Specialty Coatings Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Specialty Coatings Market grew at a CAGR of 6.4% between 2017-2021 and is estimated to be US$ 8,236.5Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 7.2% and is expected to reach a valuation of US$ 16,507.9Mn by 2032 end.
Specialty coatings are a particular type of coating that meets certain applications’ performance requirements. The fundamental definitions of topcoat, primer and self-priming are all met by specialty coatings. Enhanced corrosion protection, antireflection, sealing, substrate compatibility, temporary protection, good adhesive characteristics, and fire or temperature resistance are a few advantages of specialized coatings.
ChemView Consulting has analyzed that growth in the specialized coatings market is anticipated over the projected period. The expansion of specialty coatings is expected to be fueled by a favorable prognosis for the global paints and coatings market and rising end-use specific coating materials demand. Over the projection period, it is anticipated that growing consumer demands for high performance, increased durability, and extended service life will boost demand for specialized coatings.
The polyurethane sector dominated 45.9% of the market. Due to considerations including ease of use and the abundance of polyurethane footwear on the market, the polyurethane sector held the largest market share.
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Segments Covered in Report
By Product Type:
- Solvent-borne Coatings
- Waterborne Coatings
- Powder Coatings
- High Solids/Radiation Curing
- Others (Specialty Coatings)
By Material Type:
- Polyester
- Acrylic
- Alkyd
- Epoxy
- Polyurethane
- Others
By Application:
- Non-Architectural
- Wood
- Automotive & Transportation
- General Industrial
- Protective
- Marine
- Others
- Architectural & Decorative
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 from the Specialty Coatings Market
- Based on the material type, today, one of the most often utilized conformal coatings is acrylic resin (AR). To apply the coatings to surfaces, pre-formed acrylic polymers that are single-component materials are dissolved in a solvent.
- Based on the region, with a 45.1% share, the Asia Pacific region accounted for the most worldwide revenue. Expanding building activity and rising automobile sector demand, particularly in emerging nations like India, China, Korea, and Southeast Asia, are expected to drive market expansion in the future years.
Competition Summary
Key companies covered in the market study are Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Jotun, Axalta Coating Systems, LLC, RPM International Inc., Henkel AG & Company, KGaA, BASF SE, Kansai Paint Co., Ltd., Hempel A/S, Nippon Paint Holdings Co., Ltd., Sika AG, Beckers Group, 3M, The Chemours Company
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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