Protective coatings are used to provide protection of the substrate against the elements and at the same time to provide a decorative finish to the final coated product. The very thin paint layer of protective coatings forms a barrier to protect the substrate against harmful deterioration. Protective Coatings offers anticorrosive and fire production coatings and services to industrial steel structures, including oil and gas, power generation, other industrial installations and commercial buildings.
Global protective coatings market is growing rapidly with the increase of private and government investment in infrastructure and the growing demand for higher quality products and services. Furthermore, with the significant growth in construction and infrastructure along with economic boom in developed countries, the protective coatings industry is quickly becoming a strategic growth market.
On the basis of formulation, the market is segmented into solvent-borne, water-borne, powder and others. However, according to the Paint Quality Institute (PQI), which is a paint advising and testing organization, water-based coatings make up about 80 percent of household paints sold today. Also, the use of water-borne protective coatings is increasing due to legislation on the emission of solvents (volatile organic compound) from paints.
Amongst the various end use markets, power generation and downstream oil and gas markets are growing at a fast pace and there is particularly strong growth in the offshore wind power market.
Global protective coatings market is segmented into resin type, type, end user and regions. On the basis of formulation, the market is segmented into solvent-borne, water-borne, powder and others. On the basis of resin type, the market is segmented into epoxy, polyurethane, acrylic, alkyd, polyester and others. On the basis of type, the market is segmented into organic and metallic. On the basis of applications, the market is segmented into infrastructure & Construction, aerospace, automobile, oil & gas, power generation, mining and others. On the basis of geographic regions, the protective coatings market is segmented into Asia-Pacific, Europe, North America, and Middle East & Africa.
Oil & gas industry is poised to dominate this market during 2016-2021. However, construction as well as Automotive is comprehended to witness prominent CAGR of XX% and XX% respectively during the same period. Escalating demand for safe coatings is propelling the growth of Protective Coatings market.
Sample companies profiled in this report are:
- PPG Industries (U.S.),
- RPM International (U.S.),
- Axalta Coatings Systems (U.S.),
- The Sherwin-Williams Company Limited (U.S.),