USD 14.52 billion
Protective Coating Market Size, Share, Growth Analysis, By Resin Type(Epoxy, Acrylic, Alkyd, Polyurethane), By Formulation(Water Borne, Solvent Borne, and Powder Based), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15E2136 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
66
|Figures:
78
Protective Coating Market Insights
Protective Coating Market size was valued at USD 15.28 Billion in 2023 and is poised to grow from USD 16.07 Billion in 2024 to USD 24.1 Billion by 2032, growing at a CAGR of 5.20% during the forecast period (2025-2032).
A protective coating is a substance applied as a layer on the surface of another material to stop or slow corrosion. It aids in preventing rusting on a surface. The application of the protective coating depends on the weather. Cohesive layers and other features are typically present in protective coatings to offer corrosion resistance. Protective coatings use an extremely thick, moisture-resistant layer. These coatings can be applied in many ways and have a number of uses in addition to preventing corrosion. It could be made of metallic or non-metallic materials. Non-metallic Protective coatings usually contain polymers, epoxies, and polyurethanes. Protective coatings are used in a variety of industries, such as consumer goods, heavy machinery, oil and gas, maritime, and automobiles.
With a greater emphasis being placed on extending the lifespan of devices and equipment, the global protective coatings market is likely to expand significantly over the forecasted period. In most situations, protective coatings are applied on prepared metal surfaces. As a result, fractures caused by anthropogenic and natural stress are less prone to develop on metal surfaces. These polymer coatings serve as a barrier between the environment and the metal substrates, thus, preventing any direct contact between them. It improves the asset's capacity to withstand damage brought on by extended exposure to water while also enhancing its aesthetic appeal. Corrosion resistance of the working surfaces of equipment and devices affects reliability and durability. The life of welded joints is increased and strengthened by coatings.
US Protective Coating Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Solvent Borne
Fastest Growth
Water Borne
Growth Rate
5.20% CAGR
Protective Coating Market ($ Bn)
Country Share for North America Region (%)
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Protective Coating Market Segmental Analysis
The global protective coating market is segmented based on the resin type, formulation, and region. Based on resin type, the Protective Coating Market is segmented into epoxy, acrylic, alkyd, polyurethane, polyester, and others. With respect to segmentation by formulation, the Protective Coating Market is segmented into water borne, solvent borne, and powder based. Demographically, Protective Coating Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Protective Coating Market Analysis by Resin Type
On the basis of resin type, the epoxy segment is predicted to dominate the global protective coatings market during the forecast period. Factor attributing to the growth of this segment is the rising demand for epoxy coatings in developing countries as a result of rapid urbanization and increased expenditure on infrastructural development. Due to its increased durability and resistance, epoxy coating is also being used in more applications, which will help the market develop in the forecast period. Additionally, it offers the best defence against hot temperatures, turbulence, abrasion, and corrosive substances.
Protective Coating Market Analysis by Formulation
Based on formulation, the growing use of solvent-borne protective coatings in a variety of end-use sectors, including construction, automotive, oil & gas, and aerospace, is likely to cause the solvent-borne segment to dominate the global protective coatings market during the forecast period. Additionally, the potential of the solvent-borne protective coating to stop corrosion, aid in maintaining durability, and enhance the functionality of surfaces and products, thereby supporting the segment's expansion.
Protective Coating Market By Formulation
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Protective Coating Market Regional Insights
The Asia Pacific region is expected to dominate the global market during the estimated time period. This is owing to the growing population, rapid urbanization and industrialization, increased need for infrastructural development, and rise in construction activities. Additionally, government programmes to invest in infrastructure, notably in the energy and transportation sectors, to improve the connectivity between cities will also help the region to generate notable revenues in the coming years.
Additionally, the ability of protective coatings to protect concrete surfaces and structures in a variety of settings is predicted to drive significant growth in the European area over the course of the projection period. Government programmes to shield bridges and other infrastructures from corrosion and enhance their aesthetic appeal and toughness would also help the market grow remarkably in the foreseeable future.
Protective Coating Market By Region
- Largest
- Fastest
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Protective Coating Market Dynamics
Protective Coating Market Driver
Increasing Demand for Concrete Corrosion Protection
- Concrete is frequently used in civil engineering structures since it is a durable and robust material. Buildings must also fulfil the owner's and architect's expectations for their aesthetic appeal. By avoiding water infiltration, sealing, and adapting surface cracks, protective coating solutions can increase the concrete's longevity as well as its appearance and color palette. Concrete structures are subjected to a variety of environmental factors, including normal atmospheric carbonation, aggressive influences from polluted urban and industrial environments, marine atmosphere, and liquid or gaseous chemicals. These factors may destroy or weaken the embedded steel or concrete reinforcement depending on their location and use. The two most frequent factors contributing to concrete deterioration and reinforcing corrosion are carbonation and chloride attack.
