Protective Coating Market – Global Industry Analysis And Forecast (2023-2029)

Protective Coating Market was valued at US$ 13.83 Bn. in 2022. The Global Protective Coating Market size is estimated to grow at a CAGR of 8.1% over the forecast period.
Protective Coating Market Overview:
The report explores the Protective Coating market's segments (Material Type, Technology, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Protective Coating market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Protective Coating market's contemporary competitive scenario.To know about the Research Methodology :- Request Free Sample Report
Protective Coating Market Dynamics:
Increasing Demand for Infrastructure and Construction:

The protective coating is applied to various surfaces for their protection from elements that are harmful and can affect the item’s function or integrity. A protecting coating is used for reducing erosion. The growth of Construction, Automotive, oil and gas, industrial, mining, power generation, and other markets have contributed to the rising demand for the protective coating market. The coating increases the life of the structures and safeguards the new or repaired concrete surfaces from physical and chemical damage from the environment. These factors are driving the growth of Protecting Coating market during the forecast period.

The Increasing Price of Raw Materials and Energy:

These protective coatings are very costly. As these require crude oil for their manufacture. The prices of crude oil and the changing foreign currency fluctuations are increasing the price of raw materials. Hence the manufacturing cost of the protective coatings is also rising. Manufacturers are also suffering due to the increase in taxes on energy, resulting in higher operating costs and lower profits.

Strict Regulations for Volatile Organic Compounds:

The Protective Coatings are composed of liquifying elements that get evaporated when it is exposed to oxygen during a chemical process. These emissions are called Volatile Organic Compounds (VOCs) and harmful air pollutants (HAPs). Hence not only this market is concerned with safeguarding the structures but also the environment. The company’s manufacturing of the protective coatings is bound for minimizing the production of VOCs they produce due to the strict regulations of the environment.

Increasing Demand for the Maintenance of Existing Substratum:

Protective Coatings are used for increasing the lifespan of new and existing substrates. Many industries have systems that are on continuous operations and are exposed to external environment changes. This deteriorates the system’s structure and declines its efficiency. This further leads to the shutdown or stoppage of the whole operation. The protecting coatings are used in preventing these issues and also save the shutdown cost.
Protective Coating Market Trends:
Urbanization has led to an increase in infrastructure and construction. Infrastructure and Construction is the segment of the Protective Coating market holding the maximum market shares. Protective coatings help the structures by providing waterproofing solutions so that the structures become leakage free. The government is also investing more in infrastructure for building a strong economy. This is creating an upcoming demand for the protective coating market and further growth can be seen during the forecast period.
Protective Coating Market Segment Analysis:
Based on Resin Type, the Protective Coating Market is segmented into epoxy, polyurethane, alkyd, acrylic, inorganic zin, and others. The epoxy segment is holding the major share of the market accounting for 31% in 2022, and it is expected to maintain it during the forecast period. Epoxy coatings can resist extreme weather and also it dries quickly causing a minimum delay in production.

Based on End User, the Protective Coating Market is segmented into Infrastructure & Construction, oil and gas, Industrial, Marine, Automotive, Power Generation, Mining, and others. The infrastructure and construction segment holds the maximum share of the market. Due to the increase in the construction sector, the use of these coatings is also increasing. These factors are driving the market.
Protective Coating Market Regional Insights:
The Asia Pacific region held the largest market share accounting for 40% in 2022. This is due to the increasing demand from end-users like Aerospace, oil and gas, construction, and others across the region. `

The European region is expected to witness significant growth at a CAGR of 8.1% through the forecast period. As the government has taken initiatives for preventing the corrosion of bridges and other infrastructures for improving their durability and appearance, which will further drive the market forward.

The objective of the report is to present a comprehensive analysis of the global Protective Coating Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Protective Coating Market dynamic, and structure by analyzing the market segments and projecting the Protective Coating Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Protective Coating Market make the report investor’s guide.
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Protective Coating Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 13.83 Bn.


Forecast Period 2023 to 2029 CAGR:
8.1%
Market Size in 2029:
US$ 23.86 Bn.


 Segments Covered:
by Resign Type
Epoxy
Polyurethane
Alkyd
Acrylic
Inorganic zin
And others


by Application
Solvent-based
Water-based
Powder-based
And others


by End Users
Infrastructure and construction
Oil and gas
Industrial
Marine
Automotive
Power generation



Protective Coating Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Protective Coating Market Key Players:
1.Akzo Nobel N.V.
2.PPG Industries Inc.
3.The Sherwin-Williams Company
4.The Valspar Corporation
5.Jotun
6.Hempel Group
7.Kansai Paints Co. Ltd.
8.Axalta Coating Systems
9.Sika AG
10.Nippon Paint Holdings Company Limited
11.Arkema Group
12.Kansai Paint Company Limited
13.RPM International, Inc.
14.Wacker Chemie AG
15.Valspar Corporation.
16.Protective Coating System - PCS
17.Kroonint Protective Coating
18.Valmont Industries, Inc.
19.Graco
20.Nanto Protective Coating
21.Saveto Group
22.Graco Spray Foam and Polyurea Equipment
23.ProCoat Specialities Pvt. Ltd.

Frequently asked questions

(1) Which industry is influencing the growth of the Protective Coatings Market?
Ans: The Infrastructure and construction segment is influencing the growth of the Protective Coating Industry.

(2) Who are the Major Key Players?
Ans: The Akzo Nobel N.V., PPG Industries Inc., The Sherwin-Williams Company, The Valspar Corporation, Jotun, Hempel Group, Kansai Paints Co. Ltd.

(3) Why the protective coating market is gaining importance?
Ans: The protective coating is applied to various surfaces for their protection from elements that are harmful and can affect the item’s function or integrity. A protecting coating is used for reducing erosion. The expansion of Construction, Automotive, oil and gas, industrial, mining, power generation, and other markets have contributed to the rising demand for the protective coating market.

(4) What are the end-users of the protective coating market?
Ans: Infrastructure and construction, Oil and Gas, Industrial, Marine, Automotive, and Power generation.

(5) What is the expected CAGR of the forecast period?
Ans: The market is expected to grow with a CAGR of 8.1% during the forecast period.