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CHEMICALS AND ADVANCED MATERIALS

Protective Coating Market Segmentation By Resin Type (Acrylic, Epoxy, Polyurethane, Alkyd, Polyesters and Other); By End Use Industries (Infrastructure and Construction, Oil and Gas, Aerospace, Automotive, Marine and Others) - Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Protective Coating Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Introduction to Protective Coating Market

The protective coating protect the surfaces from various external factors such as fire, rust, abrasion and others. A protective coating is applied as a layer on the material surface in order to inhibit corrosion. The protective coatings offer protection against environmental conditions such as extreme weather exposure, marine conditions, atmospheric pollutants and a wide range of chemicals.

The protective coatings are used for protection of steel structures. Protective coatings are applied for its fire-retardant and anticorrosion properties on metal infrastructures such as bridges, rails and other. The protective coatings are widely used for various end use industries such as infrastructure, oil and gas, construction, aerospace, marine, automotive and others.

Market Size and Forecast

The global protective coating market is observing robust growth on account of increasing infrastructure and construction, thereby driving the demand of protective coatings in the market. The advancement in automotive industry coupled with the increasing demand for its protection from various external factors is projected to drive the protective coating market.

demand for infrastructure in Asia

According to the World Bank, 39% of the infrastructural requirement is in Asia-Pacific region which is expected to drive the protective coatings market in the region during the forecast period. Protective coating market is anticipated to record a CAGR of 10% over the forecast period. The protective coating market is expected to reach a value of USD 22 billion at the end of the forecast period.CLICK TO DOWNLOAD SAMPLE

protective coating market Graph

Growth Drivers

Rising Demand for Infrastructure and Construction Industry

High economic development coupled with rising disposable income in various countries is increasing the construction and infrastructural development. This in turn drive the market growth of protective coatings during the forecast period. Additionally, various favorable government laws for construction industry is expected to fuel the protective coatings market.

Widespread application in Oil and Gas Industry

Increasing advancement in oil and gas industry is driving the protective coatings market during the forecast period. The corrosion and various chemicals can hamper the industrial processes in oil and gas industry. This increases the application of protective coatings on various machines and instruments in order to protect from deterioration.

Restraints

High Cost

The high cost of raw materials used for manufacturing of protective coatings is expected to restrict the growth of market in the forthcoming years. Additionally, the usage of protective coatings emit various toxic gases.

Market Segmentation

Our-in depth analysis of the global protective coating market includes the following segments:

By Resin Type

  • Acrylic
  • Epoxy
  • Polyurethane
  • Alkyd
  • Polyesters
  • Others

By End Use Industries

  • Infrastructure and Construction
  • Automotive
  • Aerospace
  • Marine
  • Oil and Gas
  • Others

By Region

On the basis of regional analysis, global protective coating market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Asia Pacific is expected to be the leading region for protective coatings market during the forecast period. In Asia Pacific region, China is expected to be the dominant region on the account of construction and infrastructural growth in the country. Additionally, the increasing infrastructure development coupled with the rising application of protective coatings in countries such as China, India and japan drives the growth of protective coatings market during the forecast period.

North America is anticipated to grow at a highest rate during the forecast period on the back of high application in aerospace and marine industry. Additionally, the rapidly expanding construction industry in the region is also driving the market growth of protective coatings during the forecast period.

Europe is witnessing significant growth in the protective coatings market. This is on the account of increasing demand for protective coating in countries such as Germany and U.K.

Global protective coating market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Key Players

  • Kansai Paint Company Limited
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Wacker Chemie AG
  • AkzoNobel NV
  • The Sherwin-Williams Co.
  • PPG Industries
  • Axalta Coating Systems
  • Arkema SA
  • Nippon Paint Holdings Company Limited
  • BASF
  • RPM International

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