Global Protective Coatings Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

Protective Coatings Market Overview:

The Protective Coatings Market was valued at $21.40 million in 2021 & is projected to reach $54.52 million by 2027. It is expected to grow at a 12.4% CAGR between 2021 and 2027.

The Protective Coatings Market report contains data and information regarding the global protective coatings market, such as market restrains, drivers, trends, growth opportunities, revenue details, competitive landscape, recent developments, and details of key players, are included.

Moreover, extensive primary and secondary research efforts are conducted to ensure the accuracy of research conclusions and findings.

Also, industry experts verify research findings and conclusions before they are included in the research report. The global protective coatings market research report is segmented on the basis of resin, formulation, end-user, and regions and countries.

Protective coatings are generally applied on a surface to protect it from corrosion. The protective coating is done according to environmental conditions. In order to ensure protection from corrosion, protective coatings usually have cohesive film and other properties.

The film used in protective coatings is resistant to dampness and very thick. Protective coatings have applications in consumer products, heavy machinery, oil and gas, marine, and automotive industries. Protective coatings are classified according to their resin types.

Protective Coatings Market Dynamics:

One of the major factors driving the growth of the global protective coatings market is the growing construction industry.

The end-use industries in which protective coatings are widely in use are oil and gas, construction, industrial, marine, aerospace, power generation, mining, automotive, construction, and others.

Protective coatings are applied over different surfaces for ensuring protection from the external environment that can damage the integrity or function of a part or item.

Factors such as increasing urbanization, growing population, and industrial growth have resulted in an increasing need for infrastructure construction and development around the globe, which, in turn, is fuelling demand for protective coatings in the global market.

In order to meet the requirements of various applications, the construction industry requires many protective coating formulations.

Commonly used protective coatings products in the construction industry are high-temperature, abrasion and wear-resistant, water-resistant, and intumescent coatings.

In order to ensure resistance to wear and tear and corrosion, operational efficiency, and durability, protective coatings are also applied to various construction equipment.

Increasing infrastructure spending by Asian countries such as India and China is projected to further drive the growth of the global protective coatings market over the forecast period.

The major restraint to the global market is the strength of regulations regarding toxic solvents.

However, continuous research and developments and new product launches are projected to create growth opportunities for key players in the global market over the forecast period.

Global Protective Coatings Market Segment Analysis:

By Resin:

The epoxy segment continues to account for the highest revenue share in the global protective coatings market among other resin segments.

This is expected to continue over the forecast period. This can be attributed to its wide use in structural parts in the construction industry to enhance strength, durability, and resilience. Moreover, it is used in grouts, crack injection, floor toppings, and adhesives.

By Formulation:

The solvent-borne segment among the formulations segments is expected to continue its dominance in terms of revenue share over the forecast period. This can be attributed to its wide use in the oil and gas, industrial, and automotive sectors.

Global Protective Coatings Market Regional Analysis:

The Asia Pacific is the dominant regional market in terms of revenue share and this dominance is expected to continue over the forecast period.

This can be attributed to increasing demand for protective coatings from various end-users such as power generation, oil and gas, industrial, automotive, aerospace, mining, and others.

Global Protective Coatings Market Segmentation:

By Resin:

• Acrylic
• Epoxy
• Polyurethane
• Alkyd
• Polyester
• Others

By Formulation:

• Solvent Borne
• Water-Borne
• Powder Based
• Others

By End-user:

• Construction
• Oil & Gas
• Aerospace
• Industrial
• Marine
• Automotive
• Power Generation
• Mining
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa