Epoxy Coatings Market: Overview

Epoxy resins are actually a type of synthetic resins that are utilized in producing adhesives and plastics. These resins are widely acknowledged for their versatile properties such as extreme toughness, resistance, and excellent dimensional stability. Epoxy resins provide an external coating called epoxy coating that serves as a superb resistance to UV light, corrosive chemicals, and heat. The overall growth of the epoxy coatings market relies on the increasing demand for improved and durable coatings and paints. In addition to this, regional governments are putting high emphasis on curbing down VOC content in the paints and coatings made of epoxy-base.

There are two types of epoxy coatings viz. waterborne and powder-based. The former is not reactive and fairly easy to use when treated with water. But waterborne coatings face relatively high number environmental issues. Thus, to counter the environmental issues, there has been an increased preference to powder-based epoxy coatings. Moreover, strict environmental policies are being adopted in various countries to curb down pollution and VOC emission. These type government policies are expected to significantly boost the powder-based epoxy coatings market in the coming years. However, fluctuating market prices of epoxy resins because of the volatile raw material prices is expected to have a negative influence on the market in the near future. But on the other hand, extensive research and development activities are underway that are backed by sound investments to develop eco-friendly epoxy resins. Such activities will substantially help in boosting the epoxy-coatings market in the coming years.

Epoxy resins is a group of synthetic resins that are used to manufacture plastics and adhesives. They are known for their versatile properties. Epoxy coating is a thick protective covering made of epoxy resins. Epoxy surface coatings are amongst the commonly used industrial finishes. They provide exceptional resistance to heat, UV light, and corrosive chemicals. They also exhibit outstanding dimensional stability, extreme toughness, and resistance to abrasion. In addition, they offer excellent adhesion to surfaces of metals, fibers, glass, and several other materials. Superior properties of epoxy coatings are expected to fuel the global market for epoxy coatings during the forecast period.

Based on the type, the global epoxy coatings market can be divided into two segments: waterborne coatings and powder-based coatings. The former type of coatings are water soluble and are normally cured with water. These are not reactive and are relatively easy to use. However, they face a fair amount of environmental issues. Powder-based coatings are cured under controlled high temperature. These are highly adaptable and useful in various applications. The powder-based segment held a major share of the global epoxy coatings market in 2015, due to minimal impact of these coatings on the environment. The segment is expected to continue its dominance during the forecast period, owing to non-VOC (volatile organic compound) emission properties of powder-based coatings. The segment is also likely to be driven by high demand from end-user industries such as transportation and construction.

Key drivers for the global epoxy coatings market are the increasing demand for waterborne and powder-based coatings, especially from developing countries. High cost of epoxy coatings may restrain the growth of the market, but the outstanding properties and long life of these coatings would foreshadow the high cost. Stern government regulations, especially to lower the air pollution, are projected to promote the adoption of low-polluting epoxy coatings technology. This is likely to boost the powder-based segment during the forecast period. Epoxy coatings are employed for preventing corrosion and rust on bodies and other components of automobiles. Growth of the automobile industry, particularly in Asia Pacific, is likely to drive the global epoxy coatings market.

In terms of region, the global epoxy coatings market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held the dominant share of the global epoxy coatings market in 2015, followed by Europe and North America. Asia Pacific is anticipated to continue its dominance in the global market during the forecast period. This is due to the increasing demand for epoxy coatings in developing countries and the developing economy of the region. China led the global epoxy coatings market in 2015 and is expected to continue its dominance during the forecast period. This is due to growth of automobile and construction industries in the country. The epoxy coatings market in India and Taiwan is likely to witness substantial growth during the forecast period. The epoxy coatings market in Europe is expected to expand at a moderate rate during the forecast period. The market in Latin America is estimated to expand rapidly during the forecast period, primarily due to demand for epoxy coatings and its proximity to the U.S. markets. This makes it a genuine choice for the set-up of production facilities.

The market for epoxy coatings is moderately consolidated. Major players operating in the global epoxy coatings market are BASF, Axalta Coating Systems, Berger Paints India Limited, Kansai Paint Company Limited, AkzoNobel N.V., PPG Industries Inc., Tikkurila Oyj, RPM International Inc., Nippon Paint Company Limited, The Valspar Corporation, and The Sherwin Williams Company.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold 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. 

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
  • Europe
  • 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.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Epoxy Coatings Market

Pre Book