Epoxy Coatings Market – Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Technology (Water-based, Solvent-based, and Powder-based), By End-user Industry (Building and Construction, Automotive, Transportation, Industrial, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

Greater Than 4 %

Major Players:

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Market Overview

The market for epoxy coatings is expected to expand at a CAGR of more than 4% during the forecast period. The major factors driving the market studied are growth in the powder-based epoxy market, due to the absence of VOC, and increasing demand for water-borne epoxy coatings. However, stringent regulations on VOC emissions are expected to hinder the growth of the market studied.

  • The introduction of epoxies with minimal or no VOC emissions is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the world with the largest consumption.

 

Scope of the Report

The epoxy coatings market report includes:

By Technology
Water-based
Solvent-based
Powder-based
By End-user Industry
Building and Construction
Automotive
Transportation
Industrial
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Building and Construction Industry

  • Epoxy coatings help in the development of several properties in coatings, which includes strength, durability, and chemical resistance.
  • The fast drying, toughness, outstanding adhesion, resistance to water, good curing, make it suitable to provide protection to metals and other surfaces.
  • On the other side, the paints and coatings derived from epoxy-based resins have limited gloss retention.
  • Epoxy coatings are majorly used for quick-drying, protective coating, etc. for floors, metal, and other materials. Epoxy coatings can be used as epoxy floor paints in an application such as industrial or commercial for flooring applications.
  • It is used over concrete floors in the application of commercial and industrial applications such as in airplane hangars, commercial and retail stores, airplane hangars industrial plants, manufacturing plants, airplane hangars, hospitals, showrooms, garages, etc.
  • The building and construction activities are growing in many countries such as United States, China, India, etc.
  • According to the world bank, in 2020, the construction industry is likely to reach about USD 11.9 trillion, with an increase of about 4.2% from 2019. Thus, in turn, is likely to increase the demand for coatings.
  • Such positive growth in the building and construction industry is likely to increase the demand for epoxy coatings in the forecast period.

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is the largest coatings market across the globe with a 45% share of the global epoxy coatings market.
  • In the region, China, India, and Japan account for higher shares. China has a share of around 56% of the coatings demand in the region.
  • The conversion of the paints and coatings manufacturers to service providers makes it a highly productive option.
  • The manufacturers are also providing the service of painting jobs as well; this is being done with the help of trained contractors as partners.
  • India is to grow at a faster rate than China, thus providing new opportunities for the epoxy coatings market.
  • The aforementioned factors are expected to increase the demand for epoxy coatings in Asia-Pacific in the forecast period.

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Competitive Landscape

The epoxy coatings market is semi-consolidated. The major companies include PPG Industries Inc., AkzoNobel NV, Axalta Coating Systems LLC, The Sherwin-Williams Company, Nippon Paints, etc.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Water-borne Epoxy Coatings

      2. 4.1.2 Growth in Powder-based Epoxy Market, due to the Absence of VOC

    2. 4.2 Restraints

      1. 4.2.1 Stringent Regulation on VOC Emissions

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Technology

      1. 5.1.1 Water-based

      2. 5.1.2 Solvent-based

      3. 5.1.3 Powder-based

    2. 5.2 By End-user Industry

      1. 5.2.1 Building and Construction

      2. 5.2.2 Automotive

      3. 5.2.3 Transportation

      4. 5.2.4 Industrial

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Advanced Environmental Services Inc.

      2. 6.4.2 AkzoNobel NV

      3. 6.4.3 Asian Paints

      4. 6.4.4 Axalta Coating Systems LLC

      5. 6.4.5 BASF SE

      6. 6.4.6 Berger Paints India Limited

      7. 6.4.7 Epoxy-Coat

      8. 6.4.8 The Euclid Chemical Company

      9. 6.4.9 Graco Inc.

      10. 6.4.10 Kansai Paint Co. Ltd

      11. 6.4.11 KOSTER American Corporation

      12. 6.4.12 NIPPONPAINT Co. Ltd

      13. 6.4.13 PPG Industries

      14. 6.4.14 RPM International Inc.

      15. 6.4.15 Tennant Coatings

      16. 6.4.16 The Sherwin-Williams Company

      17. 6.4.17 Tikkurila OYJ

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Introduction of Epoxies with Minimal or No VOC Emissions

** Subject to Availability

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