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Key Players in the Epoxy Coatings Market
The report studies the important growth strategies adopted by the market players between 2012 and 2016 to expand their presence and increase their shares in the global epoxy coatings market. AkzoNobel N.V. (Netherlands), Axalta Coating Systems(U.S.), BASF (Germany), Berger Paints India Limited (India), Kansai Paint Company Limited (Japan), Nippon Paint Company Limited(Japan), PPG Industries Inc. (U.S.), RPM International Inc. (U.S.), The Sherwin Williams Company (U.S.), The Valspar Corporation (U.S.), Tikkurila Oyj (Finland), and others are the most active and major players in the epoxy coatings market.
New product launch is the main strategy adopted by the industry players to achieve growth in the epoxy coatings market. This strategy accounted for 46% share of all the growth strategies adopted by market players. Increasing demand for epoxy coatings in different applications, such as construction, transportation, general industrial, and others, has encouraged companies to launch new products to cater to all the application of epoxy coatings. Market players are focusing on improving their product portfolio to enter the market and increase their global market share. Valspar Corporation (U.S.) and The Sherwin-Williams Company (U.S.) are some of the leading market players that adopted this strategy to develop their businesses.
Besides new product launch, agreements & partnerships are also one of the popular growth strategies adopted by the key market players. This strategy accounted for a share of 36% of the total number of growth strategies adopted by the players. Companies such as Valspar Corporation, PPG Industries, and AkzoNobel N.V. are focusing on increasing their presence by entering into partnerships, agreements, and joint ventures to meet the rising demand for epoxy coatings. The strategies of expansions and mergers & acquisitions accounted for a share of 9% each of the total number of growth strategies adopted by the players.
The market for epoxy coatings was dominated by Valspar Corporation, AkzoNobel N.V., The Sherwin-Williams Company, and PPG Industries in terms of development in the market; these are the key active players who have a strong regional presence in the epoxy coatings market. They adopted growth strategies such as expansions, mergers & acquisitions, new product developments & launches, agreements, and collaborations. The Sherwin-Williams Company and Valspar Corporation accounted for 81% of the total epoxy coatings market activities between 2012 and 2016. Valspar Corporation, which is a leading company in terms of new product launches between 2012 and 2016, launched glass-based epoxy paints and water-based epoxy coatings for different applications such as construction and transportation.
Epoxy Coatings Market by Technology (Solvent borne, Waterborne, and Powder-Based) and Application (Construction, Transportation, General Industrial, and Others) - Forecast to 2021
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