New York, July 27, 2023 (GLOBE NEWSWIRE) -- The global protective coatings market is projected to reach USD 46.52 billion by 2033, growing at a CAGR of 6.3% from 2023 to 2033. The growth of the market is driven by the increasing demand for protective coatings in various end-use industries, such as construction, oil and gas, aerospace, industrial, marine, automotive, power generation, and mining. the global market for protective coatings is projected to reach US$ 25.24 Billion in 2023.
This research report provides a comprehensive analysis of the global protective coatings market, focusing on the current state, recent trends, growth drivers, challenges, and future prospects. Protective coatings play a vital role in safeguarding infrastructure, equipment, and assets across diverse industries. The report offers valuable insights to industry stakeholders, investors, and decision-makers through in-depth research and data analysis.
Stay Ahead with Market Intelligence Report, Get Free Sample Copy Here@ https://www.persistencemarketresearch.com/samples/3082
Market Introduction:
The protective coatings industry is a critical component of modern infrastructure development and asset protection. This report aims to explore and analyze the global protective coatings market, providing key insights into the factors driving its growth and the challenges faced by the industry. The study delves into various types of protective coatings, their applications across different end-user industries, and regional market dynamics.
Market Overview:
Protective coatings are specialized formulations designed to protect surfaces from environmental and chemical damage, enhancing their durability and aesthetics. The market is driven by the increasing demand for long-lasting and corrosion-resistant solutions across various sectors. In this section, we define protective coatings and highlight their importance in preserving assets and surfaces.
Key Points:
here are some key points from the global protective coatings market:
- The construction industry is the largest end-use industry for protective coatings, accounting for a significant share of the market.
- The resin segment is the largest segment of the global protective coatings market, accounting for a significant share of the market.
- The application segment is the fastest-growing segment of the global protective coatings market.
- North America is the largest market for protective coatings, followed by Europe and Asia Pacific.
- The competitive landscape of the global protective coatings market is fragmented, with a large number of small and medium-sized players.
- Key market trends include increasing demand for protective coatings in various end-use industries, rising demand for high-performance protective coatings, growing focus on sustainable and eco-friendly protective coatings, and technological advancements in the protective coatings industry.
- Key market challenges include high cost of protective coatings, stringent regulations, and competition from substitutes.
- Key market opportunities include growing demand from emerging markets and development of new applications.
If You want to Purchase Specific Insights By Segment/Region/Competitor, Request For Customization@ https://www.persistencemarketresearch.com/request-customization/3082
Competitive Landscape:
This section provides a comprehensive view of the competitive landscape in the global protective coatings market. It includes market share analysis, key strategies adopted by major players, and profiles of prominent companies.
Key Players are The Sherwin-Williams Company, Akzo Nobel N.V., BASF Coatings, Deutsche Amphibolin-Werke, Beckers Group, Tikkurila, Brillux, Cromology, Teknos, Meffert AG Farbwerke, Mankiewicz, IVM Chemicals, Kansai Paints Co. Ltd., The Valspar Corporation, PPG Industries Inc., Arkema Group, Sika AG, Wacker Chemie AG, Hempel A/S, Jotun and more
Recent Developments:
here are some recent developments of companies in the protective coatings market:
- AkzoNobel launched the Interpon Redox range of high-performance corrosion protection coatings in 2019. The product caters to the demand from industries such as cable cars, chemical plants, window frames, and wind turbines.
- PPG Industries introduced the PPG PITTHANE ULTRA LS high-performance polyurethane topcoat in 2021. The product is designed for use in corrosive situations where a low sheen is required to reduce glare and cover surface flaws.
- Sherwin-Williams expanded a solution to its FIRETEX passive fire protection coatings range in 2020. The solution improves applications and lowers costs for onshore assets by allowing the exact coating thickness parameters.
- Hempel launched a new protective coating Hempablade Edge 171, for leading-edge protection (LEP) on wind turbine rotor blades in 2022. The product has the highest rain erosion performance data for a liquid LEP, and some of the lowest dry film thicknesses provide long-term protection against rain erosion and reduce time and costs during application.
If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight @ https://www.persistencemarketresearch.com/checkout/3082
Market Segmentations:
- By Resin type: Epoxy, polyurethane, vinyl ester, polyester, acrylic, inorganic zinc, and others.
- By Technology: Water-borne, solvent-borne, powder, and others.
- By Application: Corrosion protection, waterproofing, fire protection, decorative, and others.
- By End-use industry: Construction, oil and gas, aerospace, industrial, marine, automotive, power generation, and mining.
- By Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Challenges:
- High cost of protective coatings: The cost of protective coatings can be high, which can be a challenge for some end-users. However, the high cost of protective coatings is offset by the long lifespan of these coatings.
- Stringent regulations: There are stringent regulations governing the use of protective coatings in some industries. This can be a challenge for manufacturers, as they need to ensure that their products meet these regulations.
- Competition from substitutes: There are a number of substitutes for protective coatings, such as paints and sealants. This can pose a challenge to the growth of the protective coatings market.
About PMR – Chemicals and Materials
The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on ‘green alternatives’, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – ‘The Way Forward’.
More Trending Research Reports-
- Automotive Die Casting Lubricants Market Size
- Tantalum Carbide Coating For Graphite Market Share
- North America Dry Mix Mortar Industry
- Iron Ore Pellets Market Sale
- Industrial Gases Market Share
- Sodium Alginates Market Sale
- Micronized PTFE Industry
- Ascorbic Acid Market Sale
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
