Epoxy Coatings Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - Chemical & Materials
Report Code - OMR-CM-246
Format: PDF, PPT, and Excel
Epoxy Coatings Market to Extract a CAGR Rate of 4.9% During Forecast; Factors such as Rising Urbanization Among Emerging Economies, Increasing Demand from the Transportation Sector, and Water-Borne Coatings Contribute Value
A durable, enduring epoxy coating protects carbon steel containers from the elements. Epoxy compounds are resistant to abrasion, turbulence, chemicals, and high temperatures, among other environmental hazards. Epoxy coating is resilient and resistant to numerous forms of corrosion. Epoxies are commonly used as coatings for a variety of industrial materials.
Despite a discernible shift in the paints and coatings industry's general trend in response to projections, notable differences have emerged between market sectors. As a result of the initial outbreak of the COVID-19 pandemic in Asia and the subsequent quarantine and detection procedures, the region's market performance has fallen, risen, and then declined by 1% compared to the previous year.
Key Takeaways of the Epoxy Coatings Market
By Type
As a substitute for solvent-based coatings that are less eco-friendly, hazardous to people's health, and emit substantial quantities of volatile organic compounds (VOCs), water-based coatings dominate the market.
By Region
This region is highly effective due to the shift of paint and coating manufacturers into service providers. Manufacturers also offer painting services, which expert contractors perform. The epoxy coatings market will benefit from India's anticipated faster growth than China's.
Urbanization in Developing Nations and Rising Demand for Construction to Support Growth
Epoxy coatings are enduring coatings that are utilized in a variety of contexts. Epoxy coatings applied in the form of concrete floor paints are frequently advantageous for industrial and commercial floors. It is implemented on concrete surfaces in airports, warehouses, shops, factories, hospitals, exposition halls, garages, and other commercial and industrial settings. The construction industry is thriving in countries such as the United States, China, and India.
Increasing Use of Epoxy Coating in Automotive Sector to Drive Revenue
Epoxy coatings give significant advantages in the transportation industry for rust and corrosion protection of automobile body elements. On metal components, anti-corrosion compounds consisting of a thin epoxy coating are typically applied. Because they adhere to damp substrates, epoxy coatings protect water containers, outfall structures, fishing ladders, dams, and other concrete and steel maritime structures. When applied in water suspension, epoxy coatings are used as primers and two-component liquid marine coatings for automobiles.
Global Epoxy Coatings Market Prominent Players
• PPG Industries, Inc. (U.S.)
• Kansai Paint (Japan)
• RPM International Inc. (U.S.)
• The Valspar Corporation (U.S.)
• MBCC Group (Germany)
• AkzoNobel (Netherlands)
• Sherwin-Williams Company (U.S.)
• Asian Paints (India)
• BASF (Germany)
• Axalta Coating Systems LLC (U.S.)
Report Scope for Epoxy Coatings Market
Type
• Solvent-based
• Water-based
• Powder-based
Application
• Building & Construction
o Residential Construction
o Commercial Construction
o Industrial Construction
• Automotive
o Passenger Cars
o Commercial Cars
• Transportation
• Others
o Oil & Gas
o Food & Beverages
o Power Generation
o Other Industries
Epoxy Coating Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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