in Energy & Petroleum Industry Segmentation By Coating (Polyurethane Coating, Epoxy Coating, Acrylic Coating, Alkyd Coating, Smart Coating and Others); By Coating Layer (Single Layer and Multi-Layer); By Technology (Water Based, Solvent Based and Powder); By Application (Anti-Corrosion, Anti-Icing, Anti-Fouling and Others) – Industry Demand Analysis & Opportunity Outlook 2028
Buy NowGlobal Coatings Market In Energy & Petrochemical Industry
1. Introduction
· Product Definition
· Market Overview
· Segmentation
2. Assumptions And Acronyms
3. Research Methodology
3.1. Research Objective
3.2. Secondary Research
3.3. Primary Research
· Manufacturer Front
· Supplier/Distributor Front
· End User Front
3.4. Market Size Estimation
4. Executive Summary - Global Coatings Market In Energy And Petrochemical Industry
5. Value Chain Analysis
· Raw Material Procurement
· Manufacturing
· Distribution & Supply Landscape
· End-User
6. Regulatory Landscape
7. Raw Material Outlook
8. Industry Risk Analysis
· Demand Risk Analysis
· Supply Risk Analysis
9. Comparison Analysis Of Traditional Coating And Smart Coating Technology W.R.T Application
· Anti-Corrosion
· Anti-Icing
· Anti-Fouling
· Self-Cleaning
· Self-Healing
10. Comparative Analysis
· Comparative Analysis Of Coatings Market In Energy Industry W.R.T Other Industries
· Comparative Analysis Of Coatings Market In Petrochemical Industry W.R.T Other Industries
11. Evaluation On The Impact Of Covid-19 On The Global Market
· Effect On The Overall Market
· Business Impact W.R.T Revenue Of The Companies
· Effect On The Supply Chain
· Effect On Pricing
· Market Analysis In 2020 (Quarter Wise) W.R.T Covid-19 (Usd Million)
12. Key Market Opportunities
13. Analysis Of Market Dynamics
13.1. Drivers
13.2. Restraints
13.3. Trends
14. Global Coatings Market In Energy And Petrochemical Industry Outlook
14.1. Market Size And Forecast, 2019-2028f
· By Value (Usd Million)
· Market Overview
14.2. Global Coatings Market In Energy And Petrochemical Industry Segmentation, 2019-2028f
14.2.1. By Coating Type
O Polyurethane Coating, Epoxy Coating, Acrylic Coating, Alkyd Coating, Smart Coating, And Others, 2019-2028f (Usd Million)
14.2.2. By Coating Layer
O Single Layer And Multi-Layer, 2019-2028f (Usd Million)
14.2.3. By Technology
O Water Based, Solvent Based, And Powder, 2019-2028f (Usd Million)
14.2.4. By Application
Ø Market Share Analysis
Ø Cross Analysis Of Technology W.R.T. Application Of Coatings
O Anti-Corrosion, Anti-Icing, Anti-Fouling, And Others, 2019-2028f (Usd Million)
14.2.5. By Region
O North America, Europe, Asia Pacific, Latin America, And Middle East And Africa, 2019-2028f (Usd Million)
15. North America Coatings Market In Energy And Petrochemical Industry Outlook
15.1. Market Overview
15.2. Key Macro-Economic Indicators
15.3. List Of Key Players Across The Value Chain
15.4. By Market Segmentation
· By Coating Type
O Polyurethane Coating, Epoxy Coating, Acrylic Coating, Alkyd Coating, Smart Coating, And Others, 2019-2028f (Usd Million)
· By Coating Layer
O Single Layer And Multi-Layer, 2019-2028f (Usd Million)
· By Technology
O Water Based, Solvent Based, And Powder, 2019-2028f (Usd Million)
· By Application
O Anti-Corrosion, Anti-Icing, Anti-Fouling, And Others, 2019-2028f (Usd Million)
· By Country
O Us And Canada, 2019-2028f (Usd Million)
