The global Protective Coatings Market size is expected to reach USD 19.46 Billion in 2028 and register a revenue CAGR of 5.5% over the forecast period, according to a latest report by Reports and Data. Rise in infrastructure spending and increase in constructional activities owing to rapid urbanization and population growth is expected to drive market revenue growth during the forecast period. The need to improve connectivity between cities is boosting government investment for infrastructural development. China invested around USD 119 billion for railways and USD 268 billion for road and water transport project in 2019.
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Top Leading Players: AkzoNobel, PPG Industries, Inc., Sherwin-Williams Company, JOTUN A/S, Hempel A/S, Nippon Paint Holdings Co., Ltd.¸ Sika AG, Kansai Paint Co., Ltd., RPM International Inc., and Axalta Coating Systems, Ltd.
Key Companies in the market include:
- Epoxy segment is expected to account for largest revenue share in global protective coatings market over the forecast period owing to its increasing usage for growing infrastructure development in developing countries. Optimum protection against abrasion, extreme temperatures, corrosive fluids, and turbulence provided by epoxy coating is boosting its demand across various end-use industries.
- Solvent-borne segment is expected to register significant revenue growth over the forecast period. Solvent-borne protective coatings are increasingly utilized for offering protection against corrosion as it is less susceptible to environmental conditions such as humidity and temperature during the curing phase compared to water-borne protective coatings.
- Construction segment is expected to account for a considerable revenue share in the global protective coatings market. Need for new structures with a long service life and better durability of existing ones is driving the usage of protective coatings on concrete.
- The protective coatings market in Asia Pacific is expected to account for largest revenue share over the forecast period. Increase in construction activities in developing countries of the region owing to rapid industrialization and urbanization and growth in population is expected to drive the market growth in the region during the forecast period.
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Protective Coatings Market Upcoming Growth:
The global protective coatings market is expected to experience significant growth in the coming years, driven by various factors such as increasing demand from end-use industries, growing infrastructure development, and rising awareness about environmental sustainability.
Some of the key trends and factors driving the growth of the protective coatings market include:
- Increasing demand from end-use industries: Protective coatings are widely used in various end-use industries such as construction, automotive, aerospace, marine, and oil & gas. The increasing demand from these industries for advanced and effective protective coatings is expected to drive the growth of the market.
- Growing infrastructure development: The increasing investment in infrastructure development, especially in developing countries, is expected to boost the demand for protective coatings. These coatings are used to protect buildings, bridges, and other structures from corrosion and other damages.
- Rising awareness about environmental sustainability: With increasing awareness about environmental sustainability, there is a growing demand for eco-friendly protective coatings that are free from harmful chemicals and have minimal impact on the environment. This is expected to drive the growth of the market for green protective coatings.
- Advancements in technology: The development of new and advanced protective coatings with enhanced properties such as improved durability, resistance to chemicals and corrosion, and high temperature resistance is expected to drive the growth of the market.
- Increasing demand from emerging economies: The rising demand for protective coatings from emerging economies such as China, India, and Brazil is expected to create significant growth opportunities for market players.
Key questions covered in the global Protective Coatings market report:
- What is the expected market size of the global Protective Coatings market during the forecast period?
- What factors are expected to hamper global Protective Coatings market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Protective Coatings market?
Segments covered in the report:
Product Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Epoxy
- Acrylic
- Polyurethane
- Polyester
- Alkyd
- Others
Formulation Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Water-Borne
- Solvent-Borne
- Powder-Based
- Others
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Construction
- Oil & Gas
- Aerospace
- Industrial
- Automotive
- Others
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