV
  • Al Gurg Paints LLC
  • Asian Paints Ltd.
  • Axalta Coating Systems Ltd.
  • Berger Paints India Ltd
  • Chitra Insultec Pvt. Ltd.
  • Dow Chemical Co.
  • Hempel AS
  • Henkel AG and Co. KGaA
  • Jotun AS
  • Kansai Paint Co. Ltd.
  • Nippon Paint Holdings Co. Ltd.
  • NIPSEA Group
  • Plasma paints
  • PPG Industries Inc.
  • RPM International Inc.
  • Sika AG
  • The Chemours Co.
  • The Sherwin Williams Co.
  • Wacker Chemie AG
.

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Research Analysis Overview

The protective coatings market is witnessing significant growth, driven by key players such as PPG Industries and Akzo Nobel NV. The mining sector is a major consumer of protective coatings due to the harsh operating conditions. Structural polyurethane coatings and powder coatings are popular choices for mining applications due to their durability and resistance to abrasion. However, increasing regulations on VOC emissions from the Clean Air Act and OSHA are driving the demand for low-emission coatings. The Epoxy segment is expected to dominate the market due to its superior adhesion properties. The power generation sector is another significant end-user of protective coatings. Hempel, a leading coatings provider, offers a range of protective coatings for power plants, including epoxies and alkyds. Moreover, the trend towards sustainable and eco-friendly coatings is gaining momentum. Green Seal, an independent certification organization, offers certification for low-emission and sustainable coatings. Other types of protective coatings include polyurethane, acrylics, and epoxies. The IMF forecasts a positive outlook for the global economy, which is expected to boost the demand for protective coatings in various industries. Overall, the protective coatings market is poised for steady growth in the coming years.

Market Research Overview

The Protective Coatings Market is experiencing significant growth due to increasing demand from various sectors, including mining, power generation, hydrocarbon processing industries, and offshore. Key players in the market include PPG Industries, Jotun, and Hempel. In the mining sector, structural polyurethane coatings and powder coatings are popular choices due to their durability and resistance to harsh conditions. The Epoxy segment holds a substantial share in the market, driven by its excellent adhesion properties and chemical resistance. However, the growing concerns over VOC emissions have led to a shift towards waterborne and solvent-borne coatings. OSHA and the Clean Air Act have set stringent regulations for VOC emissions, pushing companies to adopt eco-friendly solutions. Energy sectors, such as power generation, are also significant consumers of protective coatings. Epoxies, Alkyd, Polyurethane, Acrylics, and other resins are widely used in these applications. Companies like PPG Industries, Jotun, and Hempel are investing in research and development to produce coatings that meet the evolving needs of the market. Green Seal certified coatings are gaining popularity due to their low VOC emissions and eco-friendly nature. IMF projects that the protective coatings market will continue to grow at a steady pace in the coming years.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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