Protective Coating Market Restraint
- Volatile organic compound regulations that are too strict may hinder the market growth. The protection of the environment is just as important to the market as the protection of buildings and other tangible items. This comprises developing goods that reduce emissions of volatile organic compounds (VOCs) and dangerous air pollutants as well as ecologically friendly and non-polluting production processes (HAPs). These coatings are made of liquid materials which, through a chemical reaction, evaporate when they are exposed to oxygen. the solvents in the coatings evaporate, increasing air pollution and ground-level ozone deposits while also releasing VOC emissions. It is the most detrimental effect that solvent-borne coatings have on the environment. Due to stringent environmental rules, businesses are now required to reduce the number of VOCs they produce. This may cause hindrance to the overall growth of this market in the long run.
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Protective Coating Market Competitive Landscape
The global protective coating market is highly competitive in nature. To maintain a competitive edge, a majority of the protective coatings industry participants are continually implementing various growth strategies. Innovations, mergers and acquisitions, collaborations, and partnerships are some strategies adopted by these players to thrive in this competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Protective Coating Market Top Player's Company Profiles
- PPG Industries Inc.
- Akzo Nobel N.V.
- The Sherwin-Williams Company
- Axalta Coating Systems LLC
- Hempel A/S
- Jotun A/S
- Nippon Paint Holdings Co. Ltd.
- BASF SE
- RPM International Inc.
- Kansai Paint Co. Ltd.
- The Valspar Corporation
- Sika AG
- Teknos Group Oy
- Masco Corporation
- Wacker Chemie AG
- Asian Paints Limited
- DAW SE
- Berger Paints India Limited
- Noroo Paint & Coatings Co. Ltd.
- Chugoku Marine Paints Ltd.
Protective Coating Market Recent Developments
- In April 2024, Boero YachtCoatings, a top brand known for its paint solutions for superyacht care, made a big move by teaming up with Alliance Marine Group, the leading wholesaler for businesses in Europe. This partnership aims to strengthen Boero YachtCoatings' position in France. The decision to partner with Alliance Marine is a key part of Boero YachtCoatings' plan to grow internationally and become a major player in Europe's boating industry, offering top-notch products to professionals in the field.
- In October 2023, DKSH's Performance Materials division, known for distributing specialty chemicals and ingredients, began a major partnership with Vink Chemicals. This marks a significant move forward in their collaboration. DKSH will offer a wide range of services including business development, marketing, sales, logistics, and distribution for Vink Chemicals' biocide products. This partnership strengthens both companies' positions in the market and enhances their ability to serve customers effectively.
- In November 2023, PPG Asian Paints, known for its automotive refinish solutions in India, introduced 'Cartisan,' a high-end car detailing and decoration venture. They opened their first flagship center in Pune, located in NIBM. Pune, often dubbed the Detroit of India because of its numerous global automobile manufacturers, serves as a strategic hub for Cartisan's entry into the automotive aesthetic market. The center will cater to Pune city, its suburbs, and neighboring regions, marking a significant move in Cartisan's expansion plans.
Protective Coating Key Market Trends
- Electronic devices now come in a variety of sizes and have radically improved performance and mobility. Electronics are everywhere, from wearables and consumer electronics like smartphones and tablets to specialized industrial equipment like automation controls. Components inside of these devices may corrode if they are not adequately shielded from pollutants. As a result, electronic devices operate worse, which increases the risk of electrical shorts and equipment failure. Smaller, more advanced, densely printed circuit boards (PCBs) with high-performance components, LEDs, and a variety of tiny components are making greater use of electronic protective coatings. The coating on electronic protection devices helps shield electronics from contaminants that could shorten their lifespan. Metals, polymers, and organic and inorganic compounds are used as coating materials in this sector. The use and function of the equipment determine its material consumption. Coatings are advantageous for mechanical, thermal, optical, electrical, and magnetic properties. In contrast, coatings support the creation of circuit boards as well as the protection, ornamentation, and design of devices. When compared to traditional conformal coatings, 3M Novec Electronic Grade Coatings provide corrosion protection for delicate inside device components. These ultra-thin coatings also provide protection from moisture, humidity, contaminants, oils, sulphur, and salt water immersion. These can be applied without masking or curing because they are simple to work with and can be reused as well.
Protective Coating 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global protective coating market analysis, As infrastructure development in emerging nations picks up speed, there is an increasing need for a variety of protective coating formulations. Protective coatings are growing in popularity as governments in developing nations spend more money building infrastructure. Additionally, many governments view infrastructure investment as a way to boost the economy and prevent signs of a protracted recession. The demand for protective coatings, which ensure corrosion resistance, durability, and operational efficiency, is projected to increase as the number of housing projects on the drawing board rises. The construction industry uses protective coatings that are water-resistant, intumescent, abrasion-resistant, and wear-resistant.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 15.28 Billion |
| Market size value in 2032 | USD 24.1 Billion |
| Growth Rate | 5.20% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| 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 |
Protective Coating Market Recent Developments
|
| 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 Protective Coating 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 Protective Coating 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 Protective Coating 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 Protective Coating 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 Protective Coating Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Protective Coating 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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