Rise in demand from various sectors including building & construction and automotive & transportation along with adoption in development of commercial spaces
WILMINGTON , DELAWARE, UNITED STATES, March 21, 2024 /EINPresswire.com/ — Allied Market Research has unveiled a comprehensive report on the global epoxy coating market, titled “Epoxy Coating Market: Global Opportunity Analysis and Industry Forecast, 2021โ2030.” The report highlights that the industry generated $28.3 billion in 2020 and is poised to reach $48.7 billion by 2030, showcasing a solid CAGR of 5.6% from 2021 to 2030.
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๐ Key Drivers, Restraints, and Opportunities:
The market’s growth is fueled by increased demand across sectors such as building & construction and automotive & transportation, alongside the adoption of epoxy coatings in commercial space development. However, challenges like availability of substitutes and fluctuating epoxy resin prices hinder growth, while the emergence of high solid epoxy coatings presents new opportunities.
๐ Exploring the Covid-19 Impact:
The pandemic led to partial or complete shutdowns of epoxy coating manufacturing facilities, disruptions in the supply chain, and reduced demand from key sectors like construction and automotive. However, post-lockdown, demand is expected to rebound, albeit with some price adjustments, particularly in the Asia-Pacific region.
๐๐จ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ https://www.alliedmarketresearch.com/purchase-enquiry/1645
๐ Segment Insights:
Technology: Solvent-based coatings dominated in 2020, maintaining their leadership position, while powder-based coatings are expected to witness the highest growth due to their versatile applications.
Application: Building & construction led the market in 2020 and is projected to maintain its lead, driven by protective coating applications and increased government spending in developing economies. The transportation segment is anticipated to exhibit the fastest growth.
Region: Asia-Pacific and North America dominated the market in 2020 and are expected to continue leading, with Asia-Pacific projected to witness the highest growth rate.
๐ Leading Market Players:
Akzo Nobel N.V.
Axalta Coating Systems, LLC
Endura Manufacturing Company Ltd.
Kansai Paint Co., Ltd.
Nippon Paint Holdings Co., Ltd.
PPG Industries, Inc.
RPM International Inc.
TAO-CHUGOKU CO., LTD.
The Sherwin-Williams Company
Thermal-Chem Corporation
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Key benefits for stakeholders
Porterโs five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current epoxy coating market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.
๐๐๐ญ๐๐ฌ๐ญ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐ฅ๐ฅ๐ข๐๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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Allied Market Research
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