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Epoxy Coatings market Size
The global epoxy coating market size to reach $48.7 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030.
Epoxy coatings are durable coatings, formed by mixing epoxide resin and polyamine hardener (catalyst) by a chemical process known as curing.” - Allied Market Research WILMINGTON, DE, UNITED STATES, September 8, 2024 /EINPresswire / -- Allied Market Research has unveiled a comprehensive report on the global epoxy coating market , titled "Epoxy Coating Market: Global Opportunity Analysis and
industry Forecast, 2021–2030." The report highlights that the industry generated $28.3 billion in 2020 and is poised to reach $48.7 billion by 2030, showcasing a solid CAGR of 5.6% from 2021 to 2030.
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📊 Key Drivers, Restraints, and Opportunities:
The market's growth is fueled by increased demand across sectors such as building & construction and automotive & transportation, alongside the adoption of epoxy coatings in commercial space development. However, challenges like availability of substitutes and fluctuating epoxy resin prices hinder growth, while the emergence of high solid epoxy coatings presents new opportunities.
🔍 Exploring the Covid-19 Impact:
The pandemic led to partial or complete shutdowns of epoxy coating manufacturing facilities, disruptions in the supply chain, and reduced demand from key sectors like construction and automotive. However, post-lockdown, demand is expected to rebound, albeit with some price adjustments, particularly in the Asia-Pacific region.
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📈 Segment Insights:
Technology: Solvent-based coatings dominated in 2020, maintaining their leadership position, while powder-based coatings are expected to witness the highest growth due to their versatile applications.
Application: Building & construction led the market in 2020 and is projected to maintain its lead, driven by protective coating applications and increased government spending in developing economies. The transportation segment is anticipated to exhibit the fastest growth.
Region: Asia-Pacific and North America dominated the market in 2020 and are expected to continue leading, with Asia-Pacific projected to witness the highest growth rate.
🔍 Leading Market Players:
Akzo Nobel N.V.
Axalta Coating Systems, LLC
Endura Manufacturing Company Ltd.
Kansai Paint Co., Ltd.
Nippon Paint Holdings Co., Ltd.
PPG Industries, Inc.
RPM International Inc.
TAO-CHUGOKU CO., LTD.
The Sherwin-Williams Company
Thermal-Chem Corporation
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Key benefits for stakeholders
Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current epoxy coating market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.
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Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.