Rising demand from the paints, coating, transportation industries is a key factor driving market revenue growth
The global Epoxy Surface Coating Market size was USD 33.97 Billion in 2021 and is expected to register a revenue CAGR of 5.2% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by growing need for protective coatings in industrial settings.
Epoxy Surface Coatings are used in various consumer and industrial applications due to their durability, powerful adhesion, chemical resistance, and other specialized features, hence they are utilized as protective coatings in electronics applications. Epoxy resins are used in industries for applications ranging from safeguarding printed circuit boards to protective coatings for consumer goods. They are also used in electronics for potting, which is the act of filling an electronic assembly with polymer to insulate it, protect it from moisture and corrosion, and provide resistance to shock and vibration.
In addition, Epoxy Surface Coatings effectively resist corrosion, abrasion, and weathering, making them ideal for steel applications placed in harsh operating environments. These coatings are resistant to extremely high temperatures, therefore, used for tanks that store hot products or exposed to extreme heat. Moreover, Epoxy Surface Coating is widely adopted in flooring for industrial plants, healthcare facilities, manufacturing plants, schools or universities, food and agricultural facility, and other commercial industries, due to their increasing benefits.
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Top Companies Profiled in the Report: Akzo Nobel N.V., BASF SE, Nipsea Group, Asian Paints, PPG Industries, Inc., Axalta Coating System, RPM International, Inc., Kansai Paint Co., Ltd., Thermal-Chem Corporation, and Toa-Chugoku Co., Ltd.
Some Key Highlights from the Report:
- The solvent borne segment is expected to register a rapid revenue growth rate during the forecast period owing to increasing need for better durability and performance. These coatings are commonly used in industrial and commercial applications to paint machinery, storage units, and shelving. Also, due to their thick and tough floor coating properties, they are used in factories, warehouses, and industries. In addition, solvent-borne Epoxy Surface Coating is easy to install than any other coating, so they are widely used in machine shops and retail units.
- The construction segment is expected to register a revenue steady growth rate during forecast period owing to increasing need for high-performance and decorative floorings, such as terrazzo flooring, colored aggregate flooring, and chip flooring, that are used in building and construction applications. Also, epoxy paints that are water-based dry quickly and offer a robust and durable layer. They are much safer from exposure and flammability than alternatives based on organic solvents, making them appropriate for factory cast iron, cast steel, and cast aluminum applications.
- The North America market is expected to account for largest revenue share in the global market during the forecast period owing to increasing presence of major market players such as PPG Industries, Inc., Axalta Coating System, RPM International, Inc., and Thermal-Chem Corporation, among others in this region. In addition, increasing awareness about benefits of environment-friendly goods among consumers is expected to contribute to market growth in this region. Moreover, increasing investments of private companies in the paint and coating industry and rapidly growing paint industries are expected to drive market revenue growth. Furthermore, increasing industrial and building projects in countries, such as the U.S and Canada, have also resulted in rising demand for Epoxy Surface Coatings in this region.
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Product Outlook (Revenue, USD Billion; 2019-2030)
- Solvent Borne
- Waterborne
- Powder
Application Outlook (Revenue, USD Billion; 2019-2030)
- Construction
- Industrial
- Transportation
- Others
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Epoxy Surface Coating market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Epoxy Surface Coating market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Epoxy Surface Coating market key players
3.2 Global Epoxy Surface Coating size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Epoxy Surface Coating market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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