Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| Growth Rate | 5.00% CAGR |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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Asia-Pacific Protective Coatings Market Analysis by Mordor Intelligence
The Asia-Pacific Protective Coatings Market is expected to register a CAGR of greater than 5% during the forecast period.
- Regulations related to the VOCs and rise in prices of raw materials are likely to hinder the Asia-Pacific protective coatings market growth.
- China is expected to dominate the Asia-Pacific protective coatings market and is also expected to witness the fastest CAGR during the forecast period.
Asia-Pacific Protective Coatings Market Trends and Insights
Rising Demand from Infrastructure Segment
- Infrastructure accounts for the largest share of the market and is also estimated to be the fastest growing. Rails, bridges, and roads constitute major segments of the infrastructure. With the increase in population, expansions in infrastructure have become an inevitable part of socio-economic development.
- Protective coatings are used in overhead structures, like flyovers and bridges, particularly in refurbishment situations, in order to improve the durability and to delay the replacement in structures. They are used to reduce the damage on the concrete surfaces and to stop or significantly reduce the rate of steel reinforcement corrosion.
- Asia-Pacific is the fastest growing region in infrastructure sector across the world. In countries such as China, and India, the government investments and initiatives are boosting the growth of the sector in the region.
- The Indian government has announced its plans to construct and upgrade six freight corridors throughout the country, by 2020. The Indonesian government has set a target of adding 3,258 km to the existing railway network (2,159 km intercity and 1,099 km urban), requiring an investment of USD 23.9 billion between 2015 and 2019. The Pakistan Ministry of Railways has been preparing a railway strategic plan (RSP), to operationalize its targets, which would provide a long-term framework for the development of the country's railway sector. This plan aims to increase the railway's share in transportation, from 4% to 20%, by 2025.
- The aforementioned factors have been driving the Asia-Pacific protective coatings market, in the recent times.
China to Dominate the Market
- China continues to progress along a positive economic trajectory, with private consumption driving a higher share of growth than government spending and investment. Despite bureaucratic complexities and insufficient protections for intellectual property, most business condition indicators in China have improved and key end markets important to the Group remain attractive.
- The infrastructure segment is estimated to hold the largest share of the market in the country. China is the world leader in infrastructure investments and has an array of railroad expansions planned during the forecast period.
- China's 13th Five Year Plan started in 2016 as it was an important year for the country's engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year.
- The program is expected to involve over USD 1 trillion in investments up to 2049, largely in infrastructure development for ports, roads, railways, and airports, and power plants and telecommunications networks.
- The overland 'Belt' links China to Central and South Asia and onward to Europe. The maritime 'Road' links China to the nations of South East Asia, the Gulf countries, East and North Africa, and on to Europe. Six overland economic corridors have been identified, including the China-Mongolia-Russia Economic Corridor, the New Eurasian Land Bridge, the China-Central Asia-West Asia Economic Corridor, the China-Indochina Peninsula Economic Corridor, the China-Pakistan Economic Corridor, and the Bangladesh-China-India-Myanmar Economic Corridor.
- The aforementioned factors have been driving the Asia-Pacific protective coatings market, in the recent times.
Competitive Landscape
The Asia-Pacific protective coatings market is partially fragmented. Key players in the market include Akzo Nobel N.V., NIPSEA GROUP, The Sherwin Williams Company, PPG Industries, Inc., and Hempel A/S, among others.
Asia-Pacific Protective Coatings Industry Leaders
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Akzo Nobel N.V.
-
NIPSEA GROUP
-
The Sherwin Williams Company
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PPG Industries, Inc.
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Hempel A/S
- *Disclaimer: Major Players sorted in no particular order
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Asia-Pacific Protective Coatings Market Report Scope
The Asia-Pacific protective coatings market report includes:
Resin Type
| Epoxy |
| Polyester |
| Polyurethane |
| Vinyl Ester |
| Other Resin Types |
Technology
| Water-borne |
| Solvent-borne |
| Powder |
| Other Technologies |
End-user Industry
| Oil and Gas |
| Mining |
| Power |
| Infrastructure |
| Other End-user Industries |
Geography
| China |
| India |
| Japan |
| South Korea |
| ASEAN Countries |
| Rest of Asia-Pacific |
| Resin Type | Epoxy |
| Polyester | |
| Polyurethane | |
| Vinyl Ester | |
| Other Resin Types | |
| Technology | Water-borne |
| Solvent-borne | |
| Powder | |
| Other Technologies | |
| End-user Industry | Oil and Gas |
| Mining | |
| Power | |
| Infrastructure | |
| Other End-user Industries | |
| Geography | China |
| India | |
| Japan | |
| South Korea | |
| ASEAN Countries | |
| Rest of Asia-Pacific |
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Key Questions Answered in the Report
What is the current Asia-Pacific Protective Coatings Market size?
The Asia-Pacific Protective Coatings Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)
Who are the key players in Asia-Pacific Protective Coatings Market?
Akzo Nobel N.V., NIPSEA GROUP, The Sherwin Williams Company, PPG Industries, Inc. and Hempel A/S are the major companies operating in the Asia-Pacific Protective Coatings Market.
What years does this Asia-Pacific Protective Coatings Market cover?
The report covers the Asia-Pacific Protective Coatings Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Protective Coatings Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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