DUBLIN--(BUSINESS WIRE)--The "High Performance Coatings Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global high performance coatings market is expected to grow at a CAGR of over 5% during the forecast period of 2019-2024
The major factors driving the market studied include increasing construction activities in the United States and Asia-Pacific. Solvent-based adhesives are being phased out to reduce VOC emissions; this is expected to significantly hinder the growth of the market studied.
- Asia-Pacific is expected to dominate the global market during the forecast period.
- By End-user industry, building & construction industry is expected to witness the highest demand for high performance coating during the forecast period.
Key Market Trends
Growing Demand from Building & Construction Industry
- High performance coatings provide the following facilities such as exceptional corrosion protection, abrasion resistance and high resistance to impact, excellent chemical and thermal resistance, extreme durability & strength, and also contributes to the aesthetics as well.
- The global construction sector is expected to expand in real terms, by an annual average of 3.2% in the coming decade, to a nominal value of more than USD 6.0 trillion.
- Rapid increase in population, in regions of developing nations, is expected to give a rise in demand for the residential construction, which, in turn, augments the usage of high performance coatings.
- The key areas of expected growth are social infrastructure, schools, hospitals, government accommodation, water, defense infrastructure, and water resources.
- In the non-residential construction, the major growth was witnessed in healthcare, commercial, and office buildings. The investment in transportation, communication, and power infrastructure has also witnessed growth in 2017 and 2018. All these factors are expected to improve the demand for the studied market.
China to Dominate the Demand in Asia-Pacific Region
- China is expected to dominate the high performance coatings market in Asia-Pacific and is also likely to witness the fastest growing demand.
- The market is estimated to witness a healthy growth over the assessment period, due to rising construction activities, along with the high adoption rate from various end-user industries such as, industrial, and aerospace & defense sector.
- In China, the housing authorities of Hong Kong have launched various measures to push-start the construction of low-cost housing.
- Additionally, the government has rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next ten years, despite efforts to rebalance its economy to a more service-oriented form. This is likely to boost the demand for high performance coatings in the country.
- China is aiming high in the aerospace business. Its focus is on both commercial aircraft, as well as fighter jets. Over the next 20 years, both the European and the American aerospace giants forecast that China would become their biggest single market, due to the demand for new aircraft by Chinese airlines, which are keen to meet the rising middle classes' desire for air travel.
- Furthermore, countries such as India and Japan have also been contributing to the growth of the market studied. Overall, the demand for high performance coatings is expected to increase in the during the forecast period.
The global high performance coatings market is partly consolidated in nature. Some of the major players of the market studied include, PPG Industries Inc., Akzo Nobel NV, Hempel Group, Daikin Industries Ltd., and The Sherwin-Williams Company, among others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Construction Activities in the United States and Asia-Pacific
4.1.2 Other Drivers
4.2.1 Solvent-based Adhesives are being Phased Out to Reduce VOC Emissions
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.5 Environmental Regulations
5 MARKET SEGMENTATION
5.1.8 Others (Polyether Sulfone (PES), Vinyl-Ester, etc.)
5.2 Coating Technology
5.3 End-user Industry
5.3.1 Building & Construction
5.3.2 Automotive & Transportation
5.3.4 Aerospace & Defense
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel NV
6.4.2 Daikin Industries Ltd.
6.4.3 PPG Industries Inc.
6.4.4 Kansai Nerolac Paints Limited
6.4.5 Metal Coatings Corp.
6.4.6 Toefco Engineered Coating Systems Inc.
6.4.7 Endura Coatings LLC
6.4.8 Beckers Group
6.4.9 Nippon Paint Holdings Co. Ltd.
6.4.10 The Sherwin-Williams Company
6.4.11 AFT Fluorotec Ltd
6.4.12 The Chemours Company
6.4.13 Hempel Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/fpkl19