The global Epoxy Coating Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Epoxy Coating Market is estimated to reach USD 41.71 billion by 2024 owing to the growing expenditure on commercial and residential construction in emerging economies across the world. Epoxy is a sealant used for concrete flooring. They are made with best hardening material for any kind of epoxy resin and are well known their quick-drying ability, protective coating and toughness.
Key Players:
- AkzoNobel N.V.
- BASF
- Nippon Paint Company Limited
- The Sherwin Williams Company
- PPG Industries Inc.
- RPM International Inc.
- Berger Paints India Limited
- Axalta Coating System
- The Valspar Corporation
- Tikkurila Oyj
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Growth Drivers:
As compared to the customary heat cured powder coatings, epoxy coatings can be easily applied, which makes them ideal for a wide range of applications like garage bay floors to concrete protection. Besides, epoxy coatings are applied for concrete repairing, protective equipment coating and anti-corrosive coatings. Overall, epoxy coatings safeguards steel and concrete from corrosion by alkalis and acids, salts and other corrosive factors. Due to the advantages of epoxy coatings in safety, health and environment, water-borne epoxy coatings are mostly used in applications like building & construction, commercial and transportation. The amplified use of electronic elements in automobiles is one of the major driving forces of epoxy coating industry.
Water-borne epoxy coatings hold properties like toughness, mechanical strength with thermal and electrical features enable the broad use of water-borne epoxy coatings in numerous industries. Besides, wind energy and aerospace industries are also extensively demanding water-borne resin composites, which is expected to drive epoxy coating market in the coming years.
Epoxy coating industry is also majorly driven by the growth in coating additives industry. Epoxy coatings are used in different applications like paints and construction. Furthermore, they improve strength, chemical resistance, aesthetics and performance of coatings. In construction industry, epoxies are widely used as adhesives in several forms like epoxy primer and epoxy glue. Rise in demand of additives in several applications because of its performance improvement property is also driving the market positively.
The key trends observed in the market comprise properties like corrosive chemicals, heat, and excellent resistance to ultraviolet light among others. Additionally, epoxy coatings also hold features like exceptional adhesion to metal surface, fibers, glass and remarkable dimensional ability which are expected to fuel epoxy coating market in near future. Nevertheless, strict government regulations to control air pollution and epoxy coatings technology that produce low pollutants are predicted to stimulate the market in future.
Application Outlook:
- Construction
- Industrial
- Transportation
Product Outlook:
- Solvent Borne
- Waterborne
- Powder
Regional Outlook:
Geographically, the industry is segmented as North America, Europe, Asia Pacific and RoW. Asia Pacific followed by North America and Europe are expected to dominate the market due to industrial development in the years to come. Owing to the growing industrialization and commercialization in the developing Asia Pacific economies, construction and industrial sector is expected to hold larger share in the forecast period.
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