(MENAFN- America News Hour) Protective Coatings Market report delivers a detailed overview of the global protective coatings market in terms of market segmentation by type, application, membrane material, filter design, and by region. Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
Protective Coatings Market Statistics
The protective coatings industry is slated to observe a 6% growth rate through 2023-2033
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Growing Need of Residential and Non-Residential Building Construction to Drive Growth of Global Protective Coatings Market
The demand for construction of new infrastructure and rising spending on the maintenance of the existing infrastructure is expected to drive the market growth of protective coatings. Other than construction industry, protective coating is widely used in various end-use industries including oil and gas, aerospace, industrial, marine, automotive, power generation, mining, and others. The coating is applied over various surfaces to ensure protection from the external environment and harsh effects that could damage the function or integrity of an item or part.
The market research report also includes other growth factors and challenges that are associated with the growth of the global protective coatings market. Some of the major growth indicators are:
Surge in Government Support Increased Research & Development Expenditure
The strict rules regarding toxic nature along with rising concern for utilizing Volatile Organic Compounds (VOC) and governmental rules regarding adverse effect on environment are some of the major factors anticipated to hamper the growth of the global protective coatings market. Despite of the numerous restraint factors associated with the growth of the market, Research Nester's analysis indicates a robust growth for the market during the forecast period
The market research report on global protective coatings encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
By end-user, the global protective coatings market is segmented into construction, oil & gas, aerospace, industrial, marine, automotive, power generation, mining, and others. Out of these, the construction sector is attributed to garner the highest market share by 2033, owing to rising construction sector for residential, commercial and industrial properties. As per estimations, in 2020, there were almost 100 million single family homes in the U.S.
According to a recent study by Research Nester, the protective coatings market size is projected to expand at a CAGR of over 6% from 2023 to 2033.
Major players include in the global protective coatings market:
Sika AG, PPG Industries, Inc., Akzo Nobel N.V., Arkema, Sherwin-Williams Company, Wacker Chemie AG, RPM International Inc., Hempel A/S, Axalta Coating Systems, Kansai Nerolac Paints Limited
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By region, the Asia Pacific protective coatings market is to generate the highest revenue by the end of 2033. This growth is rising construction sector and automotive industry in the region. Also, the rise in disposable income, GDP level and construction industry are some of the other factors that is anticipated to increase the adoption rate of wood coating.
The research is global in nature and covers detailed analysis on the protective coatings market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising of global protective coatings market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
This report also provides the existing competitive scenario of some of the key players of the global protective coatings market which includes company profiling of Sika AG, PPG Industries, Inc., Akzo Nobel N.V., Arkema, Sherwin-Williams Company, Wacker Chemie AG, RPM International Inc., Hempel A/S, Axalta Coating Systems, Kansai Nerolac Paints Limited and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global protective coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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