Protective Coating Market Analysis:
The protective coating is a coating that is placed over a surface to shield it against exterior atmosphere, which may harm an object or part's function or integrity. Protective coatings are used in household goods, heavy equipment, marine, automobile, and oil & gas sectors. Such coatings, when applied periodically, provide long-range security, which enhances a structure's service life. These coatings are utilized to shield and enhance aesthetical appearance of metals, plastics, and objects made of wood. The broadened use of these coatings has contributed to the growth of the market for protective coatings.
Key drivers of global protective coating market
In emerging nations, rapid urbanization and increase in industrialization are the prime factors that boost the growth of the global protective coatings market. In addition, the global protective coatings market is anticipated to exhibit sustainable growth during the coming years majorly due to the development of different industrial sectors around the world. Another aspect that is expected to fuel the demand for protective coatings is product innovations based on eco-friendly and cost-efficient solutions. Moreover, increase in investment in infrastructure sector is anticipated to augment the growth of the protective coatings market during the forecast period.
Market scenario: opportunities and challenges
The growth of the global protective coatings market is majorly driven by increase in infrastructure & construction projects in developing economies, rise in demand for high-performance coatings, and surge in demand for sustainable protective coatings. Product and technology advances based on eco-friendly and cost-efficient solutions is projected to create growth opportunity for the market. Marine coatings play a significant role in guarding against corrosion. In addition, they exhibit the capacity to efficiently protect against oxidation, which depends on technical parameters such as fundamental corrosion protection through barrier or inhibition impacts, galvanic, higher mechanical strength, adhesion properties, and crack resistance. However, implementation of stringent environmental regulations regarding the manufacture and use of protective coatings is projected to limit future market growth.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global protective coating market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown. In addition, the current pandemic scenario has led to reduced demand in the automobile, manufacturing, appliances, and white goods for paints and coatings. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown.
Key benefits of the report
- This study presents the analytical depiction of the global protective coating industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global protective coating market share.
- The current market is quantitatively analyzed to highlight the global protective coating market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global protective coating market research report:
- Which are the leading market players active in the global protective coating market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Protective Coating Market Report Highlights
By End User
Key Market Players
Diamond Vogel Paints, Solvay S.A., Sono-Tek Corporation, RPM International, Inc, Ashland Inc., Jotun A/S, Axalta Coating System Ltd., Clariant International Ltd., PPG Industries, Inc., Royal DSM N.V.