Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.