USD 38.24 Billion
Epoxy Coatings Market Size, Share, Growth Analysis, By Application(Construction, Transportation, Industrial, and Others), By Type(Water-based, Solvent-based, and Powder-based Coatings), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2419 |
Region:
Global |
Published Date: April, 2024
Pages:
180
|Tables:
64
|Figures:
72
Epoxy Coatings Market Insights
Global Epoxy Coatings Market size was valued at USD 38.24 Billion in 2022 and is poised to grow from USD 40.22 Billion in 2023 to USD 60.34 Billion by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).
Epoxy coatings are durable coatings, which are chemically produced using an epoxide resin and a polyamine hardener. This process is known as curing, where the processing time can vary from a few minutes to a few hours depending on the thickness of the coating required. These coatings can be a strong, durable and chemically impervious film, due to its use in cars, automobiles, transportation. construction, and other industrial floors. For protective purposes of coating in a coating, epoxy coating systems form a protective film of excellent adhesion, high integrity, durability, and corrosion resistance that it is excellent. These oils are primarily liquid, or powder as powders and are famously popular with traditional dissolution-based lubrication systems in some of the benefits of obtaining the preferred pencil form, voc yoga heroism and curry-testing test (voc) of air and the test. reducing need was paramount. Due to low VOC content, chemical formulations and technological advances, epoxy powder-based coatings are becoming a preferred finish over liquid paints.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Construction
Fastest Growth
Transportation
Growth Rate
5.2% CAGR
Global Epoxy Coatings Market ($ Bn)
Country Share for North America Region (%)
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Epoxy Coatings Market Segmental Analysis
On the basis of application, the market is segmented into construction, transportation, industry, and others. Based on type, the market is segmented into water-based, solvent-based, and powder-based coatings. By region, the study provides market insights into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Analysis by Application
Construction was the fastest-growing segment, accounting for the majority of market revenue share in 2022. Growth in epoxy coating applications in residential, industrial and commercial construction is expected to boost market growth. The construction sector plays an important role in the epoxy industry, serving as one of its major customers, and is a driving force for innovation and growth. Here, manufacturing plays several key roles in industry. Epoxy coatings and flooring systems are widely used in the construction industry for both residential and commercial applications Epoxy flooring provides durability, chemical resistance and aesthetic appeal and is ideal for warehouses, industrial equipment, garages, hospitals, and residential areas.
The transportation segment emerged as the leading application in 2022, accounting for 29.4% of total revenue. Increasing demand for automobiles due to the growing middle class, and such in rising disposable incomes in emerging countries. Widespread application of epoxy coatings in industries including marine electronics is expected due to its superior properties such as chemical resistance, thermal and UV resistance combined with durability, strength and flexibility therefore will boost industry over the next eight years.
Analysis by Type
The solid epoxy products segment emerged as the dominant segment in 2022, accounting for 60.2% of the total industry share. The sector is expected to grow due to its potential for a wide range of applications including commercial, industrial, luxury, flooring, non-absorbing and heavy industrial.
The solvent-borne epoxy segment was the second largest segment accounting for 26% of total revenue in 2022. Stoppers facilitate the application of coatings to films without surface stiffness. The solvent-based segment contributed the largest revenue and is expected to grow at a CAGR of 5.2% during the forecast period. This is because epoxy coatings are highly resistant to atmospheric conditions such as moisture and heat during its curing period and this makes them ideally suited for exterior coatings where moisture the cover does not cure properly. Also, developed and developing countries continue to modernize their fighter jets with modern weapons factories that prefer epoxy coatings on coatings, due to how because of their ability to work in harsh weather conditions.
Global Epoxy Coatings Market By Application (%)
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Epoxy Coatings Market Regional Insights
The epoxy coatings market in Asia Pacific is growing, driven by strong regional economies, rising disposable incomes and improving living standards in developing countries such as China, India, Malaysia and Vietnam as it is manufacturing in emerging markets such as China, Thailand, India and Taiwan, and the expansion of the automotive sector is expected to boost industry. New residential and commercial development is a priority for APAC countries such as China, Japan, India, Indonesia, Malaysia and the Philippines. The growth in civil construction and the pressing need for effective global epoxy coatings are driving the market.
Amid environmental concerns, these coatings are likely to be withdrawn in North America. Superior attributes such as durability, excellent finish, high resistance against chipping, corrosion and abrasion are driving the market growth in North America Increase in the capacity of major automakers in the US. production is predicted to boost the market growth. North America represents one of the largest markets for epoxy products globally. The company's strong construction, automotive, aerospace, electronics and marine sectors are driving a high demand for epoxy resins, adhesives, coatings and composites. North American countries, especially the United States and Canada, host many research institutes, universities and companies actively involved in epoxy R&D. These institutes foster innovation in epoxy production, processing and manufacturing in, introducing new products and technologies.
Global Epoxy Coatings Market By Geography
- Largest
- Fastest
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Epoxy Coatings Market Dynamics
Drivers
Growing Demand for Epoxy Coatings in Construction Industry
- Epoxy coatings are durable coatings used in a wide range of applications. These coatings are popular because they provide fast drying, durability and protection to metal and other coatings. Unlike traditional powder coatings, these products can be applied quickly and easily, making them ideal for a variety of coatings. They are durable and durable flooring treatments when used in floor products. Concrete floors are used in a variety of commercial and industrial applications such as commercial and retail establishments, manufacturing plants, industrial plants, hospitals, warehouses, showrooms, airports and garages.
