High Performance Epoxy Market: Low Odor Coating
- In the form of coating, high performance epoxy is applied over concrete floors in order to provide high performance, smooth, and durable surface. Coating on the floors is carried out to withstand heavy loads.
- High performance epoxy offers lower solvent odor than typical industrial coatings. Therefore, it is commonly used in buildings. It is also chemically resistant. Thus, it can act as an ideal coating for application in the manufacturing sector.
- Properties of high performance epoxies such as high gloss; and protection of concrete against cleaners, oils, fuels, solvents, and water make it an ideal choice in flooring applications
- In addition to coating, high performance epoxy provides superior adhesive properties to a wide range of substrates, which include glass and nonferrous metals. High performance epoxy offers high wettability and leveling attributes on difference substrates.
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Key Drivers of High Performance Epoxy Market
- Rise in demand for low VOC based epoxy coatings for architectural and protective low-viscosity vehicle coating for automotive application is driving the global high performance epoxy market
- Increase in in investment in the building & construction industry, owing to the growth in the global economic development and rise in population in developed and developing countries, is projected to fuel the demand for floor coatings market. This, in turn, is driving the high performance epoxy market. Properties offered by these epoxies such as increased mechanical strength, high chemical & temperature resistance, and strong superior finishing ability are estimated to augment the market in the near future.
- Rapid industrialization in developing nations has led to an increase in demand for high performance epoxy for coatings of floors in commercial and industrial structures, including retail stores, hospitals, showrooms, and warehouses. Additionally, properties offered by high performance epoxy in coating applications such as higher gloss and esthetic finish in form of terrazzo flooring and colored aggregate flooring is anticipated to drive the global high performance epoxy market.
Building & Construction and Marine Segments to Offer Attractive Opportunities
- High performance epoxy is used as an anticorrosion coating, as it is resistant to chemicals. Led by this property, high performance epoxy is used in coating of boats, ships, and submarines. Epoxies are used in commercial manufacture of components, where high strength-to-weight ratio is required, due to their higher mechanical properties than that of polyester resins. This, in turn, is anticipated to augment the demand for high performance epoxy in marine applications.
- Characteristics such as low shrinkage, good dimensional stability, high temperature resistance, and good adherence to reinforcement makes high performance epoxy ideal for industrial application. These epoxies are also used as coatings for tank exteriors, piping, paper mills, offshore platforms, and structures in chemicals and coastal plants. High performance epoxy is used for tank lining system for protection against chemical attacks owing to its high resistance against corrosion. This, in turn, is expected to drive the high performance epoxy market in the near future.
- Rise in governmental initiatives and rapid urbanization are likely to boost the building & construction sector. Increase in per capita income of the people has led to a change in lifestyle. This has augmented the construction of high profile infrastructure and luxurious hotels. High performance epoxy is used to add high gloss to the floor. This is projected to boost the high performance epoxy market during the forecast period.
- Flame-retardant high performance epoxy, in the form of adhesive, is employed in the aerospace sector for designing of interior parts of aerospace. Also, high performance epoxy offers low density with high compressive strength. This is a major requirement in decreasing the weight of the overall structure.
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High Cost of High Performance Epoxy to Hamper Market
- The cost of manufacturing of high performance epoxy is high. This has led to an increase in cost of the epoxy. Furthermore, the high performance epoxy market is in the development stage. This is expected to hamper the high performance epoxy market in the near future.
Asia Pacific Expected to Hold High Share of Global High Performance Epoxy Market
- Geographically, the global high performance epoxy market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Rise in globalization and increase in reconstruction activities across the globe are likely to drive the coatings industry. Rapid economic growth in countries such as India and China is expected to boost the demand for housing and commercial infrastructure, thereby augmenting the demand for floor coatings during the forecast period. This, in turn, is estimated to drive the high performance epoxy market, in Asia Pacific.
- Increase in research activities and rise in investment in field of coatings, typically in Japan, China, and South Korea, are likely to provide ample opportunities to manufacturers of high performance epoxy in the near future
- Growth in FDI investment in automotive and construction industries in developing economies of Asia Pacific is another factor expected to fuel the market in the region during the forecast period
- Rise in import of high performance epoxy in Latin America and Middle East & Africa due to its excellent solvating power and low VOC emissions is likely to boost its demand in these regions
Key Players in High Performance Epoxy Market
The global high performance epoxy market is highly concentrated, with the top manufacturers accounting for major share. Key players operating in the global high performance epoxy market include:
- The Euclid Chemical Company
- FORREST Technical Coatings
- Smooth-On, Inc
- Huntsman International LLC
- Kansai Nerolac Paints Limited
- Verdia, Inc.
- DIC Corporation
- The Sherwin-Williams Company
- Rust-Oleum Corp.
- Zeraus Products Inc.
Global High Performance Epoxy Market: Research Scope
Global High Performance Epoxy Market, by End-use
- Building & Construction
- Electronic & Electrical
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