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Protective Coatings Market Size

ID: MRFR//6960-HCR | 111 Pages | Author: Chitranshi Jaiswal| May 2024

The protective coatings market is expected an increased of USD 24.55 Billion by 2028 with a CAGR of 5.2% during the forecast period (2022 - 2028).

The Protective Coating Market is an impacted area, because of the various factors that, altogether, are determining its growth and development. An upcoming factor is the demand for protective coatings by the range of industries on shielding the surfaces from the corrosion, wear, and environmental degradation. Industries of automotive, construction, oil and gas as well as marine facilities require protective systems to extend the usage time of equipment, building and material properties. Such demands as to cut down time and expenditure on maintenance, to extend the life of the coating and to bear with heat and cold contribute greatly to the development of the market of advanced protective coatings.

Beyond this, it is the construction sector which assumes primary responsibility for the development of the protective coatings market. Construction Materials, bridges, road and infrastructure are widely coated with protecting coatings to gain resistance against weathering, UV radiation, chemical agents. As the size of the infrastructure sector continues to expand (especially in developing economies), more and more protective paints are required not only in new construction projects but also for renovations and maintenance activities, offering remarkable growth for the entire market.

Moreover auto industry also consumes a great amount of protective coatings: these coatings prevent corrosion, reduce scratches, and add a more attractive appearance. As technology is incorporated into motor vehicles and consumers especially require tough and visually appealing coverings, the need for high-tech protective finishing is on the rise in the automotive industry. Electric vehicles and autonomous driving as well as protective coatings are a more important factor in determining the durability and performance of automotive components.

The oil and gas industry besides being another major playing field in the protective coatings market, it is widely applied in offshore and onshore facilities. Shielding constitutes a vital link in the protection of apparatus subject to corrosion and deterioration in a number of harsh environments, for example, pipelines, storage tanks and drilling platforms. Over the world, the oil and gas sector embark on exploration and production, which increase the need for high protective coatings that cannot be destroyed by corrosive fluids, extreme temperatures, and severe weather conditions.

Technical breakthroughs in the field of protective coatings and the continually improving formulations add to the market dynamics. Manufacturers are always fine-tuning coatings with the improved properties of extended adhesion, increased chemical resistance, and better durability. The nano-technology in protective coating has brought new possibilities with ultra-thin high-performance coatings that offer enlarged level of protection yet present an aesthetic aspect. These developments are tailored to specific industries and help to extoll the usage of the modern protective coatings.

Protective Coatings Market Overview


Protective Coatings Market Size is estimated at a CAGR of 5.2% and USD 24.55 Billion by the forecasted period 2022-2028.


A Protective Coatings is a covering that is applied on the outside of the material to repress erosion. A Protective Coatings is done to decrease consumption by controlling the openness of the material to a Protective climate; it goes about as a boundary between the environment and material surface. For example, zinc coatings over steel forestall the oxidation of steel, in this way, go about as a rust-proof covering. These coatings can be applied by painting, splashing, plating, or welding material. A few materials can be utilized as Protective Coatings. Among which paint is the most generally utilized material for coatings. 


The elements driving the development for the Protective Coatings Market are expanding building and development exercises, growing car industry in the arising economies, and expanding interests in framework improvement, especially in Asia-Pacific and Latin America. Moreover, the utilization of defensive coatings in applications, such as metal coatings, floor coatings, divider and roof coatings, concrete coatings, wood coatings, and rooftop tile coatings, will fuel the worldwide Protective Coatings Market development. 


Besides, expanding concern seeing ecological issues, for example, an unnatural weather change and declining air quality record, has driven natural offices to restrict the utilization of unstable natural mixtures and increment the utilization of waterborne coatings, which is required to fuel the worldwide Protective Coatings Market Outlook development during the figure time frame. 


Covid-19 Impact


The outbreak of COVID-19 has affected the Protective Coatings Market because of the inconvenience of lockdown that had brought about the transitory closure of different assembling units. The pandemic came about in various difficulties for the mechanical coatings market by projecting an adverse consequence on the development and auto areas. The business is expected to show recovery from 2021 onwards, with mechanical and transportation exercises coming on target.


Market Dynamics 


Significant market driver


The variables driving the development for the Protective Coatings Market are expanding building and development exercises, the growing auto industry in the arising economies, and expanding interests in foundation improvement. It goes about as a defensive layer encased by the climate and material region. 


The expansion in the Protective Coatings Market is developing structure and development activities, is spreading in the auto business in the arising countries, and expanding interests in foundation improvement.


Restraints


Developing issues identified with ecological worries, for example, an Earth-wide temperature boost and declining air quality condition file, has driven natural divisions to confine the reception of unstable natural mixtures and rise the use of waterborne coatings, which is expected to push the development of the Protective Coatings Market during the estimated time frame. Elements, likewise expanding need for a new structure in propelling countries and developing ventures to advancing maturing framework in cutting edge economies. Moreover, wavering expenses of crude materials, for instance, colors, added substances, covers and tars, dispersants, relieving specialists, and solvents, are expected to be well on the way to hamper the development of the Protective Coatings Market Share. 


Growth Analysis


Worldwide Protective Coatings Market is developing quickly, expanding private and government interest in framework and developing interest for more excellent items and administrations. Besides, with the huge development and framework development alongside a period of prosperity in created nations, the defensive coatings industry is rapidly turning into an important development of the Protective Coatings Market.


