Demand for protective coatings is growing, with focus on sustainability and durability.
From GlobeNewswire: 2025-02-05 10:00:00
The Protective Coatings Market was valued at USD 14.2 billion in 2023 and is projected to reach USD 23.1 billion by 2032, with a CAGR of 5.5% from 2024-2032. Demand is driven by industries like construction, automotive, aerospace, and marine, with a focus on eco-friendly and sustainable solutions.
The rise in infrastructure development in emerging economies, along with increasing focus on asset preservation in industries like oil and gas, is driving growth in the protective coatings market. Smart coatings that can monitor and respond to environmental changes are also gaining traction, with a focus on durability, performance, and sustainability.
Epoxy coatings lead the market with a share of over 38% in 2023, valued for their adhesion, durability, and resistance to chemicals. Solvent-based coatings dominate with a share of over 38% in 2023, known for their adhesion, durability, and resistance to moisture, chemicals, and abrasion. Asia Pacific leads the market with a 49% share in 2023, driven by industrial growth and infrastructure expansion.
Recent developments include Axalta Coating Systems launching the ICONICA collection of Alesta SD powder coatings for the construction and architectural markets in the U.S. These coatings offer superior durability and enhanced external durability, blending high-quality stabilizers and pigments. The ICONICA collection offers long-lasting protection for architectural projects. PPG Industries introduced PPG ENVIRO-PRIME EPIC 200R coatings in June 2023, curing at lower temperatures to reduce energy consumption and emissions. The line is sustainable and high-performing, suitable for automotive and industrial use.
SNS Insider provides comprehensive research on the Protective Coatings Market from 2024-2032. The report includes market dynamics, segmentation by resin and technology, regional analysis, and company profiles. SNS Insider aims to provide clients with accurate market data and insights to make informed decisions in a changing environment.
Read more at GlobeNewswire: Protective Coatings Market to USD 23.1 billion by 2032