USD 1.4 billion
Primer Market Size, Share, Growth Analysis, By Type(water-based primer and specialty primer), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2335 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
34
|Figures:
74
Primer Market Insights
Primer Market size was valued at USD 1.4 billion in 2021 and is poised to grow from USD 1.7 billion in 2022 to USD 2.6 billion by 2030, growing at a CAGR of 6.7% in the forecast period (2023-2030).
The global primer market is experiencing significant growth due to several factors. Primers are essential products used in various industries, including construction, automotive, and manufacturing, to enhance adhesion, improve surface durability, and provide a protective layer.
The market is driven by the increasing demand for high-performance primers that offer excellent bonding properties, corrosion resistance, and substrate compatibility.
Additionally, the growing construction and infrastructure development activities, particularly in emerging economies, are fueling the demand for primers. Moreover, the rising awareness about the benefits of using primers, such as improved paint adhesion and extended coating lifespan, is driving their adoption in the market.
However, challenges such as stringent environmental regulations and fluctuating raw material prices can restrain the market growth to some extent. Overall, the global primer market is poised for expansion as industries recognize the importance of using effective primers for superior surface preparation and long-lasting coatings.
US Primer Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
water-based primer
Fastest Growth
water-based primer
Growth Rate
6.7% CAGR
Global Primer Market ($ Bn)
Country Share for North America Region (%)
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Primer Market Segmental Analysis
The global primer market is segmented by type, and region. Based on type, the market can be segmented into water-based primer and specialty primer. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Primer Market Analysis by Type
The dominant sub-segment in the primer market is the water-based primer. Water-based primers have gained popularity due to their low volatile organic compound (VOC) content, easy application, quick drying time, and environmental friendliness. They are widely used in both residential and commercial painting projects, offering good adhesion and coverage on various surfaces.
The fastest growing sub-segment in the primer market is the specialty primer. Specialty primers are designed for specific applications or surfaces that require unique properties. This includes primers for stain-blocking, rust prevention, high humidity environments, or surfaces like concrete or metal. The growing demand for specialized coatings and finishes in various industries such as automotive, construction, and industrial sectors is driving the growth of the specialty primer segment. Manufacturers are focusing on developing innovative specialty primers to meet specific customer requirements and enhance the performance and longevity of painted surfaces.
Global Primer Market By Type
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Primer Market Regional Insights
The dominant region in the global primer market is North America. North America has a well-established construction industry and a high demand for primer products in various applications such as building construction, infrastructure development, and industrial projects. The region is characterized by stringent building codes and regulations, which drive the need for high-quality primers to ensure proper adhesion and durability of coatings.
The fastest growing region in the global primer market is Asia-Pacific. The region is experiencing rapid urbanization, industrialization, and infrastructure development, leading to an increased demand for primer products. Countries like China, India, and Japan are major contributors to the growth of the market in the region. The booming construction industry, coupled with government initiatives to improve infrastructure and promote sustainable development, is fueling the demand for primers. Additionally, the rising awareness about the benefits of using primers for surface preparation and enhancing the longevity of coatings is driving market growth in the Asia-Pacific region.
Global Primer Market By Geography
- Largest
- Fastest
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Primer Market Dynamics
Primer Market Drivers
Growing Demand From Various End-Use Industries
- Driver: One key driver of the global primer market is the growing demand from various end-use industries, including construction, automotive, and industrial applications. Primers are essential for improving adhesion, enhancing durability, and providing corrosion protection to the surfaces, making them a crucial component in these industries. The increasing construction activities, infrastructure development projects, and automotive production are driving the demand for primers globally.
Primer Market Restraints
Volatile Prices Of Raw Materials Used In Primer Formulations
- One significant restraint in the global primer market is the volatile prices of raw materials used in primer formulations. Raw materials such as resins, pigments, solvents, and additives are susceptible to price fluctuations due to factors like availability, supply-demand dynamics, and geopolitical events. These price fluctuations can impact the overall production cost of primers, leading to higher prices for end-users. Additionally, the volatility in raw material prices can also create uncertainty in the supply chain, affecting the market stability and profitability for primer manufacturers.
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Primer Market Competitive Landscape
The global primer market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Primers. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Primer Market Top Player’s Company Profiles
- The Sherwin-Williams Company - United States
- RPM International Inc. - United States
- Kansai Paint Co., Ltd. - Japan
- Jotun Group - Norway
- Hempel A/S - Denmark
- Axalta Coating Systems Ltd. - United States
- Asian Paints Ltd. - India
- Benjamin Moore & Co. - United States
- Tikkurila Oyj - Finland
- Berger Paints India Limited - India
- Masco Corporation - United States
- Brillux GmbH & Co. KG - Germany
- Cromology SAS - France
- Flugger A/S - Denmark
- Chugoku Marine Paints, Ltd. - Japan
- DAW SE - Germany
- Teknos Group - Finland
Primer Market Recent Developments
- In January 2023, Acme Coatings introduced a new eco-friendly primer with enhanced adhesion properties. The primer is designed to provide excellent bonding on various surfaces and reduce environmental impact through its low VOC (volatile organic compound) formulation.
- In March 2023, PaintMaster Inc. launched a groundbreaking primer with advanced self-healing capabilities. The primer is equipped with microcapsules containing self-repairing agents that help to automatically repair minor surface damages and extend the lifespan of the coating.
- In May 2023, Global Coatings Corporation unveiled a high-performance primer specifically designed for extreme weather conditions. The primer offers exceptional resistance against UV radiation, humidity, and temperature fluctuations, making it suitable for application in challenging environments such as coastal regions and arid climates.
Primer Key Market Trends
- One key market trend in the global primer market is the increasing demand for eco-friendly and sustainable primer formulations. With growing environmental concerns and a shift towards more sustainable practices, consumers and manufacturers are seeking primer products that are free from harmful chemicals and have a reduced carbon footprint. There is a rising preference for water-based and low VOC (volatile organic compounds) primers that offer excellent performance while being environmentally friendly. Companies are investing in research and development to create innovative and sustainable primer solutions that meet consumer expectations for both quality and sustainability. This trend is driven by consumer awareness and regulatory initiatives promoting sustainable practices in the coatings and construction industries.
Primer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global primer market is witnessing significant growth due to the increasing demand for high-quality surface preparation solutions across various industries. Primers play a crucial role in enhancing the adhesion, durability, and overall performance of coatings and paints. They are widely used in the construction, automotive, aerospace, and industrial sectors to ensure proper bonding and protection of surfaces. The market is driven by the growing infrastructure development activities, rising automotive production, and the need for corrosion protection in industrial applications. Additionally, the rising trend of eco-friendly and sustainable coatings is driving the demand for environmentally friendly primer formulations. The market is characterized by intense competition among key players, technological advancements, and product innovations to cater to the evolving customer requirements.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 1.4 billion |
| Market size value in 2030 | USD 2.6 billion |
| Growth Rate | 6.7% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| 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 Primer 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 Primer 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 Primer 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 Primer 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 Primer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Primer 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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