Protective coatings continue to be in demand for their superior performance over other conventional finishes on the market. Greater endurance, corrosion and weather resistance, and enhanced aesthetics are expected to remain the key push factors behind surging adoption of protective coatings for a variety of industry applications, as well as surfaces like metal, wood, plastics, and even concrete. The latest upcoming study of Fairfield Market Research suggests that the widespread availability of protective coatings in a range of finishes and colours will continue to drive the growth of global protective coatings market in future.
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Soaring demand from civil building and infrastructure industry, especially for floorings, ceilings, wood finishes, doors, interior and exterior walls, swimming pools, and bridges is likely to keep the sales afloat. In addition, growing uptake of protective coatings by transportation industry for painting of automobiles, trains, and airplanes will account for considerable demand growth. Increasing preference for convenience products such as anti-rust, anti-erosion coating paint sprays is also expected to heighten the growth prospects of protective coatings market. Increasing demand for protective coating products to maintain ageing infrastructure, buildings, bridges, and even pipelines will further uphold the climbing growth trajectory of the market.
Epoxy Protective Coatings Remain Sought-after Despite Higher Price Point
Every industry that strives to maintain high quality and standards tends to prefer protective coatings and coating products for extending the life of a wide range of surfaces. While industry offers a multitude of coating types for different application areas, epoxy protective coatings continue to be the most sought-after type over others like paint coatings, polyurethane, acrylic coatings, zinc coatings, and alkyd coatings. Although expensive, epoxy coatings possess excellent protective capabilities against corrosion and thus cast a lasting impact. This is expected to continue to place these coatings at the top in global market. Sustained adoption of epoxy coatings in automotive, aerospace, marine, pipeline applications, and oil and gas industries is projected to drive their sales in market. Growing preference for application of epoxy coatings at high-traffic floors where maintenance cost needs to be minimised will uplift demand in global protective coatings market.
Asia Pacific Continues to be a Highly Profitable Investment Pocket
Asia Pacific has become the epicentre for investors, as well as participants in protective coatings industry. While traditional global leaders like South Korea have been delivering the largest production output over the decades, China has now come to the fore on the back of the struggling South Korea due to the reduced fossil fuel use. India is also likely to emerge as a highly lucrative market for protective coatings manufacturers. In addition to building and construction industry, especially the housing sector, these nations are also expected to benefit from the surge in demand from automotive industry that seeks improved longevity of automobiles. There has been a lot of development in terms of investments in new production plants, which further accelerates the growth of market in the region.
Key Players in Global Protective Coatings Market
Some of the globally leading producers of protective coatings would be profiled in the global protective coatings market report. AkzoNobel N.V., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., BASF SE, Beckers Group, Jotun, Sherwin-Williams, Induron Protective Coatings, Axalta Coating Systems, LLC, PPG Industries, and Hempel constitute some of the top companies that would be covered under the competition analysis section of the report.
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