Market Trends of Epoxy Primers Industry
This section covers the major market trends shaping the Epoxy Primers Market according to our research experts:
Growing Demand from the Building and Construction Sector
- Epoxy primer is a sealer that produces a good surface finish. It is primarily recommended as the first base coat over bare steel. These base coats or epoxy primers can also be used over fiberglass, plastic, concrete, metals, and others.
- Epoxy primers are used for a wide variety of materials due to their strong adhesion, good mechanical ability, and chemical resistance in wet and high-humidity environments.
- In the building and construction segment, epoxy primers are used in floors, walls, and ceilings. These primers are used in residential, commercial, and industrial buildings such as warehouses and others.
- Application of epoxy primers in the building and construction segment has gradually increased over the years as it ensures excellent adhesion to the subsequent paint layers.
- Nearly 9% of India's GDP is spent on infrastructural activities. The government of India has given an enormous momentum to the infrastructural sector, by allocating INR 5.97 lakh crore (~USD 92.22 billion), under the Union Budget 2018-2019.
- Growing construction activity in countries such as China, Japan, United States, and India are expected to drive the market for epoxy primers during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for epoxy primers during the forecast period. With the growing construction sector in countries, such as China, India, and Japan, the utilization of epoxy primers is increasing in the region.
- The largest producers of epoxy primers are located in Asia-Pacific. Some of the leading companies in the production of epoxy primers are NIPPON PAINT, Berger Paints Singapore, Asian Paints, Pidilite Industries Limited, Kansai Paint Co., Ltd.
- The Chinese government has rolled out massive construction plans, including making provisions for 250 million people in its new megacities, over the next ten years, creating scope for epoxy primers in its construction activity over the coming years increasing the scope for the application of epoxy primers.
- Epoxy primers are also used in aircraft. CA7049 is a three-component, chromate-free epoxy primer designed by PPG Industries, Inc to protect exterior aircraft surfaces. It is also used as a refresh primer over basic primers.
- The Indian government has announced an investment worth USD 31,650 billion for the construction of 100 cities, under the smart cities plan. 100 smart cities and 500 cities are likely to invite further investments of worth INR 2 trillion (~USD 28.18 billion), over the coming five years creating scope for the application of these epoxy primers.
- Epoxy primers are also used in automotive industry on metals and fiberglass. It improves surface smoothness, increases basecoat and topcoat adhesion, and also protects vehicles from UV rays.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for epoxy primers during the forecast period
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