Protective Coatings Market

Protective coating market was estimated at USD 14,708 million in 2022 and is predicted to reach USD 22,573.1 Million in 2030 and is anticipated to grow at 5.5% CAGR during the forecast period.

Introduction of the Protective Coatings Market Report

A protective coating is a material applied to the surface of another material to inhibit or prevent corrosion. A protective coating can be metallic or non-metallic, and it can be painted, sprayed, plated, or welded onto a material. An essential consideration for protective coating is to ensure the coating is well adhered to the metal and remains intact or regularly repaired/recoated.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global protective coatings market include increasing infrastructure development worldwide. The construction industry needs several protective coatings to meet the requirements of different applications such as flooring, wood finishes, interior & exterior, and others. In general, construction coatings protect surfaces from various external and environmental elements, including sunlight, UV exposure, acid rain, and corrosion. According to the U.S. Census Bureau, in October 2021, construction spending was estimated at a seasonally adjusted annual rate of USD 1598 billion, 0.2% above the revised September estimate of USD 1594.8 billion. The growing automotive industry in emerging economies will boost the market during the forecast period. Due to the increasing expectations of consumers, the international automotive industry is required to extend vehicles warranties. Thus, improvements in corrosion protection are becoming increasingly important. The product range of decorative coatings covers technologies for the entire spectrum of decorative and functional surface treatment for various materials, including steel, aluminum, and even plastics. According to the International Organization of Motor Vehicle Manufacturers, in 2020, the global sales of all vehicles were 77.9 million.

Restraint in the Protective Coatings Market

However, protective coatings require touch-ups and maintenance on a regular basis. This factor can act as a restraint and hamper the market growth during the forecast period.

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Resin Type – Segment Analysis

Based on the resin type, epoxy is anticipated to grow at higher CAGR during the forecast period. An epoxy coating consists of two distinct elements, an epoxy resin and polyamine hardener, also known as a catalyst. When resin and hardener are mixed, a chemical reaction creates cross-linking of the elements as it cures. The resultant product is a durable, rigid coating with numerous desirable mechanical properties when the epoxy coating is cured.

End-Use Industry – Segment Analysis

Based on the end-use industry, the construction segment is predicted to grow at a higher CAGR during the forecast period. The protective coating enhances durability and protects the structure from fire, corrosion, and UV radiation. It is used to boost thermal resistance and reduce the impact of corrosive gases on industrial structures. For instance, Sika AG offers permanent anti-graffiti and antifly poster coating to protect concrete, wood, masonry, and metal.

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Regional – Segment Analysis

Based on the region, Asia Pacific is anticipated to grow at higher CAGR during the forecast period due to increasing infrastructure development activities. According to the IBEF, in November 2021, India, the U.S., Israel, and UAE established a new quadrilateral economic forum to focus on infrastructure development projects in the region and strengthen bilateral cooperation. In India’s Union Budget 2021, to support the initiatives such as Housing for All and Smart Cities Mission, the government allocated USD 1.86 billion to AMRUT and Smart Cities Missions. Furthermore, growing industrialization with growing demand from several end-use industries will further propel the demand in the coming years.

 

Top Market Players

Various notable players operating in the market, include, Sika AG, PPG Industries, Inc., The Sherwin-Williams Company, Hempel A/S, Jotun, Akzo Nobel N.V., Cerakote, Clariant, Dulux Protective Coatings, Kansai Paint Co.,Ltd, among others.

Key Developments:

• • In 2021, Dulux Protective Coatings announced to provide safety and protection for Melbourne’s major Victorian drinking water project. They specified a three-product system to protect the steel surfaces on the tank exterior. The first coat of Zincanode 402 to ensure the tank meets the Australian standard for long-term galvanic corrosion protection. Durebild STE was applied next to give the tank a heavy-duty epoxy finish, Weathermax HBR was selected as the final coating.

Segments Covered in the Report:

The global protective coatings market has been segmented on the basis of technology, resin type, application, end-use industry and regions. Based on technology, the market is segmented into solvent based, water based, powder coatings and others. Based on resin type, the market is segmented into epoxy, polyurethane, acrylic, zinc, and others. Based on end-use industry the market is segmented into oil & gas, aerospace, marine, automotive, power generation, industrial, construction, and others.

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Key questions answered in this research report:

• • At what pace is global protective coatings market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in protective coatings market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global protective coatings market?
  • Which technology generated maximum revenues in 2020 and identify the most promising technology during the forecast period?
  • What are the various resin types of global protective coatings market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

 

Report Coverage	Details
Market Revenues (2022)	USD 14,708 million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Technology, By Resin Type, By Application, By End-Use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Sika AG, PPG Industries, Inc., The Sherwin-Williams Company, Hempel A/S, Jotun, Akzo Nobel N.V., Cerakote, Clariant, Dulux Protective Coatings, Kansai Paint Co.,Ltd, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Protective Coatings Market by Technology

• • Solvent Based
  • Water Based
  • Powder Coatings
  • Others

Global Protective Coatings Market by Resin Type

• • Epoxy
  • Polyurethane
  • Acrylic
  • Alkyd
  • Zinc
  • Others

Global Protective Coatings Market by End-Use Industry

• • Oil & Gas
  • Aerospace
  • Marine
  • Automotive
  • Power Generation
  • Industrial
  • Construction
  • Others

Global Protective Coatings Market by Region

• • North America Protective Coatings Market (Option 1: As a part of the free 25% customization)

    • By Technology
    • By Resin Type
    • By End-Use Industry
    • US Market All-Up
    • Canada Market All-Up

  • Europe Protective Coatings Market (Option 2: As a part of the free 25% customization)

    • By Technology
    • By Resin Type
    • By End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Protective Coatings Market (Option 3: As a part of the free 25% customization)

    • By Technology
    • By Resin Type
    • By End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Protective Coatings Market (Option 4: As a part of the free 25% customization)

    • By Technology
    • By Resin Type
    • By End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Protective Coatings (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sika AG
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Hempel A/S
  • Jotun
  • Akzo Nobel N.V.
  • Cerakote
  • Clariant
  • Dulux Protective Coatings
  • Kansai Paint Co.,Ltd