The market is the largest among all the regional markets for protective coatings. The region accounts for 63% of the global demand in terms of consumption as of 2015. China is the leading in terms of consumption due to an increase in demand from the construction and automotive industries.
Key factors driving this market will be the quality, durability, corrosion and fire protection properties, the upcoming safety regulations and innovative techniques for use along with an increased emphasis on its different types and applications. Protective coatings include the paints, varnishes and lacquers. They are chemical resistant, water resistant, and protect against fire and corrosion. Asia-Pacific is currently the largest market in this segment, followed by Europe and North America.
The Asia-Pacific protective coatings market is segmented by Technology (Water borne, solvent borne, powder and others), by resin type (Alkyd, Acrylic, Epoxy, Polyurethane, Polyester and others), by industry (Infrastructure, Oil & Gas, Petroleum & Refining, Industrial processes) and by geography (China, India, Japan, South Korea and other countries). The key players in the market are Kansai Paint Co. Jotun, Nippon Paints, Valspar Corporation, Sika AG, Asian Paints and Berger Paints.
Governments in emerging economies are increasingly investing on infrastructure development. This will be a major factor driving market growth.
Hike in raw material cost and strict environmental regulations are the major factors impeding market growth.
WHAT THE REPORT OFFERS?
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis for the Global Protective coatings market with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the Global Protective coating market on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.