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.
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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.
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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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.