The global protective coatings market is expected to witness
significant growth over the forecast period owing to the increasing demand for
anti-corrosion, thermal resistant, and durable coating formulations in the
aerospace and oil & gas industries. The rising demand from key end-use
segments such as oil & gas, aerospace, construction, and industrial owing
to its superior properties over its counterparts is expected to propel the
industry demand over the forecast period. The growing application scope of
protective coatings in the aforementioned segments can be attributed to the
growing need for low-VOC coating solutions, which offer resistance to wear
& tear, high temperatures, and corrosion, while ensuring low maintenance
costs.
Construction dominated the industry, globally, in 2015. The
growing infrastructure development in emerging countries such as India, China,
Brazil, and Russia is expected to drive demand for the product in the
construction end-use industry over the projected period.
Browse full research report on Protective Coatings Market: http://www.grandviewresearch.com/industry-analysis/protective-coatings-market
Further key findings from the report suggest
- Globally,
epoxy and alkyd product segments are slated to witness significant growth
in terms of volume during the forecast period, growing at a CAGR of over
10% during the forecast period. This is mainly attributed to low VOC
content, efficiency, and favorable government policies, along with the
rising demand from key end-use verticals such as construction and
aerospace.
- Asia
Pacific dominated the market for protective coatings in 2015, with revenue
of over USD 18 billion; and is estimated to grow significantly over the
coming years owing to the rising demand from high-growth end-use segments
such as construction, aerospace, and automotive.
- Furthermore,
the Asia Pacific region is expected to grow the highest in terms of
revenue during the forecast period, slated to grow at a CAGR of over 9%.
The region is dominated primarily by China, which is likely to witness
growth at a CAGR of nearly 10% during the forecast period. However, rapid
infrastructure expansion in India and Indonesia is likely to drive growth
over the forecast period.
- Key
participants in the industry include AkzoNobel NV, PPG Industries, The
Sherwin-Williams Co., and Arkema SA, among others. In recent years, key
players have turned towards capacity expansion and new product
developments to strengthen their positions in the industry globally.
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Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the global protective
coatings market on the basis of resin type, product, end-use, and region:
Resin Type Outlook (Volume, Kilo Tons; Revenue, USD
Million; 2014 - 2025)
- Acrylic
- Epoxy
- Polyurethane
- Alkyd
- Polyester
- Others
Product Outlook (Volume, Kilo Tons; Revenue, USD Million;
2014 - 2025)
- Solvent-borne
- Water-borne
- Powder-based
- Others
End Use Outlook (Volume, Kilo Tons; Revenue, USD Million;
2014 - 2025)
- Construction
- Oil
& Gas
- Aerospace
- Industrial
- Marine
- Automotive
- Power
Generation
- Mining
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- Russia
- Germany
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Middle
East & Africa
- Saudi
Arabia
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View Research: http://www.grandviewresearch.com/press-release/global-protective-coatings-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
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to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
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