Global Protective Coatings Market: Overview

Protective coatings have wide applications in a plethora of industrial sectors such as packaging, fabrication plants, and assembly lines to build various machines, among many others. These coatings are also used to protect as well as decorate an assortment of materials such as plastics, metals, and wood surfaces. However, their industrial use has witnessed considerable expansion as compared to their decorative applications in recent times.

The coatings have derived their name from their characteristic to resist changes associated with temperature and pressure, as well as providing ample resistance against corrosion and weathering. The extensive use of these coatings have led to the demarcation of a distinct protective coatings market. Rapid urbanization and industrialization in emerging economies is a prime factor which could be responsible for extensive expansion of the global protective coatings market in future. From an overall perspective, the global protective coatings market is expected to showcase a healthy growth in the next few years mainly due to the expansion of various industrial sectors all over the world.

With respect to statistics, the global protective coatings market had registered a revenue worth US$12463.7 mn in 2016. However, the market is prognosticated to depict a revenue worth US$19374.50 until 2025. Such a phenomenal growth is expected to occur at an impressive CAGR of 5.10% during the forecast period from 2017-2025.

global protective coatings marketBuilding and Construction Sector Grabs Handsome Market Shares

The global protective coatings market is mainly segmented on the basis of resin type, product formulation, end-use industry, and region. According to the resin type, key segments are polyurethane, alkyd, acrylic, epoxy, polyesters, and others. Under product formulation, the worldwide protective coatings market is segmented as powder borne, solvent borne, water borne, and others.

From the perspective of end-use industry, the market is segmented into oil and gas, aerospace, building and construction, marine, automotive, and others. Of all these industries, the building and construction sector witnessed maximum utilization of coatings in recent times. In several countries, favorable government initiatives that involve provision of housing and other welfare schemes are notably boosting the construction sector’s growth. However, the oil and gas sector is expected to garner a lion’s share of revenue in the next few years. Few other industries such as electronics, appliances manufacturing, paper and pulp, and power generation equipment also are expected to showcase a surge in the use of the coatings.

Asia Pacific Occupies Leading Position In Terms of Market Expansion

Region-wise, the global protective coatings market is segmented into North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe. Among these, Asia Pacific has managed to garner splendid revenue mainly due to rapid industrialization taking place in this region. Low cost of labor, easy availability of materials, and a favorable working environment are chief factors mainly responsible a healthy presence of the market in this region. Apart from Asia Pacific, North America and Europe also depict an expansive presence of this market, thanks to a strong industrial backdrop.

The market for protective coatings illustrates a highly fragmented and competitive vendor landscape, thanks to the presence of innumerable businesses. While achieving product differentiation remains a key goal most players, regulation of product costs and improving geographical reach also are prime strategies. Axalta Coating Systems, Sherwin-Williams Company, PPG Industries Inc., Hempel A/S, Jotun Group, Akzo Nobel N.V., Sika AG, Nippon Paint Holdings Company Limited, Arkema Group, and Kansai Paint Company Limited are few chief players present in the global protective coatings market.

Global Protective Coatings Market: Overview

This report analyzes and forecasts the market for protective coatings at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (Kilo Tons) from 2017 to 2025. The study includes drivers and restraints of the global protective coatings market. It also covers the impact of these drivers and restraints on demand for protective coatings during the forecast period. The report also highlights opportunities in the protective coatings market at the global and regional level.

Global Protective Coatings Market: Scope of the Study

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global protective coatings market. Porter’s Five Forces model for the protective coatings market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global protective coatings market by segmenting it in terms of resin type, product formulation, and end-use industry. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for protective coatings in North America, Europe, Asia Pacific Middle East & Africa and Latin America. The report also covers demand for individual resin type, product formulations, and end-use industry in all the regions.

Global Protective Coatings Market: Research Methodology

The report provides the estimated market size of protective coatings for 2016 and forecast for the next eight years. The global market size of protective coatings has been provided in terms of revenue and volume. Market numbers have been estimated based on resin type, product formulation, and end-use industry segments of protective coatings market. Market size and forecast for each major resin type, product formulation and end-use industry have been provided in terms of global and regional markets.

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, webcasts specific to companies operating in the market, American Chemical Society, International Council of Chemical Associations, 4m Associations, and European Union. Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, resin type, end-use industry, and product formulations across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

Competitive Landscape

The study includes profiles of major companies operating in the global protective coatings market. Key players in the protective coatings market include PPG Industries Inc., Arkema Group, Sherwin-Williams Company, Kansai Paint Company Limited, Jotun Group, Akzo Nobel N.V., Axalta Coating Systems, Nippon Paint Holdings Company Limited, Hempel A/S, Sika AG, etc. Market players have been profiled in terms of attributes such as company overview, overall revenue, business strategies, and recent developments.

The report segments the Global Protective Coatings market as follows:

Global Protective Coatings Market: By Resin Type

  • Acrylic
  • Epoxy
  • Polyurethane
  • Alkyd
  • Polyesters
  • Others

Global Protective Coatings Market: By Product Formulation

  • Solvent-borne
  • Water-borne
  • Powder-borne
  • Others

Global Protective Coatings Market: By End-use Industry

  • Building and Construction
  • Oil and Gas
  • Aerospace
  • Automotive
  • Industrial
  • Marine
  • Others

Global Protective Coatings Market: By Region/Country/Sub-region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Turkey
    • Russia
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA