Global Protective Coatings Market 2019-2023 | 10% CAGR Projection Through 2023 | Technavio

LONDON--()--The global protective coatings market is expected to post a CAGR of almost 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

Water-borne coatings are increasingly being used in the aerospace, oil and gas, marine, power generation, mining, automotive, and other industries, as it has low VOC emissions, toxicity, and flammability. These coatings are also environmentally friendly and cost-effective compared to their solvent-based counterparts as they do not require additives, thinners, or hardeners. Also, the quantity of water-borne coatings needed for a surface area is relatively lower than other coatings. Such factors will lead to the growth of the global protective coatings market.

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As per Technavio, new plants and capacity expansion will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Protective Coatings Market: New Plants and Capacity Expansion

Vendors in the market are significantly investing in the development of advanced industrial coatings. Some are focusing on strengthening their global presence by expanding their manufacturing capacities. For instance, in 2018, Axalta Coating Systems opened its new manufacturing facility in Gujarat, India, to cater to the demand from the automobile and industrial sectors. The expansion of many such manufacturing facilities is leading to the growth of the global protective coatings market.

“Increasing focus on UV-curable coatings and nanocoatings and the emergence of green coating technology will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Protective Coatings Market: Segmentation Analysis

This market report segments the global protective coatings market by technology (solvent-borne, water-borne and powder coating), resin (epoxy, alkyd, polyurethane, and others), end-users (infrastructure and construction, oil and gas, automotive, aerospace and others) and geography (Americas, APAC and EMEA).

The APAC region led the market in 2018, followed by EMEA and the Americas, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the growing demand for automobiles and related components in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com/

Release Summary

The global protective coatings market is expected to post a CAGR of almost 10% during the period 2019-2023, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com/