Global 2K Protective Coatings Market: Overview
Products in the global 2K protective coatings market are used in the infrastructure and civil building industry for wood finishes, bridges, doors, ceilings, flooring, exterior and interior walls, and swimming pools, etc. These products in the global 2K protective coatings market form a thin layer on various applicable surfaces and are utilized to increase the stability as well as the longevity of these structures. Products in the global 2K protective coatings market prevent degradation of thee infrastructures by preventing rusting of the metal surfaces, leakages, fading, cracking of concrete and restrict the growth of micro-organisms such as fungi and algae. Water proofing products in the global 2K protective coatings market are applied to floorings and walls in order to avoid moisture and prevent leakages.
The corporate survey study offers a detailed account of various inter-connected factors that may instigate significant growth in the global global 2K protective coatings market over the forecast period of 2021 to 2031. It details the current scenario of the industry and predicts certain elements and components of the global global 2K protective coatings market that may influence the development trajectory of the industry during 2021 to 2031 i.e. the forecast period. It also features comprehensive overview of existing as well as emerging trends and drivers that hold the potential to instill substantial growth in the global global 2K protective coatings market over the forecast years. The business intelligence study carefully charts the future trajectory of the global global 2K protective coatings market by utilizing extensive amount of research data acquired through meticulous survey of historic as well as base years.
Global 2K Protective Coatings Market: Major Trends and Drivers
Increase in the demand from infrastructure and civil building industries in the Asia Pacific region is likely to aid in the expansion of the overall global 2K protective coatings market over the forecast period. However, high cost associated with production of products in the global 2K protective coatings owing to high prices of energy required as well as of the raw materials may restrict the growth in the industry in coming years. On the other hand, rising demand for effective maintenance of the existing substrates may offer vendors in the global 2K protective coatings with lucrative growth opportunities in coming years. Furthermore, challenges in developing cost effective products while maintaining stringent environmental regulations may hinder the growth in the global 2K protective coatings in coming years.
Global 2K Protective Coatings Market: Key Players and Manufacturers
Some of the major and leading players and manufacturers assessed in the business intelligence report on the global 2K protective coatings include Akzo Nobel N. V., The Sherwin Williams Company, Hempel A/S, Nippon Paints Holdings Co. Ltd., Sika AG, RPM International, Inc., PPG Industries, Jotun A/S, Chugoku Marine Paints Ltd., and Kansai Paint Co., Ltd., among others. Players and manufacturers in the global 2K protective coatings are increasing their investments for developing new products and launching these new products in order to gain a larger consumer base.
For example, Akzo Nobel invested US$ 23 million in order to increase their powder coatings capacity of their plant in Como, Italy, in October of 2020. This move can strengthen their position in the global 2K protective coatings and facilitate green manufacturing. Additionally, PPG Industries launched PPG Aquacover, which is a waterborne coating system for shipping containers in China in November of 2020.
Global 2K Protective Coatings Market: Regional Assessment
Geographically, Asia Pacific region has emerged as one of the major consumers as well as producers of the products in the global 2K protective coatings in the recent past. Rising demand in global 2K protective coatings in Asia Pacific can be attributed to growing infrastructure, marine, construction, and industrial industries in the region, availability of lands as well as low cost labour, and rising demand from the power and energy industries in the region. Rising focus of several regional economies on expanding their solar power projects is also boosting the demand in the global 2K protective coatings in Asia Pacific.
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