Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Epoxy Primer Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The latest global market report analyzing the ever-evolving dynamics of the epoxy primer market has been released, highlighting significant growth and new trends reshaping this segment. Epoxy primers, known for their robust adhesion and corrosion protection, serve an essential role in various industries, from automotive to aerospace.
The report reveals the epoxy primer market's substantial growth, soaring from $10.22 billion in 2023 to an anticipated $10.95 billion in 2024, marking a CAGR of 7.1%. This expansion is attributed to the market's integral role in corrosion prevention and its wide-reaching applications across multiple sectors.
Further projections show the market size broadening to $14.58 billion by 2028, propelled by a steady CAGR of 7.4%. This robust trajectory is likely influenced by technological advancements, emerging market penetration, and increased demand for sustainable and high-performance coatings.
Key Market Drivers and Trends
- Technological Innovations: Advancements in formulation and application technologies ensure epoxy primers meet evolving industrial requirements.
- Automotive Industry Growth: With vehicle production scaling globally, the demand for durable and reliable coatings has upticked significantly.
- Expansion in Aerospace Sector: The aerospace industry's growth has led to an increased need for protective coatings, fortifying the epoxy primer market stature.
- Sustainable Practices: A notable shift towards eco-friendly waterborne epoxy primers reflects the sustainability trend within the market.
Strides in the global automotive sector have significantly influenced market growth, with an impressive number of vehicles produced indicating the heightened need for corrosion-resistant primers. Parallelly, the aerospace industry's expansion, with major players delivering a substantial number of aircrafts yearly, underscores the critical role epoxy primers play in this sphere.
Strategic moves and advancements are consistently shaping the competitive landscape. For instance, innovative product launches that enhance corrosion protection and meet regulatory standards are paving the way for new applications and market opportunities.
Geographically, Asia-Pacific took the lead in the epoxy primer market in 2023 and is projected to continue its ascendancy during the coming forecast period. The thorough report covers various regions including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, detailing the market's performance and projection in each.
The comprehensive market research presents a granular analysis of the epoxy primer industry's landscape, encompassing an array of substrates, technologies, and sector-specific challenges and prospects. This in-depth perspective ensures stakeholders are well-informed for strategic decision-making and future planning.
The global market report is a valuable asset for anyone involved in the epoxy primer industry, providing a strategic overview of the market's past performance, current standing, and projected trends, fostering an environment for informed, data-driven decision making.
The full analysis presented in the report offers a pivotal view of the market that will steer industry participants towards growth and innovation, cementing their position in an increasingly competitive global market.
A selection of companies mentioned in this report includes
- PPG Industries Inc.
- Akzo Nobel N.V.
- Sherwin-Williams
- Axalta Coating Systems LLC
- BASF SE
- Berger Paints India Limited
- Chugoku Marine Paints Ltd.
- Hempel A/S
- Jotun A/S
- Kansai Paint Co. Ltd.
- Nippon Paint Co. Ltd.
- RPM International Inc.
- Tikkurila Oyj
- Asian Paints Ltd.
- Benjamin Moore & Co.
- Carboline Company
- Cloverdale Paint Inc.
- Diamond Vogel Paints
- Dunn-Edwards Corporation
- H.B. Fuller Company
- International Paint Ltd.
- J.W. Ostendorf GmbH & Co. KG
- KCC Corporation
- Krylon Products Group
- Mascoat
- NPA Coatings Inc.
- Rust-Oleum Corporation
- Tnemec Company Inc.
- Valspar Corporation
For more information about this report visit https://www.researchandmarkets.com/r/euejei
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