Overview:

The global protective coatings market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Protective coating is a thin layer of material that protects the surface or applied area from external environment factors such as dust, moisture, and corrosion. The protective coatings are also called as barrier coatings.

Market Dynamics:

Growing residential and commercial construction projects across the globe is a key factor driving growth of the global protective coatings market. Also, growing product advertisement through various social media platforms is another factor influencing the market growth positively. The social media advertising is resulting into increased preference for protective coatings among individuals to protect the color of their houses from dust and sunlight.

In addition, increasing product advancement by key players and rising number of cost effective product launches are some other key factors supporting growth of the target market. For instance, in October 2018, Axalta Coating Systems, LLC has launched its new protective coating brand, Corroless. This brand covers product portfolio of long term chemical and corrosion resistant paint products.

Moreover, increasing sales of passenger vehicles and expansion of electronics industry are among the other factors expected to propel growth of the global protective coatings market over the forecast period.

Key Trends:

Rising strategic initiative by key player to tap the maximum consumer base is a key trend witnessed in the global protective coatings market. For instance, in November 2020, CIN, S.A. – a coating product manufacturer has launched separate website for performance and protective coatings. This strategic initiative is expected to increase the market reach of the company in the near future.

Regional Analysis:

For detailed understanding of market dynamics, the global protective coatings market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region dominates the global market with highest market share. In addition, the region is expected to witness highest growth over the forecast period. This is attributed to rising consumer base, increasing construction projects, and growing spending capacity of individuals in countries in the region. Additionally, economic growth of the countries such as China, India, and Japan is resulting in growing industrial construction which is another factor expected to propel the market growth during the forecast period.

However, the target market in the Europe and Middle East & Africa region is expected to witness considerable growth in the next 10 years.

Scope of the Report:

Detailed Segmentation:

Global Protective Coatings Market, By Formulation:

• Solvent Borne
• Water Borne
• Powder Based

Global Protective Coatings Market, By Resin Type:

• Acrylic
• Epoxy
• Polyurethane
• Alkyd
• Polyester
• Other Resin (Fluoropolymer and Phenolic)

Global Protective Coatings Market, By End Use Industry:

• Infrastructure & Construction
• Oil & Gas
• Aerospace
• Marine
• Industrial
• Automotive
• Mining
• Other Industries (Power Generation, Electronics, and Pulp & Paper)

Key Players Covered:

Key players operating in the global protective coatings market includes BASF SE, PPG Industries, Inc., RPM International, Inc., Arkema SA, Sherwin-Williams Company, Dow Chemical Company, Kisco Limited, Dow Silicones Corporation, Akzo Nobel N.V., and Wacker Chemie AG.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Protective Coatings Market by formulation, resin type, end use industry, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global protective coatings market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.