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Performance Coating Market (Type - Polyurethane, Silicone, Polyester, Acrylic, and Others; Coating Technology - Solvent-based Coating, Water-based Coating, and Powder-based Coating; Application - Aerospace & Defence, Construction, Automotive & Transportation, Industrial, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : April, 2022

  • Rep Id : CM00897

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on the performance coating market provides in-depth analysis of segments and sub-segments in the global as well as regional performance coating market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional performance coating market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global performance coating market. According to the report, the global performance coating market is projected to grow at a CAGR of 4.82% over the forecast period of 2021-2027.

 

Market Insight

The global performance coating market was valued at USD 78.79 billion in 2021 and is expected to reach USD 104.51 billion in 2027, with a CAGR of 4.82% during the forecast period. Performance Coatings are finishes utilized to reinforce the performance of surfaces. These coatings can resist corrosion, and high temperatures, and has high durability. Performance Coating is a reasonable substitute for providing cosmetically engaging, durable finishes to a product. It is very efficient and eco-friendly and comes in a wide selection of color combinations. It also can be applied in minute-sized components. Performance Coatings are utilized in various sectors such as mining and mineral industry, industrial coatings, powder coatings, automotive and aerospace coatings, wastewater treatment, marine sectors, power, oil and gas, and infrastructure. Performance Coatings provides high quality and have a good record of faster compatibility with the surfaces.

 

The key driver for the global performance coating market is their widespread adoption in a wide range of industrial sectors. The manufacturing sector’s rampant growth in recent years has been vital for the performance coating market, making sectors such as consumer goods, automotive, and aerospace likely to remain key contributors to the market. The enhancements provided by performance coatings have become vital in the manufacturing sector, making it likely to remain a crucial driver for the global performance coating market. Nearly 80% of commercial and domestic paints are water-based performance coatings. Water-based performance coatings, such as those used in indoor house paint and heavy-duty protective coatings are in high demand. In commercial buildings, industrial sites, hotels, schools, and hospitals, acrylic resin performance coatings are used on equipment, machinery, piping, and structural steel. These factors are expected to propel market growth during the forecast period. It can be harmful to breathe the smell of performance coatings they require ventilation all the time. This is expected to restrain the growth of the performance coating market.

 

In terms of region, the Global Performance coating market is segmented into North America, Europe, Asia Pacific, Africa, and the Middle East. North America holds the biggest market share, because of the changing climatic conditions and rising awareness about safety in the region. Increasing investment in Research and Development in this sector by major players will enhance the market growth in the region. Moreover, the rising utilization of coating solutions for defence in the European countries due to their high durability will drive the growth of the European region. The Asia Pacific is expected to dominate the market during the forecast period as Asia is the largest market for coating raw materials. The rising utilization of coating solutions among the developing countries due to rising construction activities will propel the growth of the market in the region.


Performance Coating Market

 

Segment Covered

The report on the global performance coating market covers segments such as type, coating technology, and application. On the basis of type, the sub-markets include polyurethane, silicone, polyester, acrylic, and others. On the basis of coating technology, the sub-markets include solvent-based coating, water-based coating, and powder-based coating. On the basis of application, the sub-markets include aerospace & defence, construction, automotive & transportation, industrial, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as PPG Industries, Inc., AkzoNobel N.V., Axalta Coating Systems, Ltd., Berkshire Hathaway Inc., Hempel A/S, Jotun A/S, Masco Corporation, BASF SE, Valspar Corporation, and Sherwin- Williams Company.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the performance coating market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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