A recent report published by Infinium Global Research on protective coatings market provides in-depth analysis of segments and sub-segments in the global as well as regional protective coatings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional protective coatings 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 protective coatings market. According to the report, the global protective coatings market is projected to grow at a CAGR of 5.0% over the forecast period of 2019-2025.
Protective coatings are used to protect metals from corrosion. They are also used for decorative purposes. In addition to corrosion protection and decoration, they import some special properties such as electrical properties, hardness, thermally insulating and oxidation-resistance to the protected surface. Their ability to protect effectively against corrosion over a number of years depend on a long line of technical parameters including fundamental corrosion protection through the galvanic, barrier or inhibition effects, as well as good adhesion properties, mechanical strength, and resistance against cracking.
High-performance anti-corrosion coatings are used to protect tanks, pipes, processing equipment, metal, and concrete structures from deterioration caused by exposure to a corrosive environment. The growing infrastructure and construction industry is the major driver for the protective coatings market. The protective coatings have an intensive application in the construction industry as a protective agent and corrosion-resistant for metal and plastic structures. Further, the major player in this market is concentrating on research and development activities that help to drive the growth of the market in the coming years. Furthermore, growing demand for high-performance coatings and environmentally friendly protective coatings are driving the demand of the market. However, strict environmental regulations on the production and usage of protective coatings are hindering the growth of the market. Moreover, the growing demand for the maintenance of existing substrates provides a growth opportunity for the protective coatings market.
The Asia-Pacific is the largest region for the protective coatings market owing to a growing demand for new infrastructure, increased investments to upgrade aging infrastructure and development of major rail and road projects. China and South Korea are the major contributors to the market owing to the significant growth in construction, infrastructure and oil and gas industry in these regions. North America is the second-largest region for the protective coatings market owing to increasing commercial construction activities in this region.
The report on global protective coatings market covers segments such as resin type, product formulation, and end-use industry. On the basis of resin type, the sub-markets include epoxy, polyester, polyurethane, and vinyl ester. On the basis of product formulation, the sub-markets include water-borne, solvent-borne, and powder-borne. On the basis of end-use industry, the sub-markets include oil and gas, mining, power, infrastructure, and others.
The report provides profiles of the companies in the market such as Wacker Chemie AG, Axalta Coating Systems, AkzoNobel NV, Sherwin-Williams Co, Arkema SA, PPG Industries, RPM International, BASF, Nippon paints, and Dow Corning.
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 protective coatings market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. 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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