Protective Coatings Market was
valued at USD 24.90 billion in 2015. The growth in this market is primarily an
outcome of significant consumption in key end-use industries such as
construction, oil & gas, and aerospace.
The growth in the protective coatings market is expected to
be positively impacted by the rise in the aerospace and automotive industries
worldwide. The rising demand for passenger cars and the growing air traffic,
most notably in emerging regions, are expected to drive the growth of this
industry during the forecast period.
Request Sample Copy
of this Market Research @ https://www.millioninsights.com/industry-reports/protective-coatings-market/request-sample
In terms of products, the industry has been categorized into
water-borne, powder-based, and solvent-borne. In 2015, the solvent-borne
segment accounted for revenues of nearly USD 8.5 billion, thereby dominating
the overall industry revenue. However, this segment is anticipated to observe
slow growth during the forecast years owing to strict government regulations on
the use of solvent-based compounds with high VOC content.
Water-borne coatings is another key segment, which is
expected to experience the highest revenue growth of nearly 11% during the
forecast period. Increasing demand for environmental-friendly products from key
end-use verticals is slated to drive the segment growth.
End-use Insights
The industry has been segmented into construction, oil &
gas, aerospace, mining, industrial, power generation, automotive, marine, and
others, on the basis of end use. The construction segment dominated the overall
industry, accounting for revenues of over USD 5 billion in 2015. This dominance
and future growth of this segment can be attributed to rising infrastructure
development activities and investments in emerging countries of Asia Pacific
and Central & South America.
The growth of the aerospace and oil & gas segments is
also expected to drive the demand for protective coatings during the forecast
period, projected to grow at a CAGR of nearly 11%. This can be attributed to
the increasing demand for the products in thermal barrier and surface
protection applications, in the aforementioned industries, which witness
high-temperature operations.
Browse Full Research
Report @ https://www.millioninsights.com/industry-reports/protective-coatings-market
Market Segment:
Resin Type Outlook
(Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
• Acrylic
• Epoxy
• Polyurethane
• Alkyd
• Polyester
• Others
Product Outlook
(Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
•
Solvent-borne
• Water-borne
• Powder-based
• Others
For More Details
Please Visit www.millioninsightsmarket.wordpress.com
No comments:
Post a Comment