Increasing Demand for Efficiencies
- As construction, automotive, aerospace, electronics and other industries continue to demand materials with superior performance characteristics, the demand for epoxy industry increases Epoxy resins, adhesives, coatings and composites offer features such as high strength, chemical resistance, thermal stability and versatility. The increasing importance of efficiencies is important in the epoxy industry's growth.
Restraints
High Cost of Epoxy Coatings
- Epoxy coatings are more expensive to produce than other coatings. This is because the raw materials needed to manufacture them are more expensive than other inferior coatings, and the manufacturing process is complicated, with little fault tolerance Also, epoxy must most resins pass a regulation to ensure FDA compliance and food safety, increased costs.
Expensive Raw Materials
- Epoxy resins are expensive because they are made from expensive raw materials, require skilled and precise labor, require expensive marketing, are mass-produced in areas where the above is available all the above are expensive and if these resins are sold in large quantities, the price increases even more.
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Epoxy Coatings Market Competitive Landscape
Epoxy coating market competitive landscape provides detailed information for competitors. Description Company Profile, Company Financial, Revenue, Market Capacity, R&D Investment, New Market Activity, Global Arrival, Manufacturing Areas and Facilities, Operating Capacity, Corporate Strength and Simplicity, starting a Trade, Expanding and Broadening a Trade, Operating a Business. The above data points only relate to the perspective of companies involved in the Epoxy Coatings market.
Top Player’s Company Profiles
- BASF SE (Germany)
- AkzoNobel N.V. (Netherlands)
- PPG Industries (U.S.)
- Valspar (U.S.)
- The Sherwin-Williams Company (US)
- Axalta Coating Systems LLC (US)
- Berger Paints India Limited (India)
- Nippon (India) Paint Company Limited (India)
- KANSAI PAINT CO., LTD (Japan)
- RPM International (US)
- Tikkurila OYJ (Finland)
- Endura Manufacturing Company Ltd (Canada)
- Kansai Paint Co., Ltd. (Japan)
- TAO-CHUGOKU CO., LTD. (Thailand)
- Thermal Chem Corporation (US)
- Asian Paints (India)
- MBCC Group (Germany)
Recent Developments
- February 2022 - Westlake Chemical Corporation acquires the Hexion epoxy business for about $1.2 billion (or 1 billion euros) in cash. The Hexion epoxy business will be rebranded as Westlake Epoxy, a trademark for specialty resins, composites and coatings for industry types are developer and supplier, such as end-use products related to sustainability and high-impact products including lightweight wind turbine blades, automotive vehicles and construction products. Beyond manufacturing, it can significantly boost its integrated business.
- January 2022 - Millburn Flooring acquires Blendex Industrial Corp., adding a new epoxy division to be called Blendex. Blendex Industrial Corp.’s acquisition will help Milburn Flooring strengthen its portfolio and expand its installation capabilities, thereby adding value to their existing and potential new customer base.
- April 2023: Dur-A-Flex Inc. This has proposed a revolutionary version of Vent-E to provide additional protection for concrete roofs breaking the boundaries of traditional horizontal ipoxi and salt materials.
Epoxy Coatings Key Market Trends
- Rapid Urbanization Drives Infrastructure Development: The global epoxy coatings market is experiencing significant growth due to increasing infrastructure consumption worldwide. Rapid urbanization, especially in emerging economies, has increased investment in construction projects such as residential housing, shopping malls, bridges, highways and infrastructure. This trend stems from the need for durable and durable coatings to protect infrastructures from corrosion, abrasion and harsh environmental conditions. Epoxy coatings provide good adhesion, chemical resistance and mechanical properties, making it ideal for concrete, steel and other protective substrates in various infrastructure applications. In addition, government initiatives aimed at improving transport infrastructure, modernizing infrastructure and upgrading public buildings are driving demand for epoxy coatings in the fields of infrastructure an industry is driving manufacturers to expand their product range and invest in R&D to meet the growing needs of the construction industry.
Epoxy Coatings Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global epoxy coatings market is an important segment of the broader epoxy industry, characterized by strong growth driven by its versatility, durability, and wide range of applications. Epoxy coatings are epoxy resins and hardeners, for tough times a curing, protective layer is formed. These coatings offer exceptional chemical resistance, adhesion and mechanical properties, making them ideal for a variety of applications in the construction, automotive, aerospace, marine and electronic industries. In construction, epoxy coatings are widely used in floor applications because of their ability to provide lightweight, durable materials that are resistant to heavy traffic, chemicals, and abrasions Furthermore, epoxy coatings so have applications in the fields of corrosion protection and structural strength. Epoxy coatings are used in the automotive, aerospace and aerospace industries for corrosion protection, surface finish and to enhance the aesthetics of vehicles and aircraft.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 38.24 Billion |
| Market size value in 2031 | USD 60.34 Billion |
| Growth Rate | 5.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Epoxy Coatings Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Epoxy Coatings Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Epoxy Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Epoxy Coatings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Epoxy Coatings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Epoxy Coatings Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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