Global Protective Coating Resins Market
The global Protective Coating Resins market was valued at USD 18.08 billion in 2016 and is projected to reach USD 25.29 billion by 2025, growing at a CAGR of 3.80% from 2017 to 2025.
Protective coatings are in huge demand owing to requirement for resistance against abrasion and harmful effects of chemicals. The growing demand in industrial and automotive equipment is driving market demand. Epoxy type is used extensively as it contains low VOC content and exhibits excellent corrosion resistance properties.
1. Market Drivers
1.1 Increasing demand from construction industry
1.2 Need of efficient processes and longer life of equipments
2. Market Restraints
2.1 High costs associated with materials and utilities
The global Protective Coating Resinsmarket is segmented on the resin type, formulation, application, and region.
1. By Resin Type:
2. By Formulation:
2.1 Water Borne
2.2 Solvent Borne
3. By Application:
3.2 Building and Construction
3.6 Power Generation
3.7 Oil and Gas
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. PPG Industries
2. Hempel A/S
3. Akzonobel NV
4. Axalta Coating Systems
5. The Sherwin Williams Company
6. Vlaspar Corporation
7. Arkema SA
8. RPM International
9. Sika AG
10. Wacker Chemie AG
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Protective Coating Resins Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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