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Report Score & Ovevriew:

Performance Coatings Market Size was valued at USD 47.72 billion in 2022, and expected to reach USD 70.50 billion by 2030, and grow at a CAGR of 5.0% over the forecast period 2023-2030.

Performance coatings are frequently utilised in environments where surfaces and structures need to be durable, chemical resistant, and improved abrasion. They are made to meet the specifications of their main purposes, which is to safeguard the surface on which they are coated. Different techniques, including solvent-based coating, water-based coating, and powder-based coatings, can be used to apply performance coatings in a variety of end-use industries, including construction, automotive and transportation, industrial, aerospace & defence, marine, and others.

Performance Coatings Market Revenue Analysis

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Market Dynamics:

Drivers:

  • Rising demand coming from the automobile Industry.

  • The marine industry is seeing an increase in demand for performance coating.

Restraints:

  • To cut down on VOC emissions, solvent-based adhesives and varnishes are no longer used.

Challenge:

  • Corrosion injury

Impact of COVID-19:

Lockdowns have been imposed all around the world in an effort to stop the spread of COVID-19, which has resulted in an intensity fall for the performance coatings market. The demand for performance coatings has decreased globally as a result of the closure of manufacturing facilities by the primary end users of performance coatings, including the automotive and transportation industries and the industrial sector. As a result, during the assessment period, the demand for coatings has nearly vanished. It is unlikely to be recovered until all national governments adopt temporary measures.

By Type: In the market for high performance coatings in 2022, the acrylic sector held a sizable market share. Due to strict environmental requirements and the great corrosion resistance of these coatings, acrylic resin-based performance coatings are in high demand, particularly in the automotive industry. Consumer appliances, besides the automotive sector, make up the majority of the end markets for high performance coatings. Applications for wood, marine, transportation, and general industries use acrylic resin-based coatings as well.

By Application: 2022 saw a large market share for powder-based high performance coatings. With a recovery rate of over 98% of powder overspray, powder-based coatings are highly effective and outperform other finishes in terms of resistance to wear, fading, chipping, and scratching. This method requires shorter cure time after the cool-down period and emits very little VOC into the atmosphere. For applications requiring the highest levels of abrasion resistance and hardness, powder-based industrial coatings with minimal VOC emissions offer superior performance and cost effectiveness.

By End Use: Building and construction retained a sizeable market share for high performance coatings in 2022, increasing at a CAGR of 5.12% from 2023 to 2030. The advantages that high performance coatings offer include superior corrosion protection, high impact and abrasion resistance, excellent chemical and thermal resistance, extreme durability and strength, and they also improve aesthetics. Social infrastructure, hospitals, schools, water, government housing, defence infrastructure, and water resources are the main areas with the highest growth expectations in the building and construction sector.

Market Segment:

By Type:

  • Silicon

  • Polyester

  • Acrylic

  • Alkyd

  • Polyurethane

  • Fluoropolymer

  • Other

By Coating Technology

  • Solvent-based

  • Water-based

  • Powder-based

By End-user Industry

  • Automotive and Transportation

  • Industrial

  • Aerospace & Defense

  • Marine

  • Other End- user Industries

Performance Coatings Market Segmentation Analysis

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Regional Analysis:

North America: During the time of the assessment, the North American region is anticipated to lead the growth of the worldwide performance coating market. During the anticipated term, this rise is anticipated to increase market demand. 

Due to the expansion of the automotive, aerospace, and marine industries on the continent, there will likely be a high demand for performance coatings there. Germany, the UK, France, and Russia are significant market growth drivers.

Asia-Pacific: The region's increased building activity, decreased raw material prices, and growing emphasis on environmentally friendly coatings are some of the key drivers driving the growth of the performance coating business there. Therefore, in the near future, these variables are generating a positive potential in the Asia-Pacific region for the global performance coating market.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Key Players:

PPG Industries Inc. (US), Nippon Paint Holdings Co. Ltd (Japan), Kansai Nerolac Paints Limited (India), Akzo Nobel NV (Netherlands), Metal Coatings Corp. (US), Endura Coatings LLC (US), The Chemours Company (US), Toefco Engineered Coating Systems Inc. (US), Beckers Group (Germany), AFT Fluorotec Ltd (UK), The Sherwin-Williams Company (US), Hempel Group (Denmark).

Nippon Paint Holdings Co. Ltd (Japan)-Company Financial Analysis

Performance Coatings Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 47.72 Billion
Market Size by 2030 US$ 70.50 Billion
CAGR CAGR of 5.0% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Silicon, Polyester, Acrylic, Alkyd, Polyurethane, Fluoropolymer, Other)
• By Coating Technology (Solvent-based, Water-based, Powder-based)
• By End-user Industry (Automotive and Transportation, Industrial, Aerospace & Defense, Marine, Other End- user Industries)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles PPG Industries Inc. (US), Nippon Paint Holdings Co. Ltd (Japan), Kansai Nerolac Paints Limited (India), Akzo Nobel NV (Netherlands), Metal Coatings Corp. (US), Endura Coatings LLC (US), The Chemours Company (US), Toefco Engineered Coating Systems Inc. (US), Beckers Group (Germany), AFT Fluorotec Ltd (UK), The Sherwin-Williams Company (US), Hempel Group (Denmark)
Key Drivers • Rising demand coming from the automobile sector.
• The marine industry is seeing an increase in demand for performance coating.
RESTRAINTS • To cut down on VOC emissions, solvent-based adhesives and varnishes are no longer used.

Frequently Asked Questions

Ans: Key stakeholders considered in the study:
Raw material vendors
distributors/traders/wholesalers/suppliers
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
trade/industrial associations
end-use industries are the stake holder of this report

 

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Rising demand coming from the automobile sector and The marine industry is seeing an increase in demand for performance coating are the drivers for Performance Coatings Market.

Ans: Corrosion injury are the challenge for Performance Coatings Market.

Ans: Performance Coatings Market Size was valued at USD 45.45 billion in 2021, and expected to reach USD 63.53 billion by 2028, and grow at a CAGR of 5.0 % over the forecast period 2022-2028.

Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8.Performance Coatings Market Segment, By Type

8.1 Silicon

8.2 Polyester

8.3 Acrylic

8.4 Alkyd

8.5 Polyurethane

8.6 Fluoropolymer

8.7 Other

 

9.Performance Coatings Market Segment, By Coating Technology

9.1 Solvent-based

9.2 Water-based

9.3 Powder-based

 

10.Performance Coatings Market Segment, By End-user Industry

10.1 Automotive and Transportation

10.2 Industrial

10.3 Aerospace & Defense

10.4 Marine

10.5 Other End- user Industries

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12. Company Profile

12.1 PPG Industries Inc. (US)

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Nippon Paint Holdings Co. Ltd (Japan)

12.3 Kansai Nerolac Paints Limited (India)

12.4 Akzo Nobel NV (Netherlands)

12.5 Metal Coatings Corp. (US)

12.6 Endura Coatings LLC (US)

12.7 The Chemours Company (US)

12.8 Toefco Engineered Coating Systems Inc. (US)

12.9 Beckers Group (Germany)

12.10 AFT Fluorotec Ltd (UK)

12.11 The Sherwin-Williams Company (US)

12.12 Hempel Group (Denmark)

 

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

 

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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