Epoxy Coatings 2018 Market | Global Industry by Product Type, Application, Key Players & Research Report Forecast to 2023
Global Epoxy Coatings Market Information by Type (Waterborne and Powder-Based), by Application (Construction, Paints and Coatings, Automobile & Transport and Others) – Forecast till 2023
Pune, India – April 23, 2018 /MarketersMedia/ —
Global Epoxy Coating Market – Synopsis
Epoxy Coatings offer excellent adhesion, anti-shrinkage & static, and high resistance to chemicals, corrosion, impact & solvent finish, increasing the durability of the products they are applied to. Moreover, owing to their other properties like quick drying, forming a durable layer, Epoxy Coatings are extensively used across industries, for applications such as steel parts in vehicles, ships, industrial & aerospace machine parts, electrical system & electronics among others. They are also applied to concrete floors & walls to make them water resistant.
Today, Epoxy Coatings cover a vast area of application across automotive, aircraft and marine manufacturing industries. Other key application areas include construction and electronics sectors. Attributing to its vast uptake in these industries; Epoxy coating market is ever increasing, garnering more prominence & popularity on the global platform.
Considering the rapid market expansion, & the growth potential the market holds, Market Research Future recently published an in-depth study report, giving out the complete market insights for the period 2017 – 2023. In its analysis MRFR asserts that the global Epoxy Coating market is forecasted to gain exponential accruals by 2023, registering a phenomenal CAGR during the review period.
Factors that predominantly drive the Epoxy Coatings Market growth include augmenting demand from the burgeoning industries like Automotive & Transport, and Building, Electricals & Electronics & Construction. Rising trends of automotive industry such as lower emission, light vehicles, and fuel efficiency are ascending the market, augmenting its uptake. Additionally, factors contributing to the market growth include rising population, urbanization coupled with the improving economy worldwide that enhances consumers’ affordability.
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Application areas of Epoxy Coatings seem to be increasing with the time. Water filter manufacturing companies use the Epoxy Coating on the exterior, carbon steel with a coal tar epoxy lining on the interior and coal-tar-epoxy-coated steel shell with plastic plates. Besides, Epoxy flooring or floors coated with Epoxy is currently trending worldwide & considered as the most practical & cost-effective option for the aesthetic finish.
Global Epoxy Coating Market – Competitive Landscape
The Epoxy Coating Market is fiercely competitive with the presence of several large and small players operating in the market. Growth in terms of product innovations and technologies in the market are also expected to create strong investment opportunities for the global players. Focused on improving their market performance, the market players are acquiring promising companies to expand in the fast-growing markets.
Industry/ Innovation/ Related News:
April 11, 2018 – ICP Group (US), a leading specialty platform company for the coatings, adhesives, sealants and elastomers announced the acquisition of Pli-Dek Systems Inc. & Waterproofing Solutions (US), a leading manufacturer a wide variety of specialty coatings, epoxy flooring and concrete coatings. This acquisition will be strengthening ICP Construction’s portfolio, while extending their product offerings.
Global Epoxy Coating Market – Segments
For the convenience of the report and enhanced understanding; MRFR has segmented the Market into 3 key dynamics;
By Types: Comprises Powder-Based, Waterborne & Solvent-borne.
By Applications: Automobile, Transportation, Construction, Paints & Coatings among others.
By Regions: North America, Europe, APAC and Rest of the World.
Segment – Powder-Based by Types accounts for the largest market share owing to its augmented uptake backed by its low carbon footprints & is easily controllable under high temperature.
Whereas Segment – Waterborne by Types is poised to dominate the Epoxy Coating Market during the forecast period.
Epoxy Coating Market – Geographical Analysis
Globally, the Asia Pacific region accounts for the largest market share of the Epoxy Coating Market. Owing to the augmented demand from the end-use industries such as ship-building, steel, and petrochemicals in some of the APAC countries like India, Japan, China and South Korea, the market is projected to lead the global market during the review period. Moreover, availability of the cost-competitive skilled labour coupled with the favourable governmental policies are fostering the regional market growth.
While Europe stands the second largest market for the Epoxy Coating, owing to the spurting Paints & Coating industry backed by the dynamic automotive sector in the region. Continuing with the same growth trends the region is expected to demonstrate fabulous accruals during the assessment period.
Whereas the North America region accounts for the substantial market share in the Global Epoxy Coating Market.
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