PPG Industries and AkzoNobel are the Major Players in the Epoxy Primer Market
The epoxy primer market is projected to grow from USD 8.52 billion in 2018 to USD 10.91 billion by 2023, at a CAGR of 5.1% between 2018 and 2023. APAC is estimated to be the largest consumer of epoxy primer in 2018; this can be attributed to the increasing infrastructural development and construction activities in the region and the increasing demand for epoxy primer from automotive, marine, oil & gas, power generation, and other industrial applications from emerging economies, such as China, India, South Korea, Vietnam, and other Southeast Asian countries.
Some of the major players in the epoxy primer market include Sherwin-Williams, PPG Industries, AkzoNobel, BASF, Axalta Coating Systems, Kansai Paint, Nippon Paint, Tikkurila Oyj, and RPM International. These players focus on expansions and new product launches as major strategies to consolidate their position in the market. There is a high competition among these market players, and they focus on organic and inorganic growth strategies to increase their market share and global foothold. For instance, in June 2017, Sherwin-Williams acquired Valspar Corporation (US). The acquisition has helped the company enhance its position as a premier global paints and coatings provider, globally. In October 2017, PPG Industries acquired the Crown Group (US), a coating application company. The acquisition helped it serve its customers better in North America. PPG Industries has also invested about USD 49.0 million to start a new paints & coatings manufacturing facility and commercial operation in the Lipetsk region of Russia. The expansion helped it better serve the existing customers in Russia and Eastern Europe, and increases its presence in Europe and Middle East & Africa (EMEA) region.
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PPG Industries is one of the largest players in the epoxy primer market. It has a wide product portfolio and global presence. The company offers epoxy primers through both of its business segments, namely, performance coatings and industrial coatings. It serves automotive, construction, aviation, marine, military, and other industrial applications. The company focuses on both organic and inorganic growth strategies to enhance its market position and global presence in the overall coating business.
Sherwin-Williams is one of the largest players in the epoxy primer market. The company offers epoxy primers for various applications, such as OEMs, automotive refinish systems, marine, aviation, and building & construction. It mainly focuses on inorganic growth strategies to enhance its market position.
AkzoNobel is the third-largest player in the epoxy primer market. The company offers epoxy primers for construction, automotive, vehicle refinish, marine, aviation, commercial, and other industrial applications. The company has a strong presence worldwide. It undertakes both organic and inorganic growth strategies to increase its market share and global foothold. For instance, in July 2017, the company acquired Flexcrete Technologies Ltd. (UK) that produces products for the protection and repair of concrete substrates. In May 2017, the company started a performance coating production facility in Brazil. This expansion has helped it strengthen its International Brand and enables it to better serve customers in South America.
Related Reports:
Epoxy Primer Market by Substrate (Metal, Concrete & Masonry, and Fiberglass), Application (Building & Construction, Automotive, Marine, and Machinery & Equipment), Technology (Solvent-borne, and Waterborne), and Region-Global Forecast to 2023
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