Segment Overview


By Material Type 


The Protective Coatings Market is segmented into Acrylic, Polyurethane, Epoxy, Alkyd, Polyester, and others based on material type. 


Acrylic is considered the biggest section, with a portion of around 42% in 2020. These are impervious to water, synthetic compounds, consumption, and show magnificent shading maintenance. Polyurethane gum is utilized as folios in defensive coatings. Its properties like solidness, scraped spot opposition, sturdiness, and serious shine polyurethane gums are significantly utilized in applications like marine and airplane coatings, oil field gear coatings, and wood covering. 


Alkyd held a huge portion of the worldwide Protective Coatings Market. Therefore, the gum being safe towards mugginess and scraped spot is a decent decision for cupboards and furniture, kitchens, and restrooms. Polyester is UV-safe, and water porous are, for the most part, utilized as decorative coatings for earthenware production, metals, and glass. And the other segment incorporates fluoropolymer and polyether ether ketone. 


By Product Type 


The Protective Coatings Market is segmented as Dissolvable borne, Powder-based, and Water-borne based on the product type. Dissolvable borne is portion held the biggest portion of the Global Protective Coatings Marketin 2020, attributable to its brilliant protection from consumption. They are utilized as defensive coatings, particularly in the structure and development industry. Nonetheless, the guidelines for utilization of VOCs in paints and coatings are required to obstruct the market development. 


Water-borne is relied upon to be the most entrepreneurial portion during the figure time frame. These coatings have low VOC content in this manner, making them a manageable item and expanding their interest. In any case, these coatings are more helpless to ecological changes like temperature and mugginess, contrasted with dissolvable borne, which considers obstructing the fragment's development. 


Powder-based defensive coatings are generally applied as an improving and defensive completion in metals inferable from them being more impervious to blurring, wearing, and scratching than different completions. Force defensive coatings are typically applied by showering onto the outside of the substrate. 


By End-Use Industry 


The Protective Coatings Market is segmented into Building and Construction, Oil and Gas, Aviation and Defence, Auto, Marine, Force Generation, and others based on end-user. 


Building and Construction held the biggest piece of the pie of more than 70% in 2020 and is relied upon to pursue a similar direction during the estimated time frame. They are chiefly utilized in the building section as rust-proof coatings for private and non-private purposes for covering metals, floors, woods, dividers, and others. Auto is segmented to hold the second-biggest portion of the worldwide defensive coatings market, attributable to their need in vehicles to shield the surface from scraped spots, scratches, temperature changes, and water. 


Oil and Gas are owing to the steady contact of seaward hardware with seawater and delayed openness to UV beams prompts the need for defensive coatings like non-slip coatings on decks, fire and warmth safe covering, and high-deceivability tones, which along these lines is relied upon to help the market development. 


Aviation and Defence use defensive coatings to forestall consumption on the material surface at high elevations because of changing natural conditions like dampness and temperature. Force Generation requires high-temperature safe covering in cooling towers and turbines. Water and safe synthetic coatings are needed to forestall erosion of boats and submarines surfaces. Others segment incorporates energy and mining. 


By Region 


The Protective Coatings Market is segmented into Europe, Latin America, North America, Asia-Pacific, and Center East and Africa. North America Market development is driven by aluminum defensive coatings in aviation, auto, and marine ventures. Europe is driven by the presence of worldwide heads of the oil and gas and auto industry. Asia-Pacific is the biggest and most crafty market. Latin American market increases the quantity of gathering plants for cars. Center East and Africa include a strong base oil and gas industry and rising development exercises


Regional Analysis 


The Asia Pacific was the prevailing local section possessing more than fifty-six percent of the income shares in 2020, followed by Europe. The district is projected to represent a huge portion of the overall industry over the estimated time frame because of the climbing interest for Protective Coatings from end-clients, like aviation, auto, mining, power age, mechanical, oil and gas, and others. In the Asia Pacific, China drove the Protective Coatings Market growth both as far as volume and income. 


Major Market Players


The significant players in the Protective Coatings market outlook are mentioned below:



  • PPG Industries (US)

  • AQUAPONICS

  • Asian Paints LTD (India)

  • Alkydprimer

  • AkzoNobel NV (Netherlands)

  • Devoe

  • Jotun (Norway)

  • The Sherwin-Williams Company (US)

  • ARMORSEAL HS


  • Nippon Paint Holdings Co., Ltd (Japan)

  • NIPPON PAINT RED OXIDE METAL PRIMER

  • Royale Matt

  • KANSAI PAINT CO., LTD (Japan)


Recent Developments



March 2023: PPG Industries acquired the assets of Axalta Coating Systems' architectural coatings business. The acquisition is expected to strengthen PPG's position in the architectural coatings market.


April 2023: Sherwin-Williams announced the launch of its new high-performance epoxy coating for the marine industry. The coating is said to be more durable and resistant to corrosion than traditional marine coatings.

Report Overview



  • Market overview highlights the global recognition of¬†Protective Coatings Market Analysis¬†overview

  • Analysis based upon COVID 19

  • Explanation upon the Protective Coatings Market Dynamics

  • Value chain analysis for the¬†Protective Coatings Market Value¬†Report.

  • Market segmentation overview

  • The regional analysis of¬†Protective Coatings Market Trends¬†overview

  • Competitive landscape analysis

  • Recent Developments of¬†Protective Coatings Market Forecast


The report highlights the global Protective Coatings Market Growth development includes its revenue hike's growth potential by the end of the forecast years in 2028.

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