The global
market is segmented according to raw material, end-users, and regions. Raw
materials dependent on producing these coatings are hydrocarbon or cellulosic
based. The former have large market shares, while the latter will exhibit a
high growth rate due to its application across marine, automotive, and
construction industries. Hydrocarbon coatings have significant returns in terms
of revenue due to their increased use in oil & gas sector.
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End-users
entail automotive, construction, and oil & gas sectors. Oil & gas led
the intumescent coatings market due to the exploration & production
activities of shale gas and other fossil fuels. Construction sector will see an
upsurge due to the increase in infrastructure projects in South America and
Asia Pacific. Car safety laws are likely to augment market demand in the
automotive sector in the next seven years.
Regions
covered under the market are Latin America, North America, Asia Pacific (APAC),
Middle East & Africa (MEA), and Europe. Asia Pacific and Europe currently
have maximum shares of the market, but Europe will face dull growth in the
coming years. North American market is market by product developments and
innovative breakthroughs. MEA will experience significant growth due to the
growing infrastructure sector and concurrent interest in the oil & gas
sector.
Prime
companies dominating the market are Akzo Nobel N.V.; Hempel Marine Paints; The
Jotun Group; and Rudolf Hensel GmbH. They have been reigning on account of
procuring raw materials at low cost. Products with better performance and a
longer shelf life will garner maximum market shares. But a stable distribution
cycle ranging from manufacturer to end-user will pose a challenge to new market
players.
Related Reports @
Composite
Coatings Market: Composite coatings are majorly carbon composites mixed with epoxy resins.
The increased usage of composite coatings in end application industries is
expected to drive the market demand.
Conformal
Coating Market: Demand from
industries, such as automotive and consumer electronics can drive the conformal
coating market from 2016 to 2024.
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Hexa Research
Felton Office Plaza
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Email: sales@hexaresearch.com
Website - https://www.hexaresearch.com/
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Contact Us:
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com
Website - https://www.hexaresearch.com/
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