The Protective Coatings Market size is expected to expand at a CAGR of 6% from USD 14.62 billion in 2022 to USD 23.31 billion in 2030. In the anticipated period, the civil building and infrastructure industry in the APAC region is expected to expand, resulting in an increase in demand for Protective Coatings. The global Protective Coatings Market is expected to be driven by rising construction activities, increased infrastructure spending, the need to extend the life of devices and equipment, rising demand for high-quality protective coatings, growing population, rapid urbanization, industrial growth, and technological advancement during the forecasted period. Furthermore, rising protective coatings demand in various end-use sectors such as construction, automotive, mining, oil & gas, aerospace, and transportation will boost the worldwide Protective Coatings Market ahead. The Global Protective Coatings Market study offers a comprehensive analysis of the industry. The research includes a detailed analysis of key segments, trends, drivers, constraints, the competitive landscape, and other important market aspects.
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Drivers
Use in civil building & infrastructure industry
Increasing the longevity and stability
Restraints:
High prices of raw materials and energy
Opportunities
Increasing demand for maintenance
Challenges:
Development of cost-effective products under environmental regulations
According to recent IMF (International Monetary Fund) updates, the global economic crisis of 2019 will be repeated or worsened in 2020. Between 2020 and 2021, the IMF predicts a total output loss of USD 9 trillion in the global economy. The economic impact will be determined by how the virus spreads in Europe, the United States, and other key economies.
Economists predict that the Chinese economy would be further harmed by diminished global demand for its products as a result of the outbreak's impact on foreign economies. As the epidemic spreads, the rate of growth will slow dramatically, owing to turbulent markets and rising credit stress.
China's economy has been impacted far worse than expected, according to preliminary data, though a small recovery has begun. Increased travel and transit limitations, as well as a protracted lockdown, will result in a demand collapse in Europe and the United States, which will rebound a little in the second quarter before a big recovery begins later in the year. Fiscal authorities have been slow to loosen their purse reins in general. It is envisaged that expenditure on the most vulnerable groups will increase and become more targeted. Movement restrictions in Europe and the United States are stifling economic development.
A detailed segmentation by resin type, formation type, functional solutions, end-user industry, and location is included in the worldwide protective coatings market research report. Due to increased stringency by government bodies to restrict the application of volatile organic compounds, demand for epoxy coatings is expected to rise throughout the forecast period (VOC). Epoxy protective coatings are very popular because they provide good corrosion resistance and water resistance. Epoxy resin usage has increased in North America over time, mainly to the growing need for environmentally friendly coatings in the construction industry.
By Technology
Solvent based
Water-based
Powder Coatings and Others
By Resin Type
Epoxy
Polyurethane
Acrylic
Alkyd
Zinc
Others
By End-use Industry
Offshore structures
Petrochemical
Marine
Cargo containers
Power generation
Civil building & Infrastructure
Food & beverages
Others
By Application
Abrasion Resistance
Chemical Resistance
Fire Protection
Heat Resistance
Corrosion Resistance
Pipe Coatings
Tank Linings
Others
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In terms of revenue share, Asia Pacific is the most prominent regional market, and this trend is likely to continue over the projection period. This is due to the rising demand for protective coatings from a variety of industries, including power generation, oil & gas, industrial, aerospace, automotive, mining, and others.
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
AKZONOBEL N.V., HEMPEL A/S, KANSAI PAINTS CO., LTD, NIPPON PAINTS CO. LTD., THE DOW CHEMICAL COMPANY, WACKER CHEMIE AG, 3M CO., THE SHERWIN-WILLIAMS COMPANY, PPG INDUSTRIES INC, BASF SE, and others.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 14.62 Billion |
| Market Size by 2030 | US$ 23.31 Billion |
| CAGR | CAGR of 6% 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 Technology (Solvent Based, Water Based, Powder Coatings And Others) • By Resin Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, Others) • By End-Use Industry (Offshore Structures, Petrochemical, Marine, Cargo Containers, Power Generation, Water & Wastewater Treatment, Civil Building & Infrastructure, Food & Beverages, Others) • By Application (Abrasion Resistance, Chemical Resistance, Fire Protection, Heat Resistance, Corrosion Resistance, Pipe Coatings, Tank Linings, Others) |
| 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 | AKZONOBEL N.V. HEMPEL A/S, KANSAI PAINTS CO., LTD, NIPPON PAINTS CO. LTD., THE DOW CHEMICAL COMPANY, WACKER CHEMIE AG, 3M CO., THE SHERWIN-WILLIAMS COMPANY, PPG INDUSTRIES INC, BASF SE, and others. |
| DRIVERS | • Use in civil building & infrastructure industry • Increasing the longevity and stability |
| OPPORTUNITIES | • High prices of raw materials and energy |
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Economists predict that the Chinese economy would be further harmed by diminished global demand for its products as a result of the outbreak's impact on foreign economies. As the epidemic spreads, the rate of growth will slow dramatically, owing to turbulent markets and rising credit stress.
Ans: Development of cost effective products under environmental regulations are the challenges faced by the Protective Coatings Market.
Ans: Use in civil building & infrastructure industry and Increasing the longevity and stability are the Drivers for antimicrobial plastics Market
Ans: Protective Coatings market size is expected to expand at a CAGR of 6% from USD 13.8 billion in 2021 to USD 20.75 billion in 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. Global Protective Coatings Market, By Technology
8.1 Solvent based
8.2 Water based
8.3 Powder coatings and others
9. Global Protective Coatings Market, By Resin type
9.1 Epoxy
9.2 Polyurethane
9.3 Acrylic
9.4 Alkyd
9.5 Zinc
9.6 Others
10. Global Protective Coatings Market, By End-use Industry
10.1 Offshore structures
10.2 Petrochemical
10.3 Marine
10.4 Cargo containers
10.5 Power generation
10.6 Water & wastewater treatment
10.7 Civil building & Infrastructure
10.8 Food & beverages
10.9 Others
11. Global Protective Coatings Market, By Application
11.1 Abrasion Resistance
11.2 Chemical Resistance
11.3 Fire Protection
11.4 Heat Resistance
11.5 Corrosion Resistance
11.6 Pipe Coatings
11.7 Tank Linings
11.8 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 3M CO.
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 AKZONOBEL N.V.
13.3 BASF SE
13.4 HEMPEL A/S
13.5 KANSAI PAINTS CO., LTD
13.6 NIPPON PAINTS CO. LTD.
13.7 PPG INDUSTRIES, INC.
13.8 THE SHERWIN-WILLIAMS COMPANY
13.9 THE DOW CHEMICAL COMPANY
13.10 WACKER CHEMIE AG
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
15. Conclusion
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