Protective Coatings Market Growth Study 2019: Key Players are Wacker Chemie AG; PPG Industries, Inc.

Protective coatings are layering materials applied on various substrate surfaces so that the substrates can be prevented from corrosion and various harmful factors such as corrosion, water resistance, fungal, and various other factors. They are usually applied as an addition to the surfaces and bring more of a functional characteristic instead of an aesthetic appeal. Top Competitors of Market are: Wacker Chemie AG; PPG Industries, Inc.; Akzo Nobel N.V.; The Sherwin-Williams Company; Arkema; Sika AG; RPM International Inc.; Axalta Coating Systems, LLC; HEMPEL A/S; BASF SE; Beckers Group; Induron Protective Coatings; H.B. Fuller Company; Jotun; Kansai Paint Co.,Ltd. and Nippon Paint Holdings Co., Ltd.

Global Protective Coatings Market is expected to rise from its initial estimated value of USD 15.81 billion in 2018, to a projected value of USD 25.54 billion by 2026, registering a CAGR of 6.18% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing need for easily applicable products and innovative and effective product offerings.

Segmentation: Global Protective Coatings Market

Global Protective Coatings Market By Resin (Acrylic, Epoxy, Polyester, Polyurethane, Alkyd, Vinyl Esters, Others)

Formulation (Powder-Based, UV-Cured, Water-Borne, Solvent-Borne)

End-User (Oil & Gas, Automotive, Infrastructure & Construction, Aerospace, Marine, Industrial, Mining, Power Generation, Others)

Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

Key Developments in the Market:

• In October 2018, Axalta Coating Systems, LLC announced the launch of "Corroless", a brand new product portfolio focused on the demand of corrosion and chemical resistant coatings solutions from the industrial market. The new portfolio consist a number of different materials that are focused on the prevention of chemicals harms and corrosion effects on the substrates they are applied to.
• In August 2017, Induron Protective Coatings announced the launch of "Indurethane Monarch HS". The product formulated from the latest urethane technology and is compatible with a number of spraying equipments. The product available in a variety of colour is evidence of the company expanding beyond its existing product offerings.
• In December 2016, Akzo Nobel N.V. announced that they had completed the acquisition of BASF SE’s industrial coatings business division. This acquisition will help Akzo Nobel N.V. in better servicing and providing customised solutions to the various industrial applications.

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Market Drivers:

• Rise in the levels of urbanization and industrialization which has resulted in the construction and establishment of various buildings; this factor is expected to act as a driver for the market growth
• Product innovations and advancements resulting in new product launches; this factor is expected to act as a driver for the market growth

Market Restraints:

• Presence of strict regulations in place for the emissions caused by the production of these coatings; this factor is expected to act as a restraint to the market growth
• High and volatile nature of the cost of raw materials used in the production of these coatings are expected to restrain the market growth

Competitive Analysis:

Global protective coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of protective coatings market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved

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