16. Europe Coatings Market In Energy And Petrochemical Industry Outlook
16.1. Market Overview
16.2. Key Macro-Economic Indicators
16.3. List Of Key Players Across The Value Chain
16.4. By Market Segmentation
· By Coating Type
O Polyurethane Coating, Epoxy Coating, Acrylic Coating, Alkyd Coating, Smart Coating, And Others, 2019-2028f (Usd Million)
· By Coating Layer
O Single Layer And Multi-Layer, 2019-2028f (Usd Million)
· By Technology
O Water Based, Solvent Based, And Powder, 2019-2028f (Usd Million)
· By Application
O Anti-Corrosion, Anti-Icing, Anti-Fouling, And Others, 2019-2028f (Usd Million)
· By Country
O Germany, Uk, France, Italy, Spain, Russia, And Rest Of Europe, 2019-2028f (Usd Million)
17. Asia Pacific Coatings Market In Energy And Petrochemical Industry Outlook
17.1. Market Overview
17.2. Key Macro-Economic Indicators
17.3. List Of Key Players Across The Value Chain
17.4. By Market Segmentation
· By Coating Type
O Polyurethane Coating, Epoxy Coating, Acrylic Coating, Alkyd Coating, Smart Coating, And Others, 2019-2028f (Usd Million)
· By Coating Layer
O Single Layer And Multi-Layer, 2019-2028f (Usd Million)
· By Technology
O Water Based, Solvent Based, And Powder, 2019-2028f (Usd Million)
· By Application
O Anti-Corrosion, Anti-Icing, Anti-Fouling, And Others, 2019-2028f (Usd Million)
· By Country
O China, India, Japan, Indonesia, South Korea, Australia, And Rest Of Asia Pacific, 2019-2028f (Usd Million)
18. Latin America Coatings Market In Energy And Petrochemical Industry Outlook
18.1. Market Overview
18.2. Key Macro-Economic Indicators
18.3. List Of Key Players Across The Value Chain
18.4. By Market Segmentation
· By Coating Type
O Polyurethane Coating, Epoxy Coating, Acrylic Coating, Alkyd Coating, Smart Coating, And Others, 2019-2028f (Usd Million)
· By Coating Layer
O Single Layer And Multi-Layer, 2019-2028f (Usd Million)
· By Technology
O Water Based, Solvent Based, And Powder, 2019-2028f (Usd Million)
· By Application
O Anti-Corrosion, Anti-Icing, Anti-Fouling, And Others, 2019-2028f (Usd Million)
· By Country
O Brazil, Mexico, And Rest Of Latin America, 2019-2028f (Usd Million)
19. Middle East And Africa Coatings Market In Energy And Petrochemical Industry Outlook
19.1. Market Overview
19.2. Key Macro-Economic Indicators
19.3. List Of Key Players Across The Value Chain
19.4. By Market Segmentation
· By Coating Type
O Polyurethane Coating, Epoxy Coating, Acrylic Coating, Alkyd Coating, Smart Coating, And Others, 2019-2028f (Usd Million)
· By Coating Layer
O Single Layer And Multi-Layer, 2019-2028f (Usd Million)
· By Technology
O Water Based, Solvent Based, And Powder, 2019-2028f (Usd Million)
· By Application
O Anti-Corrosion, Anti-Icing, Anti-Fouling, And Others, 2019-2028f (Usd Million)
· By Country
O Israel, Uae, Saudi Arabia, South Africa, And Rest Of Middle East Africa, 2019-2028f (Usd Million)
20. Competitive Insights
20.1. Competitive Trends
20.2. Market Share Analysis
20.3. Benchmarking Of The Competitors
20.4. List Of The Region-Wise Key Manufacturers
20.5. Company Profiles
◊ Dupont
· Business Overview
· Products Offered
· Key Clients & Partners
· Financials
· Business Strategy
· Mergers & Acquisitions
· Recent News & Developments
· Key Performance Indicators
· Geograpical Presence ◊
◊ PPG INDUSTRIES, INC.
◊ ANCATT
◊ AXALTA COATINGS SYSTEMS
◊ RPM INTERNATIONAL INC.
