Protective Coatings Market Size Worth $22.5 Billion By 2030 | CAGR: 5.5% : – Witness the Evolving Trends with ChemView Consulting’s Report

Protective Coatings Market Overview

According to a research survey conducted by ChemView Consulting, in 2022, the Global Protective Coatings Market was worth US$ 14.7 Bn and is expected to grow at a CAGR of 5.5% over the forecast period. The market is expected to hit US$ 22.5 Bn by 2030 end.

A protective coating is the most effective way to protect a surface and structure from damage, whether a product or a whole infrastructure. It is becoming increasingly important since it significantly cuts maintenance expenses. In industrial applications, protective coatings may save a significant amount of money on machinery that would otherwise be lost due to maintenance or repair.

Protective coatings market growth is affected by various factors, including increased investments to update aging Infrastructure in established nations and rising demand for new Infrastructure in developing economies.

Protective Coatings Market 2017-2030: Report Key Highlights

  • Detailed information on factors that will assist Global Protective Coating’s growth during the next eight years
  • Assessment of the historical and current Global Protective Coatings Market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
  • The growth of the market across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
  • Segment-wise, country-wise, and region-wise market analysis
  • Key drivers, restraints, opportunities, and key emerging trends impacting market growth
  • Predictions on critical supply, demand, and technological trends and changes in consumer behavior
  • Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
  • Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
  • Covid-19 impact on the market and how to navigate
  • Strategic market analysis and recommendations on crucial winning strategies

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Segments Covered in Report

By Technology:

  • Solvent-based
  • Water-based
  • Powder coatings and others

By Resin Type:

  • Epoxy
  • Polyurethane
  • Acrylic
  • Alkyd
  • Zinc
  • Others

By End-Use:

  • Offshore structures/Oil&Gas – Exploration, Production & Transmission
  • Petrochemical – Refineries & chemical processing
  • 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

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways

By End-Use: Civil construction and Infrastructure is the fastest-growing end-use business for protective coatings. The fundamental goal of protective coatings is to shield structures from solvents, dust, fungus, corrosion, humidity, and other threats that might compromise the structure’s stability and performance. Waterproofing solutions are also provided by protective coatings, preventing water leaks.

Protective coatings operate as a barrier, allowing structures such as buildings, dams, wells, bridges, floors, wood finishes, and external and interior walls to function in harsh conditions and circumstances.

By Resin Type: The epoxy resin has the largest market share and is expected to retain this trend over the projection period. The capacity of epoxy resin to tolerate severe cold and heat is highly valued. Another benefit of Epoxy is that it dries quickly, resulting in fewer manufacturing delays. Epoxy is also resistant to chemicals, oil leaks, and scratches when the coating is curing. It keeps the covering from deteriorating.

By Region: Regarding volume, the Asia Pacific protective coatings market is predicted to grow at the fastest CAGR during the forecast period. By 2031, the region’s market is estimated to account for 2/5 of the worldwide protective coatings market volume. In 2021, Asia Pacific was the dominating regional sector, accounting for more than 39.4% of sales.

Competition Summary

Market participants are improving their supply chains to remain competitive.

Key companies covered in the market study are Akzo Nobel N.V, PPG Industries Inc, The Sherwin-Williams Company, Arkema S.A, Wacker Chemie AG, Sika AG, RPM International Inc,  Axalta Coating Systems, Hempel A/S, Novatic The Coatings Group, Corbion NV, Berger Paints India Limited, Jotun, Carboline, and Tnemec Company.

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