New York, United States , Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Global 2K Protective Coatings Market Size to grow from USD 9.14 Billion in 2022 to USD 12.50 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period.
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A 2K protective coating, also known as a two-component protective coating, is a type of coating system composed of two components: a base or resin component and a hardener or curing agent. These two elements are mixed together right before application to begin a chemical reaction that develops a durable, protective covering. 2K protective coatings offer several advantages over single-component coatings. The chemical reaction that occurs when mixing enables a quicker cure and a more durable covering. The outcome is a tougher, more durable coating that can withstand adverse environmental conditions like UV radiation, chemicals, abrasion, and corrosion. These coatings are widely used to protect surfaces such as metal, concrete, wood, and plastic in a number of ways.
Due to a number of causes, including increased industrialization, expanding infrastructure, and increased awareness of the importance of corrosion protection, the market for 2K protective coatings has been growing rapidly in recent years. Environmental regulations, advancements in coating technology, and consumer desire for durable coatings have all contributed to the industry's expansion. In general, the market for 2K protective coatings offers bright growth prospects. The need for high-performance coatings that provide enhanced defence against corrosion, abrasion, UV radiation, and other environmental conditions is expected to increase, which will lead to market growth. The construction and automotive industries, in particular, are significant users of 2k coatings because of the necessity for long-lasting and aesthetically pleasing surfaces.
The 2K protective coatings market must overcome a number of challenges in order to develop and prosper. The process of applying 2k coatings is typically more difficult when compared to coatings comprised of a single component. Effective mixing and application of two components requires skilled manpower and sophisticated equipment. This complexity can make apps more difficult for users to use and more expensive, perhaps limiting uptake in specific industries. In some applications, there may be 2k protective coating alternatives in the form of alternate coating methods or materials. For instance, water-based coatings and powder coatings have become increasingly popular due to their decreased VOC content and reduced environmental impact.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on, "Global 2K Protective Coatings Market Size, Share, and COVID-19 Impact, By Resin (Polyurethane, Acrylic, Polyester, Epoxy, Alkyd); By End-Use (Automotive, Construction, Oil & Gas, Aerospace, Industrial, Power Generation, Marine, Others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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Resin Insights
Epoxy segment is dominating the market over the forecast period
On the basis of resin, the global 2K Protective Coatings Market is segmented into Polyurethane, Acrylic, Polyester, Epoxy, Alkyd. Among these, epoxy segment is dominating the market with the largest market share over the forecast period. Epoxy resins are extensively used in the 2k protective coatings market because of their good adhesion, chemical resistance, mechanical properties, and durability. Epoxy resins continue to be a well-liked solution for many applications despite the market's significant expansion for 2K protective coatings. Infrastructure, industrial equipment, automotive, aerospace, and maritime are just a few industries that use epoxy-based 2k coatings. By avoiding corrosion, wear, and degradation on metal, concrete, and other surfaces, they are utilised to increase the life and performance of the coated substrates. The rapid expansion of industrial activity, particularly in emerging nations, has driven the demand for protective coatings, particularly epoxy-based 2K coatings.
End Use Insights
Construction segment accounted the largest market share over the forecast period
Based on the end use, the global 2K Protective Coatings Market is segmented into Automotive, Construction, Oil & Gas, Aerospace, Industrial, Power Generation, Marine, Others. Among these, construction segment accounted the largest market share over the forecast period. The construction segment is growing as a result of the building of new highways, bridges, airports, trains, and structures. Protective coatings are essential in this sector to increase the durability and toughness of structures, stop corrosion, and provide resistance to environmental factors like UV radiation, moisture, and chemicals. Rapid urbanisation, particularly in developing countries, is driving the demand for additional residences and companies. Protective coatings are necessary to keep these structures' aesthetic value while protecting their surfaces from corrosive agents, erosive forces, and damage.
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Regional Insights
Asia Pacific segment is dominating the market with the largest market share over the forecast period.
Among all other regions, Asia Pacific region is dominating the market with the largest market share over the forecast period. Asia Pacific is leading the market with the biggest market share over the forecast period among all other regions. Because of the expanding middle class in countries like China and India, the need for durable and aesthetically beautiful products has surged. This propensity is driving the market for protective coatings in many different applications, including as consumer electronics, appliances, furniture, and ornamental goods. Because of the expanding middle class in countries like China and India, the need for durable and aesthetically beautiful products has surged. This propensity is driving the market for protective coatings in many different applications, including as consumer electronics, appliances, furniture, and ornamental goods.
North America is witnessing the fastest market growth over the forecast period. North America has a strong industrial basis, with sectors like manufacturing, oil & gas, transportation, aerospace, and automotive. These industries require high-performance protective coatings to shield their equipment from corrosion, wear, and the environment. Demand for 2k protective coatings is also increasing as a result of regional measures to continuously enhance the infrastructure. The upkeep and renovation of current infrastructure and structures is what drives the protective coatings market in North America. Structures can be protected against deterioration and have their useful lives extended by applying 2k coatings. Renovation initiatives in the commercial, residential, and institutional building sectors are causing the industry to expand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Akzo Nobel N.V, PPG Industries, Inc, The Sherwin-Williams Company, Jotun, Hempel A/S, Chugoku Marine Paints, Ltd, Kansai Paint Co.,Ltd, Sika AG, RPM International Inc, Valspar, Vitro, Dunn-Edwards Corporation, Tikkurila, Teknos Group, BASF SE, Henkel Adhesives Technologies India Private Limited, Benjamin Moore & Co, Kelly-Moore Paints, Berger Paints, Cloverdale Paint Inc., Duluxgroup Ltd, NOROO Paint & Coatings co.,Ltd., PARKER HANNIFIN CORP and Among Others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global 2K Protective Coatings Market based on the below-mentioned segments:
2K Protective Coatings Market, Resin Analysis
- Polyurethane
- Acrylic
- Polyester
- Epoxy
- Alkyd
2K Protective Coatings Market, End User Analysis
- Automotive
- Construction
- Oil & Gas
- Aerospace
- Industrial
- Power Generation
- Marine
- Others
2K Protective Coatings Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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