New York, Sept. 10, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as growing demand from the automotive industry
The Epoxy Primer Market is expected to reach USD 12.37 Billion by 2026, according to a new report by Reports and Data. The Epoxy Primer Market is anticipated to show robust growth during the forecast period. The key factors driving the market are growing demand for high performance epoxy primers and the rising demand for epoxy primers in several applications which tend to stimulate the market globally.
Epoxy primer is a sealer used to provide an excellent surface finish on applied topcoats. It can be applied to waterproof materials that consequently preserve the bare metal from rusting. Epoxy primers are applied over several metal substrates and are broadly used on metal substrates for various end-use industries such as marine, energy, automotive, infrastructural structures, aviation, and oil & gas. It is a type of liquid coating used on several materials such as carbon steel, stainless steel, fiberglass, galvanized steel, and wood. The principal advantage of epoxy primers is its functional bonding capacity and its superior surface finish. Epoxy primers offer adequate adhesion to metals, as well as works as a proper base for additional undercoat products and topcoats.
The APAC region accounts for the largest share of 29.3% of the market in 2018. This largest share is due to the massive demand for coatings from countries such as India, China, and other Southeast Asian countries. The growth of the automotive, construction, marine, and industrial sectors is also a significant factor anticipated to drive the market in the region.
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Further key findings from the report suggest
- The Epoxy Primer Market is estimated to reach USD 12.37 Billion by 2026, at a CAGR of 4.6% during the forecast period.
- The market is mainly driven by the growing demand for epoxy primers in several applications and increasing awareness to decrease the loss caused by corrosion.
- The solvent-borne technology segment accounts for a larger share of 62.8% of the market in 2018.
- The automotive end user segment accounts for the largest share of 37.3% of the market in 2018.
- It is preferred widely in automotive, as they offer excellent adhesion to basecoat and topcoat layers. They also provide superior resistance to corrosion and solvents.
- The metal substrate is anticipated to witness the highest CAGR of 4.7% during the forecast period.
- As metal substrates, epoxy primers are used extensively for various applications such as marine, automotive, infrastructural structures, energy, aviation, and oil & gas. They are favored for these substrates owing to their outstanding chemicals, adhesion and corrosion, and water-resistant features.
- Various players are developing strategies to mark their presence in the industry.
- For instance, PPG Industries acquired a coating application company, Crown Group. The acquisition helps to serve its customers better in North America.
- PPG Industries has spent about USD 49 million to start a brand-new commercial operation and paints & coatings manufacturing facility in the Lipetsk region of Russia. The development helps it to serve the existing customers in Russia and Eastern Europe better and strengthens its appearance in Europe and Middle East & Africa (EMEA).
- The Key players in the Epoxy Primer Market include PPG Industries, Sherwin-Williams, BASF, AkzoNobel, Kansai Paint, Axalta Coating Systems, Nippon Paint, RPM International, Tikkurila Oyj, and Berger Paints.
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the market on the basis of Technology, Substrate, Application, and region:
Technology Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Solvent-borne
- Waterborne
Substrate Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Metal
- Concrete & Masonry
- Fiberglass
Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Automotive
- Building & Construction
- Marine
- Machinery & Equipment
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Regional Outlook (Volume, Square Meters; and Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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