The global Protective
Coatings Market size is expected to reach USD 50.86 billion by
2025, expanding at a CAGR of 7.7% over the forecast period, according to a new
study published by Grand View Research, Inc. Rising demand from aerospace
industry is expected to fuel the growth.
Protective
coatings are widely used in aerospace application such as in exterior topcoats,
fuel tanks, anti-chafe, wings, and others. They provide protection to equipment
and assemblies against erosion, corrosion, chemical attack, and abrasion, and
thereby help extend the life and efficiency of components. The demand for
aerospace and defense equipment is anticipated to witness significant growth
across the globe over the forecast period. The resurgence of global security
threats coupled with growth in the defense budget of key nations are expected
to drive the aerospace industry in the forthcoming years.
Based
on resin segment, epoxy is anticipated to expand at the highest growth rate
over the forecast period. Epoxy resin offer high flexibility and abrasion and
corrosion resistance, thus, paving their way for use as protective coating in
various end use industries such as automotive, construction, oil and gas,
mining, power generation, marine, and others.
Water
borne segment is projected to witness substantial growth during the forecast
period. It is widely used in household applications and confined and poorly
ventilated spaces. They have low Volatile Organic Compound (VOC) content, thus,
making them more eco-friendly compared to their counterparts. This coating is
used where solvent-borne coatings are anticipated to react with the substrate.
Waterborne coating is an ideal primer on account of its properties including
excellent thermal and corrosion resistance.
Based
on end user, industrial segment is projected to grow significantly over the
next seven years. Industrial machinery is exposed to high temperatures,
corrosive fluids, and gases that can deteriorate it. Protective coating is used
for heat exchangers, boilers, transformers, containers, and material handling
equipment to protect them from heat and humidity. They provide the equipment
with improved impact and abrasion resistance due to their impermeability.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/protective-coatings-market
https://www.grandviewresearch.com/industry-analysis/protective-coatings-market
Further key findings from the report suggest:
- Asia Pacific
was the dominant regional segment in 2018, driven by ascending demand
from end users such as aerospace, automotive, mining, power generation,
industrial, and oil and gas
- China is the
fastest growing country in Asia Pacific on account of the growing
construction industry
- Epoxy
segment is potentially fueling the protective coatings market growth owing
to its rising demand in various end-use industries
- Market
players engage in various strategic initiatives to gain greater market
share. For instance, in February 2017, Akzo Nobel N.V. invested USD 14.14
million in the development of an R&D facility in Felling, U.K. The new
facility is engaged in the development of new protective coatings for
energy, mining, infrastructure, and oil and gas industries
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment