The Global Protective Coatings market was valued at USD YY million in 2017 and is estimated to reach USD YY million by 2026, with a CAGR of YY% during the forecast period 2019 to 2026. A protective coating is a layer of material applied to the surface of another article with the intent to prevent corrosion and improve the strength of that article.
• The Protective coating market has been driven by increasing infrastructural activities and expansion of the Oil & Gas industry. The growth in the Power sector is also propelling the demand for protective coatings.
• The building and construction sector is observing high investments worldwide. So the rise in Infrastructural activities will drive the demand for protective coatings.
• APAC region is currently experiencing the maximum growth rate in the construction industry, and it will boom the market for protective coatings in that region.
• Protective coatings emit VOCs (Volatile organic compounds) which is responsible for air pollution. Stringent regulatory norms regarding VOC emissions globally could be a barrier to the growth of the protective coatings market.
• The Global Protective Coating Market is classified based on resin type, application, and product formulation. Based on resin type, the market has been segmented as Epoxy, Polyurethane, Acrylic, Polyester, Alkyd, and Others (Zinc, Silicone).
• Further, the market is classified based on the application such as Oil & Gas, Infrastructure, Power, Mining, and Others (Automotive). Additionally, the market segmented by product formulation includes Water-borne, Solvent-borne, Powder borne and others.
• Solvent-borne coatings lead the market in the product formulation segment. These are the conventional coatings which have been in use for years. However, they emit the high amount of VOCs which is hazardous for the environment. This fact has led to the development of more water-borne coatings.
• Apart from being eco-friendly, water-borne coatings have less odor, excellent durability and quick dry time. Because of these advantages, water-borne are mainly used in residential buildings.
• The population in the APAC region is accelerating which is creating the demand for more residential buildings, and thus it will propel the market for water-borne coating. The water-borne coatings are expected to dominate the market in that region in the coming years.
The report segments the market by geography as North America, South America, Asia-Pacific, Europe and Rest of the world. Asia-Pacific region dominates the market for protective coatings with China leading the regional market.
The vast construction industry of China is growing at an insatiable rate. This high growth rate in the construction industry makes China, the largest market for protective coatings.
Also, because of the presence of two leading oil companies SINOPEC and CNCP, the oil & gas sector in the country is expanding which is also fuelling the demand for protective coatings. Japan and India are also contributing significantly to the market because of the growing construction activities in these regions.
Market Key Players
PPG, AkzoNobel, and Sherwin-Williams are the key players who hold the majority of the market share. PPG and AkzoNobel operate globally, but Sherwin-Williams has market share only in North America and South America because its operations are only limited to that region. In June 2017, The Sherwin-Williams acquired Valspar Corporation, making it one of the largest company in protective coatings market.
PPG, AkzoNobel, The Sherwin-Williams Co., RPM International Inc., Nippon Paint Holdings Co, Axalta Coating Systems, The Valspar Corp., BASF SE, Kansai Paint Co. Ltd., and Arkema have been profiled in the report
Scope of the report
By Resin Type
Others (Zinc, Silicone)
Oil & Gas
By Product Formulation
Rest of the World
Why purchase the report?
Visualize the composition of the Protective Coatings market across each indication, regarding resin type, product formulation type, and applications, highlighting the vital commercial assets and players.
Identify business opportunities in Protective Coatings market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the Protective Coatings market level 4/5 segmentation
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Product mapping in excel for the vital Protective Coatings market products of all major market players
DataM Intelligence was established on an elemental idea of publishing Advanced Market Research Reports with precise data points & utmost accuracy that will accelerate the decision-making in designing disruptive solutions. We monitor and analyze the market by dissecting various parameters such as market influencers, competitive intensity, innovations, trends, and emerging products.