Protective Coatings Market Segmentation:
End user Segment Analysis
The infrastructure and construction segment is poised to capture 26.5% of the global market share by 2035. The smart cities and robust infrastructure modernization projects are set to fuel the sales of protective coatings in the years ahead. NEOM: The City of Tomorrow, Grand Paris Express, HS2 U.K., The Regional Environmental Sewer Conveyance Upgrade Program (RESCU), and Brenner Base Tunnel are some of the largest infrastructure projects transforming construction globally. This is directly accelerating the production and commercialization of corrosion-resistant and fire-resistant coatings.
Resin Type Segment Analysis
The epoxy segment is projected to capture the largest market share throughout the forecast period. The pipelines, offshore platforms, bridges, and industrial flooring are some of the key application areas of epoxy resins. In the marine industry, epoxy-based anti-corrosive primers are also the foundation for multi-layer protective systems. According to The Observatory of Economic Complexity (OEC), the global trade of epoxide resins totaled USD 6.49 billion. The widespread application of epoxy resins is significantly contributing to their sales growth.
Formation Technology Segment Analysis
The solvent-based coatings are expected to be the top choice in the market, due to their superior performance and versatility. These solvent-based formulations are highly durable, with corrosion & chemical resistance, which accelerates their application in the oil & gas, infrastructure, and marine sectors. Also, their ability to offer longer shelf life and faster drying times contributes to their increasing consumption.
Our in-depth analysis of the global market includes the following segments:
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