The 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.
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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
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.
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
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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
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).
| 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. |
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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