Epoxy coatings are produced by blending polyamine hardener and epoxide resin by a chemical process known as curing. Epoxies are comparatively more expensive than other coatings, however, offers superior flexibility, adhesion, and corrosion resistance when applied to metallic substrates. Most epoxy surface coatings tend to discolor on exposure to sunlight; hence they are rarely utilized for architectural surfaces exposed to outdoor light. Epoxy coatings are primarily employed for protective coating, quick-drying, etc. for metal, floors, and other materials. Epoxy coatings can also be exploited as epoxy floor paints in commercial or industrial flooring applications.
MARKET DYNAMICS
Increased spending in construction, majorly in developing regions of Asia Pacific, South America, and MEA, is considered to fuel the epoxy surface coatings market. According to the report by the World Bank, in 2020, the construction sector is projected to reach about USD 11.9 trillion, with a growth of about 4.2% from 2019. Thus, in turn, is intended to increase the demand for coatings. Rapid urbanization and industrialization in the Asia Pacific region is also another significant factor that propels the market expansion. Epoxy surface coatings are exploited in flooring applications for warehouses, retail stores, showrooms, hospitals, and garages. Epoxy coatings also find applications in end-user industries, including metal cans, electrical, marine, and consumer goods. The electrical sector uses epoxy coating in printed circuit panel applications. Metal cans used in the food & beverage sector are applied with epoxy coatings for rust prevention, especially when used to pack acidic food such as tomatoes. Hence, the immense growth of the end-user industries is likely to contribute to the growth of epoxy surface coatings market.
MARKET SCOPE
The "Global Epoxy Surface Coating Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the epoxy surface coating market with detailed market segmentation by technology, end user and geography. The global epoxy surface coating market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading epoxy surface coating market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global epoxy surface coating market is segmented on the basis of technology and end user. On the basis of technology, epoxy surface coating market is classified into water-based, solvent-based, and powder-based. On the basis of end user, market is segmented into building and construction, automotive, transportation, industrial, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global epoxy surface coating market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The epoxy surface coating market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the epoxy surface coating market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the epoxy surface coating market in these regions.
MARKET PLAYERS
The reports cover key developments in the epoxy surface coating market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from epoxy surface coating market are anticipated to lucrative growth opportunities in the future with the rising demand for organic shrimps in the global market. Below mentioned is the list of few companies engaged in the epoxy surface coating market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the epoxy surface coating market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Akzo Nobel N.V
- Axalta Coating Systems
- BASF SE
- Henkel AG & Company
- Kansai Nerolac Paints Limited
- PPG Industries
- Sika AG
- The Sherwin-Williams Company
- TIKKURILA OYJ
- Valspar
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