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Protective Coating Resins Market worth 21.47 Billion USD by 2021
The report "Protective Coating Resins Market by type (Epoxy, Alkyd, Acrylic, Polyurethane), Formulation (Solvent-borne, Water-borne, and Powder), End-use industry (Industrial, Oil & gas, Marine, Automotive, Mining) and Region - Global Forecast to 2021", The global protective coating resins market size is estimated to grow from USD 17.63 Billion in 2016 to USD 21.47 Billion by 2021, at a CAGR of 4.0%. The market is driven by increasing demand for protective coating in emerging markets and high demand from infrastructure & construction, oil & gas, automotive, aerospace, industrial, and marine industries.
Browse 226 market data Tables and 75 Figures spread through 240 Pages and in-depth TOC on "Protective Coating Resins Market by type (Epoxy, Alkyd, Acrylic, Polyurethane), Formulation (Solvent-borne, Water-borne, and Powder), End-use industry (Industrial, Oil & gas, Marine, Automotive, Mining) and Region - Global Forecast to 2021"
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Epoxy, the largest segment of protective coating resins
The growing popularity of various types of protective coating resins such as alkyd, acrylics, epoxy, polyurethane, and polyester in various end-use applications plays a significant role in driving the market. Epoxy protective coating resins accounted for the maximum share, in terms of value, of the overall market due to its excellent customizability and easy to apply & remove properties. There is rising demand for high performance and environmentally friendly nature of protective coatings, which is expected to drive the market for this segment.
Industrial applications, the fastest-growing market segment for protective coating resins
Industrial application is the fastest-growing market, in terms of value, for protective coating resins. The use of protective coating resins due to increased need for protection of machineries and equipment which function in harsh environment is driving the market in this segment.
Rising demand in Asia-Pacific, the major driver for growth of the protective coating resins market
In 2015, Asia-Pacific dominated the protective coating resins market. The region is also projected to register the highest growth rate, both in terms of value and volume, owing to high demand from China and India between 2016 and 2021. China is the largest market for protective coating resins, globally, with major demand from the marine industry. The Indian government has started investment promotion programs to assist infrastructure & construction projects, which is expected to drive the growth of the protective coating resins market.
The key companies profiled in the protective coating resins market research report are PPG Industries (U.S.), The Sherwin-Williams Company (U.S.), Arkema (France), Sika A.G. (Switzerland), RPM International (U.S.), and Hempel (Denmark).
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