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The global epoxy primer market is estimated to grow at a favorable rate from 2021 to 2031 (forecast period). The increased consumption of epoxy primer around the world, owing to a surge in demand from numerous industries such as building and construction, automotive, and the oil and gas sector, is likely to drive the global epoxy primer market. Moreover, the increased requirement to prevent corrosion-related losses and the widespread usage of high-performance epoxy primers are projected to boost the growth of the global epoxy primer market. Furthermore, the growing industrialization is anticipated to propel the global epoxy primer market during the forecast period.
Prominent players operating in the global epoxy primer market are AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Nippon Paint Co. Ltd. (Japan), PPG Industries Inc. (US), BASF SE (Germany), Kansai Paint Co. Ltd. (Japan), Tikkurila Oyj (Finland), Axalta Coating Systems LLC (US), and RPM International Inc. (US).
To improve their market position, market players use various methods such as product launches, joint ventures, mergers and acquisitions, and R&D initiatives.
Epoxy primer is a sealer that creates a smooth surface. It is most commonly used as the first base coat over bare steel. Epoxy primers can also be applied to concrete, fiberglass, metals, plastic, and other materials. Due to their superior adhesion, mechanical capabilities, and chemical resistance in high-humidity settings, epoxy primers are utilized for a wide range of materials. Epoxy primers are employed on walls, ceilings, and floors in the building and construction industry. These primers are utilized in a variety of commercial, residential, and industrial buildings, including warehouses.
The use of epoxy primers in the building and construction industry has steadily expanded over the years due to their excellent adherence to subsequent paint layers. Infrastructural activities consume over 9% of India's GDP. The Indian government has given the infrastructure sector a huge boost by allocating INR 39.45 lakh crore in the Union Budget 2021-2022. During the forecast period, the global epoxy primer market is anticipated to be driven by rising building activities in countries such as China, the United States, Japan, and India.
Moreover, the global epoxy primer market is expected to benefit from strong usage in the automotive and marine industries. Epoxy primer is used extensively in the automotive and marine industries. During the forecast period, the automotive application is projected to gain momentum. Automobile sales in Asia Pacific have been steadily increasing in recent years. China, South Korea, Japan, India, and Indonesia are among the important countries driving growth in this region. Due to the expansion of the automotive industry, India and China are expected to be the fastest-growing markets throughout the forecast period. These factors have played a significant role in increasing the need for epoxy primers in the automotive industry. As a result, the global epoxy primer market is expected to grow during the forecast period.
The epoxy primer market in Asia Pacific is anticipated to expand over the forecast period, owing to strong demand for coatings from nations such as India, China, and other Southeast Asian countries. Moreover, the expansion of the construction, marine, automotive, and industrial sectors is also likely to boost the epoxy primer market in Asia Pacific.
The epoxy primer market in North America and Europe is likely to grow in the near future, owing to the increasing demand for high-performance epoxy primer. Moreover, the United States is expected to make significant contributions to the epoxy primer market in North America.
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Epoxy Primer Market