◊ BASF SE
◊ WACKER CHEMIE AG
◊ HEMPEL A/S
◊ 3M
21. ANALYST’S REVIEW
By Coating
On the basis of coating, the market is segmented into polyurethane coating, epoxy coating, acrylic coating, alkyd coating, smart coating and others. Among these segments, the epoxy coating type occupies the largest market share of the coatings market across the globe. Moreover, this segment is anticipated to witness the highest growth at a CAGR of 4.8% over the forecast period on the back of its environment-friendly characteristics.
By Coating Layer
Based on the coating layer, the market is segmented into single layer and multi-layer coating. Out of these, the multi-layer coating segment of coatings market in petrochemical and energy industry reached USD 6,682.3 Million in 2019 and is expected grow further at a CAGR of 5.2% over the forecast period. The growth of this segment is primarily driven by the advantage of multi-layer coating of providing better mechanical damage-resistant compared with single layer coating.
By Technology
The market for coatings is segmented by technology into water based, solvent based and powder. Out of these segments, the segment for solvent-based coating occupies the largest market share of the coatings market across the globe. Moreover, this segment is anticipated to flourish at a CAGR of 4.9%, over the forecast period, which can be attributed to its eco-friendly characteristics and increasing government regulations.
By Application
On the basis of application, the market is segmented into anti-corrosion, anti-icing, anti-fouling and others. The anti-corrosion application of global coatings market in petrochemical and energy industry is expected to expand at a CAGR of 5.3% over the forecast period. The anti-corrosion segment is projected to reach to a valuation of USD 9,209.8 Million by the end of 2028 on account of increasing demand for anti-corrosion coating in petrochemical and energy industry.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The coatings market in petrochemical and energy industry in Asia Pacific is growing significantly on account of increasing developments pertaining to the exploration of unconventional oil resources across the region. The Asia Pacific market is anticipated to grow at the highest CAGR of 5.9%, during the forecast period i.e. 2021-2028. Asia Pacific coatings market in petrochemical and energy industry is projected to reach a valuation of USD 6,534.1 million by the end of 2028. This growth is estimated to be driven by the overall economic growth of the region that are associated with various business opportunities.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Growth Indicators
The growing number of technological advancements pertaining to the development of advanced coating materials which are used for energy infrastructure along with increasing adoption of innovative surfacing technologies for the application of such coatings are anticipated to greatly impact the market growth. Recently, the use of protective coatings in the petrochemical industry, which enhances the equipment performance by reducing the wear and tear of different parts, is becoming increasingly popular. These wear and corrosion resistant coatings significantly enhance the field operations. Lastly, increasing R&D investments by various prominent market players for the advancement of such protective corrosion-resistant coatings are also anticipated to propel the market growth.
Barriers
Stringent regulations pertaining to the content of volatile organic compound (VOC) in the coatings is a major limiting factor anticipated to impact the market growth over the upcoming years. The VOCs are categorized as air pollutants and thus can have a severe environmental impact along with a deteriorating impact on the health of the exposed individuals. Moreover, the price volatility of crude oil in tandem with various resins, which are used as raw materials for the manufacturing of coatings for the energy sector, is expected to hamper the market growth in the forthcoming years.
Some of the affluent industry leaders in the global coatings market in energy & petroleum industry are Dupont, PPG Industries, Inc., Ancatt, Axalta Coatings Systems, RPM International Systems, BASF SE, Wacker Chemie AG, Hempela A/S and 3M.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing research and development and the growing energy infrastructure, along with rising demand for protection against corrosion, are some growth driving factors in the market.
Ans: The market is anticipated to attain a CAGR of 5% over the forecast period, i.e. 2021-2028.
Ans: Increasing developments pertaining to the exploration of unconventional oil resources across the region is a factor which will provide more business opportunities for growth of market in future.
Ans: The major players in the market are Dupont, PPG Industries, Inc., Ancatt, Axalta Coatings Systems, RPM International Systems, BASF SE, Wacker Chemie AG, Hempela A/S and 3M.
Ans: Company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
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