Published on : Mar 26, 2018
Albany, New York, March 26, 2018: According to the findings of the latest study, the global protective coatings market is all set to exhibit impressive growth in the coming few years. It is likely to gain from the rising demand from industries such as building and construction, oil and gas, aerospace, automotive, industrial, marine, and others. The rising demand for improved protection against corrosion, especially in toxic environment has led to the development of protective coatings. To elaborate further, Market Research Hub (MRH) has freshly publicized a study titled “Protective Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” to its massive database, which gives a detailed insight into key drivers and restraints, notable trends, share and size of various segments, and competitive landscape.
Key Insights from the Report
For the benefit of the readers, the report provides a complete perspective on the market’s growth on the basis of revenue in US$ Mn, covering different geographical regions namely Europe, Asia Pacific, North America, Middle East & Africa and Latin America. As per the report evaluations, the global protective coatings market is predicted to rise from US$12,463.7 mn in 2016, and to reach a valuation of US$19,374.50 mn by the end of 2025 end. Apart from this growth, the market is expected to register a promising CAGR of 5.10% from 2017 to 2025.
The primary aim of protective covering is to provide resistance against corrosion, chemical attacks, extreme weather conditions and protection from other such possible risks or dangers to which various metals and materials are exposed. It has been analyzed that the protective coatings market will primarily gain from the hastening investment in building and construction activities worldwide. Geographically, the Asia Pacific region dominates the market for protective coatings followed by Europe and North America.
Moving further, the research segments the global protective coatings market on the basis of resin type, product formulation, and end-use industry. These segments have been analyzed based on present and future trends. In terms of resin type, the protective coatings can be classified into acrylic, epoxy, polyurethane, alkyd, polyesters, others (phenolic, fluoropolymer, nitrocellulose etc.). By product formulation, it includes solvent borne, water borne, powder borne and others.
As the report concludes, readers are offered information about the competitive landscape, which details about the various players active in the market. Key players profiled in the study are Nippon Paint Holdings Company Limited, PPG Industries Inc., Arkema Group, Sherwin-Williams Company, Kansai Paint Company Limited, Jotun Group, Akzo Nobel N.V., Axalta Coating Systems, Hempel A/S, Sika AG.
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