Epoxy Coatings Market Trend | Share, Type Report, Growth, Size and Forecast
Epoxy coatings Market – Market Overview
Epoxy coatings are
a lucrative market and is expected to have a steady growth during the forecast
years. Epoxy resins are synthetic resins that are extensively used in the
manufacturing of plastics and adhesives. Epoxy coatings are formed through the
process of mixing polymine hardener and epoxide resin by a process called
curing. Epoxy Coatings Market Trend possesses
various qualities such as corrosion resistance, superior adhesion, flexibility
which paves their way into many end user industries. These coatings acts as an
excellent adhesion to various substrates such as metal, fiber and glass. .
Epoxy coatings are segmented on the basis of their technology, application and
region. On the basis of the technology power based is the fastest growing
segment owing to its low VOC content. On the basis of application, construction
accounts to have the largest share owing to the improved strength, chemical
resistance, coupled with the growing demand for low VOC emitting coatings.
According to the
analysis of MRFR, the major market forces and trends driving growth of the
global Epoxy coatings Market includes growth of construction sector and the
burgeoning growth in the automobile industry. Moreover, the increasing personal
disposable income in the developing economies throughout the globe has
augmented the construction activities especially in India and china which in turn
is further expected to fuel the growth of the global Epoxy coatings market
during the forecast period. In addition, the growing government
investment in development of residential and commercial infrastructure
throughout the globe coupled with the increasing demand from the marine and
electronics owing to superior qualities such as durability, UV resistance, and
chemical resistance, among others are positively adding to the market growth.
Epoxy
coatings Market- Competitive Landscape
The global Insulating Epoxy Coating trend
is a highly lucrative market driven by flourishing growth in construction and
automobile industry, along with the growing manufacturing plants. AkzoNobel
N.V. (Netherlands), Axalta Coating Systems (U.S.), BASF SE (Germany), Berger
Paints India Limited (India), Kansai Paint Company Limited (Japan), Nippon
Paint Company Limited (Japan) among others are some of the major players
operating in this market. Most of these market participants are adopting the
expansion, product launch, and merger and acquisition tactics to strengthen
their production capacities and market position. Taking account of these trends
the global Epoxy coatings Market is projected to witness considerable
competition over the forecast period of 2017-2023.
Asia pacific is
expected to be the fastest growing region during the forecast years. The
increasing Globalization and urbanization in the developing economies of the
region has propelled the construction of residential and commercial
infrastructure which is a dominant factor for the demand for epoxy coatings in
the region. Moreover, the shifting of manufacturing base by the automobile
companies to Asia Pacific owing to favorable government policies and cheap
labor is further expected to boost the market. In addition to this, the growing
encouragement by the government to reduce greenhouse emissions is also surging
the market owing to the environmental friendly qualities of epoxy coatings.
Industry/
Innovation/ Related News:
1 January, 2018-
Versa flex Incorporation and Raven Lining has successfully completed its
merger. This merger is expected to build up their product portfolio and
technology in polyurea, epoxy, polyurethane, and cementations technologies.
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