global-protective-coatings-industry
Published

December 2017

Protective Coatings Market - Size, Share, and Forecast (2018 - 2023)

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Protective Coatings Market 

The protective coatings market is expected to value at USD 14,014.37 million in 2018 and reach USD 16,073.43 million in 2022, registering an estimated CAGR of 2.78%, during 2018-2023 (the forecast period).

The demand for protective coatings is driven by the rapid infrastructure activities growth in the emerging economies, accompanied by the rising usage of eco-friendly coatings.

The infrastructure (construction) industry dominated the protective coatings market in 2017. The growing population, coupled with the increasing purchasing power among the middle-class population in developing economies such as India, South Korea, and ASEAN Countries, is boosting the need for infrastructural projects such as recreational centers, shopping malls, sophisticated health care centers, high-rise buildings, residential complexes, and many others, further, accelerating the usage and high demand for protective coatings. Power industry is expected to register the fastest growth through the forecast period, 2018-2023. 

Another major factor driving the growth of the protective coatings market is the increasing usage of eco-friendly coatings. However, the harmful and hazardous impact of solvent-borne coatings on human health and environment, combined with the enactment of stringent environmental regulations by the international agencies, are hindering the solvent-borne coatings market growth. Consequently, boosting the demand for eco-friendly coatings such as water-borne coatings, and powder coatings.

AREAS WHERE SCOPE OF PROTECTIVE COATINGS GROWTH IS RISING

In terms of consumption, Asia-Pacific dominated the protective coatings market in 2017 and is expected to register a CAGR of 3.10% during the forecast period, 2018-2023. In this region, the major demand for protective coatings is from the consistently increasing infrastructure activities in emerging economies, such as India, and ASEAN countries.  

NOTABLE DEVELOPMENTS IN THE MARKET

  • In May 2017, Sherwin Williams acquired Valspar, which is expected to make Sherwin Williams one of the leading companies in protective coatings market, further, boosting its market share.  
  • In Sep 2016, 3M's temporary protective films business was sold to US-based Pregis LLC
  • In Aug 2016, Axalta Coatings Systems LLC acquired Geeraets Autolak and High Performance Coating Sdn. Bhd

Why Purchase Our Global Protective Coatings Market Report

  • Will the increasing infrastructure activities in emerging countries help accelerate the protective coatings market
  • What will be the impact of Sherwin-Williams acquisition of Valspar on the protective coatings market
  • Know about: the latest technological advancements in the manufacture of protective coatings
  • How environmental regulations affecting the protective coatings market
  • Analyzing various market perspectives with the help of porter’s five forces analysis
  • What resin type of protective coatings will dominate the market
  • Which of the regions will witness the fastest growth during forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players, such as:
    • Sherwin William
    • AkzoNobel
    • PPG Industries Inc.
    • RPM International 
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