The rise in construction and infrastructure development activities is a significant driver that will impact the growth of the global protective coatings market during the forecast period. Governments in emerging countries such as India, China, Australia, Indonesia, and Vietnam are heavily investing in infrastructure and residential projects. This will boost the construction market and lead to an increase in demand for protective coatings.
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In this report, Technavio highlights the increasing demand for waterborne coating as one of the key emerging trends to drive the global protective coatings market:
Global protective coatings market: Introduction of rugged OTG pen drives
The waterborne coating uses water as a solvent. Solvent-borne coatings dominate the global protective coatings market. However, these coatings emit VOCs which are hazardous to human health as well as the environment. Various regulatory restrictions have been imposed on the use of these solvents which has led to the development of various water-borne solvents.
According to a senior analyst at Technavio for paints, coatings, and pigments research, “Water-borne coatings are eco-friendly in nature and emit a low amount of VOC in the air. Moreover, these coatings do not need any kind of thinner or hardener because of which they are more cost-effective than other coatings.”
Global protective coatings market: Segmentation and analysis through 2022
This market research report segments the global protective coatings market by end-user (infrastructure and construction, oil and gas, automotive, aerospace, and others) and key regions (the Americas, APAC, and EMEA).
The infrastructure and construction segment dominated the market with a market share of close to 40%, closely followed by the oil and gas segment. The infrastructure segment is expected to witness an increase in its market share over the forecast period, while all the other segments will decline or see a very marginal increase in their market shares.
In 2017, the global protective coatings market was dominated by APAC with a revenue share of 67% followed by EMEA and the Americas respectively. The market share of APAC is expected to increase by a further 2% during the forecast period while EMEA and the Americas will see a decline in their market share.
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